Where the f*ck were the auditors (again)?
Everything's fine
Everything's fine
Everything's fine
OH CRAP!! $10 BILLION WRITE-OFF AND MORE TO COME!
I mean come on, did they just find out? I mean, we've known FOR YEARS!
Incompetent corrupt monkeys HP'ers. We have incompetent and corrupt monkeys running the show in America today. And nobody's looking out for you.
December 12, 2007
HousingPANIC Stupid Question of the Day
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13 comments:
I dig the blog. Good work fellas
Keith and all HPers,
Here's an interesting link to a short video with Patrick Byrne of overstock.com saying that the economy is a house of cards and we're headed for global financial meltdown. Of course the dopey interviewers try to change the subject!
http://tiny.cc/j9yiB
Auditors only audit the numbers that the company gives to them. If they companies use fraud in their numbers - the auditors will not find it.
However - with Sorban-Oxley - now the CEO can be held at fault if the numbers have fraud.
Marky Mark
I used to work as an internal auditor for a company I won’t name.
For in-house auditors, the problem is that their department is just another department.
Identifying the problems isn’t the hard part, getting anything done about it is.
I won’t tell you how many times I’ve had investigations killed by HR or Operations. The operations argument usually came down to “we’re having staffing problems, so we don’t want to get rid of them now”.
The HR argument came down to “how can you be sure. Black and white are only black and white if we admit that it’s so”
Yes, hard as it is to believe, they wanted to keep the person who’s stealing $20k a year because it would be hard to replace them.
It’s similar to the situation that appraisers were in. Their checks were being paid by the people who had a need to keep the loan alive. If they were too hard, they were “deal killers”.
I have a relative who was an appraiser. She was a deal killer, and they wound up firing her for it. Good thing she kept her self-respect, the company when under shortly after when they had too many defaults.
Too much Starbucks homee...
Auditor = Lawyer = Fraud/Deception
Welcome to the Depression. You have earned it.
Joe Six Pack (belch, fart). When's NASCAR on?
the whole idea behind auditors is their independence from the company being audited.
now i have a message for all auditors, CPAs, the AICPA, the NYSE, the SEC, congress, president and everyone esle connected.
IT'S FRACKIN IMPOSSIBLE TO BE INDEPENDENT FROM SOMEONE PAYING YOU MILLIONS OF DOLLARS!!!!!!!!
damn i'm sick of the whold audit world.
(i am a CPA btw)
Ken Lay, former CEO criminal of Enron - in charge of the world's largest stock FRAUD ENERGY SCAM - was best friends with GW Bush. Yep, best pals!
So, if you connect the dots, you'll understand why the FAA flight control tower tapes from the morning of 9/11/2001 - were destroyed by the CIA (which was under the GOP management of Bush's father, and his elite group of oil and money thugs.)
The truth is much worse than reported on "THEIR" NEWS and MEDIA outlets.
It's funny how our US elected officials wont even impeach them for their lies, crimes and cover-ups! That alone should tell you everything else you need to know about Obama, Hillery, Rudolph, Mit and the rest. All 100% criminals.
Go Ron Paul!
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Hey, I work with that guy!
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At least their good looking, vegitarian monkey's....
Well, you all Americano were happy balloeying, yelling, and screaming for "Shrub and Shooter" during the last 8 years. Guess what ? Those are the two monkeys that have been shitting on your head. Smell that stinky odor ? That's monkey excrement !!!
Stupid, illiterate, uneducated, ignorant, pompous-ass human being Americano which can not tell a monkey from a homo sapien and thus voted for a monkey...
You reap what you sowed !!!
Ron Paul is looking out for you but America is too stupid to realise. I've been reading his book "A Foreign Policy of Freedom" which is basically a collection of transcripts of his speeches in Congress from the last 30 years which outline clearly and succinctly the problems with US foreign policy and monetary policy. He predicts an event like 9/11 happening due to the hatred incited toward the US by it's intervenitionist foreign policy. He predicts the housing bubble also. When you look at his voting record in the house where he is consistently the single vote in the house that opposes resolutions at first glance you'd think what a nut. On closer inspection and hearing the well constructed arguments he presents you realize just how corrupt the system is and has been for decades. Where the absolute majority of Congressman vote based on party politics and the wishes of lobbyists rather than rational and constitutionally based thought.
The system is truly screwed beyond repair and I have to agree with Mike Whitney - the only hope for change is as a result of a complete economic collapse.
Two weeks ago UBS said they were on target for a profit. Two weeks later they have a 10 billion write off. Amazing how a 10 billion dollar loss can just sneak up on you out of nowhere. I bet the sudden loss was because the auditors have found religion and refused to sign off on the bogus numbers. Or maybe the auditors remember Arthur Anderson.
Great photo Keith! LOL
The problem today is that these exotic investment vehicles WERE/ARE *off* balance sheet assets! How can anything be OFF the balance sheet? unheard of and now they are forced to mark to market and there is NO market... INSANITY! Who the heck wants to buy this crapola.
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