I added a comment on Tragic Algebra from the value - my March 28, 2001 write-up of how to account for stock options abuse during the 1990s bubble. I have been asked what my realization was as my finger was stuck in the car door, and it turns out I wrote it out. My write-up is in the last comment in the discussion under this post. It is not short.

On April 2, 2001 I wrote about options repricing, a reprehensible practice at the time that made options grants essentially limitless-value grants. The first prosecutions by DOJ and the SEC did not start until 2006. This April 2 write-up is also in the comment section of this post.