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From: Frank Olsten
Time: 1:49:32 PM
More often than not it seems that the accounting people are willing to go along with anything management wants to do. Although it appears that these folks have tightened up their own regulations a lot, it seems that there is still a bunch of hanky-panky going on.
How can something like the Rite-aid situation come up or Texlon or a dozen others that are just not worth going into. How can this go on?
And what about the company that was in the business of acquiring other companies and bought this huge division whose reporting was like a sieve and the phony management wouldn't even resign.
What does the SEC have to say about stuff like that?