Zynga and Facebook play out their drama in public, much to the detriment of investors who can’t leave the party early before glasses start breaking.
I was at New York University’s Vincent C. Ross Institute of Accounting Research to speak on a panel that included Paul Volcker, Bob Herz and a lawyer representing PwC and EY. The Ross Roundtable on the “Impact of Reemergence of Consulting Practices at Major Audit Firms” was well attended.
The SEC is busy chasing Ponzi schemers and foreign bribers. But bogus accounting remains a bigger danger to the markets. (More links.)
Something is still missing today, the one year anniversary of the bankruptcy of MF Global.
What’s still missing from this sordid affair is an accounting of the whereabouts of the financial auditor, PricewaterhouseCoopers.
The blog is meant to highlight, for you the reader, the broad-based influence the Big 4 have in business, politics and social policy. Their reach is only exceeded by their constant grasp.
Did the government make a profit on its sale of AIG shares last week? Is that even the right question to ask? The former Special Inspector General of TARP Neil Barofsky and I think it’s not.
The writer must earn money in order to be able to live and to write, but he must by no means live and write for the purpose of making money. Karl Marx
My Friday, August 10 column at American Banker is a review of Neil Barofsky’s book, “Bailout: An Inside Account of How Washington Abandoned Man Street While Rescuing Wall Street.”
The new CEO of Yahoo was already a sensation before she announced, three hours after Yahoo announced her new job, that she is six months pregnant. I waded into the conversation reluctantly.
I have an opinion piece in the Financial Times today in honor of the tenth anniversary of Sarbanes-Oxley on July 30.
Yesterday’s column at American Banker digs into the accounting for JP Morgan’s reported “hedge”. I was shocked – OK, not really – that no main stream media outlet had explained the stunning announcement made by Jamie Dimon last Thursday.
My column on the subject this morning at American Banker is getting quite a bit of play. Dimon’s mea culpa on the loss was timed to avoid lying, again, to a room full of people – JP Morgan’s Annual Meeting is tomorrow May 15 – about how bad 2nd quarter results will end up.