Wall Street is to the point where it can be easily manipulated

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Camile.Bidan

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Napoleon said:
:francis: Libor: What is it and why does it matter? - BBC News
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I use the LIBOR rate often in my daily work. I always took it as a given. Didn't really know there was controversy around it. Interesting.

I mainly encounter its use in debt agreements and debt convanents.

When it comes to everything else in accounting, we use the risk free rate (treasury rates) for Black sholes, discounting and PV. I don't immediately see how the LIBOR rate impacts the treasury rate but I am sure it does somehow.


The PCAOB has issued some pretty restrictive standards in recent years. (Namely staff alert 11, 12 and AS 18). It's becoming increasingly difficult for firms to get away with fraud or gross negligence. In fact the rules are become too restrictive and costly to the point where they don't seem to be worth the benefit. I don't see how someone can really get away with short selling on insider information. I'm a nobody, and the SEC would have my CPA, CIA, CISA or CMA revoked and throw me jail if ever did that, and I wouldn't be able to get away with it.

Banking, accounting and finance are hands-down the most regulated industries in America. i have trouble understanding the public's perception of these industries as being wildcat or western frontier hands-off industries. It's very hard for all but the extremely smart to get away with crime.
 
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Camile.Bidan said:
I use the LIBOR rate often in my daily work. I always took it as a given. Didn't really know there was controversy around it. Interesting.

I mainly encounter its use in debt agreements and debt convanents.

When it comes to everything else in accounting, we use the risk free rate (treasury rates) for Black sholes, discounting and PV. I don't immediately see how the LIBOR rate impacts the treasury rate but I am sure it does somehow.


The PCAOB has issued some pretty restrictive standards in recent years. (Namely staff alert 11, 12 and AS 18). It's becoming increasingly difficult for firms to get away with fraud or gross negligence. In fact the rules are become too restrictive and costly to the point where they don't seem to be worth the benefit. I don't see how someone can really get away with short selling on insider information. I'm a nobody, and the SEC would have my CPA, CIA, CISA or CMA revoked and throw me jail if ever did that, and I wouldn't be able to get away with it.

Banking, accounting and finance are hands-down the most regulated industries in America. i have trouble understanding the public's perception of these industries as being wildcat or western frontier hands-off industries. It's very hard for all but the extremely smart to get away with crime.
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:what:

Fam, this is HUGE news. How did you not know this? :dahell:
 
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Camile.Bidan said:
I use the LIBOR rate often in my daily work. I always took it as a given. Didn't really know there was controversy around it. Interesting.

I mainly encounter its use in debt agreements and debt convanents.

When it comes to everything else in accounting, we use the risk free rate (treasury rates) for Black sholes, discounting and PV. I don't immediately see how the LIBOR rate impacts the treasury rate but I am sure it does somehow.


The PCAOB has issued some pretty restrictive standards in recent years. (Namely staff alert 11, 12 and AS 18). It's becoming increasingly difficult for firms to get away with fraud or gross negligence. In fact the rules are become too restrictive and costly to the point where they don't seem to be worth the benefit. I don't see how someone can really get away with short selling on insider information. I'm a nobody, and the SEC would have my CPA, CIA, CISA or CMA revoked and throw me jail if ever did that, and I wouldn't be able to get away with it.

Banking, accounting and finance are hands-down the most regulated industries in America. i have trouble understanding the public's perception of these industries as being wildcat or western frontier hands-off industries. It's very hard for all but the extremely smart to get away with crime.
Click to expand...

Its always a relief when I talk to a bank and they use LIBOR instead of the Prime rate. You can tell their level of sophistication right there.

And you may want to learn how to spell covenant.
 
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Camile.Bidan said:
Banking, accounting and finance are hands-down the most regulated industries in America. i have trouble understanding the public's perception of these industries as being wildcat or western frontier hands-off industries. It's very hard for all but the extremely smart to get away with crime.
Click to expand...

The super wealthy get away with crimes everyday b...
 
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