Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (20929)	7/8/2002 2:45:40 PM
From: Raymond Duray	Read Replies (1) of 74559

Re: I am not confusing a possible trading opportunity with a probable LTBH trap. This writer suggests there about 2,000 more of these traps to be exposed between now and year end: denverpost.com Numbers game and blame Flurry of restatements expected By Aldo Svaldi Denver Post Business Writer Sunday, July 07, 2002 - Multibillion-dollar lapses at Enron, Xerox and WorldCom may be just the beginning. "We are going to see an avalanche of (financial) restatements between now and the end of the year," said Allan Koltin, whose Chicago-based Practice Development Institute Inc. is one of the nation's leading consultants to the accounting industry. More than 2,000 public companies are changing auditors following the conviction of Arthur Andersen on obstruction-of-justice charges. And many are changing management after years of shaky performance. Experts say the new auditors and managers will distance themselves from the financial sins of their predecessors, and the adjustments they may make to past financial statements will continue to haunt the stock market and erode the public's trust. """""""""""""""""""""""""""""""""""""""""""""""""""""""" BTW, Arthur Andersen has polished it image, it is now called "Art by Anderse": satirewire.com SUPREME COURT RULES EARNINGS SHOULD BE PROTECTED AS "ART"

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