On Convergence, Speed Is In; Hubris Is Out

FASB and the IASB rework their approach as Paul Volcker calls for an end to America's love affair with U.S. GAAP.

Marie Leone, CFO.com | US
October 30, 2009

Volker, Certified Prostituting Authority

Ralph is right. Volker has no training in accounting, no experience in accounting, and has no credentials in accounting.Further, he's not really a economist, as a Phd is usually the credential. Long removed from any real authority, he's now reduced to prostituting himself to Obama and Soros. What a pathetic troll, so eager to get a few more minutes in the sun by undercutting US sovereignty.

Posted by Super Heater | November 02, 2009 10:10 pm

Paul Volcker as Accounting Authority?

Paul Volcker has no training in accounting, no experience in accounting, and has no credentials in accounting. You would think that having at least SOME background in accounting would be a prerequisite for proposing policy in accounting. But if you did, you would be wrong. So what credentials does Volcher have? Well, of course, he is an economist, but that training is virtually irrelevant in understanding and applying accounting. But the bottom line for his influence is really the following. Volcker is a member of the Trilateral Commission. He has had a long association with the Rockefeller family, not only with his positions at Chase Bank and the Trilateral Commission, but also through membership of the Trust Committee of Rockefeller Group, Inc. (RGI), which he joined in 1987. That entity managed, at one time, the Rockefeller Center on behalf of the numerous members of the Rockefeller clan. He currently serves as Chairman of the Board of Trustees of the International House in Manhattan, NY. He was a founding member of the Trilateral Commission and is a long time member of the Bilderberg Group. In short, Volcker serves Wall Street and its masters. This means that he is a figurehead for the interests that embrace the policy of corporate socialism for the ultra rich and capitalism for the middle class. And it should be abundantly clear to everyone by now that those interests run counter to those of the people of the United States.

Posted by Ralph Adamo | November 02, 2009 03:54 pm