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This Fall, It’s Do or Die for Accounting Rule Convergence

Posted on July 7, 2010 by Caleb Newquist

“If we can’t get converged (on financial instruments), it would suggest the convergence effort is going to be challenged and questioned on a significant basis.”

~ FASB member Tom Linsmeier levels with everyone on the FASB’s big test in the convergence process this fall.

Posted in Quote of the DayTagged Accounting rule convergence, FASB

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“[I]t is hard to justify giving special compensation to the investors of Mr. Madoff and Mr. Stanford just because they lost significant amounts of money with little prospect of any recovery.”

~ Peter J. Henning, on Madoff and Stanford victims lobbying members of Congress for a law that would compensate them for some of their losses.

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This Could Easily Be a Member of Congress

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“We are grateful to the courageous taxpayer who came forward to notify the United States attorney’s office of a corrupt public servant.”

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“We don’t want the Wal-Mart audit.”

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