SocGen And PwC – They Still Don’t Know Jack…

As those of you who follow my Twitters know, last Wednesday I had the good fortune to have dinner with our Governor and a few other State of Illinois executives and local entrepreneurs. Most were in the technology arena, as is my client, who I was there to support, cajole, nudge and share a rib […]

SocGen – New Reports Due Today

And I will have a report as soon as they are released. SocGen probe treads fine lineA report into the rogue trading scandal at Société Générale due tomorrow will be critical of the culture and behaviour of France’s second-biggest bank. The report is expected to detail how the bank flouted its own controls, making it […]

Citicorp Following Attanasio Lead In Parmalat Litigation

Hmmmmm   Maybe I should have copyrighted the term “dupe” when it comes to playing dumb to get off the hook in these accounting fraud cases.  Looks like Citicorp’s lawyers see a winner, too,  in the strategy Mr. Attanasio used to get Mr. Stulac of Arthur Andersen  off the hook in the Peregrine case. They […]

Fine Company, Even Finer Conversation

Picture Source My Twitter communiques (follow me!) reported my pleasure at the invitation to a private dinner Monday night with a delegation from the European Parliament.  I accepted it immediately, when it arrived, not knowing how or why it had.  But a luxe dinner with smart people, especially foreign visitors, is always my cup of […]

Sunday News Roundup

The WSJ does have a story about Jérôme Kerviel’s new job, but still no story about Ernst & Young’s merger move in the rest of the world outside the US. And here I thought I had to post at 11:00 pm on a Sunday night to beat the US business media to the story. I guess […]

Oh! How The Mighty Have Fallen – Update On Auditors And Their Banking Clients

Picture Source Back in November, I wrote about the imperial bankers and the impending doom and gloom that permeated the market. I warned that the CEOs and their Big 4 buddies should be nervous, too.   The Big 4 are now inextricably tied to their clients’ fortunes. Lawsuits are flying fast and furious as soon […]

MF Global, SocGen, And "Rogue" Traders – Don’t Fall For The Simple Answers

MF Global Inc., the largest broker of exchange-traded futures and options, set aside $141.5 million to cover losses by an employee who “substantially exceeded” his own account’s trading limits betting on the wheat market. The company’s shares fell 28 percent, the biggest drop since their July debut, after the firm said broker Evan Dooley made […]

The Topic Is BDO – Discuss

Neil McIntyre, CA-in-Waiting and Canadian boy-wonder blogger, wrote a post recently called, Sucks To Be Seidman. Neil is feeling this crisis personally and, if his picture wasn’t so darn cute, I would worry he was verklempt. Reasonable assurance is neither reasonable nor assured.  Discuss. Neil says: “By now, the verdict in the BDO Seidman lawsuit […]