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To: Stock Farmer who wrote (58534)3/17/2002 4:37:44 AM
From: Jacques Newey  Read Replies (1) | Respond to of 77400
 
Don't know if this has been posted here before or not:

"The Great Financial Scandal of 2003"

“Quant Tech’s new officers, financially shrewd as they were, could see at a glance that , given the amazingly peculiar accounting convention and the sound income-tax rules in place, Quant Tech had a breathtakingly large opportunity to increase its reported profits by taking very simple action. The fact that so large a share of Quant Tech’s annual expense was incentive bonus expense provided a “modern financial engineering” opportunity second to none.”

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