Monday, November 26, 2007

More From 'the SEC's Alarm Clock'

Chris Byron once referred to the financial press as the "seeing eye dogs" of the SEC. That description was and is apt, but I think another title is equally apt -- the "SEC's alarm clock," which I hereby bestow on reformed felon Sam Antar, who has been doggedly pursuing possible accounting irregularities at my favorite corporate train wreck, Overstock.com.

Sam's latest post, which can be found here, explores possible violations of SEC Regulation G.

There is really only one intended reader of that post -- the SEC -- as I trust that most people who buy Overstock shares aren't doing so because of the majesty of its financial statements. The question is whether the SEC will wake up, now that the alarm clock has sounded, or once again push the "snooze" button.

© 2007 Gary Weiss. All rights reserved.

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Wall Street Versus America was published by Penguin USA on April 6.
Click here for its Amazon.com listing and here for more information on the book, from my web site, gary-weiss.com.

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