>Where I want to know is where is Double D, the Doughty Defender of the
>accounting profession, now in their hour of need :o) Were the guys that
>signed off on this stuff even trying to find irregularities? This newest
>batch of "classification errors" seems like absurdly straightforward fraud
>when compared with Enronomics. No?
Xerox was kind of old news, but still it's an amazing procession, isn't it? And the numbers are so big. I bet national income account estimates of profits will be marked down in the coming years, making the 90s profit recovery less impressive than it seemed. (They rely on company accounts for initial estimates, then revise them when the tax data comes in. Mid-90s numbers were already marked down, and more's on the way.)
Doug