Opinion

Annus horribilis, take two

Draconian legislation epitomises another harrowing year in the corridors of the corporate world.

10 December 2002

We entered 2002 inauspiciously enough with the Enron scandal dominating the headlines. This proved not to be an isolated incident of poor corporate governance though, and pretty soon more followed, in the form of Worldcom, Tyco and others.

These scandals delivered massive body blows to corporate USA`s confidence and reputation that it may well take a generation to recover from. That`s bad enough, but making it worse has been the overarching zeal with which the politicians and regulators have taken to the matter.

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