Current Affairs General US politics (ie, not POTUS related)

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Pittsburgh Footy said:
I’m a CPA that has worked in financial reporting as an auditor or for SEC registrants my entire career

The Enron guys broke virtually every SEC and GAAP rule under the sun
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My read of the situation as I was following along was that they bent GAAP astonishingly hard, but that the purpose of the text of Sarbanes-Oxley was in large part to explicitly outlaw the things those guys did as they were previously gray areas in the law. By contrast, WorldCom management did things that a first-year accounting student would know are explicitly illegal.
 
Martin Alvito said:
My read of the situation as I was following along was that they bent GAAP astonishingly hard, but that the purpose of the text of Sarbanes-Oxley was in large part to explicitly outlaw the things those guys did as they were previously gray areas in the law. By contrast, WorldCom management did things that a first-year accounting student would know are explicitly illegal.
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True to the extent That Worldvom was smoking gun fraud. Obvious and simpler

Sarbanes Oxleu is a joke and was a jackhammer when a shovel was all that was needed. And yes GAAP rules were clarified following Enron. But what they did with their debt shell games was fraud even before those new rules. And Andersen knew it
 
Pittsburgh Footy said:
True to the extent That Worldvom was smoking gun fraud. Obvious and simpler

Sarbanes Oxleu is a joke and was a jackhammer when a shovel was all that was needed. And yes GAAP rules were clarified following Enron. But what they did with their debt shell games was fraud even before those new rules. And Andersen knew it
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If you want to argue that the intent was at least deceptive, I am absolutely in agreement. Andersen deserved to burn for that.
 
LinekersLegs said:


A damn sight more than Dennis has ever done, 5th graders (~10 years old) commonly make people smile

“If my father had said to me, 'the world is better because you are in it.' I would have believed he was drunk." What a sad childhood
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This bizarre belief that everyones contribution should be quantified by GDP, its like they are a different spiecies
 
Martin Alvito said:
Not bizarre at all, if you watch the clip. They're claiming that a citizen of the correct political persuasion would not be prosecuted.

There may be some truth to the claim. If someone transported the folks from Martha's Vineyard back to Florida and set them up with jobs, I doubt they're getting prosecuted for it. What is going unsaid there is that it's the motivation for moving those people that matters. If you're just jerking their chain, that's morally wrong.

I would argue that, as I understand accounting laws prior to Sarbanes-Oxley, the 'smartest guys in the room' from Enron did nothing illegal. They ended up in the clink because their actions with respect to freezing employees' retirement savings were incredibly immoral, and it wasn't hard to get twelve people to agree that they deserved to be punished irrespective of whether the gray areas in the law they operated in were kosher or not.

It's a clever sleight-of-hand that uses the liberal/conservative divide to obscure the real issue here, which is the moral character of DeSantis's actions.
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As I understand it the transport might not even be a problem legally


Although this might be
 
Walken said:
This bizarre belief that everyones contribution should be quantified by GDP, its like they are a different spiecies
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It's an odd take for a group of people that claim to believe in Christianity and economics, seeing how the GDP contribution of Jesus was probably net negative and the fact that quantifying human value as GDP inevitably leads to externalities and the tragedy of the commons.

This does explain why they don't care about the health of the planet. The thought process lies at the intersection of narcissistic and short-run thinking. Your only value, according to them, is the tax revenue that you create today, the only correct moral values are theirs, and those moral values apply to  you but not  them.
 
Tin-Tin said:
Sounds like DeSantis may be in trouble here.
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A quick Google search suggests that the information in the brochure is a substantively accurate description of Massachusetts refugee assistance programs.

It's also really poor optics, if you think about it for a minute. It says, "We don't want to engage in social spending of this character, because it's cheaper to just export these people to a state that cares about them."

It then becomes fair to ask, "At what point will the state make the same call with respect to  me?"

This sets aside the issue of whether or not false promises or inducements were made, which will be hard to prove when Florida will just point to the brochure, claim that its contents are the entirety of what was said, and deny responsibility for any 'misinterpretations' that may have occurred.

This doesn't seem to fit statutory descriptions of human trafficking, etc. either, though God only knows what case law says on the subject. I suspect that this plan was vetted by competent attorneys. DeSantis is spending money allocated by the legislature for the purpose, so he's kosher on that one.

It's newsworthy (and backfired) due to the contrast between the actions of DeSantis and the residents' response. It shows just how callous DeSantis is, but you already knew that.
 
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