Tuesday, July 06, 2004  Congressional Dishonesty  Warren Buffett
today takes on the subject of executive compensation, and the
absurd legislation presently before Congress designed to permit
companies to continue to hide the true amount they pay their top
executives. The only reason for making such an Alice-in-
Wonderland assumption is to significantly understate the value
of the few options that the House wants counted. This
undervaluation, in turn, enables chief executives to lie about
what they are truly being paid and to overstate the earnings of
the companies they run. (He ads a bit of derision for the
"Enronesque accounting" demonstrated by Congress in its own
budgets.)  Meanwhile, Henry Waxman takes on the Republican
leadership, noting that while no scandal (real or imagined) was
too small to justify investigation under Clinton, nothing the
Bush Administration does (no matter how outrageous) is deemed
worty of investigation.  1 comment:    1. In case you were
confused (and got hungry), today's Post clar