From: Forrest Bishop (forrestb@ix.netcom.com)
Date: Sat Jun 29 2002 - 17:22:47 MDT
----- Original Message -----
From: Harvey Newstrom <mail@HarveyNewstrom.com>
To: <extropians@extropy.org>
Sent: Saturday, June 29, 2002 8:59 AM
Subject: Was the Internet Boom a Myth?
> Speaking of Microsoft, does anybody know anything more about the SEC's
> investigations into Microsoft Accounting irregularities? Apparently,
> they reserved profits in good years off the books to add in later during
> lean years to make themselves always look profitable.
try-
http://www.usagold.com/gildedopinion/microsoftfraud.html
"We live in extraordinary economic times here in the U.S. and this success could ignite a whole new cycle of economic prosperity.
We must first, however, take a hard look at what is occurring at Microsoft. Microsoft is a great company with terrific employees.
Sadly, many of these brilliant people have been blinded by the stock price and unable to see that Microsoft is also the key
architect of the greatest financial fraud/pyramid scheme this century...."
Bill Parish, 1999
Mr. Parish is an independent CPA. An an historian, I consider this document one of the more important period pieces. As for "key
architect" this refers to MSFT's CFO being simultaneously chairman of the NASDAQ during the time ESOP's were discounted from
operating expenses (thus exaggerating earnings). The penultimate key architect of the Dollar Bubble is of course the Federal
Reserve. The internet/tech and real estate bubbles are simply some of the aspects of this.
Forrest
-- Forrest Bishop Chairman, Institute of Atomic-Scale Engineering www.iase.cc
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