Word: pitt
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...anyone was having trouble making Enron go away, it was Harvey Pitt, a lawyer who represented the Big Five accounting firms before Bush named him to chair the Securities and Exchange Commission last year. Until the Enron scandal broke, Pitt had waved away demands for stronger regulation of corporate accounting and auditing. There were calls from lawmakers for Pitt to recuse himself from the SEC probe of Enron, but Pitt refused--after a fashion, anyway--saying that such a step would hurt the agency's standing. He added, however, that director of enforcement Stephen Cutler would run the probe anyway...
These rookies, like Pitt, face a rough season. "There could be other Enron-like situations out there," says Arthur Levitt, the activist former SEC chairman. "Financial legerdemain from seduced audit committees, compromised accountants and inadequate standards could certainly crop up again at other U.S. companies." At the moment, the public's best protection against that sort of surprise is other brave whistle-blowers like Sherron Watkins...
...anyone was having trouble making Enron go away, it was Harvey Pitt, a lawyer who represented the Big Five accounting firms before Bush named him to chair the Securities and Exchange Commission last year. Until the Enron scandal broke, Pitt had waved away demands for stronger regulation of corporate accounting and auditing. There were calls from lawmakers for Pitt to recuse himself from the sec probe of Enron, but Pitt refused--after a fashion, anyway--saying that such a step would hurt the agency's standing. He added, however, that director of enforcement Stephen Cutler would run the probe anyway...
...hits, the draw was not a star but a concept," says Paul Dergarabedian, president of the box-office tracking firm Exhibitor Relations. There were exceptions, of course; Ocean's Eleven is on track to earn $200 million domestically, thanks largely to neo-Rat Pack stars like George Clooney, Brad Pitt and Julia Roberts. But not one of the year's Top 10 moneymakers featured an A-list star, unless you count Eddie Murphy's voice in the animated Shrek. Are studio execs wising up? "A lot of people in the movie business don't bother to ask, 'Will the audience...
...rich - recused himself and his chief of staff from the probe, just as designated attack Democrat Henry Waxman was dashing off a letter reminding Ashcroft that he'd received $25,000 from Enronites for a Senate re-election campaign. The exodus may not stop there; Bush SEC chairman Harvey Pitt once did some work for Arthur Andersen, the blind (and document-shredding) accounting watchdog in the drama, and could be next to eagerly recuse himself from ever having to give a press conference on his agency's investigation, either...