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Conciseness


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here's a passage from www.dailyreckoning.com . how long can this go on?

 

"IBM, for example, using an estimated rate of 10 percent, reported assumed pension gains totaling $12.2 billion for 2000 and 2001 in its SEC filings, following FASB rules," Bloomberg continues. "IBM's annual reports showed in footnotes that the world's largest computer maker actually lost $2.8 billion in its pension fund for those two years - a disparity of $15 billion. On Dec. 31, IBM said it put $3.95 billion in cash and stock into its U.S. pension fund to make it fully funded."

 

Don't blame IBM; it's legal!

Q: What's the difference between IBM's (and GE's, GM's, etc.) annual report and the "Nigerian Business Proposal" e-letter.

 

The Lads from Lagos

 

Quatloos

 

A: None, whatsoever.

 

The destruction of the American Middle Class continues . . . cheered on by . . . the American Class.

 

"Reloaders" the grifters call them.

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