Berkshire Hathaway Annual Shareholder Meetings (since 1994) cover image

2001-Morning Session-BRK Annual Shareholders Meeting

Berkshire Hathaway Annual Shareholder Meetings (since 1994)

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We're Not Going to Let FASB Set the Accounting Rules

I don't think either of us spends a lot of time fighting with FASB or trying to create a better one. The pressure was incredible that American business brought on Congress. They tried to put pressure on FASB and they weren't getting a result so they just said, we're not going to let FASB set the accounting rules. We've written about it and talked about it. So the only way it will get changed is if 15 or 20 large institutional investors would band together in some way but some of them have the same problem because they're getting paid extraordinary.

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