The ENRON Scandal Message Board

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Non-Tech : The ENRON Scandal

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To: Baldur Fjvlnisson who wrote (4016)	7/7/2002 3:30:49 PM
From: Mephisto	Read Replies (1) of 5185

The elimination of non-expensed stock option issuance is no longer a top priority for the SEC In fact, current SEC Chairman " Harvey Pitt is against current legislation that would see corporate America expense what is clearly, but perhaps not quantifiably, an expense (stock options). Pitt says, "I would be exceedingly reluctant to reopen this issue. We have so many other things to do. I don't think the non-expensing of options caused what happened with Enron." When considering that Enron wrongfully manipulated its financial numbers and that stock options are indeed an expense that is not recorded within the income statement, it would seem that non-expensing options is exactly the type of thing that caused Enron." Excerpt from, "The Pitt Bull With No Bite Or why Harvey Pitt is unable to prevent the next Enron" By Brady Willett fallstreet.com >>>>>>>>>>>>>>>>>> Maybe, Pitt will lose his job after all!

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