Here's a modest proposal from another accounting professor, Edward Ketz, for fixing the economic slump. It's in keeping with what the Financial Accounting Standards Board (FASB) just did. Tell it like it isn't, and investors will swoon with excitement. Thanks to Paretta for this entry into the hall of fame for stimulus ideas.
Prof. Paretta's latest words of wisdom? Cash flows don't lie. Follow the cash flows. I'm trying to do that, but gosh, it's hard to know what all those "debt vehicles" are which gave Verizon lots & lots of cash in 2008. (Won't they have to pay it back some day?) Please, Paretta, help!
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1 comment:
Judy,
Aren't you going to gloat at all about the "revelations" last week that Summers took millions from the hedge fund industry? I mean, this accounting standards stuff is outrageous, but Summers? Beyond the pale.
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