When accounting goes unaccounted for
“The Big 4 don’t even like being called AUDITORS. Rather they provide ‘ASSURANCE Services,’ and act as ‘TRUSTED ADVISORS.’ This isn’t just rhetorical. It’s a cynical PR move and an effort to limit their liability.”
~ Francine McKenna, who will be on a panel with Lehman Brothers Bankruptcy Examiner Anton Valukas, NYT Chief Financial Correspondent Floyd Norris and others, discussing the financial crisis.
“Though more needs to be done, we are seeing some signs of stabilization in the housing market, including house prices and sales in some key geographic areas.”
~ Charles Haldeman, CEO of Freddie Mac. The “more needs to be done” includes additional government funds.
“Lehman’s books were in such a mess that I don’t think they knew where they were.”
~ Elizabeth James, a director of Barclays’s futures business, testifying in bankruptcy court.
“I have not violated any House rules. Therefore, I simply will not be forced to admit to something I did not do.”
~ The California Congresswoman, in a statement, won’t be going quietly.