Saturday, January 31, 2004

OECD "Governance" Solicited Commentary

Time is short, but I'm commenting formally to the OECD Steering Group on Corporate Governance. It is good practice for my two submittals to the SEC. Let me know if any of you would like to be listed as co-submitters to the SEC. There won't be proper time for you to review my OECD work, due next week, but there is a couple of weeks of time for the SEC scene. The focus is method, not rules, now dominated by Ashby's intelligence amplification procedure (mathematical physics, algorithm, recursion).

The 404 escalation has already turned up enough so that you will be getting the indicators through your normal media. Cronies are stuffing my inbox. I haven't a clue as to the collision outcome. History says to bet on the corporate elite. Railroads operated by the "robber barons" were legally making fortunes while ignoring safety. In 1890 alone, train accidents killed 6,000 and injured 35,000. There was an average of 52 head-on collisions per day. The carnage continued for another two decades.

Well, in these times, the robber barons don't run society. Watchdog barons stand to make windfall profits from 404. It's an election year and the public has had it with management fraud. Any politician, any judge, caught diluting 404 will lose his job. You tell me how this will play out.

I have studied several pages of recent commentary made by your English financial watchdog, John Tiner, of your FSA. After several rereads, I still can't find substance to what he said about anything. He has 2,300 staff. I will pray for you.