meazza Posted March 12, 2010 Share Posted March 12, 2010 ... according to the court appointed examiner. http://www.ft.com/cms/s/0/2e412d50-2d6e-11...144feabdc0.html What's the point of using an external auditor if these kind of discrepancies aren't examined? Link to comment Share on other sites More sharing options...
Alaska Darin Posted March 12, 2010 Share Posted March 12, 2010 The government has been doing the same thing for years. It gave us the ridiculous satisfaction of "we have a surplus!" Link to comment Share on other sites More sharing options...
GG Posted March 12, 2010 Share Posted March 12, 2010 I am shocked and appalled that there is gambling in Casablanca. Quick Mr. Volcker round up the usual suspects. Link to comment Share on other sites More sharing options...
meazza Posted March 12, 2010 Author Share Posted March 12, 2010 I am shocked and appalled that there is gambling in Casablanca. Quick Mr. Volcker round up the usual suspects. I'm surprised there was no stinks caused about Paulson's involvement with Goldman during the crisis. Link to comment Share on other sites More sharing options...
John Adams Posted March 12, 2010 Share Posted March 12, 2010 The government has been doing the same thing for years. It gave us the ridiculous satisfaction of "we have a surplus!" I like when the government calls for people to be fired over crap like this...and yet no one in government ever gets fired for their cost overruns, auditing problems, or going to war based on bad information. Link to comment Share on other sites More sharing options...
meazza Posted March 12, 2010 Author Share Posted March 12, 2010 http://ftalphaville.ft.com/blog/2010/03/12/173241/repo-105/ In a statement, Mr Fuld’s lawyer wrote: “Mr Fuld did not know what those transactions were – he didn’t structure or negotiate them, nor was he aware of their accounting treatment,” his attorney wrote in a statement. If I recall, CEO has a fiduciary duty to what's signed off. That won't hold up in court. Link to comment Share on other sites More sharing options...
bills_fan Posted March 12, 2010 Share Posted March 12, 2010 ... according to the court appointed examiner. http://www.ft.com/cms/s/0/2e412d50-2d6e-11...144feabdc0.html What's the point of using an external auditor if these kind of discrepancies aren't examined? And that makes them different from every other financial institution how exactly? Can't trust any balance sheet out there. Accounting rules require that banks write down the value of those loans on their books, and experts tell me that if banks really accounted for all the losses in the home loan market, they'd all be insolvent. http://www.cnbc.com/id/35768105 Link to comment Share on other sites More sharing options...
meazza Posted March 12, 2010 Author Share Posted March 12, 2010 And that makes them different from every other financial institution how exactly? Can't trust any balance sheet out there. I agree 100%. There are many manipulations that go on and I wouldn't be surprised if it's recurring with every financial institution. Link to comment Share on other sites More sharing options...
GG Posted March 12, 2010 Share Posted March 12, 2010 I agree 100%. There are many manipulations that go on and I wouldn't be surprised if it's recurring with every financial institution. Wouldn't be? Link to comment Share on other sites More sharing options...
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