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What I mean is, the necessity for a transparent auditing process is self-evident because it's a given that the banker and his auditor are pissing in each other's pockets.

Transparency is valuable not only for evaluating systemic risks, but to (smirk) keep them honest. And that, I suppose, is why the idea will never fly.

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II

by eurogreen on Mon Mar 4th, 2013 at 11:29:28 AM EST
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Well, if regulators see their role as preserving the nice I-scratch-your-back-you-scratch-mine arrangements, sure...

But maybe if there were enough political pressure things could change for the better (anyway the alternative is just complaining about how much worse things have become without any fightback).

Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi

by Cyrille (cyrillev domain yahoo.fr) on Mon Mar 4th, 2013 at 11:39:27 AM EST
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