Professor Elam

Tuesday january 22 2013

Dodd Frank was supposed to cut down on the kind of excess specuation that led to the 2008 meltdown.

But A Tale of Two Insurers  tells the story of two insurance companeis that had to sell their banks. Otherwise they would be subject to two totally different sets of regulations. 

Accountants are in demand because they help CEOs cope with regulations. I have recommended that all of you subscribe to the WSj, Here is a perfectly good example of what you should be reading outside class. I frankly can't tell if this link will work for a non subscriber as I do subscribe and it works for me. 

ONe company is Shelter Insurance in Mo, the other is giant Met Life in NY. But both reached the same conclusions. it will not be enough for students to merely understand accounting. One must also grasp the context and reality in which regulations are playing out.