tag:blogger.com,1999:blog-2611021408437270881.post7700876117935979500..comments2024-03-18T23:59:39.885-07:00Comments on Skeptical CPA: More Bank Accounting FlexibilityIndependent Accountanthttp://www.blogger.com/profile/07800220849565219709noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-2611021408437270881.post-19013661733165701422010-01-09T03:55:00.543-08:002010-01-09T03:55:00.543-08:00nice post. thanks.nice post. thanks.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2611021408437270881.post-62544836866739704222010-01-07T15:10:57.416-08:002010-01-07T15:10:57.416-08:00This whole discussion doesn't correspond to wh...This whole discussion doesn't correspond to what I was taught in public schools. Therefore it must be wrong...moving along, I see nothing here.<br /><br />Good Day,<br />Tongue In CheekAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2611021408437270881.post-46019132389437489162010-01-06T16:17:56.284-08:002010-01-06T16:17:56.284-08:00Anonymous:
Before the Big 87654 firm auditing the ...Anonymous:<br />Before the Big 87654 firm auditing the bank would "rat it out", it would call the OCC or OTS and say, "Boss, what do we do now"? Then after being told, "close your eyes to the obvious", opine on whatever it was told to opine on. <br /><br />IAIndependent Accountanthttps://www.blogger.com/profile/07800220849565219709noreply@blogger.comtag:blogger.com,1999:blog-2611021408437270881.post-3889127089225171662010-01-06T13:47:46.827-08:002010-01-06T13:47:46.827-08:00What would happen if GAAP says that an institution...What would happen if GAAP says that an institution is insolvent while the "regulators" say it isn't? Would the bank go on reporting liabilities in excess of assets in their financials?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2611021408437270881.post-37876638336797927262010-01-06T09:48:58.042-08:002010-01-06T09:48:58.042-08:00Auditors should oversee the reporting of facts and...Auditors should oversee the reporting of facts and regulators should ensure that investors are protected and the financial system is stable.<br /><br />If the Federal Reserve and other regulators allow a shadow banking system then we will never have stability.<br /><br />Bernanke is the most complicit in this because he uses the shadow banking system as his prime means of executing monetary policy.<br /><br />The idea that the FedRes should be the "systemic regulator" is laughable because they have already been doing that and failed miserably.<br /><br />They are the prime regulator of bank holding companies. And they get plenty of info from the OCC/<br />Treasury on the banking system.<br /><br />Through the primary dealers the FedRes looks into all the hedge funds and knows what they are doing. <br /><br />Since they are the only axe in the MBS market they, in essence, are regulating that space (a giant one). And other parts of the securitization markets too.<br /><br />The money market funds wouldn't play on repos... but they just play straightforward yield games... nothing fancy...<br /><br />The FedRes knows what other central banks and sovereign wealth funds are doing...<br /><br />Now if bank accounting was "true" investors could help "stabilize" the system. But the multiple levels of smoke have given investors tremendous arbitrage opportunities... which they have taken over and over again...Anonymousnoreply@blogger.com