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Freddie/Fannie Bailed out by taxpayers
Message
From
08/09/2008 14:07:50
 
 
To
08/09/2008 14:01:27
Hilmar Zonneveld
Independent Consultant
Cochabamba, Bolivia
General information
Forum:
Politics
Category:
Other
Environment versions
Visual FoxPro:
VFP 9 SP2
OS:
Vista
Network:
Windows 2008 Server
Database:
MS SQL Server
Miscellaneous
Thread ID:
01345714
Message ID:
01345852
Views:
18
>>I prefer to look at these things in realistic way. It means, besides few other considerations, that 'common sense accounting rules' do not work with any government. Going a bit more specific, democratically-elected form of government will not comply with accounting rules primarily because it needs to be re-elected, i.e. pandering to common good issues will force it to bend the accounting. Other forms of government will bend accounting too just by different reasons.
>
>In other words, they commit fraud so they get elected.

If you look at the thread, you will see that my point in regard to fraud issue was exactly the opposite.
In democracy every mainstream political force, and even most fringes, promise good times to everybody, or to majority at least, and when elected they are supposed to make good on some promises at least. This process may come in contradiction with 'common sense accounting', as Robert formulated it, and in many cases electionary process, which goes uninterrupted, takes preference. That's just the fact of real life, so I would not use the word 'fraud' to identify it.
Edward Pikman
Independent Consultant
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