I wish I could say that I can't believe Congress is pushing forward a new plan to allow the top 5 employees to run away with stock options, leaving the others behind, but I can't. Is Congress set on creating more disparity between the haves and have nots? Even Warren Buffet can't believe what Congress is up to.
"...the bill decrees that a coveted form of corporate pay -- stock options -- be counted as an expense when these go to the chief executive and the other four highest-paid officers in a company, but be disregarded as an expense when they are issued to other employees in the company. Second, the bill says that when a company is calculating the expense of the options issued to the mighty five, it shall assume that stock prices never fluctuate.
All seven members of the Financial Accounting Standards Board, all four of the big accounting firms and legions of investment professionals say the two proposals are nonsense. Nevertheless, many House members wish to ignore these informed voices and make Congress the Supreme Accounting Authority."
