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June 21, 2009



Hi Tom, excellant post, as usual.

I would agree with you here, and would add that the accounting "rules" should not govern the business combination, at best. I think that until and unless the rule makers go back to the statement 6, and fix the "very dilemnma" -the cherry picking and making up "future probable economic benefits -who kknows what that means" would go a long way. I know it sounds strange, but intent to hold the debt securities and several of the classification are prime tools(especially) provided to the firms by rule makers to manage earnings.

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