Date: Wed May 31 2006 - 08:52:25 EDT
Hi Tony, Thanks for this. I like the clever way you used the pre-existing subject line. Since Fred asked a macro question, I'll ask a micro one. As a practical matter for workers and unions trying to find the "dead bodies" in the SPE's, perhaps what is needed are "moles"? I.e. secret alliances with clerical workers or "disgruntled former employees" who have or can obtain evidence of the SPE's and other accounting and administrative improprieties. In solidarity, Jerry > First, many colleagues have, over the years, pleaded with > progressive accountants to give them a clear answer to a simple > question, "How do we find the dead bodies buried in financial > statements?" In Enron, we see why there is not straightforward: Enron's > accountants, auditors and consultants (KPMG and Arthur Andersen) buried > bodies elsewhere (in Special Purpose Entities called SPE's).
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