Triangulating Law, Data & Ethics
For an eloquent illustration of how accounting innovations like FAS 157’s “fair value” regime are way beyond even above-average American financial readers, try Michael Rapoport’s May 1, 2009 article entitled New FASB Rule Aims to Clarify ‘Net Income’. Rapoport, trying to capture the meaning of the new SFAS No. 160, stumbles over one of the […]
Lenders have been hammered by the pathologically procyclical impact of FAS 157’s mark-to-market regime. Hardly surprising, therefore, that banks and credit unions came out in force to support the latest FASB “clarification” of FAS 157. Some other commenters, mostly from the “analyst” community, emphatically disagree.
The federal False Claims Act (FCA) encourages private whistleblowers to sue, usually in partnership with the U.S. Department of Justice, to recover federal funds allegedly misspent by individuals, companies or local government agencies. Rewards of blowing the whistle can be very substantial — up to 30% of the government’s recovery plus attorneys fees — but […]
