meazza Posted March 12, 2010 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?
Alaska Darin Posted March 12, 2010 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!"
GG Posted March 12, 2010 Posted March 12, 2010 I am shocked and appalled that there is gambling in Casablanca. Quick Mr. Volcker round up the usual suspects.
meazza Posted March 12, 2010 Author Posted March 12, 2010 GG said: 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.
John Adams Posted March 12, 2010 Posted March 12, 2010 Alaska Darin said: 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.
meazza Posted March 12, 2010 Author 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.
bills_fan Posted March 12, 2010 Posted March 12, 2010 meazza said: ... 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. Quote 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
meazza Posted March 12, 2010 Author Posted March 12, 2010 bills_fan said: 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.
GG Posted March 12, 2010 Posted March 12, 2010 meazza said: 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?
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