From: michael greco [mikefgreco@yahoo.com]
Sent: Wednesday, June 12, 2002 2:09 PM
To: rule-comments@sec.gov
Subject: Comment on CEO Accountability Proposal

I give great credit to your organization and the Bush
administration for attempting to place accountability
onto the shoulders of CEOs.  Certainly, making any
personal accountable will have the direct effect of
increasing honesty and fair disclosure.  I am,
however, extraodinarily nervous regarding this
specific issue of requiring CEOs to sign off on
earnings reports.  

To be quite frank, how can we expect a CEO to truly
know if the report is accurate?  That's what auditors
are for.  Focus more attention on auditors (as what is
happening to Anderson), and the reporting will be more
accurate.

The other points, such as quicker filing of investor
related items and the disclosure of off-balance sheet
items are fantastic.  But to expect a CEO to warranty
an earnings report is silly.  How many times in
corporate America has a CEO been blindsided by those
serving just beneath him?  Several!  The simple fact
is that forcing this amount of pressure and
responsibility onto a CEO will not eliminate "shady"
corporate actions, but preclude the best of executives
from desiring the top spot.  It's better to earn $2.0
million a year and hundreds of thousands of options
with no responsibility, rather than risk life and limb
for a few bucks more...




=====
Michael F. Greco
GCI Financial Group
174 Maplewood Ave.
Maplewood, NJ 07040
T:  866-493-7700
F:  973-761-5478
P:  973-231-5176

__________________________________________________
Do You Yahoo!?
Yahoo! - Official partner of 2002 FIFA World Cup
http://fifaworldcup.yahoo.com