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The Economy needs it, but not the politicos. It's perpetual election time with a Congress extremely divided an a cultural war over "values" (excuse me while I use the sick bag!) splitting this country.

After all, Why did the SEC chose NOT to vote for John Biggs, in one of the most bitterly and rancourous votes ever taken by the SEC Board?

My take is that if Biggs had been in charge, all the actual accounting sleights of hand would have been thrown out the window and exposed a much worse picture of the financial state for entire sectors of Corporate America. Just in time for the 2004 elections, countless companies would have had to cry Uncle. ("Pension underfunding wous dites"? "Perhaps Monsieur will have a zest of stock options with that?")

Not a pretty picture; certainly not the one Washington needs right now. How do you wage a war (cultural or otherwise) with a declining economy?
More to the point: How do one stays in power?

Francois
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