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February 24, 2008


Charles H. Green


This is just an excellent piece of writing. Actually, I should say, an excellent piece of thinking, because that's what enables the writing.

The ability to draw on a bounded system of thinking--accounting--to elucidate one of the more complex phenomena of our times is a great thing. This really helped put things in perspective for me.


Robert F. Kelley

As you stated in your well written article..."So the accounting for mortgage-based assets and their off-spring should be seen as a proxy for the reckoning of financial reality in all aspects." The proxy [unauthorized and ineffective as it may be]is neutered [in the zoological sense]when passed to the accounting/auditing "profession". To paraphrase Charles Revson of cosmetology fame...auditors develop competence in their training schools and sell assurance in the marketplace. Actually, auditors, like Revson, sell "hope"..."hope that they will not be sued.So...who has the proxy for the reckoning of financial reality in all aspects.?

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