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Politics : PRESIDENT GEORGE W. BUSH
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To: G_Barr who wrote (271939)7/9/2002 3:53:38 PM
From: Bill  Read Replies (2) of 769670
 
<< It shouldn't take a Harvard MBA to know that you can't loan money to insiders to buy a subsidiary and book it as a profit. >>

I'm not sure you're correct about that, at least relative to the arms-length transaction rules of the 1980s. LBOs by insiders were very common at the time and I believe a sale of that kind of asset is almost always accounted for as profit.
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