Anyone expressing surprise at the supernova-like explosion of Enron and its accounting firm Arthur Andersen must have been roommates in a cave with Osama bin Laden. Eight or nine years ago, Newt Gingrich and the Contract With America laid the very groundwork by which Enron and Arthur Andersen could perpetrate their gigantic fraud on the public.
The benign-sounding Private Securities Litigation Reform Act of 1995 would enable corporations and their accountants to dodge investor lawsuits.
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