Don't Blame The Dot Com Gang For Corporate Corruption
from the there's-a-difference dept
Over the past few months with all the formerly huge companies announcing accounting fraud one-by-one, many people have been turning and pointing the blame finger at Silicon Valley. Here’s an opinion piece that points out the two situations are quite different. The dot com folks certainly overhyped the potential of their offerings and convinced analysts and investors alike to hype things up even bigger – it doesn’t look like they actively were defrauding investors by cooking the books. People who fell for the hype have themselves to blame, according to the writer, for buying into the hype without looking any deeper at a company’s real prospects. People who got screwed by accounting shenanigans were defrauded by old-time corporate executive crooks who were outright lying.