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This page contains all of the posts and discussion on MemeStreams referencing the following web page: SEC Targets 'Swap' Deals by Telecom Firms. You can find discussions on MemeStreams as you surf the web, even if you aren't a MemeStreams member, using the Threads Bookmarklet.

SEC Targets 'Swap' Deals by Telecom Firms
by Jeremy at 7:01 am EDT, Aug 20, 2002

The SEC has ruled invalid an accounting rationale used by some telecommunications companies to justify deals in which they appeared to trade access to one another's wires.

The new ruling means any companies that relied on the rationale to boost their revenue may be forced to restate their financial results.

Look for restatements to arrive soon, but expect the market to ignore them. (There's no sense in letting a few unwanted facts spoil the rally! Right?)


 
 
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