One of the weirdest aspect of #EndStageCapitalism is the collapse of #auditing, the lynchpin of investing. Auditors - independent professionals who sign off on a company's finances - are the only way that investors can be sure they're not handing their money over to failing businesses run by crooks.
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The PCAOB is a watchdog for watchdogs, charged with auditing the auditors and punishing the incompetent and corrupt among them. Writing for The American Prospect and #TheRevolvingDoorProject, #TimiIwayemi describes the long-running failure of the PCAOB to do its job:
@pluralistic worked for a Medicaid insurer. One requirement was to hire a firm to survey our members and rate the health plan. Our competition was always getting better ratings. Noticed they were using a different company for their surveys. So we switched and suddenly our ratings went way up.
@Brad_Rosenheim Maybe a good time for us to remember #WGAStrike#SAGAFTRAStrike are still going on and that loads of Code for America workers were laid off for unionizing and could use donations.