Corporate Governance: The Great Misleading Continues …

The Financial Accounting Standards Board (FASB) has postponed the implementation of compulsory expensing of stock options for six months, until June 15, 2020.

For details, see the article on the FASB web site.

Considering the record levels of corporate stock buybacks in the second quarter of 2004 ($159.5 billion, net), it appears that the Great Misleading is still rampant and that despite the touchy-feely talk about corporate governance in the wake of Enron and the other scandals of the Great Bubble, the inherent fraud behind stock-option/buyback schemes still goes undetected by unsophisticated investors that trust their retirement to 401(k) plans in equity mutual funds.

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