Marsh & McLennan, AIG and now MBIA. All leaders in the insurance industry. All paragons of American business. All multi-billion dollar enterprises. All now tainted by scandals. And the sad part is that all of their accounting manipulations were designed to make their earnings look better and appear smoother. Why could they not have been satisfied with good earnings most years? Why did they need to have very good and rising earnings every year?
Shit happens in this life. Let’s acknowledge it and move on with the knowledge and the will to make it happen less often and with less dire effects.
No comments:
Post a Comment