In direct contravention of my wife's explicit instructions, herewith I inaugurate my first blog. Long may it prosper.

For some reason, I think I have something to say to you. You think you have something to say to me? Email me at: gideonsblogger -at- yahoo -dot- com

 
Apropos of accounting, by the way, we're still seeing massive fallout from undisclosed liabilities and rumors of same. AT&T today is rumored to have to redeem $10 billion in debt immediately if the company gets downgraded below investment grade, and Tyco continues to be massacred by investors because of rumors that there is accounting fraud at the company. Their bonds are trading like low-grade junk. Accounting transparency really, really matters. And we have to remember it does not only now but after the market recovers, so the next time there's a boom investors can see clearly how much leverage is being added to the system, and how bad the downside will be if the boom unravels, as eventually it will.
posted by Noah at 3:51 PM