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To: The Duke of URL© who wrote (167101)	6/25/2002 7:51:13 PM
From: Jim McMannis	Respond to of 186894

RE:"This shows you how totally friggin stupid, 'alledged" political corruption can get and people who are swayed by every opinion the run accross. <<RATHER THAN MAKE AA AND EVERY OTHER ACCOUNTING FIRM RESPONSIBLE FOR THEIR ACTIONS ON A CASE BY CASE BASIS you pass a law that says that they are not responsible to the public.>> Moi? RE:"NOW, what if I told you that WCOM committed NO fraud, that this is just a smokescreen, that I could tell from looking a wcoms balance sheet in two seconds that they were capitalizing expenses of acquisitions. <<That this same Government agency Accused MS of expensing when they should be capitalizing.">> Yep RE:"Let me tell you that the company determines whether to capitalize or expense an item and it depends on the situation. There is no one size fits all rule. Don't fall for this bullshit, the cause is taking political contributions and passing a law that said the certified public accountants weren't liable to the public." OK RE:"The only rule is disclosure of treatment of items of income and campaign contributions. HAVE YOU EVERY HEARD OF THE POOLING OF INTERESTS METHOD OF ACCOUNTING? I guarantee this was the law. A smokescreen is where you generate a lot of smoke to hide the escape route." OK All that sounds really cool and you may be right but let's see how the market reacts. The public basically just sees their wallet. You can argue about the laws 'till the cows come home. Jim

To: The Duke of URL© who wrote (167101)	6/25/2002 9:03:48 PM
From: Amy J	Read Replies (1) \| Respond to of 186894

Hi Duke of URL, RE: "Don't fall for this bullshit, the cause is taking political contributions and passing a law that said the certified public accountants weren't liable to the public. The only rule is disclosure of treatment of items of income and campaign contributions. HAVE YOU EVERY HEARD OF THE POOLING OF INTERESTS METHOD OF ACCOUNTING? I guarantee this was the law. A smokescreen is where you generate a lot of smoke to hide the escape route." ------------------------- Would you please clarify your point - I'm curious to understand this. It sounds like you're saying a law was passed, that wasn't effective, and it was passed due to lobby/contribution pressures? So the solution is? Regards, Amy J