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Originally Posted by tw
Enron accounting standards had all but destroyed transparency so necessary in today's uncertain times. So what did George Jr's administration do? All but refused to even prosecute Enron. Did nothing to address accounting reasons that made corruption acceptable.
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Signed
Sarbanes-Oxley, the biggest set of new accounting regulations in our lifetimes.
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A company could simply spin excessive debt into an off-balance entity where nobody knew it existed. What was AIG doing? If was creating a spin off company to unload debt; but failed to do that fast enough.
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Can you point to the specific deregulation that made that possible.