[Congressional Record Volume 150, Number 101 (Tuesday, July 20, 2004)]
[Senate]
[Pages S8484-S8487]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         SUBMITTED RESOLUTIONS

                                 ______
                                 

   SENATE RESOLUTION 408--SUPPORTING THE CONSTRUCTION BY ISRAEL OF A 
SECURITY FENCE TO PREVENT PALESTINIAN TERRORIST ATTACKS, CONDEMNING THE 
 DECISION OF THE INTERNATIONAL COURT OF JUSTICE ON THE LEGALITY OF THE 
 SECURITY FENCE, AND URGING NO FURTHER ACTION BY THE UNITED NATIONS TO 
        DELAY OR PREVENT THE CONSTRUCTION OF THE SECURITY FENCE

  Mr. SMITH (for himself, Mr. Alexander, Mr. Bond, Mr. Bunning, Mr. 
Chambliss, Mrs. Clinton, Mr. Coleman, Ms. Collins, Mr. Corzine, Mr. 
Crapo, Mrs. Dole, Mr. Fitzgerald, Mr. Lieberman, Mr. Lugar, Mrs. 
Murray, Mr. Schumer, Mr. Wyden, Mr. DeWine, Ms. Mikulski, and Mr. 
Allard) submitted the following resolution; which was referred to the 
Committee on Foreign Relations:

                              S. Res. 408

       Whereas the United Nations General Assembly requested the 
     International Court of Justice to render an opinion on the 
     legality of the security fence being constructed by Israel to 
     prevent Palestinian terrorists from entering Israel;
       Whereas, on February 23, 2004, the International Court of 
     Justice commenced hearings on the legality of the security 
     fence;
       Whereas, on July 9, 2004, the International Court of 
     Justice issued an advisory opinion that was critical of the 
     legality of the security fence and that accused Israel of 
     violating its international obligations;
       Whereas the security fence is a necessary and proportional 
     response to the campaign of terrorism by Palestinian 
     militants;
       Whereas, throughout Israel, the West Bank, and Gaza, 
     terrorist groups have sent suicide bombers to murder Israeli 
     civilians in buses, cafes, and places of worship, have used 
     snipers to shoot at Israeli civilians in their homes and 
     vehicles and even in baby carriages, and have invaded homes 
     and seminaries in order to carry out acts of terrorism;
       Whereas Palestinian terrorists routinely disguise 
     themselves as civilians, including as pregnant women, hide 
     bombs in ambulances, feign injuries, and sequence bombs to 
     kill rescue workers responding to an initial attack;
       Whereas a security fence has existed in Gaza since 1996 and 
     that fence has proved effective at reducing the number of 
     terrorist attacks and prevented many residents of Gaza from 
     crossing into Israel to carry out terrorist attacks;
       Whereas, from the onset of the Palestinian campaign of 
     terror against Israel in September 2000, until the start of 
     the construction of the fence in July 2003, Palestinian 
     terrorists based out of the northern West Bank carried out 73 
     attacks in which 293 Israeli were killed and 1,950 were 
     wounded, and during the period since construction began, from 
     August 2003 through June 2004, only 3 attacks were 
     successfully executed, 2 of which were executed by terrorists 
     coming from areas where the fence was not yet completed;
       Whereas this reduction in number of attacks represents a 90 
     percent decline since construction of the security fence 
     commenced;
       Whereas, on June 30, 2004, Israel's High Court of Justice 
     issued a dramatic ruling that supported the need for the 
     security fence to fight terror, but ruled that its route must 
     take into account Palestinian humanitarian concerns, thus 
     reinforcing the central role that the rule of law plays in 
     Israeli society;
       Whereas United Nations Security Council Resolution 242 
     (November 22, 1967) and United Nations Security Council 
     Resolution 338 (October 22, 1973) require negotiated 
     settlement of the Israeli-Palestinian conflict, including the 
     demarcation of final borders and recognition of the right of 
     Israel to ``secure and recognized boundaries'';
       Whereas, according to international law and as expressly 
     recognized in Article 51 of the Charter of the United 
     Nations, all countries possess an inherent right to self-
     defense;
       Whereas the security fence and associated checkpoints are 
     crucial to detecting and deterring terrorists among the 
     Palestinian civilian population;
       Whereas there is concern that the International Court of 
     Justice is politicized and critical of Israel;
       Whereas construction of the security fence does not 
     constitute annexation of disputed territory because the 
     security fence is a temporary measure and does not extend the 
     sovereignty of Israel;
       Whereas the security fence is permitted under the 
     Declaration of Principles on Interim Self-Government 
     Arrangements, signed at Washington September 13, 1993, 
     between Israel and the P.L.O. (hereinafter referred to as the 
     ``Oslo Accord'') in which Israel retained the right to 
     provide for security, including the security of Israeli 
     settlers;
       Whereas the case regarding the legality of the security 
     fence in the International Court of Justice violates the 
     principles of the Oslo Accord that require that all disputes 
     between the parties be settled by direct negotiations or by 
     agreed-upon methods; and
       Whereas the United States, Korea, and India have 
     constructed security fences to separate such countries from 
     territories or other countries for the security of their 
     citizens: Now, therefore, be it
       Resolved, That the Senate--
       (1) recognizes Israel's right of self-defense against 
     Palestinian terrorist attacks, and supports the construction 
     of a security fence, the route of which, with the support of 
     the Government of Israel, takes into account the need to 
     minimize the confiscation of Palestinian land and the 
     imposition of hardships on the Palestinian people;
       (2) condemns the decision of the International Court of 
     Justice on the legality of the security fence; and
       (3) urges the United States to vote against any further 
     United Nations action that could delay or prevent the 
     construction of the security fence and to engage in a 
     diplomatic campaign to persuade other countries to do the 
     same.
                                 ______
                                 

  SENATE RESOLUTION 409--ENCOURAGING INCREASED INVOLVEMENT IN SERVICE 
                  ACTIVITIES TO ASSIST SENIOR CITIZENS

  Mr. BAYH submitted the following resolution; which was referred to 
the Committee on the Judiciary:

                              S. Res. 409

       Whereas approximately 13,000,000 individuals in the United 
     States have serious long-term health conditions that may 
     force them to seek assistance with daily tasks;
       Whereas 56 percent of the individuals in the United States 
     with serious long-term health conditions are age 65 or older;
       Whereas the percentage of the population over the age of 65 
     is expected to rise from 13 percent in 2004 to 20 percent in 
     2020;
       Whereas the number of individuals entering the workforce 
     and the number of health care professionals with geriatric 
     training are not keeping pace with the changing demographics;
       Whereas medicaid paid for 51 percent of total long-term 
     care spending in 2002, as compared to the 15 percent of total 
     long-term care spending paid by medicare;
       Whereas the long-term care system of the United States, 
     funded largely with Federal and State dollars, will have 
     difficulty supporting the coming demographic shift;
       Whereas 80 percent of seniors live at home or in community-
     based settings;
       Whereas 3,900,000 people of the United States who are over 
     age 65 receive long-term care assistance in home and 
     community settings;
       Whereas 65 percent of seniors who need long-term care rely 
     exclusively on friends and family, and another 30 percent 
     rely on a combination of paid caregivers and friends or 
     family;
       Whereas 15 percent of all seniors over the age of 65 suffer 
     from depression;
       Whereas studies have suggested that 25 to 50 percent of 
     nursing home residents are affected by depression;
       Whereas approximately 1,450,000 people live in nursing 
     homes in the United States;
       Whereas by 2018 there will be 3,600,000 seniors in need of 
     a nursing home bed, which will be an increase of more than 
     2,000,000 from 2004;
       Whereas as many as 60 percent of nursing home residents do 
     not have regular visitors;
       Whereas older patients with significant symptoms of 
     depression have significantly higher health care costs than 
     seniors who are not depressed;
       Whereas people who are depressed tend to be withdrawn from 
     their community, friends, and family;
       Whereas the Corporation for National and Community Service 
     (CNS) Senior Corps programs currently provide seniors with 
     the opportunity to serve their communities through the 
     Retired and Senior Volunteer Program, Foster Grandparent 
     Program, and Senior Companion Program;
       Whereas through the Senior Companion Program in particular, 
     in the 2002 to 2003 program year, more than 17,000 low-income 
     seniors volunteered their time assisting 61,000 frail elderly 
     and homebound individuals who have difficulty completing 
     daily tasks;
       Whereas numerous volunteer organizations across the United 
     States enable Americans of all ages to participate in similar 
     activities;
       Whereas Faith in Action, 1 volunteer organization, brings 
     together 40,000 volunteers of many faiths to serve 60,000 
     homebound people with long-term health needs or disabilities 
     across the country, 64 percent of whom are 65 years of age or 
     older;

[[Page S8485]]

       Whereas the thousands of volunteers that, through the 
     Senior Companion Program and volunteer organizations 
     nationwide, provide companionship and assistance to frail 
     elderly individuals and homebound seniors, deserve to be 
     commended for their work;
       Whereas the demand for these services outstrips the number 
     of volunteers, and organizations are seeking to enlist more 
     individuals in the United States in the volunteer effort;
       Whereas companionship and assistance programs for seniors 
     with long-term health needs offer many demonstrated benefits, 
     such as: allowing frail elderly individuals to remain in 
     their homes; enabling seniors to maintain independence for as 
     long as possible; providing encouragement and friendship to 
     lonely seniors; and providing relief to family caregivers;
       Whereas regular visitation and assistance is the best way 
     of assuring seniors that they have not been forgotten, and 
     State and local recognition of regular visitation programs 
     can call further attention to the importance of volunteering 
     on an ongoing basis; and
       Whereas a month dedicated to service for seniors and 
     recognized across the United States will call attention to 
     volunteer organizations serving seniors and provide a 
     platform for recruitment efforts: Now, therefore, be it
       Resolved, That the Senate--
       (1) designates September 2004 as ``Service for Seniors 
     Month'';
       (2) recognizes the need for companionship and assistance 
     with daily tasks among seniors with long-term health 
     conditions throughout the year, and encourages the people of 
     the United States to volunteer regularly with homebound frail 
     elderly or at a nursing home or long-term care facility;
       (3) encourages volunteer organizations that offer 
     companionship and assistance to seniors to incorporate 
     ``Service for Seniors Month'' in their recruitment efforts;
       (4) encourages individuals in the United States to 
     volunteer in these service organizations in order to give 
     back to a generation that sacrificed so much; and
       (5) requests that the President issue a proclamation 
     calling on the people of the United States and interested 
     groups to observe ``Service for Seniors Month'' with 
     appropriate ceremonies and activities that promote awareness 
     of, and volunteer involvement service for, seniors with long-
     term health needs.
                                 ______
                                 

  SENATE RESOLUTION 410--TO AUTHORIZE SENATE EMPLOYEES TO TESTIFY AND 
              PRODUCE DOCUMENTS WITH LEGAL REPRESENTATION

  Mr. FRIST (for himself and Mr. Daschle) submitted the following 
resolution; which was considered and agreed to:

                              S. Res. 410

       Whereas, the Department of Justice is requesting testimony 
     in connection with a pending investigation into potential 
     false statements to a committee of the Senate;
       Whereas, pursuant to sections 703(a) and 704(a)(2) of the 
     Ethics in Government Act of 1978, 2 U.S.C. Sec. Sec. 288b(a) 
     and 288c(a)(2), the Senate may direct its counsel to 
     represent employees of the Senate with respect to any 
     subpoena, order, or request for testimony relating to their 
     official responsibilities;
       Whereas, by the privileges of the Senate of the United 
     States and Rule XI of the Standing Rules of the Senate, no 
     evidence, under the control or in the possession of the 
     Senate may, by the judicial or administrative process, be 
     taken from such control or possession but by permission of 
     the Senate; and
       Whereas, when it appears that evidence under the control or 
     in the possession of the Senate may promote the 
     administration of justice, the Senate will take such action 
     as will promote the ends of justice consistent with the 
     privileges of the Senate: Now, therefore, be it
       Resolved That present and former employees of the Senate 
     are authorized to testify and to produce documents, except as 
     to matters for which a privilege should be asserted, in 
     connection with the pending investigation into potential 
     false statements to a committee of the Senate, and any 
     related proceedings.
       Sec. 2. The Senate Legal Counsel is authorized to represent 
     present and former employees of the Senate in connection with 
     the testimony authorized in section one of this resolution.
                                 ______
                                 

 SENATE RESOLUTION 411--TO AUTHORIZE DOCUMENT PRODUCTION BY THE SELECT 
                       COMMITTEE ON INTELLIGENCE

  Mr. FRIST (for himself and Mr. Daschle) submitted the following 
resolution; which was considered and agreed to:

                              S. Res. 411

       Whereas, the United States Department of Justice has 
     requested that the Senate Select Committee on Intelligence 
     provide it with documents in connection with a pending 
     investigation into the involvement of U.S. government 
     officials in the counter-narcotics air interdiction program 
     in Peru;
       Whereas, by the privileges of the Senate of the United 
     States and Rule XI of the Standing Rules of the Senate, no 
     evidence under the control or in the possession of the Senate 
     may, by the judicial or administrative process, be taken from 
     such control or possession but by permission of the Senate;
       Whereas, when it appears that evidence under the control or 
     in the possession of the Senate may promote the 
     administration of justice, the Senate will take such action 
     as will promote the ends of justice consistent with the 
     privileges of the Senate: Now, therefore, be it
       Resolved That the Chairman and Vice Chairman of the Senate 
     Select Committee on Intelligence, acting jointly, are 
     authorized to provide to the United States Department of 
     Justice, under appropriate security procedures, copies of 
     Committee documents sought in connection with its 
     investigation into the involvement of U.S. government 
     officials in the counter-narcotics air interdiction program 
     in Peru.
                                 ______
                                 

SENATE RESOLUTION 412--EXPRESSING THE SENSE OF THE SENATE REGARDING THE 
    IMPORTANCE OF MAINTAINING THE INDEPENDENCE AND INTEGRITY OF THE 
                  FINANCIAL ACCOUNTING STANDARDS BOARD

  Mr. FITZGERALD (for himself, Mr. Levin, Mr. McCain, and Mr. Durbin) 
submitted the following resolution; which was referred to the Committee 
on Banking, Housing, and Urban Affairs:

                              S. Res. 412

       Whereas the Financial Accounting Standards Board (FASB) was 
     created in 1973 to establish and improve standards of 
     financial accounting and reporting by publicly traded 
     companies for the guidance and education of the public, 
     including issuers of securities, auditors, and users of 
     financial information;
       Whereas the FASB is composed of a diverse, seven-member 
     board of accounting experts representing the private sector, 
     public accounting, academia, and Wall Street, all of whom are 
     specifically qualified to set technical accounting standards;
       Whereas the accounting standard setting process of the FASB 
     involves an extensive ``due process'' that is open to public 
     observation and participation;
       Whereas on March 31, 2004, the FASB issued a proposed 
     statement entitled ``Share-Based Payment'' that addresses the 
     accounting of share-based payment transactions, including 
     stock options, in which an enterprise receives employee 
     services in exchange for equity instruments of the 
     enterprise, or liabilities that are based on the fair value 
     of the enterprise's equity instruments or that may be settled 
     by the issuance of such equity instruments;
       Whereas legislation has been introduced in Congress that 
     would undermine the independence of the FASB by nullifying or 
     delaying ongoing efforts by the FASB to improve accounting 
     for equity-based compensation;
       Whereas Congressional action that dictates accounting 
     treatment of stock options by publicly traded companies would 
     inject Congress directly into the accounting standard setting 
     process mandating which types of stock-based compensation 
     should be expensed, how such expenses should be measured, 
     what enterprises should be exempt from expensing, and when 
     and under what circumstances the Securities and Exchange 
     Commission recognizes and enforces standards for the 
     accounting of stock-based compensation;
       Whereas Congressional action to set accounting standards 
     would set the dangerous precedent of substituting provisions 
     advocated by special interests in place of standards that are 
     set independently and objectively by the FASB;
       Whereas Congressional intervention in this area would not 
     only politicize but also compromise the integrity of the 
     accounting standard setting process of the FASB and undermine 
     the credibility of financial reporting by United States 
     companies;
       Whereas Congress has long recognized the fundamental 
     importance of the independent private sector accounting 
     standard setting process to United States capital markets;
       Whereas Congress reaffirmed this principle in the Sarbanes-
     Oxley Act of 2002 by authorizing the FASB to obtain 
     independent funding through assessments on private industry 
     rather than through appropriations from Congress or donations 
     from private industry; and
       Whereas the April 2003 Policy Statement of the Securities 
     and Exchange Commission endorsed the fundamental importance 
     of the independent private sector accounting standard setting 
     process: Now, therefore, be it
       Resolved by the Senate, That the Senate--
       (1) should continue to recognize and support the integrity 
     and independence of the accounting standard setting process 
     of the Financial Accounting Standards Board;
       (2) should not interfere with the independence of the 
     Financial Accounting Standards Board; and
       (3) should not dictate accounting standards to the 
     Financial Accounting Standards Board for stock-based 
     compensation or for any other financial accounting issue.

  Mr. FITZGERALD. Mr. President, I rise today to submit a resolution on 
the importance of maintaining the independence and integrity of the 
Financial Accounting Standards Board (FASB). I am pleased to be joined 
by

[[Page S8486]]

my colleagues, Senator Levin, Senator McCain and Senator Durbin in this 
initiative.
  For the past 30 years, the Financial Accounting Standards Board has 
been responsible for establishing and improving standards of financial 
accounting and reporting that are deemed ``generally accepted 
accounting principles.'' In order to ensure that these accounting 
principles are ``generally accepted,'' the FASB utilizes a deliberative 
process that is open to comment from the public, including the users of 
the financial statements and other third parties. The FASB has a 
diverse, seven-member board of accounting experts representing not only 
users of the financial statements but also preparers of financial 
statements. Because of its open deliberative process, the FASB has been 
able to maintain the integrity of its work through the independence it 
enjoys in setting accounting standards, away from special interests.
  But it appears that special interests are pressuring the FASB and 
lobbying Congress to take a different route than the norm on the 
financial accounting treatment of employee stock options. Several bills 
have been introduced in Congress that would block the FASB's proposal 
to require the fair value of employee stock options to be expensed on 
grant date. Instead, those bills dictate the specific accounting 
treatment to be applied to employee stock options and when and under 
what circumstances the Securities and Exchange Commission should 
recognize accounting standards for employee stock options.
  Political interference with the FASB's standards setting process 
would set a dangerous precedent. It is a bad idea for politicians in 
the House and the Senate to be substituting political decisions for the 
decisions by an expert private sector accounting standards board.
  On July 6, 2004, The Washington Post published an editorial by Mr. 
Warren Buffett, Chief Executive Officer of Berkshire Hathaway, entitled 
``Fuzzy Math And Stock Options.'' Mr. Buffett points out that the House 
of Representatives' ``anointment of itself as the ultimate scorekeeper 
for investors . . . comes from an institution that in its own affairs 
favors Enronesque accounting.'' Accordingly, he urges Congress not to 
interfere with the FASB's standard setting process and encourages chief 
executives who issue stock options ``to live with honest accounting.'' 
I ask unanimous consent that Mr. Buffet's op-ed be reprinted in the 
Record following my remarks.
  We have been down this road before. A decade ago, the FASB proposed 
an accounting standard that would have required companies to record the 
value of employee stock options as a compensation expense on their 
income statements. At that time, the Senate overwhelmingly passed a 
resolution that condemned the FASB's new standard, and a separate bill 
was introduced that would have stripped the FASB of its rulemaking 
authority. Under this threat of evisceration, the FASB withdrew its 
recommendation. In my opinion, Congress' interference with that 1993 
FASB proposal resulted in disastrous consequences with the accounting 
scandals at Enron, Global Crossing and WorldCom.
  I believe congressional interference in this issue will ultimately 
undermine the FASB's credibility and make it more difficult in the 
future for the FASB to adopt standards when a powerful special interest 
stands in the way. If that occurs, the real losers will be the millions 
of investors who help drive our economy by investing in companies' debt 
and equity securities. Investors depend on financial statements to make 
critical judgments about where to direct their capital investments. It 
is no exaggeration that the integrity of these investment decisions 
and, indeed, of U.S. financial markets as a whole, depend upon the 
integrity of the accounting rules that ensure that each company's true 
financial condition is reflected in its financial statements.
  I believe it is critical for the United States Senate to speak out at 
this pivotal time. Therefore, the resolution I introduce today would 
express the sense of the Senate that the Senate: (1) should continue to 
recognize and support the independence and integrity of the FASB's 
accounting standard setting process; (2) should not interfere with the 
FASB's independence; and (3) should not dictate accounting standards to 
the FASB for stockbased compensation or for any other financial 
accounting issue.
  As members of Congress, we must allow the FASB to do its job, free 
from political interference. Therefore, I urge my colleagues to support 
expeditious adoption of this resolution.

                [From the Washington Post, July 6, 2004]

                      Fuzzy Math and Stock Options

                           (By Warren Buffet)

       Until now the record for mathematical lunacy by a 
     legislative body has been held by the Indiana House of 
     Representatives, which in 1897 decreed by a vote of 67 to 0 
     that pi--the ratio of the circumference of a circle to its 
     diameter--would no longer be 3.14159 but instead be 3.2. 
     Indiana schoolchildren momentarily rejoiced over this 
     simplification of their lives. But the Indiana Senate, 
     composed of cooler heads, referred the bill to the Committee 
     for Temperance, and it eventually died.
       What brings this episode to mind is that the U.S. House of 
     Representatives is about to consider a bill that, if passed, 
     could cause the mathematical lunacy record to move east from 
     Indiana. First, the bill decrees that a coveted form of 
     corporate pay--stock options--be counted as an expense when 
     these go to the chief executive and the other four highest-
     paid officers in a company, but be disregarded as an expense 
     when they are issued to other employees in the company. 
     Second, the bill says that when a company is calculating the 
     expense of the options issued to the mighty five, it shall 
     assume that stock prices never fluctuate.
       Give the bill's proponents an A for imagination--and for 
     courting contributors--and a flatout F for logic.
       All seven members of the Financial Accounting Standards 
     Board, all four of the big accounting firms and legions of 
     investment professionals say the two proposals are nonsense. 
     Nevertheless, many House members wish to ignore these 
     informed voices and make Congress the Supreme Accounting 
     Authority. Indeed, the House bill directs the Securities and 
     Exchange Commission to ``not recognize as ``generally 
     accepted'' any accounting principle established by a standard 
     setting body'' that disagrees with the House about the 
     treatment of options.
       The House's anointment of itself as the ultimate 
     scorekeeper for investors, it should be noted, comes from an 
     institution that in its own affairs favors Enronesque 
     accounting. Witness the fanciful ``sunset'' provisions that 
     are used to meet legislative ``scoring'' requirements. Or 
     regard the unified budget protocol, which applies a portion 
     of annual Social Security receipts to reducing the stated 
     budget deficit while ignoring the concomitant annual costs 
     for benefit accruals.
       I have no objection to the granting of options. Companies 
     should use whatever form of compensation best motivates 
     employees, whether this be cash bonuses, trips to Hawaii, 
     restricted stock grants or stock options. But aside from 
     options, every other item of value given to employees is 
     recorded as an expense. Can you imagine the derision that 
     would be directed at a bill mandating that only five bonuses 
     out of all those given to employees be expensed? Yet that is 
     a true analogy to what the option bill is proposing.
       Equally nonsensical is a section in the bill requiring 
     companies to assume, when they are valuing the options 
     granted to the mighty five, that their stocks have zero 
     volatility. I've been investing for 62 years and have yet to 
     meet a stock that doesn't fluctuate. The only reason for 
     making such an Alice-in-Wonderland assumption is to 
     significantly understate the value of the few options that 
     the House wants counted. This undervaluation, in turn, 
     enables chief executives to lie about what they are truly 
     being paid and to overstate the earnings of the companies 
     they run.
       Some people contend that options cannot be precisely 
     valued. So what? Estimates pervade accounting. Who knows with 
     precision what the useful life of software, a corporate jet 
     or a machine tool will be? Pension costs, moreover, are even 
     fuzzier, because they require estimates of future mortality 
     rates, pay increases and investment earnings. These guesses 
     are almost invariably wrong, often substantially so. But the 
     inherent uncertainties involved do not excuse companies from 
     making their best estimate of these, or any other, expenses. 
     Legislators should remember that it is better to be 
     approximately right than precisely wrong.
       If the House should ignore this logic and legislate that 
     what is an expense for five is not an expense for thousands, 
     there is reason to believe that the Senate--like the Indiana 
     Senate 107 years ago--will prevent this folly from becoming 
     law. Sen. Richard Shelby (R-Ala.), chairman of the Senate 
     Banking Committee, has firmly declared that accounting rules 
     should be set by accountants, not by legislators.
       Even so, House members who wish to escape the scorn of 
     historians should render the Senate's task moot by killing 
     the bill themselves. Or if they are absolutely determined to 
     meddle with reality, they could attack the obesity problem by 
     declaring that henceforth it will take 24 ounces to make a 
     pound. If even that friendly standard seems unbearable to 
     their constituents, they can exempt all but the fattest five 
     in each congressional district from any measurement of 
     weight.
       In the late 1990s, too many managers found it easier to 
     increase ``profits'' by accounting

[[Page S8487]]

     maneuvers than by operational excellence. But just as the 
     schoolchildren of Indiana learned to work with honest math, 
     so can option-issuing chief executives learn to live with 
     honest accounting. It's high time they step up to that job.

                          ____________________