As we mentioned in another forum, what good is this "sign off" going to do? If I'm an executive that has been fooling the public with faulty numbers thus far, why would I come clean and not sign off on this document. Immediately once that happens the stock price goes to hell, you lose your job (and will probably never work again). Where as if you sign it, no one is the wiser and there's a decent chance you won't get caught. You think 20 years in prison scares anyone, no way, they'll be unlucky to serve 3 years(using their dotcom millions to have F Lee Bailey defend them). This whole thing is a sham nonevent. The market will probably overreact to the upside and then when the first case of someone signing the document and getting away with it comes out the market will be in a terminal toilet. This whole thing is going to make things worse down the road, not better. Nonevent next week, major event next year.
Corporate scandals have been happening forever ago but never so many big ones in such close proximity to each other. I just meant that there may be some peace of mind and perhaps then over time the public fear level may subside somewhat - at least after the sign-offs hopefully the media will stop talking about it so much - they have blown it up to be bigger than it is (a few companies out of 5000+) IMHO and stating the obvious, I guess
Aug 14th and Y2K are not comparable for two reasons: 1) Y2K was flogged to death by the media, Aug 14th gets barely a mention. 2) Y2K was declared over and done with by Jan 2nd, Aug 14th and all the accounting scandals will linger well into next year Thus, the amount of money on sidelines waiting for Aug 14th is minimal and the rate that it will flow into the market after Aug 14th is slow. -Traden4Alpha