“[It] will not be very warm.”
~ FASB Chairman Bob Herz, on the financial services industry’s reaction to the Board’s new proposals for valuing loans and loan-like instruments at their market value.
Related Posts
In Other Words, Senator Levin, It’s Another Sh—y Deal?
- Caleb Newquist
- May 15, 2010
“Transfer pricing is the corporate equivalent of the secret offshore accounts of individual tax dodgers.”
~ Senator Carl Levin (D-MI), in a less colorful manner.
Handicapping Ernst & Young
- Caleb Newquist
- November 2, 2010
Ernst & Young, take my word for it, will never be indicted by the U.S. government, as a firm, for its role in any Lehman fraud that’s eventually proven. It’s also highly unlikely – 1000 to 1 odds I’d say – EY will be fined by the SEC or the PCAOB, as a firm, in a civil or disciplinary case.
~ Francine McKenna says it’s a longshot.
As to Whether Allen Stanford Knew His CDs Were Worthless
- Caleb Newquist
- August 27, 2010
“I think it’s obviously obvious.”
~ Forensic accountant Mark Berenblut, responding in the affirmative that R. Allen Stanford knew he was “misrepresent[ing] the liquidity and soundness of the CDs.”