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Who Should Pay Stock Doctor Bills? (Part 1)

6 December 2007 - Features - Editor

All medicine seeks to arrive at diagnoses, and proceed from there to treatment and management. That is why credit rating agencies and all auditors should be considered as stock doctors. Owners of funds depend on them to find out about the management abilities of entities who bid for funds. Auditors should assure us that our lent resources are used appropriately. What happens at a pre-medical before you finally get a new job? The doctor must assure a prospective employer that you are fit to discharge responsibilities, and that you will not become an unplanned drain on the organization’s stocks. Employers invariably choose doctors for pre-employment checks, and foot the bills as well. This is because an employer cannot take the risk of a nexus between the physician and a prospective employee.

Companies pay for credit rating agencies and for auditors. The IRS is a notable exception because no money can keep these guys from pouring through your books of account! Seriously, the growing incidence of corporate crime should raise eyebrows about how effective credit ratings and audit reports really are. Global stock investing has become inextricably linked with the pronouncements of these agencies and accountants, but public confidence in their infallibility and integrity are moot issues at this time.

The Real Culprits of Stock Crimes

Not every organization can aim to become a credit rating agency. All Certified Public Accountants can check accounts, but the firms used by corporations with some of the most popular stocks now seem to be involved in a string of shady deals. These include buying debts that had obviously not been scrutinized by any professional standards. Some executives from these firms have been asked to leave, but only with packages that would make continued employment a mug’s game! Insider trading in stocks and malfeasance with resources of large financial corporations, have resulted in jail terms for the once high and mighty, but how many credit rating agencies and auditors have been punished?

Credit ratings and audits are profitable vocations. You can make millions by telling others what you think about the assets and operations of others, but you walk away unscathed when your evaluation blows up in the faces of your customers! Why do more people not enter this lucrative con game? You guessed right if you have thought of the endless corridors of federal authorities as a formidable entry barrier for new and superior credit rating and audit professionals in to the service of the investing public! Washington loses no time in taking its tax share when you make gains from stocks, but where are the wise men and gracious ladies when a stock price nose dives?

Who Should Pay Stock Doctor Bills? (Part 2)

 


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