The subprime mortgage is just same old Wall Street story. You have greedy executives who want big fat bonus and will do anything to shore up the financial statements. You have the accountants and auditors who don't quite have the backbones are just too willing to go along with the management. The SOX is just a joke, it burdens the average rank and file type but it doesn't do anything, I mean anything good to curtail this kind of corporate recklessness or outright fraud. The SOX is simply designed so the accounting firms can get more billings for doing bullshit consulting jobs and makes sure the average cubicle office drone will do all these compliance bullshit works 12 hours a day non stop devoid of any life at all.
It's just revolting.
Inquiry Assails Accountants in Lender's Fall.
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