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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: patron_anejo_por_favor who wrote (147037)1/30/2002 9:15:23 AM
From: reaper  Read Replies (1) of 436258
 
<<Mr. Maramarco, the Babson fund manager, said his company had had visits in recent days from two top accounting analysts at Wall Street firms. "Both these people, who clearly know balance sheets and income statements inside out, have thrown up their hands," he said. "They say there are so many ways for companies to obfuscate their financial statements and have their accountants sign off on it that they don't have a chance." >>

This is absolute, unadulterated friggin' bull-&^%&. You can only name the smallest handful of companies that have had accounting issues that members of this board were not all over. The mutual fund industry is doing their best to pass the buck here -- let's hope for investors' sake that these moron leeches fail.

And fwiw I AM an accounting analyst (though not a "top accounting analyst at a Wall Street firm") and I have "thrown up my hands" as well -- in victory over having exposed these frauds.

Cheers
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