tag:blogger.com,1999:blog-2611021408437270881.post4893635029639969602..comments2024-03-18T23:59:39.885-07:00Comments on Skeptical CPA: SEC Faulted, Lacks GulagIndependent Accountanthttp://www.blogger.com/profile/07800220849565219709noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-2611021408437270881.post-72739784931789971522009-02-18T11:31:00.000-08:002009-02-18T11:31:00.000-08:00Hi IAForgot this little tidbit that in retrospect ...Hi IA<BR/>Forgot this little tidbit that in retrospect should have warned everyone to short Lehman stock, hooboy:<BR/>http://archives.chicagotribune.com/2008/may/19/business/chi-erin-callan-lehman-brothers-080519-ht<BR/><BR/>Amazing. I should have used this for my investment advice.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2611021408437270881.post-65594643052324763912009-02-18T11:23:00.000-08:002009-02-18T11:23:00.000-08:00IACome on now. Accounting has turned to fiction, ...IA<BR/>Come on now. Accounting has turned to fiction, and as such how can anyone be held accountable? The SEC simply recognizes that any sort of prosecution will be met with a change in accounting proceedure to allow what they have identified.<BR/><BR/>Only it will cost more to cover up the same problem in the future. Witness the results of Sarbox where the same things are being done with laxer regulations (level 3 assets), or with more layers of obfuscation lest anyone try to find any irregularities, or with sacrificial lambs that are appointed as CFO-for-a-month to sign questionable reports.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2611021408437270881.post-32115217746393360852009-02-18T10:02:00.000-08:002009-02-18T10:02:00.000-08:00I'm with Anonymous on fixing the structural proble...I'm with Anonymous on fixing the structural problems...<BR/><BR/>Emperor Greenspan has begun sketching out his view of market regulation... can't wait to see the details... since he was the Oz of monetary magic...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2611021408437270881.post-3821639831936519662009-02-18T08:05:00.000-08:002009-02-18T08:05:00.000-08:00The normal person doesn't need the SEC, they're on...The normal person doesn't need the SEC, they're only needed as cover by the people pushing financial "products".<BR/><BR/>In saving today with effort you have a choice of avoiding two of the following:<BR/><BR/>- taxes<BR/>- inflation<BR/>- risk<BR/><BR/>Actual saving requires avoiding all three.<BR/><BR/>Without inflation and taxes the small investor has no reason to be in the stock market (or any fancy financial products).<BR/><BR/>He should be just in cash, or possible some really secure bonds. Saving over a lifetime can easily support a reasonable retirement. Under these conditions "financial market regulation" amounts to counting bars and/bonds in a vault -- simple and hard to fake. So no real complex regulation is required.<BR/><BR/>The major push into the stock market is due to the pressure from inflation and taxes -- bonds are a certain loss if<BR/>not a wipeout. Fix the currency and government spending problems and the "regulation" problem will be simpler.Anonymousnoreply@blogger.com