Word: sec
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...legislating clawbacks. The Sarbanes-Oxley Act, passed in 2002 in the wake of accounting scandals at Enron and other companies, required CEOs and CFOs of companies that have to restate earnings because of financial misconduct to pay back bonuses and incentive compensation. But that provision proved largely ineffective. The SEC didn't bring a case under this provision for four years, and when it finally found success - UnitedHealth's former CEO was forced to pay back more than $400 million worth of stock options gains, unexercised options and retirement pay after a stock options backdating scandal - the courts ruled that...
Henry Kissinger Former Sec. of State...
...listen to on the site or share with your buddies. Say, for instance, you're hankering for some Coldplay. Create a playlist, drag and drop all four albums, and you're good to go. The full-length songs stream at something less than CD quality (128 kilobits per sec.), but it's good enough on a computer...
...person, above all others, to spend time pointing fingers at? "I don't think the commission has done as strong a job as it should have, but it wasn't asleep at the wheel," says Joel Seligman, president of the University of Rochester and an SEC historian. "To suggest that Christopher Cox is responsible for what has happened is to trivialize some very serious economic forces." (See TIME covers about Wall Street throughout the years...
...provides few incentives for scrupulous truth-telling. Candidates simply don't suffer for making false claims, unless those claims become part of a narrative that casts them as untrustworthy. Even then, they often choose to keep running the offending ads, knowing full well that the power of a 30-sec. spot will always outweigh media oversight. And the potential upside of making false claims about an opponent can be great, especially for a candidate who finds himself behind...