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Dimon's Dictum: "Poorly Underwritten Loans Represent Income Today, Losses Tomorrow"
Monday, June 18, 2012 - 9:27amThe aphorism is by Jamie Dimon. I took it from his March 30, 2012 Letter to shareholders (p. 8). The immediately preceding sentence was: "Low-quality revenue is easy to produce, particularly in financial services." http://www.scribd.com/doc/88143909/Annual-Report-Letter Aphorisms are pithy....
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Microcredit Accounting Control Fraud Deepens Bosnia's Nightmare
Sunday, March 11, 2012 - 8:48pmI write to recommend reading David Roodman’s recent column in the Washington Post (“Microcredit doesn’t end poverty, despite all the hype”). http://www.washingtonpost.com/opinions/microcredit-doesnt-end-poverty-despite-all-the-hype/2012/01/20/gIQAtrfqzR_story.html?hpid=z3 Microcredit has...
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Monday, February 20, 2012 - 8:16am
The Amazing Vanishing Act: Accounting Control Fraud Disappears from the Regulatory LexiconCriminologists know that accounting control fraud causes greater financial losses than all other forms of property crime – combined. Some of the world’s best economists, George Akerlof and Paul Romer, praised the S&L regulators’ early recognition of these frauds and set out a formal...
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accounting control fraud
Benzinga Professional
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