Archive | October, 2008
Fair Value Accounting Being Challenged Overseas
Japan’s Finance Minister is announcing a review of mark to market rules to determine if a better valuation standard can be applied. If indeed another standard were created it would have to be partly based on speculation and that would entail, as one UBS analyst put it, creating a “black box” pricing methodology [...]
Continue reading...Help Nail Fraudsters - Join The FBI Citizens Academy
20. October 2008
Calculated Risk (one of the finance blogs I read regularly) just posted an article from the NY Times which discusses how the FBI’s resources are stretched too thin and as a result, they don’t have the manpower to handle the glut of financial and whitecollar fraud cases plaguing our financial markets. In response to this shameful [...]
Continue reading...Feds Probe Lehman’s Dick
18. October 2008
Ouch…that’s gotta hurt. United States attorneys are scrambling to build a case against Richard “Dick” Fuld and the Lehman giant that he sunk. I think this is just the start of a series of investigations and hopefully charges that will be brought against these a-holes that took us to the edge of an economic black [...]
Continue reading...Another Enron Exec Is A Crook
17. October 2008
What a phukin’ surprise, another Enron Exec is found guilty of fraud. This time, it’s Joseph Hirko, the former co-CEO of Enron Broadband services. Here’s a tasty bologna sandwich for you, Mr. Hirko. Mmmmm….
Continue reading...Free Puzzle Games
17. October 2008
Hey, all you number crunchers out there. Time to put your minds to work and pull this economy out of a ditch. On October 10th, U.S. Treasury submitted a request for public comment to assist in the development of the federal guarantee of troubled assets program. The kind of insurance scheme that would help taxpayers get [...]
Continue reading...Tyco Execs Still Stinking Rats
17. October 2008
From Reuters “An appeals court on Thursday upheld the criminal convictions of former Tyco International Ltd Chief Executive Dennis Kozlowski and former financial chief Mark Swartz, both of whom are serving prison terms for fraud.” These punks collectively stole $150 million from the Company before being convicted back in 2005. Check out these sexy glamor shots…
Continue reading...Cool Accounting Tools For Cool People
16. October 2008
Mashable.com just released a really sweet list of online accounting and budgeting systems for smart and cool peeps like ourselves. I’m really psyched to see all the innovation in budgeting, accounting, billing and personal financial management that’s appearing on the internet. It’s about freakin’ time. Now, if you could only get all these disparate systems to [...]
Continue reading...I Am Legend
16. October 2008
First off, thanks to Warner Bros for this great pic. Like Will Smith’s character in I Am Legend, one needs to be prepared in these uncertain times. With the Dow down 733 points and Asian markets, represented by the Nikkei and Hang Sang Indexes falling 10% or more, it’s no wonder why law abiding citizens [...]
Continue reading...FIN 48 Deferred???
16. October 2008
Plagued by a failure to correctly implement Fin 48 amongst major public companies, it seems as if FASB is backing down on the requirement of non-public companies to comply with the disclosure requirements. Thank goodness. If nearly third of public companies can’t get their FIN 48 shit together, how the hell do [...]
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20. October 2008
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