When accounting goes unaccounted for
“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.
“This administration will side with those who want fundamental change. It is not tenable to leave in place the system we have today. We will not support returning Fannie and Freddie to the role they played before conservatorship, where they fought to take market share from private competitors while enjoying the privilege of government support.”
~ The Treasury Secretary has had it up to his coif.
“Well, that’s what I did.”
~ Bernie Madoff’s to a fellow prisoner telling him that taking advantage of old ladies was “kind of fucked up.”
“In 2,500 pages of dense prose, we’re about to receive legislation that could better be entitled ‘The Lawyers’ and Lobbyists’ Full Employment Act.”’
~ Harvey Pitt, former SEC Chairman, graduated with his law degree from St. John’s in 1968.