You cannot carry out fundamental change without a certain amount of madness. In this case, it comes from nonconformity, the courage to turn your back on the old formulas, the courage to invent the future. It took the madmen of yesterday for us to be able to act with extreme clarity today. I want to be one of those madmen. We must dare to invent the future.
-- Thomas Sankara, 1985

Tag Archives: SIV

The Banks Are Already Insolvent

Posted on 16 December, 2007 by mike

Auditors are in a difficult position in these post-Enron days, with the demise of Arthur Andersen on everyone’s mind. If they refuse to rubber-stamp the banks’ fictitious valuations, the banks will collapse, but if the auditors allow the fiction, they … Continue reading →

Posted in Economy, Finance | Tagged Bank Insolvency, Basel Regulations, Economy, Finance, SIV | Leave a comment

Tag Archives: SIV

The Banks Are Already Insolvent

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