“You give lame excuses then, and you’re giving lame excuses now.”
~ Representative John L. Mica, Republican of Florida to Tim Geithner on his role in the bailout of AIG.
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Dov Charney’s Business Sense Doesn’t Include Reliable Financial Statements
- Caleb Newquist
- August 26, 2010
“He flies in the face of business sense, fashion manufacturing and retailing sense.”
~ Bryan Roberts, research director for retail analysts Planet Retail, couldn’t get through to Deloitte in time with this message.
The PCAOB Has a Plan B if the Supreme Court Manages to Make a Huge Mistake
- Caleb Newquist
- May 22, 2010
“In the event that the PCAOB does not prevail – and the decision requires a legislative change – I would urge Congress to act quickly to fix whatever structural problems the Court identifies.”
~ Interim PCAOB Chairman Dan Goelzer, in testimony today.
Accounting = Weapons of Mass Destruction
- Caleb Newquist
- July 20, 2010
“Accounting is the CEO’s “weapon of choice” that transforms the perverse incentive into what economists, regulators, and criminologists agree is a “sure thing” in crises (means).”
~ William K. Black, Associate Professor of Economics and Law at the University of Missouri-Kansas City.