The SEC's failure to take Bernie Madoff seriously shows how unrealistic it is
to expect all financial fraud to be uncovered. It will always exist.
-----Original Message-----
From: jmcculcuba <dmarc-noreply@xxxxxxxxxxxxx>
To: pa64@xxxxxxxxxxxxx <pa64@xxxxxxxxxxxxx>
Sent: Thu, Feb 4, 2021 5:55 pm
Subject: [pa64] Re: There's a lot that can be said about this, nothing good
Here's another one more recently missed, this time by E&Y.They never did
thorough bank checks to confirm reality of $1.5B held in a dubious offshore
bank(hardly a rigorous effort). This one may just be incompetence, but you
cannot trust accounting firms or rating agencies any more--been about 30 years
since they sold their souls_____________________________________________
The 1.9 billion euros ($2.1 billion) missing from Wirecard’s balance sheet
brought the chief executive officer’s arrest, the German payments firm’s
insolvency filing and a lot of finger-pointing. Some have blamed German
regulator BaFin for its oversight failures. Wirecard’s auditor, Ernst & Young,
called it an “elaborate” fraud that even a very rigorous probe may not have
discovered.
-----Original Message-----
From: rhelkins <dmarc-noreply@xxxxxxxxxxxxx>
To: pa64@xxxxxxxxxxxxx <pa64@xxxxxxxxxxxxx>
Sent: Thu, Feb 4, 2021 5:24 pm
Subject: [pa64] Re: There's a lot that can be said about this, nothing good
People who invested in Enron lost money. People who were targeted by the opioid
purveyors lost their lives, their health, their families and their assets. Huge
qualitative jump. A related moral failure has been the unwillingness of the
media to show the slightest bit of curiosity about the origin of the novel
coronavirus. There appear to be no institutions left that are not corrupt.
-----Original Message-----
From: jmcculcuba <dmarc-noreply@xxxxxxxxxxxxx>
To: pa64@xxxxxxxxxxxxx <pa64@xxxxxxxxxxxxx>
Sent: Thu, Feb 4, 2021 5:17 pm
Subject: [pa64] Re: There's a lot that can be said about this, nothing good
The demise of Arthur Andersen because of Enron was an earlier sign of US's
broad loss of moral compass
-----Original Message-----
From: rhelkins <dmarc-noreply@xxxxxxxxxxxxx>
To: pa64@xxxxxxxxxxxxx <pa64@xxxxxxxxxxxxx>
Sent: Thu, Feb 4, 2021 5:03 pm
Subject: [pa64] Re: There's a lot that can be said about this, nothing good
What I find most disturbing, in fact beyond unbelievable, is that the premier
consulting firm in the world engaged in this behavior. I'm beginning to think
there are no longer any grownups anywhere anymore (except here, of course).
-----Original Message-----
From: John Mccullough <dmarc-noreply@xxxxxxxxxxxxx>
To: pa64@xxxxxxxxxxxxx
Sent: Thu, Feb 4, 2021 3:19 pm
Subject: [pa64] Re: There's a lot that can be said about this, nothing good
Should be some jail time for a few key people The company. The destruction
they have caused goes far beyond just money.
At least, unlike bank and Wall Street fines the amount exceeds their profit. In
finance they look big but are modest in comparison.
Sent from my iPhone
On Feb 3, 2021, at 9:46 PM, rhelkins (Redacted sender "rhelkins" for DMARC)
<dmarc-noreply@xxxxxxxxxxxxx> wrote:
https://www.wsj.com/articles/mckinsey-agrees-to-573-million-settlement-over-opioid-advice-11612405236?mod=djemalertNEWS
