Comments on: The “Assault” On Privilege – A US Chamber Viewpoint (And Mine) http://retheauditors.com/2008/04/07/the-assault-on-privilege-a-us-chamber-viewpoint-and-mine/ The Business of the Big 4 Audit Firms Wed, 08 Feb 2012 21:24:11 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: re: The Auditors » Blog Archive » Update (2) – More FAS 5 – More Transparency or More Shilling http://retheauditors.com/2008/04/07/the-assault-on-privilege-a-us-chamber-viewpoint-and-mine/comment-page-1/#comment-153293 re: The Auditors » Blog Archive » Update (2) – More FAS 5 – More Transparency or More Shilling Sat, 05 Feb 2011 20:29:47 +0000 http://76.12.174.187/?p=644#comment-153293 [...] pipes in.  As expected, they are on the side of their corporate management constituency.  Although I agree with their position about erosion of attorney client privilege, I do not agree with their position regarding this privilege when it comes to information requested [...] [...] pipes in.  As expected, they are on the side of their corporate management constituency.  Although I agree with their position about erosion of attorney client privilege, I do not agree with their position regarding this privilege when it comes to information requested [...]

]]> By: re: The Auditors » Blog Archive » @Going_Concern “If I Told You I’d Have To Shoot You…” http://retheauditors.com/2008/04/07/the-assault-on-privilege-a-us-chamber-viewpoint-and-mine/comment-page-1/#comment-23706 re: The Auditors » Blog Archive » @Going_Concern “If I Told You I’d Have To Shoot You…” Wed, 09 Sep 2009 19:43:56 +0000 http://76.12.174.187/?p=644#comment-23706 [...] of America (BAC) is in the news again today. The reason is one of my favorite subjects, attorney-client privilege. From the New York Attorney General’s (NYAG) letter to Bank of America’s attorney, Lewis J. [...] [...] of America (BAC) is in the news again today. The reason is one of my favorite subjects, attorney-client privilege. From the New York Attorney General’s (NYAG) letter to Bank of America’s attorney, Lewis J. [...]

]]> By: Oversight for the Better http://retheauditors.com/2008/04/07/the-assault-on-privilege-a-us-chamber-viewpoint-and-mine/comment-page-1/#comment-507 Oversight for the Better Tue, 08 Apr 2008 21:18:00 +0000 http://76.12.174.187/?p=644#comment-507 I agree that putting employees of Corporations in vulnerable positions is undesirable, but that's the very reason we need to hold those Companies open and accountable. The following is excerpted from It's Time to Build a New Corporate Democracy by Ian Williams (The Washington Spectator, 3/15/08):<br/>"The lax enforcement of existing securities law by the SEC highlights the question: just who are the corporations? In law, and in the traditional mythology of the free enterprise system, corporations are entities owned by their shareholders. But between the SEC, the courts of Delaware, and the federal judiciary, it has become clear that the shareholders have as much power as customers - the power to walk away if they do not like what the CEO and his associates are doing. <br/><br/>The federal courts, in a position as scandalous as their misreading of "original intent" that provides first Amendment free-speech rights to multimillion-dollar political spending, refuse to reconsider the position that the Fourteenth Amendment provides "personhood" and citizens' rights to corporations.<br/><br/>It is usually rights and privileges and not duties that corporations invoke. Corporations litigate their own free-speech rights and even sue for libel to silence their critics. But when was the last time you heard of a corporation being imprisoned, let alone executed, for any crime it committed?"<br/><br/>Unless or until corporations are held to the same legal standards as individuals, no attorney-client privileges. I agree that putting employees of Corporations in vulnerable positions is undesirable, but that’s the very reason we need to hold those Companies open and accountable. The following is excerpted from It’s Time to Build a New Corporate Democracy by Ian Williams (The Washington Spectator, 3/15/08):
“The lax enforcement of existing securities law by the SEC highlights the question: just who are the corporations? In law, and in the traditional mythology of the free enterprise system, corporations are entities owned by their shareholders. But between the SEC, the courts of Delaware, and the federal judiciary, it has become clear that the shareholders have as much power as customers – the power to walk away if they do not like what the CEO and his associates are doing.

The federal courts, in a position as scandalous as their misreading of “original intent” that provides first Amendment free-speech rights to multimillion-dollar political spending, refuse to reconsider the position that the Fourteenth Amendment provides “personhood” and citizens’ rights to corporations.

It is usually rights and privileges and not duties that corporations invoke. Corporations litigate their own free-speech rights and even sue for libel to silence their critics. But when was the last time you heard of a corporation being imprisoned, let alone executed, for any crime it committed?”

Unless or until corporations are held to the same legal standards as individuals, no attorney-client privileges.

]]> By: Independent Accountant http://retheauditors.com/2008/04/07/the-assault-on-privilege-a-us-chamber-viewpoint-and-mine/comment-page-1/#comment-501 Independent Accountant Sun, 06 Apr 2008 20:05:00 +0000 http://76.12.174.187/?p=644#comment-501 I have advocated the end of attorney-client privilege for publicly-held companies for 25 years. I have advocated the end of attorney-client privilege for publicly-held companies for 25 years.

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