What To Learn From Corruption At Enron
Posted by Pejman Yousefzadeh on Thu May 25, 2006 at 11:08:52 PM EST
This qualifies as good advice:
To keep businesses from being treated as personal fiefdoms by corrupt CEOs, Congress needs to empower investors. It needs to preempt state anti-takeover laws that prevent shareholders from kicking out incompetent management and selling the company to the highest bidder. And it needs to repeal regulations that prevent major shareholders from offering their own candidates to replace inept corporate boards in proxy contexts.