```That is right, what was done before can not be touched but what takes place today can no longer be accepted as it was in the past. The ‘grandfather clause’ was intended to hide the bad debt and it may have worked had the auditors of Refco not uncorked the news.``

It was very clear to most what it was for....

To me anyway...

``A liability that will only grow as the mark-to-market value of these illegal trades grows as companies prosper instead of fold as you expected.``

``Any further delays simply risk the investments of the remaining investors of these markets.``

The new powers of communication are igniting a storm that can not be stopped.

doni