On July 6, 2006, SEC Commissioner Paul Atkins spoke at the 11th Annual Conference of the International Corporate Governance Network (see www.sec.gov/news/speech/2006/spch070606psa.htm).The ICGN is a U.K. nonprofit that aims to "develop and encourage adherence to corporate governance standards and guidelines, and to promote good corporate governance worldwide." What a great audience to come before to display how this most powerful regulatory agency is committed to protecting the capital markets!

Atkins stepped up to the podium with this statement: "The title of this conference, 'Creating Value - Building Trust' is refreshingly upbeat." He then uttered the standard disclaimer that the views he was about to express were his own and not the commission's, which is fortunate because he went on to tackle an issue that he does not understand and took a stance that represents the worst of the weak attitudes demonstrated by today's leaders in the financial markets.

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