Corporate Governance

Does Operation Broken Trust Break a Promise?

By Carolyn Moskowitz

An article by Andrew Ross Sorkin in yesterday?s New York Times pulls backs the curtains on the government?s Operation Broken Trust and finds less there than the Department of Justice would have us believe. On Monday, Attorney General Eric Holder boasted that that the national operation, which targets an array of investment fraud schemes, has involved 231 criminal cases that have led to prison sentences for 87 defendants. 

Mr. Holder claimed that the three-and-a-half-month operation, coordinated and led by members of the Financial Fraud Enforcement Task Force, sends a "strong message" to fraudsters that scamming investors is "no longer a safe business plan."

Mr. Sorkin asks: ?[i]s anyone in the corner offices of Wall Street?s biggest firms or corporate America?s biggest companies paying any attention to Mr. Holder?s ?strong message?? . . . Of course not.?

To read what Mr. Sorkin found ?past the pandering sound bites,? follow this link to his article.

Full post as published by PomTalk on December 07, 2010 (boomark / email).