http://bripblap.disqus.com/money, success and the future of workenTue, 23 Dec 2008 02:07:11 -0000http://www.bripblap.com/who-watches-the-watchme/#comment-4585343<p>Wall street bankers, accountants, lawyers, and the politicians who need their money form a circle of incestuous relationships. Consciously or subconsciously they strive to do what the others need to have done. I don't think it will ever change until the entire Wall Street culture is destroyed. Unfortunately, Paulson is trying hard to prevent that.</p>Mr. GoToTue, 23 Dec 2008 02:07:11 -0000http://www.bripblap.com/who-watches-the-watchme/#comment-4570936<p>I think auditors are one of many problems, but they are definitely one of the major ones. Other big ones are the accounting system itself that gives corporations especially banks a lot of leeway to evaluate certain securities which often represent a large portion of their assets. Then you got the rating agencies who played their part in setting up an unstable system. - How do we respond? Well, with more of the same. As you say, auditing firms get the juicy government contracts. The accounting system is made more opaque since evaluation rules have been relaxed. And we still rely on the rating agencies to tell us the creditworthiness of bonds. </p>vilkriMon, 22 Dec 2008 10:53:36 -0000