Home -> Law Blog Directory -> Law Students Blogs -> Nuts & Boalts

Law Students

: Nuts & Boalts

A Must Read

Prepared Testimony of Harry Markapolos (PDF). The second part, regarding reform of our regulatory bodies, reminds of one thought I've always had. I think one reason for the mess we are in is because it's so easy for banks to pretty much misrepresent their holdings in financial statements. I mean they're banks. They can hide liabilities a million ways. An auditor friend in this line of business essentially confirmed this shenanigans.

I think it goes without saying the GOP will instinctively oppose any efforts to strengthen financial regulation. By their standards, even Hammurabi over-regulated the bartering in Babylon.

Full post as published by Nuts & Boalts on February 03, 2009 (boomark / email).