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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Logain Ablar who wrote (74884)	1/30/2000 10:50:00 PM
From: Knighty Tin	Respond to of 132070

Tim, IBM is certainly masterful at making accounting silk purses out of their sow's ears operating results. <g> The reports the auditors were seeing were allegedly falsified by a small broker out of Columbus, Ohio called FAM. But, then, they have auditors and SEC regulators, too, so somewhere along the line, somebody missed something. However, even back in 1984 when I was starting my Govt options and futures fund, the auditors and SEC regulators we saw knew nothing about options and futures at all. However, they were smart enough to call upon the folks at the CFTC who did know a little bit about these things and they were a major help to all concerned. While the SEC was worried that I was way too aggressive, the CFTC couldn't believe that such a conservative strategy could make money. <g> And the auditors tried to learn about futures and options by listening to me for an hour or two, which just ain't gonna happen. <g>