Additional thoughts.
Everyone, in looking at how certain businesses such as ENRON can hide their actual business dealings, this says a lot about the way the corporations prevent information from leaking to the regulatory authorities!! Corporate scandals of today demonstrate this in a big-time way!!
And today we have so many shocks to Wall Street, and to the public in general. What was particularly devastating about corporate collapse seems so sudden because only a few months before the announcement of hundreds of millions of dollars in losses, these companies claim to be making billion-dollar profits. So, in addressing this very key concern about how we do not hear anything until it is in the news, what guidelines must be put in place to create more transparency with these types of companies? Is the SEC given enough power in terms of controlling the way that this information comes out to the public?
Second, especially given the corporate environment that we live in today, in which there is such a high degree of mistrust, we must rely upon the media more than ever to give us reliable information! How can we demand that the new media step up and report corporate scandals, and all aspects of news, in an accurate and informative way?