My colleague Tracey Miller is right on top of things. She knows what is really news. Tracey is the editor-in-chief of The Electronic Accountant. Last week, she ran a news story about how Warren Buffett had blasted corporate America. It was the result of a scathing column that Buffet wrote in The New York Times where he argued that stock-option accounting and assumptions about pension fund returns are the most flagrant deceptions in corporate America, not to mention the outright crookedness by many chief executives.

Now, I tell you all this because when I read that piece by Buffett, entitled "Who Really Cooks the Books?" I had to offer a round of applause at the end. You see, without getting into a love fest, I am a big admirer of Buffett. I met him in a former lifetime when I was business editor at Barron's and found him a downright, simple, no-nonsense individual.

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