Why Doesn't This Company Go Down the Drain?
The Market Ticker - Commentary on The Capital Markets
2017-09-07 07:05 by Karl Denninger
in Company Specific , 442 references Ignore this thread
Why Doesn't This Company Go Down the Drain?
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Facebook has once again been caught cooking the books.

Let me remind you that under Sarbanes-Oxley all material aspects of one's quarterly and annual reports must be attested to as true and correct by the corporate officers.  Lies are punishable with prison terms, not fines.

Well?

Facebook told advertisers that the platform can potentially “reach” 41 million young adults between 18 and 24 in the US. Brian Wieser of Pivotal Research Group countered by pointing out that 2016 census data shows there were only 31 million people in that age range in the US. Similarly, Facebook claims it can reach 60 million people in the US between 25 and 34 years old. The census reports 45 million in that age group.

Of course Facebook claims that "reach" doesn't mean what it says.

Then again Bill Clinton didn't have sex with "that woman" either.... depending on how you define "sex", of course.

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