Published on Oct 12, 2013
In this episode of the Keiser Report, Max Keiser and Stacy Herbert, discuss David Cameron's claim that profit is not a dirty word; and, yet, profits are whatever an accounting trick (or fraud) says it is, especially when an executive's bonus is tied to this fabricated number. They look at profits as percentage of GDP being at an all time high, while investment is at an all time low; for, instead of investing, businesses are handing cash back to shareholders - a tactic once reserved for executives who had run out of ideas. In the second half, Max interviews Francine McKenna of RETheAuditors.com about the Big Four accounting firms morphing into the Big Four consulting firms and the conflicts of interest that have arisen as a result.
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