… you know more about the internal corruption of the place than I do.
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UD thanks dmf for the link.
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This blog’s Rutgers posts.
… you know more about the internal corruption of the place than I do.
*********
UD thanks dmf for the link.
*********
This blog’s Rutgers posts.
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March 13th, 2017 at 10:51AM
what’s amazing is that the article cites that rutgers claimed that a bank loan for several million dollars to keep their athletic department afloat was ‘other income.’ the school offers a bs in accounting, and it’s working on ph.d in creative accounting.
but on second thought, i should do this. imagine how much better my financial status would be if i could claim my mortgage as income. my profile on that dating site would drastically improve….
March 13th, 2017 at 12:17PM
Charlie –
According to theoretical physicists, the universe very well may be a cosmic free lunch:
“{Guth] believes that the entire cosmos was created by quantum fluctuations from nothingness (which he argues is perfectly consistent with the Law of Conservation of Energy because its total energy value remains zero), and is quoted as saying that “the universe is the ultimate free lunch”
http://www.physicsoftheuniverse.com/scientists_guth.html
And to serious economists, there can be an economic free lunch as long as there is room to move to more efficiency.
But, in accounting as it is designed, it is impossible. As you point out, he proceeds of a loan are not income. Like a man falling from a building, who claims to fly, eventually these folks will get smacked by rising concrete. But, in so many realms these days, it seems to take forever for reality to obliterate the fake. Sadly it may smack innocent bystanders just as hard or harder.
March 13th, 2017 at 6:34PM
greg;
they believed they could fly
they believed they could touch the sky
but what they didn’t know
was when they hit the floor
their torso would go that away
while their legs went the other way