Diamond Foods crashes after running before walking

February 9, 2012

The nuts and snacks firm came clean about $80 mln worth of bad accounting and replaced its CEO and CFO. Shares tanked and its deal to buy Pringles looks all but dead. It’s a warning about going aggressively from private and small to public and big. There are more lessons, too.

Deloitte caught in Diamond Foods’ glare

February 21, 2012

Just a few months ago, the snack food firm’s auditor was publicly shamed by its U.S. regulator for past failings. Diamond’s misstated payments to nut growers call into question other facets of the company’s books. Deloitte could be headed back into the accounting hot seat.

Fed audit throws a monkey wrench

November 20, 2009

The Fed audit bill makes it a bit harder to pass financial regulatory reform next year. There are jagged policy disagreements between Frank and Dodd, as well as between Dodd and Richard Shelby, the ranking GOP member on his committee. The Fed audit amendment doesn't make agreement any easier.

Yes, end the Fed – as a financial regulator

September 28, 2009

If not for unprecedented actions by the Ben Bernanke-led Federal Reserve, the United States economy might be mired in a depression. Yet the Fed finds itself on the defensive on Capitol Hill.