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Politics : Formerly About Advanced Micro Devices
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To: combjelly who wrote (389319)6/6/2008 8:06:14 PM
From: i-node  Read Replies (1) of 1574537
 
>> You clearly don't know the issue.

Well, I don't know what you're talking about, but I can tell you that by law, every profit-seeking entity must keep records sufficient to establish whether they in fact sustained a profit or a loss and how much it is during each reporting year.

Now, as to what information they choose to share with investors, shareholders, creditors, and others, that's a different issue altogether.


There are people who have avoided foreclosure because it can't be proven who actually holds their note. It has gone off into derivative land with out an inadequate paper trail. Now, if you consider that to be keeping records, well...


There is nothing new about this. As a CPA who specialized in real estate transactions in the 80s, I represented many debtors whose paper had made its way to FSLIC or was in some state of transition between creditors. I had one client who stopped paying for 18 months before anyone noticed because nobody knew who owned the paper.

It isn't a matter of not keeping records.
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