Former SEC Commissioner Christoper Cox on the prospects of the US buying into International Financial Reporting Systems:
For those of you who remember Monty Python, I think Michael Palin, in speaking about John Cleese’s parrot, said it best: This parrot is no more. It’s not simply resting, or momentarily stunned. The prospect of full scale IFRS in our lifetimes has ceased to be. It is bereft of life. It rests in peace.
His explanation for why that's the case strikes this observer as plausible and persuasive.