Gates criticizes states' accounting frauds and tricks.
Very fair comment. He is playing off of Wall Street, and
federal government, bail out shenanigans.
'Gates argued that government accounting practices
should be more like private accounting.'
However,
I don't know if anyone else can see the humor,
or the fallacies, in such a position.
His fallacy, one of them, is that he holds up private
sector ethics in accounting as an ideal for these public
sector rascals. But no one but a fool believes much
anymore in private
sector ethics in accounting or auditing. That system is
thoroughly broken.
Cannot be fixed by our flawed political regulatory
system.
A related point:
Many conservative Americans honestly believe that a
solution for their woes is elimination of only the federal
government, leaving them to the tender mercies of rule
under their particular state, and to the rest of the states
and the world.
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