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Boom Years' Abuses

July 27, 2002

Yes, there should be a firing of the head of the Securities and Exchange Commission ("Use the Presidential Broom," editorial, July 23). The problem is how to make it retroactive to 1994 and include the secretary of the Treasury. As each day goes by and new revelations pop to the surface exposing the greed, questionable accounting tactics and outright fraud that took place within corporate America during the boom years of the 1990s, it is difficult to believe that someone in either the SEC or Treasury did not at least suspect that something may have been wrong in the business world. Was no action taken because of incompetence or was it due to a desire to not "burst the bubble"?

James S. Hart

Redondo Beach

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