Constant's pations

If it's more than 30 minutes old, it's not news. It's a blog.

Friday, July 22, 2005

Double standards on rule enforcement: One for bloggers, another for the financial reporting and regulatory system

Too bad institutions aren't as serious about imposing discipline on those who leak CIA names, commit war crimes, and violate the Constitution as much as they are willing to impose discipline on bloggers.


Will America get as serious about financial reporting and corporate governance as it is about blogs?

The powers that be are quick to impose discipline on bloggers. I'll believe American firms are "serious about standards" when they impose meaningful discipline on auditors and bookkeepers for botched audits, illusory numbers, and other more egregious violations of standards?


Freedom of the press? Americans have the right to be free. But there are limits.

Especially if you are a member of the media.

We can only wonder what else they are restricted from talking about.

This reminds me of the religious wars where people, in the name of religion, decided that they wanted to impose standards on others.

Indeed, it is prudent to have standards. Let's hope there are more firms that uphold the "rules on blogging". It might send a very good signal about "what other rules" should also be enforced:

  • Corporate governance

  • Internal audits

  • Compliance with DoJ audits

  • Financial reporting

    Standards are good. And enforcement of those standards is excellent. Let's hope American firms apply the lessons to the other areas that affect those in the RNC:

  • Profits

  • Financial reporting and regulatory system

    But RNC shows it wants to be above the laws and free of regulation. Rather, they want to regulate blogs, but not impose consequences on those who spew out non-sense financials or violate the laws of war.