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10.19 Self-harm among girls aged 13 to 16 rose by 68% in three years, UK study finds [drug use and crime are also caused by the same factors, but the $millionaires demand another tax cut so...]

10.19 World's deepest lake crippled by putrid algae, poaching and pollution

10.19 Warning of 'ecological Armageddon' after dramatic plunge in insect numbers [Good job, Monsanto!]

10.18 'This is a really big deal': Canada natural gas emissions far worse than feared [roughly equivalent to all the cars and trucks in Canada]

10.17 Scott Pruitt, Who Loved to Sue EPA, Just Made It Harder for Green Groups to Sue EPA

10.16 The war on coal is over. Coal lost.

10.15 Rooftop Solar Provides a Record-Breaking 48% of South Australia’s Power

10.14 Geoengineering is not a quick fix for climate change, experts warn Trump

10.13 The Grain That Tastes Like Wheat, but Grows Like a Prairie Grass

10.13 Climate Change Is Making It Harder to Grow Rice [might there be a “perennial rice” with much deeper roots to survive droughts?]

10.13 'If the land isn't worked, it decays': Tunisia's battle to keep the desert at bay [beautiful business plan for LIFE]

10.13 Trump scraps Obamacare subsidies in surprise late-night announcement [videos; his Infantilism should cause his impeachment]

10.12 Oxford aims for world’s first zero emissions zone with petrol car ban

10.12 Draughty homes targeted in UK climate change masterplan

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10.17 Malta car bomb kills Panama Papers journalist

10.15 The Establishment Still Doesn't Recognize The Political Revolution That's Happening [the question is, CAN MAINSTREAM NEWS MEDIA – desperate for corporate advertising as revenue falls – ALLOW CHANGE TO HAPPEN?]

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10.19 War veterans deploy themselves to help Puerto Rico relief [video]

10.19 Is racial bias driving Trump’s neglect of Puerto Rico? [the evidence is obvious]

10.19 An Independent Thinker’s Guide to the Tax Debate

10.19 Even After Equifax and Wells Fargo, GOP Sides With Big Financial Institutions [as do neoliberal Democrats like Hillary Clinton]

10.18 TA-NEHISI COATES UNPLUGGED [audio & transcript]

10.17 How Anti-Trump Psychiatrists Are Mobilizing Behind the Twenty-Fifth Amendment

10.17 McCain blasts 'half-baked, spurious nationalism' in emotional speech [video]

10.16 The Danger of President Pence

10.16 The Texas town where all the energy is green [Alert! Ignoring party leadership, exceptional Republicans use reason to do good!]

10.16 Nevada to Big Pharma: ‘Show Us Your Books!’

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10.17 Trump could remake judiciary for ‘40 years’ — with controversial picks [America will become more like Malta; facilitating corporate/mafia criminality to the maximum]

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10.19 SOCIALISM, LAND AND BANKING: 2017 COMPARED TO 1917

10.17 The Decline of the Midwest's Public Universities Threatens to Wreck Its Most Vibrant Economies

10.17 Trump Revives Notorious GOP Dog Whistle in Call for 'Welfare Reform' [less money "wasted on welfare" would allow larger tax cuts for "the more deserving rich"]

10.17 For Abandoning Climate Accord, Pope Swipes Trump on World Food Day [Trump is attuned to serve billionaire friends and himself]

10.14 KOCH BROTHERS’ INTERNAL STRATEGY MEMO ON SELLING TAX CUTS: IGNORE THE DEFICIT

10.14 How to Wipe Out Puerto Rico’s Debt Without Hurting Bondholders

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10.18 The lie that poverty is a moral failing was buried a century ago. Now it’s back

10.18 Who Has the World's No. 1 Economy? Not the U.S.

10.18 Robots Are Coming for These Wall Street Jobs [interactive graphics]

10.18 George Soros gives $18bn to his charitable foundation

10.18 The Guardian view on murdering the messenger: a desperate situation

10.17 For Abandoning Climate Accord, Pope Swipes Trump on World Food Day [Trump is attuned to serve billionaire cronies and himself]

10.17 The Movement of #MeToo

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  THINKING DOMINOES
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DYSFUNCTIONAL GOVERNMENT:

THINKING DOMINOES

by FRED CEDERHOLM
Costs for the problems, misdeeds, and inactions I’ve been chronicling will run in the mega-billions - even trillions of dollars. There is now potential to destroy this nation as we know it for generations to come.
I’ve been thinking about dominoes. Actually I’ve been thinking about 2007, forensic accounting, the Dollar, interest rates, debts, the real estate market, energy, equities, and ... In my last column of the year, I usually try to lay the groundwork for what I (more than likely) will be discussing in the coming year. I claim no links to Nostradamus, and if I had a crystal ball, it – like everything else in my house right now - would be covered with a layer of plaster dust. However... if there were one word I would choose to sum up what can see as the buzzword/catchword for 2007, it would be “dominoes.”

You see, as a child I had fun playing with dominoes – not the game itself per se, but rather standing them upright in lines, then nudging one and watching them all the rest topple over – one after another. Anyone familiar with my columns in print (or on-line) is aware that I have a number of concerns about this nation and the messes Uncle $ugar faces on almost every front. Last Thursday, I was the guest speaker at the Rochelle Kiwanis Golden K Chapter’s breakfast meeting. Please read on. I gave them a choice of topics for my presentation, but they chose to hear about my educational experiences regarding my two summers attending Exeter College, Oxford, England. Most were already familiar with my weekly columns in the Rochelle News-Leader. Afterwards... a couple of the men said they knew what an accountant and an auditor does, but they weren’t certain what I meant by being a forensic accountant? “Why does that have some impact on what you write - and why you write it?”

I told them that to the best of my knowledge nobody really gets a degree in forensic accounting – not yet anyway. That designation comes pretty much from the experience of “specializing” in failures – bankruptcies, divorces, troubled debt restructurings, debtors in possession, and investigations into criminal (and civil) malfeasance on the part of officials, directors, and officers in their various fiduciary capacities. Forensic accountants are “business morticians” – auditors who perform “autopsies” on the records to determine the cause of “death,” who was responsible, and what parts might be salvageable. Damage computations are often required, and/or a determination of when a reasonably prudent person should have seen/foreseen the impending problems, or demise. The forensic accountant works primarily with official documents, minutes, correspondence, financial statements, and other printed matter because the relevant parties - make that “the suspects” - (under advice of counsel) aren’t talking!

Much of what I did (or do) as a forensic accountant, I apply in the researching and the writing of my weekly columns. There aren’t a whole lot of us “forensics” out there to begin with, and even fewer who pen weekly commentaries in an attempt to alert/inform the general public about newsworthy/ developing events, stories, and topics that are impacting and destroying our world. Hardly any of the subjects (or topics) of my prior columns have been fixed by those who should be in the position to fix them. If anything “the powers that be” have totally ignored addressing the issues, or even worse - continued the policies which only compound the problems. When the blow-up (or demise) finally occurs, public understanding of the background of events - and awareness of the players, their roles, and their actions/inactions strengthens the case for culpability in finding the guilty parties guilty.

In 2007, we find ourselves at a precipice regarding so many problems facing this nation. The status of the Dollar, interest rate volatility, our debts/deficits, the real estate bubble, energy dependence, overpriced stocks, negative savings, dependence on foreign capital/investors, disaster ill-preparedness, and an overspread military are all inter-related much like a portfolio of troubled loans that are cross-collateralized and cross-defaulted. The blow-up of one would/ should/ could trigger the toppling of all the rest - much like my childhood string of upright dominoes. Will 2007 be the year of the “dominoes?”

So many times in my years spent working on litigation and investigations for the FDIC and the RTC on failed banks and savings and loans, I saw “alleged” guilty parties walk from all their misdeeds, responsibilities, and liabilities. When confronted with evidence against them and given a choice between being crooked or stupid, we so frequently heard: “Boy, was I dumb!” Costs for the problems, misdeeds, and inactions I’ve been chronicling will run in the mega-billions - even trillions of dollars. There is now potential to destroy this nation as we know it for generations to come. Thru my columns, I’m trying to inform my readership to preclude any defense of incompetence, of stupidity, of ignorance, of innocence, and of moronic stubbornness in allowing the guilty to walk free. If the “dominoes” fall in 2007, who will really end up paying the price - the guilty parties, or the people? I’m Fred Cederholm and I’ve been thinking. You should be thinking, too.


Copyright 2006 Questions, Inc. All rights reserved. Fred Cederholm is a CPA/CFE, a forensic accountant, and writer. He is a graduate of the University of Illinois (B.A., M.A. and M.A.S.). He can be reached at asklet@rochelle.net.


Copyright © 2006 The Baltimore Chronicle. All rights reserved.

Republication or redistribution of Baltimore Chronicle content is expressly prohibited without their prior written consent.

This story was published on December 26, 2006.
 

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