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So the loss of public companies also includes the loss of companies who were milking the market via shady accounting. There is a persistent narrative that Dodd-
by yborg 8y ago
So the loss of public companies also includes the loss of companies who were milking the market via shady accounting. There is a persistent narrative that Dodd-Frank was just some kind of punitive punishment of big capital for being too big - the reason was to give average investors better visibility into the companies in the public markets because of widespread abuses.
- archildress 8y agoI can argue both sides of this. Most companies have some questionable accounting practices so yes, oversight is necessary. But the cabal of the Big 4 firms is far more dangerous than any individual company's practices. I'm just waiting for the day that the next Enron happens. Been on both sides and I promise everyone, it's a matter of time.