It is great to see that many of the US banks that received bailout money are not only laying off the very taxpayers that provided the money, but now many are planning to send thousands of jobs offshore to places like India.

Should the democrats who are now running the country mandate that companies receiving bailout money from US taxpayers not be allowed to increase their offshore presence above 2008 levels?


In addition to a highly volatile region due to their ongoing issues with Pakistan, India is now showing they have the same issues we are dealing with in the US.

Five Dumbest Things on Wall Street: Jan. 9

Quote:Ramalinga Raju, the founder and chairman of Indian outsourcing firm Satyam Computer Services(SAY Quote - Cramer on SAY - Stock Picks), stepped down Wednesday after disclosing that he had been falsely inflating profits for years at India's fourth-largest software services company. Raju said in a statement that about $1 billion, or 94%, of the cash on the company's books was fictitious.

How could such a thing happen, they must have had poor oversight a no name auditor, right?

Wrong Satyam's auditor is none other than US based Big 3 Price Waterhouse Coopers. My question HOW could anyone not notice that a company was lying about $1 billion of cash on hand?

(01-10-2009 02:35 PM)THE NC Herd Fan Wrote:  It is great to see that many of the US banks that received bailout money are not only laying off the very taxpayers that provided the money, but now many are planning to send thousands of jobs offshore to places like India.

Should the democrats who are now running the country mandate that companies receiving bailout money from US taxpayers not be allowed to increase their offshore presence above 2008 levels?


In addition to a highly volatile region due to their ongoing issues with Pakistan, India is now showing they have the same issues we are dealing with in the US.

Five Dumbest Things on Wall Street: Jan. 9

Quote:Ramalinga Raju, the founder and chairman of Indian outsourcing firm Satyam Computer Services(SAY Quote - Cramer on SAY - Stock Picks), stepped down Wednesday after disclosing that he had been falsely inflating profits for years at India's fourth-largest software services company. Raju said in a statement that about $1 billion, or 94%, of the cash on the company's books was fictitious.

How could such a thing happen, they must have had poor oversight a no name auditor, right?

Wrong Satyam's auditor is none other than US based Big 3 Price Waterhouse Coopers. My question HOW could anyone not notice that a company was lying about $1 billion of cash on hand?

Obviously some Ex-Enron Accounting Department Employees.

(01-10-2009 02:35 PM)THE NC Herd Fan Wrote:  It is great to see that many of the US banks that received bailout money are not only laying off the very taxpayers that provided the money, but now many are planning to send thousands of jobs offshore to places like India.

Should the democrats who are now running the country mandate that companies receiving bailout money from US taxpayers not be allowed to increase their offshore presence above 2008 levels?


In addition to a highly volatile region due to their ongoing issues with Pakistan, India is now showing they have the same issues we are dealing with in the US.

Five Dumbest Things on Wall Street: Jan. 9

Quote:Ramalinga Raju, the founder and chairman of Indian outsourcing firm Satyam Computer Services(SAY Quote - Cramer on SAY - Stock Picks), stepped down Wednesday after disclosing that he had been falsely inflating profits for years at India's fourth-largest software services company. Raju said in a statement that about $1 billion, or 94%, of the cash on the company's books was fictitious.

How could such a thing happen, they must have had poor oversight a no name auditor, right?

Wrong Satyam's auditor is none other than US based Big 3 Price Waterhouse Coopers. My question HOW could anyone not notice that a company was lying about $1 billion of cash on hand?

Oddly enough, so is Halliburton. Interesting timing don't you think? With vicePresident Dick leaving office, they will not have as many(any?) handouts.

I'm not aware of Halliburton getting any handouts.

(01-10-2009 07:26 PM)Paul M Wrote:  I'm not aware of Halliburton getting any handouts.

Oh you silly republicans make me laugh.

You could have offered some evidence for your claim. Is there a reason you didn't?

I have several friends who work for PWC. I talked to one Friday and he sounded very concerned. I hope they aren't the next Arthur Andersen.

(01-12-2009 11:45 AM)BlazerFan11 Wrote:  I have several friends who work for PWC. I talked to one Friday and he sounded very concerned. I hope they aren't the next Arthur Andersen.

THey don't have to worry, they will get bailed out. Of course, they don't have unions so the end result is it isn't going to be a loan but a grant.

You think an accounting firm is going to get bailed out? Good point about not having unions, though. That explains why they are so profitable.

(01-12-2009 11:45 AM)BlazerFan11 Wrote:  I have several friends who work for PWC. I talked to one Friday and he sounded very concerned. I hope they aren't the next Arthur Andersen.

Just as AA got deep six-ed in the Enron Debacle,
PWC will have to pay for it's complicity. Accounting practices have to be suspended for these types of thing to occur. Really makes you feel secure in making your investments in stocks, doesn't it? Wall Street's reputation is now the same as a fixed horse race.