Rodent Regatta

...on all public companies.

U.S. stocks fell Thursday, with flat revenue for Dow component General Electric and a quarterly loss for Yahoo buffeting the market. IBM shares hit a 52-week low on talk of an SEC investigation. [Wall Street Journal]

I don’t doubt that the principles of accounting have been pretty badly stretched, if not broken in two, at a few companies. I’m also convinced that ”managed earnings” are a distortion of solid accounting practice. But, does anyone really think the SEC can make it all better?