Enron followed Generally Accepted Accounting Principles (GAAP) in accounting for the activities of its Special Purpose Entities (SPEs) and concealed its true financial status. Worldcom didn't follow (GAAP) in accounting for expenses and concealed its true financial status. Federal and state governments and their Special Purpose Entities (like Social Security) have never followed (GAAP) and regularly conceal their true financial status. If private execs should do time for their lies and concealment so should our political leaders for their much more significant lies and concealment. -- Posted by Duncan Frissell to <http://technoptimist.blogspot.com>The Technoptimist at 7/8/2002 9:44:15 AM Powered by <http://pro2.blogger.com>Blogger Pro