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You might recall that this followed shortly on the heels of Enron, Worldcom, etc.
This was around the time Peekaboo (PCAOB) was established in order to take charge of the setting of accounting standards.
You might recall that this followed shortly on the heels of Enron, Worldcom, etc.
This was around the time Peekaboo (PCAOB) was established in order to take charge of the setting of accounting standards.
Please find and refer to the correct thread for farther questions to me on the matter.
Why do you think they went under?? Generally Accepted Accounting Principles (GAAP) allowed them to recognize the highest payment of option ARMs (the principle and interest payment amount) when they were only receiving the lowest monthly payment on option ARMs (the below interest, negative amortization amount).
*Edit - maybe I linked the wrong article, but this has been discussed ad infinitum in this forum.
I, for one, appreciate it. I hope the debate stays on Friday (regardless of location).
But if it were moved, I'd understand. They are Senators, they should vote on the single greatest financial risk undertaken by the American taxpayer in US history.
That is BS
McCain is on the ropes now. Obama has put up a 10 pt lead. McCain knows that everything hinges on the economy as to who gets elected.
No I'm not, think about it. Friday will be an all day session in the senate. There will be no designated time for the votes. It could be done in the early afternoon, or late evening, or even past midnight and beyond.
You obviously don't know how the senate works.
Running continual speeches, debates, information throughout the session, it will be impossible to focus on two things. Even is the debate is rescheduled, there is no way to know if the senate session will finish in time.
This is classic McCain. Doing what he believes is right. I'm starting to respect him even more, even though I disagree with many of his ideas.
Neither one of them chairs a committee handling the bailout. This is just posturing by McCain.
and wtf is "Suspending is campaign" supposed to mean, considering at this point in both campaigns much of the work is done by his staffers and the RNC anyway? Will he stop running ads telling us lies? Stop running negative attack ads again Obama? Or just stop going around offering really ty, poorly attended stump speeches? Cause that last thing hardly seems like much of a sacrifice.
Listening to Obama right now, he isn't saying anything important.
Dang Manny, give the guy a break. You ever been given a pressing assignment at 4:30 when you're supposed to get out of the office at 5:00? That sucks, man.
Your problem is that you fail to acknowledge my superior knowledge of financial matters, if I may paraphrase one of your posts from another thread.
Yes supergirl...he is also cancelling all of his appearances with Chris Rock as well.
Suspending is not quitting. McCain simply is going to stop campaigning for at least Friday while he actually does what he was elected for as a senator. I guess Obama doesn't take his job seriously.
McCain will resume campaigning. He simply wants to focus only on the current crisis. Obama is still more concerned about winning rather than what's right.
Glad to have such an unbiased observer fill us in.
Please stay on the thread topic. It's growing fast, and doesn't need your vindictive trollish bull .
Please find and refer to the correct thread for farther questions to me on the matter.
they're talking to obamessiah now and he's still bringing up a stimulus package. that it doesn't need to be in this bailout.
stimulus package?!
They didn't go under because of this. They went under because they bought ty debt.
People have been pointing out that these ARMs and general loan practices in the run up to this have been a disaster waiting to happen for years.
Bush, or more likely, Cheney ignored this information because of his enduring faith in "the market" to sort this out and that there didn't need to be any regulation of lending practices.
Then provide the link to the thread, asshole.
BAA-AA-AA-AA-AA-AA
mccain is not a multi-tasker. it's too much to ask of a man his age. we need a president that can handle more than one thing at a time.
Obama winning is what is right for America!!!
Yeeeeeeeaaaaaaaaaahhhhhhhhhhh!!!!!
Oh jesus christ. Someone asked him a question and he said he called Pelosi and Reid and told them not to include any of the democratic pet projects they wanted to include in the deal.they're talking to obamessiah now and he's still bringing up a stimulus package. that it doesn't need to be in this bailout.
stimulus package?!
I don't remember the link.
Do your own homework.
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