The unemployment rate is now above 10% in the US

S-O regulates all public companies. But if you need something more specific

http://www.metrocorpcounsel.com/current.php?artType=view&artMonth=July&artYear=2006&EntryNo=5311

 

sigh.

S-O regulates accounting standards.

It doesn't say what banks can or cannot do. Nowhere in there is there regulation of financial activity.

It only gives more exacting standards for corporate financial reports, or in other words the reporting of bank activity and profits. However, it in no way hinders the ability of the banks to pursue these activities, unless you want to pitch me the laughable sidebar of "exorbitant compliance costs" of having people who know accounting on your board of directors, and of having a more rules-based accounting system.

 

I understand what it does. I suggest you go read up on it.

 

Considering I have a concentration in accounting, and I am in consultation with several CAs and several CAs in training on a regular basis, I know more than enough about S-O for the purposes of this discussion, thank you very much.

Apparently, you don't know it enough to know to not to cite it as an example of regulation of financial activity. It is regulation of the reporting of said financial activity. point finale.

 

Are you effing kidding me?

Please look up Gramm-Leach-Bliley and report back on what you found...

 

because in any recession the first people to lose their jobs are women and minorities.

 

hilarious, sixty minutes last night was talking about how dick cheney absolved hydraulic drilling from epa regulations. they were talking about the use of fracking in the new shale plays for natural gas. dick cheney of course did this for haliburton.

see the sixty minutes on replay, i believe you can, and see how this has affected some communities