It now seems so easy for corporations to falsify profit reports (and so unlikely that outside auditors will succeed or even try to catch such shenanigans) that it’s time for the federal government to set up some sort of watchdog agency to make sure that publicly-traded companies don’t cook their books or wildly over-extend themselves. Maybe they could call it like the securities commission or the securities and exchange commission? You know, a watchdog outfit that could give everyone confidence that this sort of funny business could never happen.
