I saw your post on the Fool board, so looked for it here.

What I read in this article, is the same as I see behind the push to eliminate quarterly reports: deregulation, so management is less supervised and less accountable. Back when I had cable, so that I could watch bubblevision, I heard this constant drumbeat to eliminate regulation of the financial industry, so that more capital would move to NYC, and keep it the financial capital of the universe.

But, what happens, when management is not constrained by a truly independent Board, shareholders, or financial reporting? I have told the story before, how a Tandy Board member started to criticize John Roach's management of the company, ie doing his job of looking out for shareholders. The member was tossed from the Board, while Roach continued to run the company into the ground. Provide more "deregulation", and there will be more latitude for management abuses.

Steve

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