Finally the dots have been connected and the lines drawn, and leave it to The New York Times to be the one to print it. With their reputation for unbiased reporting it is assured now that the world will have to accept that Ronald Reagan is the root of all blame for our current mess. I wonder how many years we will have to wait after this current administration is gone for someone from the NYT to write an article actually laying some blame on Obama for some of our current and future woes and misdirection? I doubt if I live to be 100 I will have enough years in me to see that. But the media does have a habit of turning their back on people once they have outlived their usefulness. Watch out Big O.
I did find one counter point (I'm sure there are more), but having had to endure managing an operation during implementation of a lot of the Sarbox regulations, I agree with the very last 2 paragraphs completely. It did nothing but make accountants and managers more creative at circumventing the real issues. At the end of the day, the board only wants to see how good and profitable their business units are going to be and it became acceptable to polish the numbers to make them more favorable (i.e. lie about it). So here we are today. If I were a smart fellow I would have seen this coming from miles away. But one look at my 401k will tell you my IQ isn't where it could be. What was going on was wrong and it turns out my little piece of the world wasn't the only ones practicing these dirty deeds. There IS a lot of blame to go around. Follow the greed and irresponsible behavior and that is where the blame should be laid.