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6/28/2007

corporate governance and guardians

The issue of corporate governance is getting more attention. One principle that must not be violated, and for corporate governance to be effective, is that one cannot allowed the potential thieves to appoint his accomplices to guard the vault. Any system that allows this is flaw. Another principle is to have people who have a vested interest in the money in the safe to be the watchdog instead of people who are making a living as guards. Guards or guardians too may help themselves when the alternative is more attractive. You can always bribe the guards or guardians.

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