Why FAS 157 Is Stupid

I am a guest columnist in VentureBeat.  Having pissed off all my lawyers friends with my Law Firm 2.0 posts, I figured it was about time to trash the accounting profession.  Or at least a part of it. 

I hate the new accounting world of FAS 157 and I’m not alone.  Fred Wilson posted a great summary about how stupid this whole mess is.

Check out my article and let me know your thoughts.