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POPSSwitch To Global Rules With the growth of the global economy, it makes sense that companies have a common accounting system. But getting on the same page will be costly.
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POPSMental Health to Improve After Obama Win? In a testament to how much people had invested in this election, I've seen a handful of articles in the past few days talking about how an Obama win will relieve or increase stress amongst Americans. A lot of the reporting is anecdotal, as is the case with this story, but I thought it was an interesting idea. Those who feel relieved are hoping to reestablish trust with leaders over the economy and also see an Obama win as opportunity to improve race relations. Do you feel less stressed out now that the presidential election has been decided?
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POPSInnocent Govt Bailing out Evil Industry=NOT ! Congress passed the Sarbanes-Oxley Act in 2002, placing some very stringent, inappropriate, and inflexible reporting rules on financial institutions. Under this law, financial assets must be valued at fair market value--- even if they are not for sale! The Working Capital Model eliminates this problem entirely, but it is difficult to apply when the individual securities are not identifiable. More than 95% of Americans are making their mortgage payments right on schedule, yet there is no market for the financial products that contain these mortgages. Consequently, balance sheets reflect trillions of dollars less than the maturity value of the securities held by the financial institutions.
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POPSWhen Rules and Regulations Don't Mean Squat This is indicative of the lackadaisical attention being paid to rules and regulations that are designed to prevent this from happening. This situation is widespread in both the government and private sectors. Weapons and money have been 'lost' or 'misplaced' in Iraq; weapons and laptops are 'lost' or 'misplaced' by the FBI and ATF; personal records are 'lost' or 'misplaced' by trusted organizations; and the American economy is in the toilet. All because individuals are circumventing rules and procedures because they don't take their responsibilities seriously or use loopholes to better their personal financial situation, usually at our expense. And all we the taxpayers ever get out of this is a bogus line such as "We are revising our procedures". As long as people in responsible positions disregard procedure or undermine rules we the general public will always suffer the most.
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