accounting control fraud

The aphorism is by Jamie Dimon. I took it from his March 30, 2012 Letter to shareholders (p. 8). The immediately preceding sentence was: "Low-quality revenue is easy to produce, particularly in financial services." http://www.scribd.com/doc/88143909/Annual-Report-Letter Aphorisms are pithy....

I write to recommend reading David Roodman’s recent column in the Washington Post (“Microcredit doesn’t end poverty, despite all the hype”).  http://www.washingtonpost.com/opinions/microcredit-doesnt-end-poverty-despite-all-the-hype/2012/01/20/gIQAtrfqzR_story.html?hpid=z3 Microcredit has...

Criminologists know that accounting control fraud causes greater financial losses than all other forms of property crime – combined.  Some of the world’s best economists, George Akerlof and Paul Romer, praised the S&L regulators’ early recognition of these frauds and set out a formal...