I was very impressed with the former chairmans interview on squawkbox today. I agree with his accessment that the people who pulled the backdating scam are cheats and should be punished to full extent of the law. Joe's comment that companies are allowed to do anything they  please seems to be  widely  held as  policy in many of these shady operations.  Not only with  options backdating  but exective pay,  union busting,  and creative accounting  to  hide poor  managment from   the  shareholders.  Shades of enron!