Friday, September 22, 2006
Bring Out Your Dead
The continuing scandal of capitalist business as usual or unusal in this case.We have gone from accounting scandals, cooking da books as it is called, with Enron. And there is just plain good old fashioned racketering and fraud as we have with Lord Black. And now we have the scandal of backdating of stock options for corporate executives. Major companies are being investigated by the SEC and the U.S. Attorney. But this one takes the cake....
In a regulatory filing made Thursday, Cablevision disclosed that it had granted options to an executive after his death, but improperly recorded the date of the grant to an earlier time when the executive was still alive.
Primitive Accumulation of Capital
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