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January 13, 2013

Comments

Andrew

I can't see that your proposal would make any difference. The most likely source for the bodies that will do any independent valuation is the accounting profession. Who will be first to setup the valuation services, complete with shiny websites, the big four and possibly Accenture and the like. Will that really make it better? You may argue that a suitable system of checks and balances will make it work. I say that that will soon get subverted and anyway a system must be capable of being seen to work by the general public and that such a system is likely to be too complex for anyone to really understand let alone have confidence in. That's to say it will be but a minor tweak to the status quo.

Any amount of contracts and rules can be written but while the underlying game of banking, property and tax remains as it is today nothing much is going to change.

Henry George - Progress and Poverty. Steve Keen- Debunking Economics. positivemoney.org (last is a UK site I think there's a US equivalent).

david

well, the sub prime mortgage crisis in 2008 has nothing to do with external auditors or banks, it's all because of the stupid laws from the government such as the notorious community enhancement act.

The response from the banks is just their optimal choice under these laws. Government is the one to be blamed.
Most people know about that.

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