Pat Toomey: “I think what accounting is supposed to be all about is providing the most accurate information, and by ``accurate,'' I…”

“I think what accounting is supposed to be all about is providing the most accurate information, and by ``accurate,'' I think we mean information that either immediately or at least in time converges with economic reality. We do not want corporations to be showing income or expenses that never occur. That is common sense, but that is the reality we are dealing with here. And what this amendment does is it moves us away from that convergence to economic reality, and I think the underlying bill does a better job of capturing that economic reality, which ultimately in the case of stock options, I believe, should be primarily captured by showing the dilution that occurs in the form of new stock that is issued.”