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One list that I'm glad we're not on:

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Lucky Loser   Sunday, 01/27/13 07:33:56 AM
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One list that I'm glad we're not on:

http://bit.ly/Vcc1zH

Otherwise it could have led to this:

http://1.usa.gov/1108f2v

For those affected, it appears that the Administrative Law Judge has until the end of this year to render an initial decision (emphasis on the term "initial"), which means that this could drag on for awhile.

In light of the cross border negotiations underway between the US (PCAOB/SEC) and China (CSRC) along with the ramped up internal auditing measures being implemented by the Chinese it's likely that the SEC's order will outlive its useful life. Especially, if this were to get dragged into the courts and the years that would take. Last week I posted a good example of how this is already starting to play out: http://www.secactions.com/?p=4587

In other words, the SEC's effort to force the issue has likely done all that it's going to do. That is, moving China to improve its system. Something that I believe had already been underway, but simply is being pushed to move a little quicker.

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