Northern Rock

The Cassandra effect

September 9, 2009 Tax and Ethics

According to Wikipedia: In Greek mythology, Cassandra (Greek: ?????????, “she who entangles men”[1]; also known as Alexandra[2]) was the daughter of King Priam and Queen Hecuba of Troy. Her beauty caused Apollo to grant her the gift of prophecy. However, when she did not return his love, Apollo placed a curse on her so that [...]

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IFRS: you can say no

May 21, 2009 Tax and Ethics

Richard Murphy uses a Daily Telegraph report as the basis for suggesting that IASB has effectively thrown the principle of prudence out the window. I was surprised when I read the DT piece which asserts: Some believe the IFRS regime was the crucial factor that allowed banks to get out of control, overstating their profits, [...]

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