Positive response to good news

JITTERY US markets heaved a huge sigh of relief when the bulk of the country’s top chief executives officers vouched for the integrity of their company accounts.

Under the cosh since the Enron and WorldCom debacles, confidence in the integrity of the free markets and free enterprise, which the US regards itself as a beacon for the rest of the world, has been pretty well undermined.

This followed disclosures the success stories of Enron and WorldCom were built on a tissue of lies, malfeasance and connivance by their auditors.