Thursday, August 10, 2006

The destruction of Arthur Andersen

On March 22nd, 2002 I published this letter on the Op-ed pages of the Milwaukee Journal Sentinel:

"The recently announced blanket indictment of Arthur Andersen is not appropriate or beneficial for anyone.

With the comprehensive nature of this indictment, the Department of Justice has chosen to imperil an 89-year-old institution and the livelihood it provides for tens of thousands of innocent Andersen employees, including around 650 Wisconsinites.

How will former Enron Corp. employees receive "a bit of solace" - as the March 15 editorial "First blood in Enron debacle" put it- if other blameless people join their ranks?

Two wrongs never make a right, and the indictment of the whole Andersen organization by the Department of Justice, for incidents that Andersen itself reported to the department, is already drawing suspicion in the court of public opinion.

Stay tuned."

Post Script: On May 31st, 2005, the United States Supreme Court unanimously threw out the Arthur Andersen conviction.