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Saw this on the box "Bigger than Enron" it was very good.

So you get the US Finacial standards board bulldosed by polis that were bribed by accountants by the way this happened in 93.

"It wasn't an accounting debate," says Jim Leisenring, the vice chairman of FASB from 1988 to 2000. "We switched from talking about, 'Have we accurately measured the option?' or, 'Have we expensed the option on the proper date?' to things like, 'Western civilization will not exist without stock options,' or, 'There won't be jobs anymore for people without stock options.' ... People tried to take the argument away from the accounting to be just plainly a political argument."

"It was the first time that accounting principles had become very, very much influenced by commercial interest and political interest," James Hooton, who was then chief of Andersen's worldwide auditing, tells FRONTLINE. "If you move accounting and accounting standards into the political environment, then you've lost control over whether those standards are the best standards."


It is a very big report & you can see that the polis involved are still power brokers in US.

If you scroll down you'll find much more on the subject.

Not that long ago you'd think they could remember.

http://tinyurl.com/144z


JR
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