The NatWest 3 may be guilty, although I suspect that their crime was against their UK bank, rather than Enron shareholders, but under SOX, other UK businesses may find themselves prosecuted for minor infringements of US laws. That’s what I object to.

Capitalism cannot survive unless rip-off artists are punished. A lot of American employees and small investors were ruined by the illegal shenanigans of Enron. I’d frankly rather be beaten up by a street thug, as I’d heal in a week or two, than have my life savings pissed away by amoral greedy businessmen. if British companies do not want to do business in America, that is certainly their right. But if they do, then play by the rules.

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This is scaring the crap out of the Americans – and a lot of the Republicans never liked SOX to start with because it puts such strains on business. So I wouldn’t be surprised if it gets rewritten at some point.

That said, I think that’ll be less likely if the Democrats get their majority in November. Every silver lining I guess.

As for the Natwest3, it is a disgrace, since, as they have said -“If we have coomitted a crime, it was in Britain, and would be against British law – will someone PLEASE prosecute us?”
Deafening silence.

Something badly worng here ….

I think the really scary bit is that dead witness though…Wasn’t there one at the beginning of this scandal?

It will be interesting to see if French or German executives are extradited to the US for breaking US financial regulations. As yet, I don’t know of any such cases but as the regulations have only just come into force, it may be simply a matter of time.