“The buck stops below the top.”
That might be the lesson chief executive officers learn from the stories of corporate corruption at Homestore and Freddie Mac.
The online real estate marketing company that operates the Realtor.com Web site for the National Association of Realtors and the giant mortgage finance corporation might not appear to have much in common. But their stories are markedly similar. Both admitted they manipulated their financial results to improve profitability and gain undeserved renown on Wall Street.