“Investors Are Being Swindled”: Canadian Accountants Slammed, by Peter Diekmeyer

STRAIGHT LINE LOGIC

Don’t delude yourself that American standards are all that much higher than Canadian standards. From Peter Diekmeyer at wolfstreet.com:

People “mistakenly believe their pension plans, mutual funds, and other investments are safeguarded.”

Canada’s Finance Minister Bill Morneau was one of the country’s top pension fund management professionals before he went into government. But when he recently addressed Concordia University business students, not one asked about the country’s $4 trillion national debt, much of which is pension-related.

That’s not surprising – because, as the Fraser Institute notes, nearly three quarters of those debts are not included in the federal and provincial governments’ financial statements. So, Canadians have no clue how bad the country’s true financial situation is.

This lax reporting is spread throughout the system, including public companies, says one expert.

“Investors are being systematically swindled out of large amounts of retirement savings,” says Al Rosen, a forensic accountant and…

View original post 162 more words

Advertisements

Author: Lisa the Infidel

I am an #Infidel - born and bred North Carolina.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s