Boy, Pete, talk about your straw man arguments.
First of all, the 'Lemon' analogy doesn't work at all. It would only be analogous if the used car dealer put below the big words that say "Great Buy!" some small print that said, "This car isn't a good buy at all. In fact, it's a lemon." If that was the case, then indeed someone who was foolish enough to buy the car should be stuck with it. Somehow you can't get it through your head that every company reports GAAP results.
You are basically saying that no scam artist should ever be prosecuted because it was the victim's fault. Well government and the public out there doesn't agree with you.
Uh, pgerassi, where it that argument being made? The argument is that every single public company reports results according to GAAP. When those results turn out to be fraudulent, then the people responsible are prosecuted.
Do some companies exaggerate pro forma financials? Yer dang tootin. But as long as they report numbers according to GAAP, there is no harm. It amounts to advertising for the company.
Tell me, every time that you see "New and Improved" on a grocery shelf, do you believe that the product is both New and Improved? |
