Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Jerome who wrote (60157)	7/6/2002 10:54:56 PM
From: hueyone	Respond to of 77400

Well this writer isn't quite as one sided as columnist Paul Krugman, but he is pretty close. He did manage to get these couple of sentences of balance in though: It's not that Democrats are clean. When Al Gore blasted Mr. Pitt last weekend for having led the accounting industry's drive "to open up loopholes" in the 1990's, he could have been describing his own ticket mate, Joe Lieberman, who was second to none in doing the accounting industry's bidding. More on Lieberman and Clinton regarding stock options from a March WSJ article: Snip:And so, the FASB voted in April 1993 to require companies to treat options as an expense, based on the estimated future value of those options. The vote produced a political tsunami that started in Silicon Valley, gathered force in Washington, and slammed into Norwalk, Conn., where the accounting board is based. The Clinton administration weighed in against the FASB. So did institutional-investor groups, who said the rule change would muddy financial statements. A nonbinding resolution opposing the FASB rule change passed the Senate by a vote of 88-9. Its sponsor, Sen. Joseph Lieberman, a Connecticut Democrat, later proposed legislation that would have, in effect, put the FASB out of business. online.wsj.com As far as I know, Levin and McCain, a Democrat and a Republican, are the only pols who have seriously tried to do anything about accounting reform for stock options. The rest of the pols on both sides of the aisle have proved to be beholden to Silicon Valley execs on this issue. Huey