OK, while I'm quoting Francine McKenna, let me add another point of agreement. She wrote in Accountancy Age last week:
I've been writing about accountants and their obscure alchemy on my blog for the last two years. I've watched as the US Congress, regulators, business leaders, academics, lawyers, standards setters, and the Big Four audit firms wrangle over issues such as mark-to-market accounting, regulation of private equity and hedge funds, limits on executive compensation, and better corporate governance.
Unfortunately, this debate is taking place because of the inability of accountants to defend their accounting. Absent other scapegoats, accounting standards may take the blame for the worst crisis to threaten capitalism since the 1930s.
I agree. Which makes Accountancy Age's own comments on the issue even more incongruous.