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 […]

Fannie and Freddie – Incorrigible

Fannie Mae’ s external auditor was KPMG but now KPMG is suing Fannie. Didn’t seem to bother Deloitte, who jumped at the chance to get close to Fannie. Freddie Mac’s external auditor is PwC, who hates to abandon a sinking ship. PwC inherited this mess from Arthur Andersen. Fannie Mae, Freddie Mac Warned on Accounting […]

Live From The Capital Markets Summit

The summit started a little slowly. One panel included Steve Bartlett of Financial Services Roundtable. He rattled off several proposed reforms they are putting on the table for legislative action. Then they didn’t allow questions from the audience in order to stay on schedule. One proposed reform is to allow the audit firms to raise […]

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 […]

Is It Financial Expertise or New Blood That’s Improving Boards?

—–Original Message—–From: Roman Weil [] Sent: Friday, April 15, 2005 12:27 AM To: Ms. X Cc: dcoates@gsb.uchicago.eduSubject: Doug: This is Ms. X, (the commenter from last night), who had that clever insight about its being independence, not literacy, driving our results. She wants to be in touch with us. Ms. X: You are terrific. many […]