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It is beyond dishonest to pretend that rules can be written to prevent future financial scandals; it is fraudulent.
But in hearings last week, Senator Patrick Leahy, the Vermont Democrat who is chairman of the Judiciary Committee, said that in opposing the legislation seven years ago he had warned "that its special legal protections might lead to future financial scandals".
Regulators want to prevent future financial scandals and ensure that financial advice is given with the client's best interest in mind.
The bill, which was supported by both parties, with the urging of small and big businesses, passed fairly easily, despite long and loud complaints from many quarters that the act would break down investor protections left and right, setting the stage for future financial scandals and crises.
Similar(56)
He added: "The legal and regulatory framework that Geithner leaves behind for preventing a future financial crisis inspires little confidence, especially amid scandals emerging almost weekly at banks too big and complex to manage, regulate, police and fail".
Mr. Anderson began his career as an accountant at Lockheed and was named chairman and chief executive in 1977, when the company was mired in political and financial scandals that threatened its future.
Financial scandals plagued U.N. operations in Cambodia.
■ Future financial commitments.
Some are mired in financial scandals.
There will be financial scandals, scandals around nepotism and there will be failures, I said.
The financial scandals could begin to look still uglier.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com