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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: willcousa who wrote (662378)	11/24/2004 9:57:58 AM
From: DuckTapeSunroof	Respond to of 769670

"the bubble market during the Clinton administration" I blame mostly Lieberman, Chris Dodd, Breaux, and a few other Senators and Reps., who KILLED the accounting reform plans (expensing stock options, improvements to GAAP rules, etc.) that were pushed hard TWICE in the 'nineties by Greenspan, Treasury Sec. Rubin, SEC Chairman Levitt... and others in the administration. If the reforms that the administration wanted had been put in place it would have been a Hell of a lot harder to ignite a tech stock bubble. You've gotta give the Clinton admin. credit for TRYING to do the right thing --- even though lots of big money and powerful corrupt pols were against their efforts. (And, I don't blame the companies: if the government is HANDING OUT FREE MONEY, you'd have to be a FOOL to not take it... and that's exactly what allowing a tax deduction for options 'expenses' that you don't have to report as an expense on your annual reported earnings numbers is!) Now, let's see if the Bushies try to spike the accounting reforms next year, too. (They ALREADY have gone along with some of the worst 'smoke and mirrors' phony federal budget numbers we've ever seen....)