(C) BoingBoing
This story was originally published by BoingBoing and is unaltered.
. . . . . . . . . .



Four bankrupt businesses later, Trump wants weaker SEC oversight [1]

['Jason Weisberger']

Date: 2025-09-15

Convicted felon, liable for fraud, and luminous mind behind four bankruptcies, Donald Trump wants public companies to report results half as frequently.

Where is the sense in this? Having served as a senior executive at several public companies, chasing "the number" is a pain in the butt. I have certainly seen folks do outlandish things to try and hit estimates or The Street's expectations; however, I wouldn't recommend less oversight. That is a clownish solution to a problem that doesn't really exist. You can have a fifty- or one-hundred-year plan, and still report numbers frequently enough for shareholders and prospective investors to have a clear idea of what is going on in the business. Reducing reporting requirements will only make it easier for individuals and corporations to commit fraud. Having been held liable for fraud, it is obvious that Trump doesn't like it.

Previously:

• Security chips have not reduced US credit-card fraud

• How many Wells Fargo employees were fired for NOT committing fraud?

[END]
---
[1] Url: https://boingboing.net/2025/09/15/four-bankrupt-businesses-later-trump-wants-weaker-sec-oversight.html

Published and (C) by BoingBoing
Content appears here under this condition or license: Creative Commons BY-NC-SA 3.0.

via Magical.Fish Gopher News Feeds:
gopher://magical.fish/1/feeds/news/boingboing/

You are viewing proxied material from magical.fish. The copyright of proxied material belongs to its original authors. Any comments or complaints in relation to proxied material should be directed to the original authors of the content concerned. Please see the disclaimer for more details.