Get a grip guys

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I've already mentioned the IASB conceptual framework consultation process this morning.

The submission I really like is form Mike Page, Professor of Accounting at Portsmouth University, which starts:

Get a grip guys, the financial system is falling about our ears, the myth of the mighty market has been exploded and you are trying to carry on business as usual. The current version of a conceptual framework may try to be elegant but it does not address the problems of the real world.

If only more academics wrote like that.