Re: The Reckoning - WaMu Built an Empire on Bad Loans - Series - NYTimes.comworth readingin full

[David Farber <dave () farber net>]

My limited experience with Boards was mainly prior to sarbanes oxley.  
I found the Boards (commercial ones only) spent all their time looking  
at balance sheets and hearing reports from senior management on  
tightly scheduled timing -- little chance for in-depth questions. Many  
NFP Boards seemed the same. I specifically exempt EFF and the Stevens  
Boards where strategy discussions as well as financial play n  
important part of the meetings.

Reading about clamities of the past -- Enron etc seems to support this.

sarbanes oxley and the opportunity for personal libaility seems to  
help a bit.

Dave

Begin forwarded message:

From: Ed Lazowska <lazowska () cs washington edu>
Date: December 28, 2008 2:11:48 PM EST
To: "'dave () farber net'" <dave () farber net>
Subject: RE: [IP] The Reckoning - WaMu Built an Empire on Bad Loans -  
Series - NYTimes.comworth readingin full

The interesting question that the article doesn't really ask is "Where  
was the board?"



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