Next On The Improper Accounting List: Qwest
from the can-we-join-the-club-too? dept
This is just getting silly. Are there any major companies that didn’t lie on their financial statements over the last three or four years? The latest on the list to admit to improper accounting is Qwest, who will restate their earnings after admitting to “improperly booking” $1.6 billion. Right, this is weasel speak for “making up money we didn’t have”. Anyway, these statements no longer are coming as a surprise any more, and I fully expect plenty more companies to start ‘fessing up soon as well. The worst part is that most of the crooks (and they are crooks) who stole all this money will get (if anything) a slap on the rest, and will soon be laughing it off with each other explaining that that was “just the way things were done”.
