Bush and SEC think corporate failures are all the fault of investors

Class action lawsuits are all the fault of investors and have nothing to do at all with getting ripped off by greedy executives who propped up bogus data to make their companies look hot. Uh huh. Damned investors! How dare they ask for real data that is accurate. How dare they ask for accountability when a company crashes. Having participated in a class action lawsuit against a book-cooking bunch of swindlers and over-paid incompetent execs, I only received pennies on my investment but I still believe this sends the right message to companies that manipulate the books for the greed of a few individuals.

If I was investing in a private company, I would understand that the rules are different. If I was investing in developing country, I would understand that it's not Wall Street and the risks are high. However, if companies want to compete in the public market and accept the riches that comes with being listed in New York and not Buenos Aires, accept the conditions or de-list. The Bush/SEC whining about regulations making American companies uncompetitive is bull. Having a strong system that is regulated and monitored helps everyone. We don't need to look further than the subprime situation to see what happens when hundreds of billions are thrown into an unregulated environment. Some competition, huh?

Quit the crying and get serious about business for goodness sakes.