Sometimes we get tugged away from the free market by government regulation, but all in all, our economic system pretty much rules the world. But I've been noticing some unsettling trends in business practices. First there were all the Enron, Tyco, Global Crossings, WorldCom fiascos.You know, all the under-reporting of debt and over-reporting of income to artificially inflate stock prices. Lots of stockholders lost lots of money in those companies. Of course this was followed closely by the Arthur Andersen accounting foibles, where that firm apparently went along with a lot of the under-reporting and over-reporting. That's really too bad. It tends to give capitalism a bad name.It makes CEOs look awful greedy. And I would like to point out at this juncture that the vast majority of CEOs out there are not greedy money grubbers.
Now, I am an ardent supporter of capitalism. I truly believe in the free market system.- | July 28, 2016