This isn't the first time a wave of corporate scandals has washed over the country, of course. But the undertow has been particularly nasty. More Americans than ever before have a stake in the stock market, either through direct investment or through retirement plans like 401(k)'s or pensions. So when corporate chicanery sends the market into a tailspin, we all feel it.

NOW asked some people who deal with these issues everyday to help us figure our just what the health of corporate America is right now. Biographies of participants are below.

Carolyn Brancato — William Lerach — Richard Moore — Steven Moore — Alan Patricof — Joanna DeHaven Underwood

		We cut taxes, we changed stock options, we chased wealth. And it accumulated a tremendous momentum that, in at least the last stages, tempted a lot of people to misbehave either out of greed, or envy, or whatever it was. And today we're looking at the ruins of that. --William Lerach; Partner, Milberg Weiss Bershad Hynes & Lerach LLP What we're talking about...is a certain number of companies who perhaps have falsified records, who have traded on insider information, have been inappropriate. That's a very small segment of the corporate scene. --Alan Patricof; Chairman, Apax Partners, Inc.

		Carolyn Kay Brancato An expert in corporate finance and investment trends, Dr. Carolyn Kay Brancato is the director of the Global Corporate Governance Research Center at the Conference Board, a not-for-profit management and marketplace think tank. Previously, she served as director of the Industry Analysis and Finance Division of the Congressional Research Service at the Library of Congress, where she analyzed mergers and acquisitions, leveraged buyouts, and major economic trends affecting U.S. industries for the United States Congress. She has also held prominent positions with the Columbia Institutional Investor Project and the U.S Competitiveness Policy Council. Dr. Brancato developed the major source data on U.S. institutional investment used throughout the United States, and by the Securities and Exchange Commission and the Department of Labor. She is the author of two books: GETTING LISTED ON WALL STREET and INSTITUTIONAL INVESTORS AND CORPORATE GOVERNANCE. Dr. Brancato received her Ph.D. from New York University. Read Dr. Brancato's recent testimony on corporate reform before the Senate Finance Committee Read "Questions for the Board.," an article by Dr. Brancato on corporate board reform.
		William Lerach According to CFO.com, William Lerach is one of the corporate world's 100 most influential people. Mr. Lerach, a partner in the law firm of Milberg Weiss Bershad Hynes & Lerach, LLP, has filed hundreds of class-action lawsuits against corporations, including Enron, on behalf of victimized shareholders, resulting in the recovery of billions of dollars. Mr. Lerach is a frequent commentator and author on securities and corporate law. Mr. Lerach has built a reputation on aggressively suing corporations for fraud in civil court. Mr. Lerach and his law firm believe shareholder litigation holds more promise than the traditional route of Congressional legislation or corporate self-regulation. Read about one of William Lerach's current class-action suits — against Enron. Read a profile of Mr. Lerach by THE NATION's William Greider.
		Richard Moore Elected in 2000, Richard Moore is the treasurer for the State of North Carolina. He is sole fiduciary for over $60 billion in public monies and state investments, oversees the pension funds of nearly 600,000 public sector employees, and is responsible for the management of the public debt of state and local governments. In the wake of the current Wall Street scandals, Mr. Moore gained national recognition for his efforts to protect shareholders. Across the country, pension fund managers have embraced his investment protection principles as a means of insulating investors from corporate abuse. Read Mr. Moore's testimony before the Senate Commerce Committee.
		Stephen Moore Stephen Moore is the President of the Club of Growth, an organization whose aim is to support political candidates who are advocates "of the Reagan vision of limited government and lower taxes." He is also a contributing editor of NATIONAL REVIEW. Formerly the Cato Institute's director of fiscal policy studies, Mr. Moore remains a senior fellow at the institute. In the public sphere, Mr. Moore has served as a senior economist at the Joint Economic Committee of the U.S. Congress and helped construct Representative Dick Armey's flat-tax proposal. He also worked on two presidential commissions. Mr. Moore has authored many books, including GOVERNMENT: AMERICA'S #1 GROWTH INDUSTRY and PRIVATIZATION: A STRATEGY FOR TAMING THE DEFICIT. He is also a frequent commentator on television and a contributor to various newspapers and magazines. Read Stephen Moore's columns from the NATIONAL REVIEW
		Alan Patricof Alan Patricof is the founder and chairman of Apax Partners, Inc., one of the world's leading venture capital and private equity investment firms. Mr. Patricof began his career with the investment counseling firm Schroeder, Naess & Thomas. He was then vice president of Central National Corp., a family investment management company; while at Central National, he founded and became chairman of the board of NEW YORK MAGAZINE. In 1995, Mr. Patricof served as chairman of the White House Conference on Small Business Commission, and during the 1992 presidential election campaign, he was chairman of Entrepreneurs for Clinton/Gore. He currently serves on the board of trustees of the Columbia University Graduate School of Business and is a member of the Council on Foreign Relations. Read a RED HERRING interview with Alan Patricof about the state of the venture capital market
		Joanna DeHaven Underwood Joanna DeHaven Underwood is the founder and director of INFORM, Inc., a non-profit organization that identifies business practices harmful to the environment and attempts to find practical solutions. From 1970 to 1973, she was co-director of the Council on Economic Priorities, an independent organization that researches corporate social responsibility, where she co-authored PAPER PROFITS, a major study of air and water pollution in the pulp and paper industry. The report was among the first to compare various corporate efforts at pollution control and to make the results available to the general public. In 1991, Ms. Underwood was named to Dow Chemical's Environmental Advisory Council, an independent panel that analyzes the company's safety, health, and environmental practices. She was a member of the Eco-efficiency Task Force of the President's Council on Sustainable Development during 1994 and 1995, and currently sits on the board of directors of the New York State Energy Research and Development Authority. In 1997, Ms. Underwood was chosen by EARTH TIMES magazine as one of the world's top 100 environmentalists.
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