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2. One commentator described the Enron-Arthur Andersen debacle as the half-full problem-the tendency for analysts to insist that the glass is half-full rather than half-empty.

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2. One commentator described the Enron-Arthur Andersen debacle as "the half-full problem"-the tendency for analysts to insist that the glass is half-full rather than half-empty. How can financial manag- ers both stimulate financial success and yet be wary of the dangers of excessive optimism? Is there a place for optimism in accounting? In the sale of derivatives

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