“Right GAAP” and the move to IFRS
Whenever “risk-management” professionals characterize their prognostications as near-certain, I get nervous. Memories of the Berlin Wall, Black-Scholes, Long-Term Capital Management, Salomon Brothers and AIG dance before my eyes. Today’s exhibit A: Bruce Pounder’s September 2, 2010 CFO.com article, “Why the SEC Won’t Flip the IFRS Switch.” Pounder’s “most significant” point — that “for the SEC […]
SEC settles Dell fraud case: Execs pay millions
Is the SEC on a roll or just looking over its shoulder at salivating securities whistleblowers? On the heels of settling with Goldman Sachs last week for $550 million, the SEC yesterday announced its $111+ million take from settling accounting fraud charges against Dell Computer and several current and former Dell executives including Michael Dell, […]
SEC-Goldman settlement driven by H.R. 4173?
Was it mere coincidence that the SEC suddenly settled with Goldman Sachs for $550 million — a figure widely seen as a fraction of what Goldman should have paid — on the same day, July 15, 2010, that the new SEC whistleblower bounty program finally passed both houses of Congress?
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