Re: Fwd: Why suing auditors won't solve the data breach epidemic

[Jeffrey Walton <noloader () gmail com>]

>  But then again, I really don't know what I am talking about ;)
Neither do I. If I were that smart, I would have went to Harvard for
an MBA - its a license to steal :)

Jeff

On 6/23/09, Nick Vaernhoej <nick.vaernhoej () capitalcardservices com> wrote:
> Jeff,
>
>  Oh I doubt there are anyone left on the planet not aware of standard
>  bonus practice here.
>  But I hope it is also apparent at this point that the solution doesn't
>  scale.
>  Starting out a new business model along the same standards seems like a
>  bad idea to me.
>  But then again, I really don't know what I am talking about ;)
>
>  Nick
>
>  -> -----Original Message-----
>  -> From: Jeffrey Walton
>  -> Sent: Tuesday, June 23, 2009 12:10 PM
>  -> Subject: Re: Fwd: Why suing auditors won't solve the data breach
>  -> epidemic
>  ->
>  -> Hi Nick,
>  ->
>  -> Standard practice in the US. For a 1 trillion dollar example, look at
>  -> the US financial industry. Some companies were run into the ground.
>  -> Amazingly, their executives took performance and retention bonus for
>  a
>  -> job well done.
>  ->
>  -> The only folks who should have received a bonus in the fiasco were
>  the
>  -> CFOs since they managed to get bailout money (ie, TARP) from the US
>  -> Congress with very few strings attached. The CFOs should have
>  received
>  -> an even larger bonus when they managed to keep their bonuses (only
>  new
>  -> executives do not qualify [1]) .
>  ->
>  -> Jeff
>  ->
>  -> [1] Public Law 110-343, Section 111, 'EXECUTIVE COMPENSATION AND
>  -> CORPORATE GOVERNANCE'
>
>  [SNIP]

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