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Causality seems backward, but the sentiment holds. Grifters and fraudsters have an eye for recognizing settings and circumstances where their exploits may go un
by uoaei 4y ago
Causality seems backward, but the sentiment holds. Grifters and fraudsters have an eye for recognizing settings and circumstances where their exploits may go unnoticed until they're off with the goods. It's what makes them good at their trades. Novel accounting methods -- and more broadly the financialization of financialization that defines modern speculative finance -- especially obscure and technical ones, are great venues for fraud.
- jandrese 4y agoI find it plausible that Tether was forced to create their own accounting system because GAAP would have exposed their lies. They can't find an accounting firm that "understands" that they need to ignore the lies and only report what Tether wants them to report.
- oldgradstudent 4y agoThey should consider Friehling & Horowitz. A reliable firm with a lot of auditing experience.
- IX-103 4y agoEspecially if they have unfortunate names, like iFAP. I about had a stroke or two when I saw that. Either someone dropped the balls on marketing or there's some serious trolling going on for them to be swinging this around in our faces like that.