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President Says “No SEC Rules for You”

According to MSNBC, on May 5, 2006, the president signed a memo granting John Negroponte the authority to excuse publicly traded companies from their usual accounting and securities obligations. Examples of these kind of obligations include, but are not limited to: Keeping accurate books, records and accounts Maintaining systems of internal controls via MSNBC

Now, I’m no accountant, but I do know what GAAP is and this seems really fishy to me. According to MSNBC, on May 5, 2006, the president signed a memo granting John Negroponte the authority to excuse publicly traded companies from their usual accounting and securities obligations. Apparently section 13[b][3][A] of the Securities Exchange Act of 1934 amendment allows for this. Examples of these kind of obligations include, but are not limited to:

  • Keeping accurate books, records and accounts
  • Maintaining systems of internal controls

via MSNBC

Take that RIAA

As I am sure you all know, I am an Apple freak. Now that we are clear on that, it looks like the record labels may finally give up on their quest to get ‘variable pricing’ on the iTunes Music Store. via New York Post

As I am sure you all know, I am an Apple freak. Now that we are clear on that, it looks like the record labels may finally give up on their quest to get ‘variable pricing’ on the iTunes Music Store. Thank you Steve. All Hail the iPod!

via New York Post