[lbo-talk] Partnoy on American style accounting rules

Michael Pollak mpollak at panix.com
Fri May 9 04:39:40 PDT 2003


<quote>

Imagine if we lived in a world where instead of saying that murder was

illegal, we said murder with a knife is illegal, murder with a gun is

illegal, murder with a noose is illegal -- we had highly specific

rules. No one would be surprised to find that people were murdering

with ball-point pens to get around the rules. The same thing is

happening in the financial markets. People are using, or are

contracting around legal rules, and I think we need to move to more

general principles.

<unquote>

Rest of interview: http://www.tompaine.com/feature.cfm/ID/7730



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