“The primary result of the convergence project has been to take a set of perfectly mediocre accounting standards (U.S. GAAP) and messed them all up.”
~ Professor David Albrecht, who isn’t quite ready to dance on the grave of accounting convergence.
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Memo to the Wealthy: Death Is Looking Like a Good Option
- Caleb Newquist
- November 30, 2010
“I have no confidence that this Congress will address the estate tax.”
~ Joe Kristan has a morbid outlook.
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The Goldman Sachs Hearing – Uncensored! (Literally)
- Adrienne Gonzalez
- April 28, 2010
“How about the fact that you sold hundreds of millions of that deal after your people knew it was a shitty deal? Does that bother you at all?”
– Senator Carl Levin (D-MI) to Goldman Sachs’ Daniel Sparks, regarding SEC allegations that Goldman Sachs sold knowingly shitty CDOs to clients.
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Off-Balance Sheet Accounting 2.0
- Caleb Newquist
- October 8, 2010
“They will help investors to better understand off-balance sheet risks, and to alert them to the possibility of so-called window dressing transactions occurring at the end of a reporting period.”
~ Sir David Tweedie talking up the new rules that were published by the IASB today.