“It’s not a sure thing that they’ll actually get around to doing anything about it.”
~ Craig Jennings, federal fiscal policy analyst at OMB Watch, doesn’t have much faith that Congress.
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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.
Tony Hayward Goes Out on a High Note
- Caleb Newquist
- July 28, 2010
“We have followed the IRS regulations as they’re currently written.”
~ The outgoing BP CEO, explaining the $9.9 billion tax credit the company took in the second quarter.
Quote of the Day: Bank of America’s Statement Sounds Familiar | 03.24.10
- Caleb Newquist
- March 25, 2010
“Efforts to manage the size of our balance sheet are routine and appropriate, and we believe our actions are consistent with all applicable accounting and legal requirements.”
~ Bank of America statement on the allegations that they engaged in balance sheet manipulation. A statement not so different from Ernst & Young’s on their final audit of Lehman Brothers.