Friday, July 06, 2018

Bean Counters who broke capitalism


There are people who have money and people who are rich.
– Coco Chanel Via Gabbie tribbered by BC


A hallmark of a healthy creative culture is that its people feel free to share ideas, opinions, and criticisms. Lack of candour, if unchecked, ultimately leads to dysfunctional environments.”
~ Ed Catmull, President, Pixar


JOHN HAWKINS: The Only Thing Liberals Understand: ‘It Could Happen to Me, Too!’
The left is going to hate living under the new rules they created


As Rupert Murdoch sells much of his media empire, an era comes to an end
"It all started with a few glasses of wine and two media titans talking about how hard life is." (Washington Post)

  


New Zealand’s public financial management reforms — a case study
"The financial management reforms transformed the government’s fiscal performance at an unexpected speed and eased fiscal pressures through transparent accounting and by reducing public sector bills." (Centre for Public Impact)


The most productive meetings have fewer than 8 people
"With skilled facilitation and good meeting practices, it’s possible to have effective meetings of twenty people or more. But that should be the exception, not the rule." (HBR)

  



Wall Street Journal op-ed:  The IRS Can Save American Health Care, by Regina Herzlinger (Harvard Business School) & Joel Klein (Oscar Health):

Health care is fast becoming an unsustainable expense for American families. ... Health care in the U.S. suffers symptoms of what Justice Louis Brandeis once termed the problem of “Other People’s Money.” ... Employer-based coverage subtly drives up health-care costs by enhancing the bargaining power of medical providers. ...

The solution is simple: The Internal Revenue Service should give all workers the chance to purchase health insurance with pretax dollars—just as employers do—using Health Reimbursement Arrangements. Companies would give employees a fixed amount of money in these HRAs to go out and buy the best plans for their families on the ObamaCare exchanges. The plans there would be subject to the Affordable Care Act’s requirements on essential health benefits and cost-sharing limits. Employees could use this tax-free money only for the purchase of health insurance, but would pocket any leftover savings as taxable income.


We’ve had leak after leak, whistleblower after whistleblower. But no matter what the scandal is, when it comes to financial secrecy and tax dodging, the so-called big four accountancy firms are key players. We interview investigative journalist and former tax inspector Richard Brooks of the Private Eye on his new book: Bean Counters: the triumph of the accountants and how they broke capitalism

HIGHER EDUCATION BUBBLE UPDATE: Online program offers easy, cheap way to ‘earn college credit for what you already know.’
McKinnon_BR-5

Plus: will President Trump be prosecuted for foundation fraud? And can a leopard change its spots? How come the secrecy jurisdiction of Delaware came out in support of a financial transparency bill?
Featuring: U.S. economist, attorney, and investigative journalist James Henry, the Tax Justice Network’s John Christensen and investigative journalist Richard Brooks of the Private Eye on his new book: Bean Counters: the triumph of the accountants and how they broke capitalism. Produced and presented by Naomi Fowler.
"What they are about is maximising their income. They are not about providing objective audits which is really what society needs. Firstly you need much better auditing and then you need serious consequences for poor auditing and the problem at the moment you don’t really have either.”
~ Richard Brooks
"Residents and non-residents can still continue to use US shell companies to hide their identity and the US is set to remain in the ranks of the largest and least cooperative secrecy jurisdictions in the world.”
~ John Christensen
Original post with further reading:
https://www.taxjustice.net/2018/05/29/why-we-cant-afford-the-rich-our-may-2018-podcast/



Fact-checking has some ‘growing pains’

“A dark cloud hangs over us. The disaffection and distrust that have plagued mainstream media outlets for many years is now spilling over to fact-checkers.”
Those were among the remarks Alexios delivered at the fifth annual Global Fact-Checking Summit in Rome last week, where more than 200 fact-checkers from 56 gathered to share best practices. In a report for The Washington Post, Glenn Kessler wrote about the conference — and how it’s a notable milestone for a movement that has come under heightened scrutiny from partisans.
“Fact-checkers have increasingly come under attack, facing accusations of bias and partisanship that the neutral journalistic format was supposed to avoid,” Kessler wrote. Read his story here.
(AP Photo/Joe Danborn)

This is bad 

  • Fake social media posts from Russian trolls posing as activists made a notorious police shooting even worse.
  • The never-ending battle: NPR reports on a newspaper that was shut down after printing fabricated information — in the 17th century.
  • The writer of “Boys Don’t Cry” says it was the “most inaccurate piece of journalism I’ve ever written,” Village Voice writes.

This is how we do it


This is fun

A closer look

  • Characterized as a way to avoid the mistakes that Facebook made, here’s how Apple is planning to not screw up the 2018 U.S. elections.
  • It’s all about perspective, right? Either fake news is just a nuisance and not a threat, or it’s going to destroy the world.
  • The Washington Post takes a look at the limitations of Facebook’s fact-checkers in Mexico.
(Shutterstock)

If you read one more thing

Is the growth of misinformation actually the result of too much democracy? Politico Magazine makes the case.

8 quick fact-checking links

  1. Malaysia’s new government appears to be officially backing off its fake news law.
  2. When fake news turns deadly: An upcoming BBC report.
  3. Here’s a primer on misinformation on WeChat, the Chinese language app.
  4. That “crying girl” Time magazine cover needed some fact-checking.
  5. The Christian Science Monitor says journalists are losing the battle against President Trump’s truth problem.
  6. California dreamin’? State officials want to appoint an advisory group to help solve the fake news problem.
  7. The Verge reports on Adobe’s efforts to use artificial intelligence in its fight against faked images.
  8. Facebook says its expansion of fact-checking tools “will never be finished.”