PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: jlallen who wrote (272683)	7/10/2002 2:49:58 PM
From: DuckTapeSunroof	Read Replies (2) of 769670

Wrong! Re: "Even a pinhead like you should understand this. However the timing of the event, the profit the company realized was "actual" because it did in fact receive the $$$." >>> Doesn't matter pinhead. The Feds (the 'cops') said it wasn't a legal profit. Therefore: not profit. No longer reported on the books. Re: "Ergo, the situation is not comparable to ENRON or Worldcom where the accounting difference was to dummy (never realized) profits and led to a complete collapse of the company." >>> Wrong. Situation was analogous as both Enron and Harken USED THE SAME ILLEGAL TECHNIQUE! They trumped up a phony profit (disallowed by regulators) by selling to themselves at a phony price.

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