Comments on Cate Long's articles RSS Syndication from SeekingAlpha.com http://seekingalpha.com/author/cate-long/articles http://seekingalpha.com/article/99501-we-re-in-an-opacity-crisis?source=feed#comment-679814 679814 Hi Cate, > All that you hope to see in the way of transparency and control will > return when business entities of every description return to a > proper double-entry bookkeeping framework of rules. ]]> Wed, 16 Sep 2009 18:07:05 -0400 All modern book keeping systems that I've seen use double entry book keeping. If they didn't, they wouldn't be able to generate balanced financial reports.

The average data entry clerk would not notice it (because they don't need to), but the folks who generate the financial reports know it. What software are you using? If it doesn't have it I'd like to know what to avoid.

With regards to the article,
More transparency would help. It would be even better if all that information would also have some context to go with it. Like what risk is, how to mitigate risk, how not to throw the world's economy into a death spiral by ignoring key risk factors like systemic risk, etc.

Michelle

On 2008 Oct 12 11:43 AM TheBookkeeper wrote:

> Hi Cate,
> All that you hope to see in the way of transparency and control will
> return when business entities of every description return to a
> proper double-entry bookkeeping framework of rules. ]]> http://seekingalpha.com/article/99501-we-re-in-an-opacity-crisis?source=feed#comment-679509 679509 Hi Cate, > All that you hope to see in the way of transparency and control will > return when business entities of every description return to a proper > double-entry bookkeeping framework of rules. Such rules were customarily > used by all business entities prior to computer software. The proper > framework was never programmed into software. It will soon have to > be because there is no other framework of rules that will get the > present cultural collapse back on track and subject to the return > to a constitutional government. The 650 year old double entry bookkeeping > framework of rules supervised commercial trade since the middle ages. > It is not only the de facto language of commercial trade. It is the > only language of commercial trade. > > If you wish to put my words to a test, find the best accountant you > know. Ask him or her to define a debit versus a credit. Send me their > answer and I will send you the proper definition. You will be quite > surprised to learn how little accountants know about the double-entry > framework of rules.]]> Wed, 16 Sep 2009 14:28:27 -0400
check out my post on the mutual ownership of data.
silona.org/mutual-owne.../

On 2008 Oct 12 11:43 AM TheBookkeeper wrote:

> Hi Cate,
> All that you hope to see in the way of transparency and control will
> return when business entities of every description return to a proper
> double-entry bookkeeping framework of rules. Such rules were customarily
> used by all business entities prior to computer software. The proper
> framework was never programmed into software. It will soon have to
> be because there is no other framework of rules that will get the
> present cultural collapse back on track and subject to the return
> to a constitutional government. The 650 year old double entry bookkeeping
> framework of rules supervised commercial trade since the middle ages.
> It is not only the de facto language of commercial trade. It is the
> only language of commercial trade.
>
> If you wish to put my words to a test, find the best accountant you
> know. Ask him or her to define a debit versus a credit. Send me their
> answer and I will send you the proper definition. You will be quite
> surprised to learn how little accountants know about the double-entry
> framework of rules.]]> http://seekingalpha.com/article/116672-twitterland-social-media-and-investing?source=feed#comment-367889 367889 Tue, 27 Jan 2009 14:23:17 -0500 http://seekingalpha.com/article/99501-we-re-in-an-opacity-crisis?source=feed#comment-280998 280998 Mon, 13 Oct 2008 00:39:56 -0400
Ny own suggestion is to let all the banks go bankrupt as new ones that don't have CDS contracts or other risky trash spring up. It may take 10 years but that seems faster than letting the existing banks suck every last asset out of the US to pay for their losses over 30 years.]]> http://seekingalpha.com/article/99501-we-re-in-an-opacity-crisis?source=feed#comment-280647 280647 Sun, 12 Oct 2008 14:05:16 -0400
no accountability=no long term success of policy.

2nd point is that governements role in breakig up provate monopoly shold be expanded to include 'too big to fail' organizations.

these two ideas if strongly enforced will go a long way to protect stability, economic policy, and taxpayers]]> http://seekingalpha.com/article/99501-we-re-in-an-opacity-crisis?source=feed#comment-280526 280526 Sun, 12 Oct 2008 11:43:32 -0400 All that you hope to see in the way of transparency and control will return when business entities of every description return to a proper double-entry bookkeeping framework of rules. Such rules were customarily used by all business entities prior to computer software. The proper framework was never programmed into software. It will soon have to be because there is no other framework of rules that will get the present cultural collapse back on track and subject to the return to a constitutional government. The 650 year old double entry bookkeeping framework of rules supervised commercial trade since the middle ages. It is not only the de facto language of commercial trade. It is the only language of commercial trade.

If you wish to put my words to a test, find the best accountant you know. Ask him or her to define a debit versus a credit. Send me their answer and I will send you the proper definition. You will be quite surprised to learn how little accountants know about the double-entry framework of rules.]]> http://seekingalpha.com/article/99501-we-re-in-an-opacity-crisis?source=feed#comment-280430 280430 Sun, 12 Oct 2008 10:03:37 -0400 http://seekingalpha.com/article/99501-we-re-in-an-opacity-crisis?source=feed#comment-280378 280378 Sun, 12 Oct 2008 08:43:55 -0400
Isn’t the Treasury Direct programming a way for retail investors to purchase Treasuries?

Require all derivative products to trade thru a central exchange after a product has reached a certain size. For instance say $100 billion in notional size would have bought the CDS under supervision in 1998-1999. (When this was first discussed but various federal agencies couldn’t decide who should do it.)
]]> http://seekingalpha.com/article/99501-we-re-in-an-opacity-crisis?source=feed#comment-280342 280342 Sun, 12 Oct 2008 07:38:02 -0400 What you find is that the smartest people out there are invariably engaged in finding ways to get around or exploit whatever regulatlions are put in place. And often the people who have been engaged in administering the regulations leave for the big money available on the other side of the fence to assist in this process.]]> http://seekingalpha.com/article/99321-what-does-jpmorgan-think?source=feed#comment-279638 279638 Sat, 11 Oct 2008 03:00:33 -0400 http://seekingalpha.com/article/99321-what-does-jpmorgan-think?source=feed#comment-279215 279215 Fri, 10 Oct 2008 14:38:41 -0400
Final Price: 8.625
On Friday 10th October 2008, 14 dealers submitted inside markets, physical settlement requests and limit orders to the Lehman Brothers auction administered by Creditex and Markit to settle trades across the market referencing Lehman Brothers.

The inputs and results are detailed below.

Dealer Inside Markets

www.creditfixings.com/...]]> http://seekingalpha.com/article/99321-what-does-jpmorgan-think?source=feed#comment-279121 279121 Fri, 10 Oct 2008 13:15:39 -0400 http://seekingalpha.com/article/99321-what-does-jpmorgan-think?source=feed#comment-278986 278986 Fri, 10 Oct 2008 11:30:28 -0400 http://seekingalpha.com/article/99321-what-does-jpmorgan-think?source=feed#comment-278845 278845 Fri, 10 Oct 2008 10:21:42 -0400 Does anyone know the rankings of the largest credit protection writers ? Would be helpful in the current environment, on the day LEH's CDS are being cash settled... and with WaMu's and those of the Icelandic banks waiting too...]]>