Posted on 09/11/07
Thought the subprime mess was bad? Wait till the accountants get involved
'Fasbie, that's gonna be the next big thing." My interlocutor pointed his chopsticks at me to emphasize his point, "You just watch."Since he was talking while chewing on a mouthful of General Tso's Chicken, it sounded to me like he had said Frisbee, and I was pondering how best to break the news that they invented the Frisbee, like, back in the sixties, when I realized he was talking about FASB - the U.S. Federal Accounting Standards Board. You know, the guys who come up with the new accounting rules almost as fast as the Enrons and WorldComs find ways to circumvent them.
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