Charles Swindoll: Receipts Paid Full

Meaning of not just anyone would use a greek accounting term across their receipts, “Tetelestai” or Paid-in-full Money Quote: saying Charles R. Swindoll. said:

 

“It was an accounting term. Archaeologists have found papyrus tax receipts with “Tetelestai” written across them, meaning “paid in full” — Charles R. Swindoll

Charles R. Swindoll is referring to an archaeological discovery of ancient papyrus tax receipts from the time of Jesus. The Greek word “Tetelestai” was written on these receipts, which translates to “paid in full” or “it is finished”. Swindoll notes that this was an accounting term used on receipts to indicate that a tax debt had been settled completely.

His point seems to be that this is the earliest known usage of the word that Jesus spoke from the cross, highlighting the significance of its meaning even in non-religious contexts of that era. The quote provides historical context for the biblical reference to “paid in full” through these unearthed papyrus tax receipts.

Andy Green: Wells Fargo Fraud & KPMG

Andy Green Money Quote saying few have asked why outside auditors (KPMG) didn’t call attention to Wells Fargo fraudulent sales practices. Andy Green said:
 

 

“There’s been far too little attention since the [Wells Fargo] crisis on how the external auditors [KPMG] should be looking out for the public. They are not just bookkeepers, but the investors’, and the capital markets’ last defense against accounting manipulation and fraud” — Andy Green

In this quote, Andy Green is strongly criticizing the oversight role played by external auditing firms like KPMG in the wake of accounting scandals like those at Wells Fargo. By stating auditors should not be viewed as “just bookkeepers” but rather the “last defense” protecting investors and markets from deception, Green argues they have a higher public duty than simply verifying numbers.

He implies auditors are not fulfilling their responsibility to diligently search for impropriety if they act as passive financial statement reviewers rather than taking proactive measures to uncover intentional obfuscation or fraud. Green’s perspective conveys that auditors must serve as vigilant guardians of transparency, not just validators of ledgers.

The overall interpretation is that Green views lax auditing as enabling deception and believes stricter scrutiny is needed from these firms tasked with maintaining trust for stakeholders in financial markets.

William Black: Weapon of Choice in Finance

 
William Black Money Quotation saying in financial wars, numbers obscure complex accounting schemes, hiding wrongdoing by bankers. William Black said:
 

 

“The weapon of choice in finance is accounting” — William Black

In this quote, William Black is referring to the use of accounting as a tool that can be misused to deceive or commit wrongdoing in the financial sector. He describes accounting as the “weapon of choice” for those engaged in financial crimes and misconduct.

Black’s view is that manipulating, misrepresenting or falsifying accounting records is a primary method used by corrupt executives and companies to hide losses, inflate profits or assets, and generally disguise their true financial condition from regulators and investors.

By exploiting weaknesses and discretion in accounting rules, wrongdoers can use the facade of legitimate bookkeeping and reporting as cover for their fraudulent activities.

The quote reflects Black’s perspective that accounting is particularly susceptible to abuse since it forms the basis for assessing the health and performance of financial institutions.