Andersen Drops After Negative Comments From Cramer

from the oh-come-on dept

Arthur Andersen has been losing clients left and right these days in the wake of the Enron (and Global Crossing) accounting scandal. So it’s a bit surprising to hear that they have decided to reject the business from following negative statements about them made on CNBC by TheStreet’s founder and very outspoken columnist, James Cramer. If anything, this just suggests to me that Andersen doesn’t have the slightest clue what unbiased auditing means. Cramer acted as an independent analyst should act: calling it as he saw it. If Andersen called it as they saw it instead of saying exactly what their clients wanted to hear maybe they wouldn’t be in this mess right now. Update: Cramer’s response to this: “I’m not the one who shredded the documents… and I’m not the one who can’t see right from wrong.”

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Comments on “Andersen Drops After Negative Comments From Cramer”

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Alan Brown says:

Anderson, unbiased? bwahaha

FWIW, they were right in the middle of the deLorean scandal 20 years ago too.

They pretty clearly have a corrupt corporate culture. The very telling thing will not be who leaves them, but who stays.

After all, if crooked customers go elsewhere, their bad dealings get exposed – and they can’t afford that any more than Enron could.

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