Whose Side Are They On?

Keep your eyes on the US Congress the week of June 25th…

“The appearance of all five SEC commissioners before the Financial Services Committee the week of June 25 is an unusual break from recent practice. In the past, the agency’s chairman, Christopher Cox, a former Republican House member from California, has handled questions from his onetime colleagues alone. This time, the agency’s three Republicans (including Cox) and two Democrats, who clash on such issues as financial penalties for corporate wrongdoers, will field inquiries individually.”

Looks like Mr. Cox is under some pressure.

The Big 4: Too Big to Fail?
Is PricewaterhouseCoopers the next Andersen?

Tyco International has agreed to pay $3 billion to settle shareholder lawsuits. What does that mean for Tyco’s auditor, PricewaterhouseCoopers?

PWC is getting sued for billions — which could crush the firm. And don’t hold your breath for liability relief from Washington, Financial Week’s Andrew Osterlund says. “SEC chairman Christopher Cox, already under fire for what some critics describe as steering the commission in too business-friendly a direction, may be less willing to take up the issue.”

I’m glad I didn’t have to make the point… Ooops, Maybe I already did!