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Pastimes : All Clowns Must Be Destroyed
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To: patron_anejo_por_favor who wrote (31307)5/4/2000 8:07:00 PM
From: pater tenebrarum  Read Replies (1) of 42523
 
ho ho ho...without the pooling of interest trickery, no more managed earnings. i wrote a letter to the FASB urging them to do away with it. i think it's a chicanery that invites uneconomical activities with the sole purpose of manipulating earnings and thereby the stock price. believe me, every merger that makes economic sense will take place under purchase accounting as well. but at least we'd know what it really costs.
really, take away pooling of interest accounting and the ESOP tax credits from the hi-tech giants, and their earnings largely disappear.
it's nothing but a giant pyramid scheme...like a state within the state, they are printing their own money.
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