Open Question
We used to have the big eight accounting firms. Now we are down to what, four?
Who audits these financial companies, a bunch of fifth graders? Andersen took
the hit for Enron where's the outcry for heads to roll in these CPA firms who
obviously grossly dropped the ball on asset valuation with regard to these
securities? And Sarbanes Oxley has made auditing more difficult.
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when i had some shares of RY (a canadian bank) there was talk of consolidation
of the banks....and then raising some kind of limit on amount of money reqired
for takeovers, then invite foreign countries in for added competition.....seemed
like news was first to set yourself up so getting bought out wouldn't be a
possibility but giving the impression that market was still playing
fair.....looks like we're in the process of doing the same thing. protect the
banks! so when should we expect to see that chinese car running around here.
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