and THEY WILL GET it or should i say pay off lawmakers and then legally get the power fudge.

financial lobbyists come to congress with checks in hand to write the laws in their favor

congressmen can then pay for commercials that win voters over with this money

Their is no voice that gets HEARD among congressmen or media FOR THE PEOPLE .....game set match.

Should people go hungry then their might be a revolt.....but the public will be outsmarted byintelligence propoganda that would front run any hunger problem

Aren't the banks just asking to use the same accounting principles the government uses?

IMO, fuzzy math has been the name of the game for quite a while.

Otherwise Maddoff, Enron, failing banks and mortgage companies number game would have been discovered from day one.

The thing is, there are many different Accounting options to use, but a company is not supposed to change those options often... most don't ever. Yes, whichever option a business uses can make a difference to bottom line (is the concern income taxes, is it something else, what is being measured at the end of the year?) If I understand this right, the banks are advocating the ability to change the Accounting method used, depending on the economic situation... this can be very bad.

Right now, the ability to change a current method is generally based on bringing a business into industry standards (ensuring that one company is using the same method as another in the same industry) it allows for comparison. These methods don't change often because if they are allowed to change at whim, than massive fraud could be buried and the public would not ever be given a clear picture of business activity. It would also eliminate the ability to compare across sectors and across time.

ETA: not to suggest that fraud doesn't continue to happen... shall we talk SEC failures... (grrrr)



[edit on 6-11-2009 by LadySkadi]

INSIDE INFO

they already fudged

BOFA tapped Theoretical physicist student to form a small team of Brown alum's to re create their books in early 2008...

Originally posted by jam321
Aren't the banks just asking to use the same accounting principles the government uses?

IMO, fuzzy math has been the name of the game for quite a while.

Otherwise Maddoff, Enron, failing banks and mortgage companies number game would have been discovered from day one.

If someone was minding the store -

Originally posted by Janky Red

Originally posted by jam321
Aren't the banks just asking to use the same accounting principles the government uses?

IMO, fuzzy math has been the name of the game for quite a while.

Otherwise Maddoff, Enron, failing banks and mortgage companies number game would have been discovered from day one.

If someone was minding the store -

the SEC ... dropped the proverbial ball, big time ...


[edit on 6-11-2009 by LadySkadi]

Originally posted by LadySkadi

Originally posted by Janky Red

Originally posted by jam321
Aren't the banks just asking to use the same accounting principles the government uses?

IMO, fuzzy math has been the name of the game for quite a while.

Otherwise Maddoff, Enron, failing banks and mortgage companies number game would have been discovered from day one.

If someone was minding the store -

the SEC ... dropped the proverbial ball, big time ...


[edit on 6-11-2009 by LadySkadi]

who is who - where does one begin and one end?

thats problem #1 IMO