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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (263253)	7/22/2010 8:05:07 PM
From: ggersh	Read Replies (1) \| Respond to of 306849

" A lot of news reporters find one source and assume that guy has done his homework and has done it correctly." That's why reporters assume they are journalists. So sad!

To: Knighty Tin who wrote (263253)	7/22/2010 9:18:11 PM
From: posthumousone	Read Replies (3) \| Respond to of 306849

who is fact checking the auditors of the euro stress test? i know answer to that, no one.. question i really hope someone has answer too: how many SOX audits have actually occurred which resulted in company been heavily fined for falsifying records? Yes a whole new industry sprouted up to support SOX but what has it done? Yes you can argue it 'restored public cofidence'. Working on the SOX and BI side for many companies, I know the mantra is hit x number. Make it work. It takes months to figure out a business process and workflows that constitue the true makeup of most business reports. That itself is scary. IMO and experience these defeciencies are easy to 'get around'. Rewrite this, redocument that (sometimes, usually that doesnt even happen) and voila' the number magically falls in line with managers expectations, which gets passed up to director passed up to XXX. People get bonuses, consultants get paid and everyone is happy. I live and breath this every day. No one wants to really pull back the covers. Side note: are you confident knowing that the SEC has been busy watching PORN and TTT not paying taxes during this era? I suppose everyone is as the market looks past the bad and focuses in on the stellar earning reports. How much confidence do you have in the earning reports? Enron, WorldCom and Banking crisis are long forgotten. Its just new era of suffling numbers. You have to believe or be priced out forever. PS i love how AMZN headline has switched from missing earnings to signed exclusive deal with random house....