Please ensure Javascript is enabled for purposes of website accessibility
November 28, 2022

Footnotes: A Tale of Two TARPS; The Real Problem with Bank of America’s Accounting Problem | 04.30.14

Ed. note: forgive the brief FN, our highly-trained team of monkeys is working on a big story for you guys — stay tuned!

U.S. Lost $11.2 Billion in GM Bailout, TARP Report Says [Bloomberg]

Here is an interesting article about why Facebook blows [Deadspin]

Treasury's Repo Men Take Back Tractors, Piles of Cash, and Other TARP Loot “Crime in banks, particularly by insiders at banks that applied for or received TARP, erodes the American public’s confidence in the banking system, making the banking system another victim of the crime,” Romero says in a new report to Congress. [Businessweek]

What Bank of America’s Accounting Mistake Can Teach the Market If Bank of America took five years to discover the true nature of its exposure to risk in structured products from Merrill Lynch, then what about the other big banks? Do they have strong enough management of their risks and good internal controls to detect accounting problems? Especially with structured products, it is worth analyzing whether the auditors — both internal and external — are getting enough information on how the banks value and measure their risks. [DealBook]

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Related articles

a dog in fall leaves

Friday Footnotes: How EY Fights Poaching; Lack of Staff Is Closing Doors; Accounting to Biglaw? | 11.25.22

Big 4 FRC to fine Deloitte £440k over 2018 audit [Accountancy Today] The Financial Reporting Council’s Audit Quality team has issued a notice of a proposed sanction on Deloitte, proposing a regulatory penalty of £440k after it was determined that the Big Four firm failed to comply with the auditing framework in its audit of […]

kitten in autumn leaves

Friday Footnotes: Retired EY Partners Hate on the Split; It’s a Raid!; ‘An Alphabet Soup of Technology’ | 11.18.22

Big 4 EY split threatens to weaken both sides of firm, say retired partners [Financial Times] More than 150 retired EY partners have written to the accounting firm’s leadership objecting to the radical plan to split its consulting and audit businesses. In a three-page memo seen by the Financial Times, the retired US partners say […]