Has CEO behavior improved?
uestion: Has CEO behavior improved?
Andrew Ross Sorkin: I do think that CEO behavior has improved, at least on the margin if not more so. We haven’t seen-- you know, it's funny, for all of the financial destruction in the markets that have taking place, you know, this has been a period where we have not seen people get taken away in handcuffs, whether it be on Wall Street or elsewhere. You know, occasionally you hear about an insider trading ring or you know, a warn off, usually some mom and pop in Czechoslovakia that seemed to get, you know, taken away.
But you haven’t hear of big-time CEOs in a lot of trouble. And I do think that one of the things that was going on during the Enron period and why prosecutors were as harsh as they were and I know a lot of people thought they were too harsh, was that they were really thinking about the deterrence factor. And at least so far, when we talk about short memories on Wall Street, at least so far it's working. As I said before, everything comes in cycles and I can't imagine we won't do this all again anyway.
Recorded on: June 3, 2008
Yes, says Sorkin.
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