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November 16, 2009

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Independent Accountant

TS:
I couldn't disagree more. We need to repeal the 1995 Litigation Reform Act and the Stonerridge decision and let the plaintiffs' bar sue away. Why not have mandatory rotation for GE, IBM, Goldman, Fannie, Freddie, etc.? Real rotation, not one Big 87654 to another. There was nothing "missing in the securities laws for providing reasonable assurance that management of public companies ... are taking their financial reporting responsibilities seriously enough', except a lack of enforcement.

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