Former SEC chief blames problems on short-term earnings focus

09/18/2008 | Financial Week

Former Securities and Exchange Commission Chairman William Donaldson said a focus on short-term earnings led to current Wall Street problems. "The excessive focus by too many corporations on achieving short-term results, fanned by the practice of ceding to demands for regular guidance and forecasting, such as quarterly results, certainly is one of the root causes for some of the problems we face today," Donaldson said.

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