“Yes, it is a success, if the objective was to demonstrate that people will take free money if you give it to them.”
– Joe Kristan, explaining the success of the homebuyer tax credit program, which ends today.
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Quote of the Day: Big 4 Lowball | 03.02.10
- Caleb Newquist
- March 3, 2010
“What they’re doing is buying some work to keep the staff busy.”
~ Gary Boomer, on the Big 4 low bidding smaller clients.
Accounting Rules Were Just Fine Until You Came Along
- Caleb Newquist
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“The primary result of the convergence project has been to take a set of perfectly mediocre accounting standards (U.S. GAAP) and messed them all up.”
~ Professor David Albrecht, who isn’t quite ready to dance on the grave of accounting convergence.
Quote of the Day: Did the Ernst & Young Webcast Mention This? | 03.19.10
- Caleb Newquist
- March 20, 2010
“I believe the manner in which the Firm is reporting these assets is potentially misleading to the public and various governmental agencies.”
~ Matthew Lee, former Lehman Brothers Senior VP in charge of consolidated and unconsolidated balance sheets, in a letter to certain LEH executives. He was fired.