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Daily Log page for 6/10

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Efforts to legislate changes in corporate accounting in the wake of Enron have been beaten back.
 
Some highlights:  "A powerful group of lobbyists, playing on partisan disagreement in Congress, appears to have killed efforts to impose tight new controls on corporate conduct"
 

"In any event, politicians and lobbyists say that any change in the accounting treatment of stock options is dead for the year largely because of the perception that Silicon Valley, where such options are as ubiquitous as the Internet itself, is up for grabs in the 2002 and 2004 elections."

 

"For now, lawmakers say, they have trumped the arguments of such people as Alan Greenspan, the Federal Reserve chairman, and the multibillionaire investor Warren E. Buffett that the current treatment of options contributed to corporate overreaching in the 1990's."