Political Quotes

“If stock options are good why not reverse FASB? The answer is a lot of things are good. Our research and development spending is good, but surely that should be shown as an expense on the company's books. If the test of what is an expense shown on the books is what is good and if it is good it should not be shown, then most of the expenses that a company undertakes are not going to be reflected on the books and we are not going to have honest accounting rules. This vote today on the Lieberman amendment is about whether or not we are going to interject ourselves into FASB's effort to have honest accounting rules. I hope my amendment passes. I think now it will with the support of the Senators from Connecticut and California. It should because it says we should not legislate. But, in addition, after my amendment is adopted, and hopefully it will be, we should then defeat the underlying amendment because the underlying amendment would say that we, the Congress, know better than FASB as to what represents an honest accounting rule when it comes to stock options. It is a bad precedent to set.”