Sarbanes-Oxley Companies that are privately owned are not required by law to disclose detailed financial and operating information in most instances. They enjoy wide latitude in deciding what types of information to make available to the public. Small businesses and other enterprises that are privately owned may shield information from public knowledge and determine for themselves who needs to know specific types of information.
A photo showed the two individuals who negotiated that agreement. Britain was represented by John Maynard Keynes, a towering economic figure of that era. White was also a Communist agent.
Such a situation was hardly unique in American government during the s and s. For example, when a dying Franklin Roosevelt negotiated the outlines of postwar Europe Tyco company essay Joseph Stalin at the Yalta summit, one of his important advisors was Alger Hiss, a State Department official whose primary loyalty was to the Soviet side.
Over the last 20 years, John Earl Haynes, Harvey Klehr, and other scholars have conclusively established that many dozens or even hundreds of Soviet agents once honeycombed the key policy staffs and nuclear research facilities of our federal government, constituting a total presence perhaps approaching the scale suggested by Sen.
Joseph McCarthy, whose often unsubstantiated charges tended to damage the credibility of his position. The Cold War ended over two decades ago and Communism has been relegated to merely an unpleasant chapter in the history books, so today these facts are hardly much disputed.
In liberal icon Susan Sontag ruefully acknowledged that for decades the subscribers to the lowbrow Readers Digest had received a more realistic view of the world than those who drew their knowledge from the elite liberal publications favored by her fellow intellectuals.
I myself came of age near the end of the Cold War and always vaguely assumed that such lurid tales of espionage were wildly exaggerated. The notion of the American government being infiltrated and substantially controlled by agents of a foreign power has been the stuff of endless Hollywood movies and Tyco company essay shows, but for various reasons such popular channels have never been employed to bring the true-life historical example to wide attention.
The realization that the world is often quite different from what is presented in our leading newspapers and magazines is not an easy conclusion for most educated Americans to accept, or at least that was true in my own case.
For decades, I have closely read the New York Times, the Wall Street Journal, and one or two other major newspapers every morning, supplemented by a wide variety of weekly or monthly opinion magazines.
Their biases in certain areas had always been apparent to me. But I felt confident that by comparing and contrasting the claims of these different publications and applying some common sense, I could obtain a reasonably accurate version of reality.
Aside from the evidence of our own senses, almost everything we know about the past or the news of today comes from bits of ink on paper or colored pixels on a screen, and fortunately over the last decade or two the growth of the Internet has vastly widened the range of information available to us in that latter category.
Even if the overwhelming majority of the unorthodox claims provided by such non-traditional web-based sources is incorrect, at least there now exists the possibility of extracting vital nuggets of truth from vast mountains of falsehood.
Certainly the events of the past dozen years have forced me to completely recalibrate my own reality-detection apparatus. Thoughtful individuals of all backgrounds have undergone a similar crisis of confidence during this same period.
Other companies of comparable or even greater size such as WorldCom, Tyco, Adelphia, and Global Crossing soon vanished for similar reasons. When a system fails so dramatically at its core mission, we must wonder which of our other assumptions are incorrect. Just a few years later, we saw an even more sweeping near-collapse of our entire financial system, with giant institutions such as Fannie Mae, Freddie Mac, Bear Stearns, Lehman Brothers, Wachovia, and AIG falling into bankruptcy, and all our remaining major banks surviving only due to the trillions of dollars in government bailouts and loan guarantees they received.
Once again, all our media and regulatory organs had failed to anticipate this disaster. His claimed returns had been implausibly steady and consistent year after year, market crashes or not.
None of his supposed trading actually occurred. His only auditing was by a tiny storefront firm.
Angry competitors had spent years warning the SEC and journalists that his alleged investment strategy was mathematically impossible and that he was obviously running a Ponzi scheme. Yet despite all these indicators, officials did nothing and refused to close down such a transparent swindle, while the media almost entirely failed to report these suspicions.
In many respects, the non-detection of these business frauds is far more alarming than failure to uncover governmental malfeasance. Politics is a partisan team sport, and it is easy to imagine Democrats or Republicans closing ranks and protecting their own, despite damage to society.
Furthermore, success or failure in public policies is often ambiguous and subject to propagandistic spin. But investors in a fraudulent company lose their money and therefore have an enormous incentive to detect those risks, with the same being true for business journalists.
If the media cannot be trusted to catch and report simple financial misconduct, its reliability on more politically charged matters will surely be lower. The circumstances surrounding our Iraq War demonstrate this, certainly ranking it among the strangest military conflicts of modern times.
Consider how bizarre the history of the s would seem if America had attacked China in retaliation for Pearl Harbor. True facts were easily available to anyone paying attention in the years afterbut most Americans do not bother and simply draw their understanding of the world from what they are told by the major media, which overwhelmingly—almost uniformly—backed the case for war with Iraq; the talking heads on TV created our reality.
Prominent journalists across the liberal and conservative spectrum eagerly published the most ridiculous lies and distortions passed on to them by anonymous sources, and stampeded Congress down the path to war. The result was what my late friend Lt. Comparing these assets and liabilities, we see that the American middle class now hovers on the brink of insolvency, with the cost of our foreign wars being a leading cause.
But no one involved in the debacle ultimately suffered any serious consequences, and most of the same prominent politicians and highly paid media figures who were responsible remain just as prominent and highly paid today.(Results Page 4) View and download transformational theory essays examples.
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