Yes, we are all very concerned about accounting practices in the US, and especially about Arthur Anderson selling its "integrety" for rich consulting fees and helping its client cook the books to the detriment of investors. It seems that the "public" responsibility of certifed PUBLIC accountants is regarded as a joke by some firms.Personally I think the risk is greatest at those companies that have been most aggressive--the noveaux riche of companies if you will. I would go with good old blue chip stocks for now. Most of those are satisfied being industry giants and have little need to cook the books.Government bonds pays such low yields at this point, CDs might be a better investment, but by all means avoid bond funds while interest rates are at historic lows. Investment grade corporate bonds held to maturity can be OK.
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