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Politics : War -- Ignore unavailable to you. Want to Upgrade?

To: D. Long who wrote (11727)	2/21/2002 5:31:29 AM
From: GUSTAVE JAEGER	Read Replies (2) \| Respond to of 23908

Re: ...the Palestinians have not, do not, and most likely will not possess the institutions and core beliefs necessary for prosperity. Well... according to EU bureaucrats, the US lacks the proper "institutions and accounting practices" necessary for a healthy business environment... They even call for scrapping your GAAP cookbook: Accounting rules in US under attack from Europe Brussels urges regulator to scrap its system in wake of Enron's collapse writes Francesco Guerrera and Peter Norman in Brussels Published: February 20 2002 20:32 \| Last Updated: February 21 2002 07:22 The European Commission on Wednesday launched an outspoken attack on US accounting rules, calling on US regulators to scrap its accounting standards in the wake of the Enron collapse in favour of an alternative system to be used in Europe. In an interview with the Financial Times, Frits Bolkestein, European internal market commissioner, said the Enron scandal was due to more than "hanky-panky" at the energy trading giant and had been partly facilitated by the "cookery book" approach of US accounting rules. He also warned that the small number of global accountancy firms could increase the danger of collusion among auditors. "I have asked accountants: was [Enron] just hanky-panky or did the particular nature of US GAAP [Generally Accepted Accounting Principles] enter into the whole game? The answer is yes, it had something to do with the rules of US GAAP," the commissioner said. The intervention of Mr Bolkestein, whose responsibilities include Europe's financial services markets, will be seen as a direct attack on the US regulatory authorities, which have so far refused to allow companies listed in New York to use International Accounting Standards, the rival system to GAAP. [...] news.ft.com

To: D. Long who wrote (11727)	2/21/2002 10:36:15 AM
From: GUSTAVE JAEGER	Read Replies (2) \| Respond to of 23908

Re: My point, Gustave, is apparent - the Palestinians have not, do not, and most likely will not possess the institutions and core beliefs necessary for prosperity. They will persist in their ignorance and gangster political organization, and the economy of graft will persist as their own domestic product.... Well, when it comes to "possessing the institutions and core beliefs necessary for prosperity", I guess we can lump the Palestinians and the Argentine bozos together, can't we? Argentines protest country's economic woes February 21, 2002 Posted: 9:47 AM EST (1447 GMT) BUENOS AIRES, Argentina (AP) -- Several thousand Argentines marched on Buenos Aires' main square, culminating a day of protests that had seen jobless Argentines throw up road blocks around the capital to protest the government's handling of a deep economic crisis. Officers used water cannons to disperse the last couple of hundred demonstrators Wednesday, after the protesters started throwing stones and plastic bottles at the dozens of shield-guarded riot police amassed in front of the Government House, which borders the square. At least six people were seen dragged away by police, after a couple of dozen vandals started smashing bank windows and tried to break into a municipal building. The incidents were over in less than a half hour. The violence came at the end of an evening of peaceful protest by some 2,500 people -- mainly middle-class families and members of left-wing political groups. [snip] cnn.com Now the funny thing about that Argentine meltdown is that our silly massmedia keep reporting about angry "middle-class families" --LOL! They haven't got it yet: the whole Argentine middle class's been demoted --they're all lumpen now.... Gus