Guilt by association?
| Author | Sengupta, Amitava |
| Position | Letters - Letter to the editor |
As a retired member, I often wonder how all the financial and accounting institutions failed to spot the dangerous practices of the financial services industry. It is unbelievable that within two years the bubble created by many of the financial institutions has burst. Obviously, some of our colleagues did not play the game according to the rules--they must have ignored ethics and perhaps even crossed legal boundaries.
Many banks have had to be bailed out with taxpayers' money. That many banks were over-trading beyond their total combined equity was never reported by external auditors, while...
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