magic touch

Doug Henwood dhenwood at panix.com
Thu Sep 5 12:07:17 PDT 2002


A bitchy list from a Brookings study of the economic impact of the "corporate governance" scandals (which looks rather uncurious about the effects of the bubble in the first place):

Table 7: The many roads to failure* Day Event Market Reaction

January 22, 2002 Bush speech assails Enron executives who heavily contributed to his campaign Down 0.73%

January 27, 2002 SEC chair Harvey Pitt announces proposal to require CEO certification of annual report Down 0.08%

April 24, 2002 House passes weak bill on accounting regulations Down 0.15%

June 20, 2002 SEC unanimously approves auditor oversight system Down 1.34%

July 9, 2002 (early) Bush gives speech on Wall Street outlining proposals to deal with crisis Down 2.47%

July 9, 2002 Sarbanes bill tightening corporate management and accounting regulations introduced in Senate Down 3.39%

July 15, 2002- July 16, 2002 Senate unanimously passes Sarbanes bill

Fed Chair Alan Greenspan gives speech to Senate Banking Committee that is upbeat on economy Down 1.84%



More information about the lbo-talk mailing list