| 00:00:20 |
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IT. IN THREE AND A HALF YEARS AFTER ENRON STORY BROKE THE STORY IS STILL IN THE NEWS. WE FIND CITICORP AND J.P. MORGAN JUST PAID OUT $4.2 BILLION...
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| 00:02:21 |
Unidentified Speaker, -
BIWEEKLY COLUMN.
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| 00:02:22 |
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WEDNESDAYS AND FRIDAYS? IN THE "THE
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| 00:02:24 |
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WASHINGTON POST" WREZZ BEEN SINCE 1988 IN VARIOUS CAPACITIES. HE WAS SENIOR EDITOR OF "INK," FOUNDER AND PUBLISHER OF THE "BOSTON OBSERVER." A MONTHLY...
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| 00:04:31 |
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TOPICS. ENRON STOCK SOLD FOR MORE THAN $80 A SHARE IN JANUARY 2001. AND IT ENDED THE YEAR A PENNY STOCK. IN FEBRUARY 2001 ENRON WAS JUDGED THE MOST...
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| 00:58:15 |
Unidentified Speaker, -
DEAL OF RESPECT FOR BILL AND HIS CREATIVE
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| 00:58:21 |
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THINKING AND ALSO HIS INTELLECTUAL HONESTY ABOUT THESE THINGS, AND I THINK IT'S FAIR TO SAY THAT WITH A FEW EXCEPTIONS SUCH AS CALLING FOR MORE CORPORATE...
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| 01:19:05 |
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NOW WITH WILL HEAR PROSECUTE LAURA UNDER WHO, AMONG OTHER THINGS IS CNBC'S GURU ON THE MATTER. >> I WAS. THERE ARE SO MANY DIFFERENT THREADS TO THIS...
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| 01:19:34 |
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AT BERKELEY, ACTUALLY, WHO MANY ALOOKING AT? YOU WERE AT UCLA. WHO SLAMMED BERKELEY? ONE OF THE COURSES WE
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| 01:19:44 |
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WERE TALKING ABOUT THE ANCIENT PHILOSOPHER
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| 01:19:48 |
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FIRST WHO WERE GETTING TOGETHER TO SET UP SOCIETY. AND HOW DO YOU IMPOSE BEHAVIOR ON OTHER MEN'S OF THE SOCIETY SO PEOPLE CAN DEVELOP, INNOVATE, LIVE...
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| 01:24:32 |
Unidentified Speaker, -
REALLY COUNTS ON THOSE GATEKEEPERS, PARTICULARLY IN THE CASE OF LARGE INSTITUTIONS BECAUSE THERE ARE SO MANY EYEBALLS ON THAT INSTITUTION AND ON THAT...
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| 01:40:00 |
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QUESTION. >> MY NAME IS DAVID HEARTS, I LIVE IN ALEXANDRIA, VIRGINIA. I WOULD LIKE TO MAKE A COMMENT. SITTING HERE TALKING ABOUT ENRON AND THE DEBACLE...
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| 01:40:24 |
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EVENTS AND THAT'S HOW THINGS HAPPEN. AND I'M JUST WONDERING IF IN TWO YEARS WE ARE GOING TO BE SITTING HERE LISTENING TO THE SAME REJERGETATION-WHAT...
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| 01:41:06 |
Unidentified Speaker, -
NOT SURE WHERE THAT FITS IN THE
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| 01:41:08 |
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RANGE OF BUBBLES, BUT I THINK IT IS NOT QUITE A BUBBLE YET. AND REAL ESTATE IS NOT REALLY A REGULATED INDUSTRY. BUT I WILL SAY AS A MEMBER OF THE BOARD...
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| 01:42:15 |
Unidentified Speaker, -
THAT WE SHOULD ADDRESS THE -- WE SHOULD ADDRESS THE PROBLEMS OF FREDDIE MAC AND FANNIE MAE SO THAT IF THERE IS A DECLEAN IN -- DECLINE IN REAL ESTATE...
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| 01:43:21 |
Unidentified Speaker, -
HAS THE 10 KNCHING'S UP ON THE INTERNET AND -- 10 K'S UP ON THE
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| 01:43:29 |
Unidentified Speaker, -
INTERNET OTHER REPORTS AND SHOULD THE EXCHANGES OR THE COMPANIES THEMSELVES OR SOMEBODY PUT THINGS UP ON THE INTERNET -- >> THAT RELATES TO LAURA'S
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| 01:43:37 |
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POINT ABOUT REAL TIME. SNIB? >> YOU KNOW, ACTUALLY, I THINK
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| 01:43:42 |
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THE S.E.C. -- AND I HAVE BEEN THINKING AND SAYING THIS FOR YEARS, HAS UNDERSTOOD THAT THE DISCLOSURE REGIME IS COMPLETELY OUTDATED. AGAIN, THIS IS WHAT...
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| 01:43:57 |
Unidentified Speaker, -
CAN'T BACK UP AND COME UP WITH NEW IDEAS AND START OVER SO
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| 01:44:01 |
Unidentified Speaker, -
YOU BUILD ON OLD IDEAS. BUT THERE IS A NEW IDEA THAT IS HARD TO GET OUT OF THE BECOME BUILDING -- I THINK IT'S A GREAT IDEA, BEAUTIFUL. IT RELIES ON...
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| 01:46:37 |
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PROVIDE INFORMATION TO INVESTORS SO THEY CAN BE INFORMED AND WELL EDUCATED. BUT THERE ARE PEOPLE WHO THINK THAT REGULATION IS TO PROTECT INVESTORS AND...
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| 01:47:12 |
Unidentified Speaker, -
DOLLARS. SO C.E.O. READ THIS AND SAY WELL IF THEY MAKE A BILLION, YOU CAN'T MAY ME A MILLION, RIGHT? THEN THE PEOPLE UNDER HIM, HE IS MAKING 10 MILLION,...
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| 01:49:04 |
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I DON'T THINK THE ANALYSIS YOU HAVE
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| 01:49:06 |
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GIVEN US GETS AT THE HEART OF MATTER. THE PROBLEM OR THE PROPOSALS HAVE MORE AND MORE
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| 01:49:11 |
Unidentified Speaker, -
DISCLOSURE AS WE SAID HASN'T WORKED THE THE DISCLOSURE IS TO ADDRESS THE PROBLEM OF DECEPTION OR FRAUD, THE OLD COMMON-LAW
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| 01:49:19 |
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PROBLEM. AND WE HAVE FOUND OUT THAT THE SOURCE
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| 01:49:22 |
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OF THAT PROBLEM TO A SUBSTANTIAL EXTENT IS THE DIFFICULTY OF THE ACCOUNTING BECAUSE IT IS THOUGH THE CLEAR WHAT THE STANDARDS ARE, IT'S THOUGH THE CLEAR...
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| 01:50:42 |
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SOMETHING THAT HAPPENED IN ONE OF THE SCANDALS. SO THAT 8 K REQUIREMENT WHICH IS RULE THAT COMES OUT OF THE LAW, YOU CAN TRACE ENRON TO THIS, ENRON...
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| 01:50:53 |
Unidentified Speaker, -
TO THIS. WORLD CAM TO THAT. ADEL FEEA DID THAT. AND THAT'S WHAT IT IS. IT'S A LITANY OF OK, LET'S MAKE IT ILLEGAL AGAIN TO DO ALL THIS AND WE ARE GOING...
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| 01:51:44 |
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IN THE AREA, I THINK OF ALLOWING POISON PILLS AND, YOU KNOW, STAGGERED BOARDS AND A WHOLE HOST OF OTHER CORPORATE, I THINK GOVERNANCE MEMBERS THAT ...
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| 01:51:59 |
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PERMIT. STO IT HAS ALWAYS BEEN MOST-FAVORED NATION FOR CORPORATIONS. >> WELL, THE DELAWARE COURTS ARE NOW ALL OVER THE MAP ON INTERPRETING SOME OF...
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| 01:52:26 |
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DIRECTORS. SO, I THINK WE WILL SEE HOW SOME OF THAT PLAYS OUT. BUT, YOU KNOW, BILL HAD MENTIONED EARLIER, THE S.E.C. NEVER WANTED TO BE A PARTICIPATE...
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| 01:53:28 |
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AFTER. >> A QUESTION IN FROM? >> DO YOU THINK, AS YOU TALKED ABOUT OR MEDIA COVERAGE WAS TALKED ABOUT AND THE HIGH EXPECTATIONS THAT ALL THESE COMPANIES...
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| 01:54:02 |
Unidentified Speaker, -
MAKE, THE PRICE OF THEIR
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| 01:54:04 |
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STOCK FALLS AND ALL THESE THINGS. DO YOU THINK THAT THAT EFFECT WILL BE MPLE LOOK FIDE AND THEREFORE THINGS LIKE THE ENRON SCANDAL WILL BECOME MORE...
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| 01:54:50 |
Unidentified Speaker, -
BEFORE? >> WE ARE LOOKING AT THE TOTAL MIX OF INFORMATION. IF THE INFORMATION IS SO VAST, YOU CAN'T POSSIBLY SIFT THROUGH IT TO GET TO WHAT IS IMPORTANT...
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| 01:55:30 |
Unidentified Speaker, -
TO SAY GIVE THEM WHAT IS MATERIAL, GIVE THEM WHAT THEY NEED. BECAUSE IF THEY GET IT WRONG, THEN WHAT HAPPENS? IS A HUGE OUTLASH FROM CONGRESS AND...
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| 01:56:30 |
Unidentified Speaker, -
VERY A >>>
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.