Sense on Cents

Not that we needed any more reason to castigate those who have driven our economy and our nation into a ditch but the story I bring you this morning provides us just that.

I am well past the point of surprise in finding shock value in stories exposing financial charades. That said, I hope I never lose the feeling of complete and total indignation in shedding light on those involved in the charades and others who would provide cover for it. To wit, count me as extremely pissed off this Wednesday morning. CFO Magazine highlights the hypocrisy embedded in our political and financial system with its report, West Wing Accounting:

On Monday, conference attendees in New York were spectators to a simulated White House war room exercise. The object of the exercise wasn’t Iraq or Afghanistan, however, but the economy: specifically, a scenario in which presidential advisers had to consider the bailout of a U.S. state that was just two days away from defaulting on a $1.5 billion bond. (more…)