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eric pebble

The Three Worst Words Of All: ‘off Balance Sheet’: Created A Fog

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Times: The three worst words of all: ‘off balance sheet’:

....Created a fog obscuring the two real financial issues that need to be addressed

As Peer Steinbrück, Germany’s Finance Minister, indicated in a letter to his G20 counterparts yesterday, if there were moral hazards that led bankers to think their business was a one-way bet before, those hazards have now been multiplied many times over.

Understandably, and surely rightly, central bankers and finance ministers decided that when you are putting out a blazing fire there is no point in worrying about the next conflagration. They have been deferring talk of tighter regulation or bigger capital requirements for fear of deterring banks from lending money just at the time economies need it. This must not, however, be deferred for much longer.

Read all here:

http://www.timesonline.co.uk/tol/comment/c...icle6816408.ece

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Should be investigated and banned. If a compnies activities are not disclosed in their accounts then I would say there is a good case for the directors to be charged with fraud in that off balance sheet activities would be (in a legal sense) 'ultra vires' (beyond the legal powers of).

The Three Worst Words Of All though are actually: "Prime Minister Brown"

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Should be investigated and banned. If a compnies activities are not disclosed in their accounts then I would say there is a good case for the directors to be charged with fraud in that off balance sheet activities would be (in a legal sense) 'ultra vires' (beyond the legal powers of).

The Three Worst Words Of All though are actually: "Prime Minister Brown"

4: Failed Prime Minister Brown.

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