PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Charles Tutt who wrote (286012)	8/12/2002 3:47:07 PM
From: jlallen	Read Replies (1) of 769670

The reason that reform is now necessary is because people, like the CEO of Tyco, Kozlowski, took advantage of ambiguities in the law to disguise compensation as "loans" which are accounted for differently. Huge sums were involved. In the case of Tyco something approaching $50 million was booked as a loan and written off. Those type of sham loans and the accounting gimmicks are what need to be reformed. Not real loans which were actually paid back, like the Bush loan. Maybe they need to all be banned to insure crooks don't repeat the Tyco experience but I 'd hope to find some middle ground.

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