[Allan from Fallbrook]

TemekuT: When you consider that most of the folks making the “real” money (high end attorneys, CEOs, investment bankers) are compensated largely through performance based objectives, the ethics breaches become more common and widespread. This is not to condone the behavior, simply to explain it.

There was an excellent article in the WSJ following the Enron debacle and the reporter was looking at all the ways in which Enron really dominated parts of the Houston economy and in spite of the oil wealth that was also present. They really spread the money and the influence around. It becomes remarkably easy to forget your ethics in your other pants as you head to work in that environment.

I worked as a CFO for one of the biggest insurance brokers in the world and primarily on the surety side (large market construction) of the business. You want to talk about sleaze and doing “what it takes” to get the bond and get the business? Pardon the crassness, but you get your cherry popped fast and hard, believe me.

I’ve been out of the corporate side and on my own since 1998 and I don’t miss it one bit.

[Allan from Fallbrook]

John: If a CPA prepares your filing, then they accept professional responsibility for it’s correctness and content. In terms of IRS “harassment”, the IRS is going to be more likely to pass over a CPA prepared return than an individually prepared return, simply because a licensed professional prepared it.

TemekuT: As far as crooks go: Remember that Enron would have never been possible without Arthur Andersen’s Houston office enabling the fraud. And there is no way that anyone will ever convince me that they weren’t fully aware of what was transpiring. The average salary for a partner at Andersen Houston was in excess of $500,000 per year and much of that income was derived from their relationship and business with Enron. I worked with all of the Big Eight (yeah, I’m dating myself a little there) players when I was with Willis (an insurance broker) and they were all willing to “play ball” when it came to making their clients “happy”. That’s why CPA firms and lawyers exist: Hide the mess (CPAs), and if that doesn’t work, clean it up (lawyers).

[Allan from Fallbrook]

John: If a CPA prepares your filing, then they accept professional responsibility for it’s correctness and content. In terms of IRS “harassment”, the IRS is going to be more likely to pass over a CPA prepared return than an individually prepared return, simply because a licensed professional prepared it.

TemekuT: As far as crooks go: Remember that Enron would have never been possible without Arthur Andersen’s Houston office enabling the fraud. And there is no way that anyone will ever convince me that they weren’t fully aware of what was transpiring. The average salary for a partner at Andersen Houston was in excess of $500,000 per year and much of that income was derived from their relationship and business with Enron. I worked with all of the Big Eight (yeah, I’m dating myself a little there) players when I was with Willis (an insurance broker) and they were all willing to “play ball” when it came to making their clients “happy”. That’s why CPA firms and lawyers exist: Hide the mess (CPAs), and if that doesn’t work, clean it up (lawyers).

[Allan from Fallbrook]

John: If a CPA prepares your filing, then they accept professional responsibility for it’s correctness and content. In terms of IRS “harassment”, the IRS is going to be more likely to pass over a CPA prepared return than an individually prepared return, simply because a licensed professional prepared it.

TemekuT: As far as crooks go: Remember that Enron would have never been possible without Arthur Andersen’s Houston office enabling the fraud. And there is no way that anyone will ever convince me that they weren’t fully aware of what was transpiring. The average salary for a partner at Andersen Houston was in excess of $500,000 per year and much of that income was derived from their relationship and business with Enron. I worked with all of the Big Eight (yeah, I’m dating myself a little there) players when I was with Willis (an insurance broker) and they were all willing to “play ball” when it came to making their clients “happy”. That’s why CPA firms and lawyers exist: Hide the mess (CPAs), and if that doesn’t work, clean it up (lawyers).

[Allan from Fallbrook]

John: If a CPA prepares your filing, then they accept professional responsibility for it’s correctness and content. In terms of IRS “harassment”, the IRS is going to be more likely to pass over a CPA prepared return than an individually prepared return, simply because a licensed professional prepared it.

TemekuT: As far as crooks go: Remember that Enron would have never been possible without Arthur Andersen’s Houston office enabling the fraud. And there is no way that anyone will ever convince me that they weren’t fully aware of what was transpiring. The average salary for a partner at Andersen Houston was in excess of $500,000 per year and much of that income was derived from their relationship and business with Enron. I worked with all of the Big Eight (yeah, I’m dating myself a little there) players when I was with Willis (an insurance broker) and they were all willing to “play ball” when it came to making their clients “happy”. That’s why CPA firms and lawyers exist: Hide the mess (CPAs), and if that doesn’t work, clean it up (lawyers).

[Allan from Fallbrook]

John: If a CPA prepares your filing, then they accept professional responsibility for it’s correctness and content. In terms of IRS “harassment”, the IRS is going to be more likely to pass over a CPA prepared return than an individually prepared return, simply because a licensed professional prepared it.

TemekuT: As far as crooks go: Remember that Enron would have never been possible without Arthur Andersen’s Houston office enabling the fraud. And there is no way that anyone will ever convince me that they weren’t fully aware of what was transpiring. The average salary for a partner at Andersen Houston was in excess of $500,000 per year and much of that income was derived from their relationship and business with Enron. I worked with all of the Big Eight (yeah, I’m dating myself a little there) players when I was with Willis (an insurance broker) and they were all willing to “play ball” when it came to making their clients “happy”. That’s why CPA firms and lawyers exist: Hide the mess (CPAs), and if that doesn’t work, clean it up (lawyers).

[Allan from Fallbrook]

Rus: Yeah, there’s definitely some nippleage showing there.

Not like that’s a bad thing, though.

Just sayin’.

[Allan from Fallbrook]

Rus: Yeah, there’s definitely some nippleage showing there.

Not like that’s a bad thing, though.

Just sayin’.

[Allan from Fallbrook]

Rus: Yeah, there’s definitely some nippleage showing there.

Not like that’s a bad thing, though.

Just sayin’.

[Allan from Fallbrook]

Rus: Yeah, there’s definitely some nippleage showing there.

Not like that’s a bad thing, though.

Just sayin’.

[Allan from Fallbrook]

Rus: Yeah, there’s definitely some nippleage showing there.

Not like that’s a bad thing, though.

Just sayin’.

[Allan from Fallbrook]

EconProf: Excellent book on LTCM out there called “When Genius Failed” by Daniel Lowenstein. It not only chronicles the how and why of LTCM’s implosion, but the ensuing “rescue” attempt by the Fed and several investment banks. That rescue attempt is nearly as interesting as the failure itself.

[Allan from Fallbrook]

EconProf: Excellent book on LTCM out there called “When Genius Failed” by Daniel Lowenstein. It not only chronicles the how and why of LTCM’s implosion, but the ensuing “rescue” attempt by the Fed and several investment banks. That rescue attempt is nearly as interesting as the failure itself.

[Allan from Fallbrook]

EconProf: Excellent book on LTCM out there called “When Genius Failed” by Daniel Lowenstein. It not only chronicles the how and why of LTCM’s implosion, but the ensuing “rescue” attempt by the Fed and several investment banks. That rescue attempt is nearly as interesting as the failure itself.

[Allan from Fallbrook]

EconProf: Excellent book on LTCM out there called “When Genius Failed” by Daniel Lowenstein. It not only chronicles the how and why of LTCM’s implosion, but the ensuing “rescue” attempt by the Fed and several investment banks. That rescue attempt is nearly as interesting as the failure itself.

[Author]

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