In 1994 given the support of Senator Lieberman and others the US Senate passed a non-binding resolution that passed by a vote of 88-9 to require FASB to reconsider their position on the expensing of stock options. What happened as a result of this action? How did the then SEC Chairman Arthur Levitt enter into the equation? In retrospect, how did Mr. Levitt characterize his actions or inactions? What are the implications of FASB giving in to the pressure? Is it possible this can happen again? What safeguards can be employed to try to make this not repeat?