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Mind the GAAP? No, scrap the GAAP

The Generally Accepted Accounting Principles (GAAP) used across the USA for financial reporting appear to be fatally flawed. As a result, America is scrapping GAAP to move towards the International Financial Reporting Standards (IFRS) used around the rest of the world. The question is how …

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First Data close down Airline

Fascinating item sent to me by a mate that says that First Data are responsible for Frontier Airlines going bankrupt in the States.  Apparently, Frontier blame First Data because they demanded a sudden jump in collateral, due to the credit crunch, and started taking a …

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America is not in recession

Matthew Bishop, the American business editor of the Economist, talked through his views on the credit crunch at a conference I am attending in Miami. He began by asking the audience if they thought the USA was in recession. This was using voting devices. Y’know …

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Are Stock Exchanges fungible?

Reading today’s news headlines, you might think that the markets had exploded or imploded, dependent upon where you sit. Apparently, hundreds of new exchanges and multilateral trading facilities have started up and are winning business away from traditional exchanges. But the question top of my …

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Are Stock Exchanges fungible?

Reading today’s news headlines, you might think that the markets had exploded or imploded, dependent upon where you sit. Apparently, hundreds of new exchanges and multilateral trading facilities have started up and are winning business away from traditional exchanges. But the question top of my …

Read More »