Election Monte Carlo

Thompson, Duane R.
October 2002
Journal of Financial Planning;Oct2002, Vol. 15 Issue 10, p32
Academic Journal
This article focuses on possible legislative efforts to reform pension, tax and accounting laws in the U.S. By early October, though, the 60 percent or so of likely voters are paying attention to political attack ads, opinions firming up, undecideds fewer, and the pollsters breathing easier. To this backdrop of public disgust with corporate executives and investor alarm over the markets, the U.S. Congress cast aside competing solutions for accounting reform and went with Senate Banking Chairman Paul Sarbanes" alternative, 97-0. Unlike the war on terrorism, partisan politics remain a strong, persistent undercurrent in corporate reform. Although emphasis will be placed on advance notice of 401(k) lockdowns, prohibitions on executive option selling during lockdowns, employee literature on the benefits of diversification in their quarterly reports. The remaining question for financial planners, as public pressure for accounting and pension reform cools down with the weather, is whether the general conflict-of-interest issue can be effectively linked to the Securities and Exchange Commission's broker/dealer exception rule.


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