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Technology Stocks : Siebel Systems (SEBL) - strong buy? -- Ignore unavailable to you. Want to Upgrade?

To: hueyone who wrote (5951)	6/8/2002 3:17:05 PM
From: Mike Buckley	Read Replies (1) \| Respond to of 6974

Huey, Senator Lieberman ... even threatened to get the FASB shut down. How did he propose to do that? FASB is entirely financially supported by the Financial Accounting Foundation (FAF), a non-profit corporation, not a government agency. As to FASB's independence, if you look at the firms that sponsor FAF and nominate FAF's board of trustees, you'll feel much less confident that FASB is as independent as you and I would like. I don't know that there is a better solution; it's arguable that the U. S. system of accounting is in the best interest of individual investors more than any country in the world. Regardless, we do need to be aware of the realities that influence decisions made by FASB. --Mike Buckley