|Washington, D.C. – The Financial Accounting Standards Board (FASB) should take into account the economic impact to the American worker as it considers accounting standard changes on the expensing of stock options, according to U.S. Senator Mike Enzi, R-Wyo.
Enzi, who chairs the Senate Banking Subcommittee on Securities and Investment, assembled a "brain trust" of prominent business people and financial experts to discuss stock option expensing yesterday. Sens. George Allen, R-Va., and Barbara Boxer, D-Calif., also helped Enzi organize the roundtable.
Enzi told FASB he had defended the board's independence, but is disappointed the board seems to have made up its mind to expense stock options before it listened to all the evidence. Enzi hoped FASB, whose chairman Bob Herz participated in the roundtable, would consider the arguments presented at the discussion. However, judging from comments made during the discussion by Herz, Enzi said he was concerned about FASB's objectivity more than he was before the roundtable began.
Below are Enzi's opening remarks and a list of roundtable participants.
of Michael B. Enzi
for the Roundtable Discussion
Preserving Partnership Capitalism Through
Stock Options for America’s Workforce