US Corporates: A matter of trust

Ulhas Joglekar uvj at vsnl.com
Thu Jul 18 06:28:35 PDT 2002


The Economic Times

A matter of trust

SUNDAY, JULY 14, 2002

Jeffrey E Garten

What worries me about the stench coming from Corporate America is not its impact on the economy, because America's resiliency is awesome.

It isn't that scandals may be causing the dollar to sink, because the greenback was overvalued anyway. Nor am I concerned that errant CEOs will escape punishment, since the feds are finally on the case.

No, what bothers me most is something not so easily fixed -- the erosion of the equity-based culture that emerged in recent years. There were several components to it. First, Americans came to rely on equity markets for an ever-increasing amount of their personal financial security.

http://economictimes.indiatimes.com/articleshow.asp?art_id=15898473



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