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To: Jorj X Mckie who wrote (11095)	11/1/2002 8:11:42 PM
From: Augustus Gloop	Respond to of 57110

Regulators File Suit Against Ernst & Young Suit Linked To Last Year's Failure Of A Chicago Bank POSTED: 5:31 p.m. EST November 1, 2002 CHICAGO -- It's another black eye for the embattled accounting profession. The federal government has filed a $548 million fraud and negligence suit against accounting giant Ernst and Young. The suit is linked to last year's failure of a Chicago bank. The Federal Deposit Insurance Corporation accuses the firm of misstating Superior Bank's assets and deliberately delaying reporting of the error. The FDIC said that was because of fear the revelation would hurt the $11 billion sale of the accounting firm's consulting arm.