Perhaps if the auditors, and complicit Sr. Staff, where held criminally liable (think fraud because that is what it is!), then perhaps the KPMG’s, Enrons, Worldcoms and AIG’s wouldn’t happen.
Until there is a heavy personal price to pay for ill gotten gains, then all of the fraud will just continue.
Enough about AIG. You are talking about 16 guys out of 100,000 honest hardworking employees who have lost money too- some have lost everything !
THAT IS NOT THE PROBLEM PEOPLE!!!!!
The criminals are New Century Financial Corp & the sub mortgage lenders.
AIG sold invesement products based on the garbage mortgages these lenders sold. No one knew how bad they were except for the lenders. The criminals are the Counterparties like GOLDMAN and the foreign banks who through a back door got 100% of their investments back.
THIS IS THE PROBLEM. WHERE IS THE INTELLIGENCE IN THIS COUNTRY?
Why did Bernake former goldman get away with this? THIS IS THE CONFLICT
The accounting/audit firms never learn. They have been partners in crime for virtually every major financial failure in this country.
Investors rely heavily on the accuracy of their work and details of any comments they have regarding a customer’s ongoing business activities. We shouldn’t. I am beginning to think that the huge fees they receive offset any fiduciary duty to the public they might have.
The accounting/audit firms never learn. They have been partners in crime for virtually every major financial failure in this country.
Investors rely heavily on the accuracy of their work and details of any comments they have regarding a customer’s ongoing business activities. We shouldn’t. I am beginning to think that the huge fees they receive offset any fiduciary duty to the public they might have.
I’ll let the lawyers, accountants, juries and judges figure out the efficacy of this claim, but I’m most interested in the final paragraph.
Why?
Remember, the Federal Government has said they should be able to step in and control companies BEFORE anything catastrophic happens – for the good of our economy, and the world’s economy.
Get ready KPMG and others. The government is here, and they are here to help you.
If the government moves to take control of the major accounting firms, there will be no stopping them if they eye ANY major businesses after that. They will have control of the books and be able to show via spreadsheets (which can clearly be skewed to say anything legitimate auditors want them to say anyway – see Enron) why they need to take over the next business or industry for the good of the people.
That slippery slope is quickly getting slipperier and steeper, folks. We’re going to get the protection we’re all seemingly asking for – and it’s going to be as good as any inmates can find in an insane asylum. That’s a pretty safe place with padded walls, warm jackets, three hots and a cot. What more can the little people ask for?
Read that last paragraph again and imagine the current government, with the media’s take on public demand, not saying/thinking this is a place where our increasingly socialist government needs to step in and control. After all, we can’t let this kind of worldwide disaster happen again, can we?
Final question as asked by a former citizen of a communist state close by, how do you catch wild hogs? Answer – slowly, with lots of corn, and one side of a fence at a time. I think we are getting really close to gate time.
Main Entry: pe·on
Pronunciation: \ˈpē-ˌän, -ən also pā-ˈōn
Function: noun
Inflected Form(s): plural peons or pe·o·nes \pā-ˈō-nēz\
Etymology: Portuguese peão & French pion, from Medieval Latin pedon-, pedo foot soldier — more at pawn
Date: 1609
1: any of various workers in India, Sri Lanka, or Malaysia: as a: infantryman b: orderly
2 [Spanish peón, from Latin pedon-, pedo] : a member of the landless laboring class in Spanish America
3plural peons a: a person held in compulsory servitude to a master for the working out of an indebtedness b: drudge , menial
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Perhaps if the auditors, and complicit Sr. Staff, where held criminally liable (think fraud because that is what it is!), then perhaps the KPMG’s, Enrons, Worldcoms and AIG’s wouldn’t happen.
Until there is a heavy personal price to pay for ill gotten gains, then all of the fraud will just continue.
KPMG is a privately held company. It is a partnership. The government cannot take them over.
Know your subject matter
Enough about AIG. You are talking about 16 guys out of 100,000 honest hardworking employees who have lost money too- some have lost everything !
THAT IS NOT THE PROBLEM PEOPLE!!!!!
The criminals are New Century Financial Corp & the sub mortgage lenders.
AIG sold invesement products based on the garbage mortgages these lenders sold. No one knew how bad they were except for the lenders. The criminals are the Counterparties like GOLDMAN and the foreign banks who through a back door got 100% of their investments back.
THIS IS THE PROBLEM. WHERE IS THE INTELLIGENCE IN THIS COUNTRY?
Why did Bernake former goldman get away with this? THIS IS THE CONFLICT
So KMPG doesn’t audit so good? What’s the problem?…Arthur Anderson didn’t audit Enron so good and nothing happened to them did it…?
The accounting/audit firms never learn. They have been partners in crime for virtually every major financial failure in this country.
Investors rely heavily on the accuracy of their work and details of any comments they have regarding a customer’s ongoing business activities. We shouldn’t. I am beginning to think that the huge fees they receive offset any fiduciary duty to the public they might have.
We just cash their checks, you didn’t actually expect us to earn our money did you?
The accounting/audit firms never learn. They have been partners in crime for virtually every major financial failure in this country.
Investors rely heavily on the accuracy of their work and details of any comments they have regarding a customer’s ongoing business activities. We shouldn’t. I am beginning to think that the huge fees they receive offset any fiduciary duty to the public they might have.
I’ll let the lawyers, accountants, juries and judges figure out the efficacy of this claim, but I’m most interested in the final paragraph.
Why?
Remember, the Federal Government has said they should be able to step in and control companies BEFORE anything catastrophic happens – for the good of our economy, and the world’s economy.
Get ready KPMG and others. The government is here, and they are here to help you.
If the government moves to take control of the major accounting firms, there will be no stopping them if they eye ANY major businesses after that. They will have control of the books and be able to show via spreadsheets (which can clearly be skewed to say anything legitimate auditors want them to say anyway – see Enron) why they need to take over the next business or industry for the good of the people.
That slippery slope is quickly getting slipperier and steeper, folks. We’re going to get the protection we’re all seemingly asking for – and it’s going to be as good as any inmates can find in an insane asylum. That’s a pretty safe place with padded walls, warm jackets, three hots and a cot. What more can the little people ask for?
Read that last paragraph again and imagine the current government, with the media’s take on public demand, not saying/thinking this is a place where our increasingly socialist government needs to step in and control. After all, we can’t let this kind of worldwide disaster happen again, can we?
Final question as asked by a former citizen of a communist state close by, how do you catch wild hogs? Answer – slowly, with lots of corn, and one side of a fence at a time. I think we are getting really close to gate time.
BAM!!!
Main Entry: pe·on
Pronunciation: \ˈpē-ˌän, -ən also pā-ˈōn
Function: noun
Inflected Form(s): plural peons or pe·o·nes \pā-ˈō-nēz\
Etymology: Portuguese peão & French pion, from Medieval Latin pedon-, pedo foot soldier — more at pawn
Date: 1609
1: any of various workers in India, Sri Lanka, or Malaysia: as a: infantryman b: orderly
2 [Spanish peón, from Latin pedon-, pedo] : a member of the landless laboring class in Spanish America
3plural peons a: a person held in compulsory servitude to a master for the working out of an indebtedness b: drudge , menial
Comrades, I am watching your company and your accounting ledgers. This will help me with my Socialist agenda.
Please ignore the little problem I had when I ignored my accountant’s advice and falsified my tax forms.