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Re: Fwd: Why suing auditors won't solve the data breach epidemic Jun 24 2009 05:17PM
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 (at) capitalcardservices (dot) com [email concealed]> 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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