Public companies screwed their stockholders in the 19th century, in particular the railroads did

Reader comment on: Regulating Public Companies Away

Submitted by Lyle (United States), May 17, 2012 23:55

Back then and continuing management worked hard in at least some cases to obfuscate and even in some cases outright lie on the financial statements. I think the statement under penalty of perjury makes a lot of sense for the CFO and CEO to sign, and perhaps in addition the entire board should sign under penalty of perjury.

Anyway many reports are that retail investors are boycotting the market as just a big casino, and having been burned in the past are avoiding it. Now of course institutions if they had backbone, and no conflict of interest could have an effect, but most want to get the companies 401ks.

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