Trader Mark submits:
This is not so much "funny" as it is sad and probably "educational" to the masses who don’t keep up with Wall Street’s doings on a regular basis. Luckily, Jon Stewart’s research staff seems to have a pretty good handle on the wonderful state of affairs. Judging from the quiet laughter in the crowd, it’s either still above their heads or all new information to them.
I have not even bothered to detail the Lehman Brother findings, but basically it exposes the Sarbanes-Oxley legislation – especially the part where C-level executives must sign off on financial documents and hence be RESPONSIBLE for them – as a complete joke. It also speaks to our complaints about the pathetic oversight of corporate boards in America. If you have not looked up who was on Lehman’s board, it’s worth the Google search. Thankfully, NO ONE appears to be in trouble… even though corporations now have the same rights as humans in Cramerica.