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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 72.32

-2.9%

3:59 PM EST

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To: i-node who wrote (56933)	1/31/2002 9:44:13 AM
From: RetiredNow	Read Replies (3) of 77397

Yes, that is exactly what I've been saying, although you put an interesting spin on it. Pay to a pool and then the pool pays the auditing firms. But how would those firms remain competitive? Maybe based on price or services. Make the pool organization shop around for the best auditors at the best price, but then things can get politicized. Tough problem. That's why sometimes the government can provide a better more objective oversight committee. Too bad the government only attracts the morons of the industry. Hope that statement didn't piss too many people off, but that's the truth. You get what you pay for and many gov't employees are underpaid. That's why you usually get the top 10% accounting students at the Big 5.

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