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To: M. Frank Greiffenstein who wrote (1226)	2/27/2001 3:47:45 PM
From: Elsewhere	of 24758

An article in the business section discusses the huge employee option overhand and how this artificially inflates earnings in tech stocks. Yes, the latest Barron's edition also has an article about it: Barron's Online February 26, 2001 Other Voices: Fantasy Accounting New financial reporting standards distort reality By DAVID ROCKER ... The final positions on both options and goodwill accounting are vastly different than the FASB's initial proposals. The FASB has simply caved in to extensive and persistent lobbying by corporations and investment bankers that would benefit from such weakened standards. The U.S. has held up its accounting as a model for the rest of the world, claiming that accuracy and rigorous regulation have made our markets the safest, broadest and most efficient in the world. If the FASB has come to stand for Fantasy Accounting Serving Business, our accounting will be unworthy of emulation. interactive.wsj.com

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