Apr 17

World’s Biggest Aluminum Producer Faces Default, Warns Of “Dramatic Social Unrest” Without A Beijing Bailout

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H/t reader squodgy:

Ernst & Young, one of the big four were tainted at the same time Arthur Anderson ( now relabelled Accenture to protect the guilty).

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8933219/Dismissed-partner-accuses-Ernst-and-Young-of-corruption.html

Notice how Ernst & Young are right in the middle of the Chinese Aluminium fiddle.
Nothing changes! I recall when in business I had cause to appoint a subsidiary of one of the big four to audit our company, and was astounded at the speed and randomness of their work…being an experienced auditor I could drive a bus through their report.
So it’s no wonder we just cannot take the financial results seriously.

http://www.zerohedge.com/news/2017-04-16/worlds-biggest-aluminum-producer-faces-default-warns-dramatic-social-unrest-without-

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