From: "Dave Ings" 

I've been reading these stories for a few months now. What surprises me the
most is that (apparently) generally accepted accounting practises allowed
large future liabilities such as these to be ignored. Similar problems are
of course bedeviling the GMs of the world.

I suppose if you did hard enough you'd find a semi-rational historical
reason for the weak rules, but it's hard to figure out what the heck the
accounting "professionals" were (not) up to.
--
Regards,
Dave Ings,
Toronto, Canada

"Geo"  wrote in message news:4521cef2{at}w3.nls.net...
> "Rich Gauszka"  wrote in message
> news:45181948{at}w3.nls.net...
>>
> http://www.boston.com/news/nation/articles/2006/09/25/public_retirees_benefit
s_adding_up/
>> Public retirees' benefits adding up
>> New rules reveal staggering debt
>> By Associated Press  |  September 25, 2006
>
> It's the next savings and load scandal.
>
> Geo.
>
>

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