Tuesday, May 17, 2005

And We Think The SEC is Intrusive (From Overlawyered)

Here's the unbelievable story of the day (from Overlawyered):

... "In an attempt to crack down on insider trading, the directors of companies quoted on Spain's stock exchange will have to come clean, on a twice-yearly basis, about anyone with whom they are having an 'affectionate relationship'. ... Company directors must also provide information about their wives or husbands and family, but it is the idea of a 'lovers' register' -- in which bosses could have to admit to having affairs or out themselves as gay -- which has sparked reactions ranging from disbelief to fury among businessmen." (Tony Jefferies, The Scotsman, May 12; Giles Tremlett, "Bosses told: list assets -- including lovers", The Guardian (UK), May 11; Amaya Iribar, "When love is a conflict of interest", El Pais/INA Daily, May 16).

I think Spitzer is pushing for this as part of his inevitable upcoming political campaign.

Update: Warren Meyer at Coyote Blog has a better idea:
...Knowing a few Spanish gentlemen, though, I wonder if there will be some who will have the tendency to exaggerate and tack on names. I would be tempted to submit a list of all the wives of male Congressmen. I guess I should start working on my submission in case this approach is adopted by the SEC. Lets see now ... Paris Hilton, the Olsen twins, Laura Bush, Maria Shriver, Martha Stewart, Lassie, the Little Mermaid, ...
click here for the whole thing.

I like the idea, but once the list was disclosed, I'd have a hard time explaining Ariel to my kids (or Paris Hilton to anyone with any sense of taste whatsoever...)

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