Entries tagged "KPMG"
KPMG has raised $200 million for the failed bank's creditors by selling seven Chinese property-related loans and bond portfolios.
Now that a probe into New Century Financial Corp.'s mortgage practices has laid at least some of the blame on its independent auditor, KPMG LLP, the real question is, will more auditors be found out to have turned a blind eye to what subprime lenders were doing? In other words, are the auditors the ones to blame for the mortgage collapse? Is this case, as The New York Times suggested Thursday, akin to the Arthur Andersen "death penalty" in the Enron affair?...
