The Keiser Report 509
In this episode of the Keiser Report, Max Keiser and Stacy Herbert take issue with David Cameron's claim that profit is not a dirty word, arguing that profits are whatever an accounting trick (or fraud) says they are, particularly when an executive's bonus is tied to this fabricated number. While profits as a percentage of GDP are at an all -time high, investment is at an all-time low. And instead of investing, businesses are handing cash back to their shareholders -- a tactic once reserved for executives who had run out of ideas. In the second half, Max interviews Francine McKenna of RETheAuditors.com about the Big Four accounting firms morphing into the Big Four consulting firms, and the conflicts of interest that have arisen as a result.