The Berkshire Hathaway Annual Meeting draws a huge crowd because it features several hours of the wit and wisdom of Berkshire Hathaway CEO and Chairman Warren Buffett and his friend and Vice Chairman Charlie Munger. To say that Buffett, Munger, and Berkshire Hathaway have a cult-like following would be a a significant understatement. I attended the meeting and here’s my report.
Some may say that tweaking New York Times reporters to make a point about auditor liability, especially one so prominent such as Andrew Ross Sorkin, may not be a great career move. But then you’re assuming my idea of a “career” is yours. I call them as I see them, and the two blog posts in […]
The Economic Affairs Committee of the House of Lords questioned representatives of the four largest audit firms on the issue of “going concern” opinions during the financial crisis. In particular, why were there none for the banks that failed, were bailed out, or were nationalized? The auditors admitted that they did not issue “going concern” opinions because they were told by government officials, confidentially, that the banks would be bailed out.