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Harvey Pitt fights back

机译:哈维·皮特(Harvey Pitt)反击

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The accounting scandal at WorldCom has caused misery for investors, creditors and employees of the telecoms firm. Harvey Pitt appears to see it as a great opportunity. In his first ten months as chairman of the Securities and Exchange Commission (SEC), America's chief markets regulator, Mr Pitt has been attacked for failing to show leadership in tackling the glaring failings of Wall Street and of America's corporate bosses. Critics accused him of dragging his feet because, they alleged, conflicts of interest led the securities lawyer to put his former private clients-espe-cially the big audit firms-before the public interest. WorldCom has given him a chance to show that he is in charge and on the right side. "There's a very tough cop on the beat here," thundered Mr Pitt on any television show that would have him, after WorldCom admitted on June 25th that it had falsely boosted profits by $3.8 billion. Promising to "clean this mess up", he announced that the company would be prosecuted for fraud, and that the SEC would go after the millions of dollars that executives earned as a result of their own fraud. "The American public is outraged," he says. "And in my view, criminal charges may be too good for the people who brought about this mess." His conversion has prompted much scepticism, not least among Wall Street folk surprised to hear such black-and-white statements from a man so nuanced in the shades of grey that make up America's securities laws.
机译:WorldCom的会计丑闻给电信公司的投资者,债权人和雇员带来了痛苦。哈维·皮特(Harvey Pitt)似乎将其视为一个巨大的机会。在担任美国首席市场监管机构美国证券交易委员会(SEC)主席的头10个月中,皮特先生因未能在解决华尔街和美国公司老板的明显失败方面发挥领导作用而遭到抨击。评论家指责他拖脚,因为他们声称,由于利益冲突导致证券律师将他的前私人客户(尤其是大型审计公司)置于公共利益之前。世通公司给了他一个机会,表明他在负责并且在右边。皮特在任何有他的电视节目中都惊叹道:“这是一个非常艰难的警察。”在世通公司6月25日承认它虚假地将利润提高了38亿美元之后,皮特在任何电视节目中都大声疾呼。他承诺要“清理这起混乱局面”,他宣布该公司将因欺诈行为而受到起诉,而美国证券交易委员会将追究高管人员由于自身欺诈而赚取的数百万美元。他说:“美国公众对此感到愤怒。” “而且在我看来,对造成这种混乱的人来说,刑事指控可能太好了。”他的conversion依引起了很多人的怀疑,尤其是在华尔街的人们中,他惊讶地听到一个人的黑白表白,这种人在构成美国证券法的灰色阴影下显得微妙。

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