Wow! What a day for the AOL ticker. I can't say I am completely surprised, but am disappointed we actually closed below $10. Investors are pretty dumb when it comes down to it. If anyone really thinks that we would do anything wrong in accounting after the problems back in '95, they just really don't get it.
My personal theory is that Dubbya called up Case and Parsons and asked them to tell him off the record if we were really doing something illegal with the AOL accounting... then my imaginary phone call would go something like this:
"So, you guys are sure and swear to me all is clear down there?" Dubbya would say.
"Yes, sir Mr. President" Case and Parsons would answer.
"Then here is what I'm going to do, I'm looking very weak in my handling of the economy right now, so I'm going to send the SEC over there to 'investigate' you. They're going to search through all your records, and confirm what you've just told me. Then we'll make a big announcement about how not all US companies are corrupt and that other companies should follow your lead. That'll get people confident that not all corps are out to get them, my approval will go up, and confidence will be had and your stock price will go back up. Thanks guys, you're good Americans." the phone clicks as Dubbya moves on to go declare war somewhere.
The opinions, views, and such in this blog are my own and are not in ANY WAY representive of AOL Time Warner views.