Price Waterhouse Coopers (PWC) is looking pretty sketchy – they were Evergrande’

Price Waterhouse Coopers (PWC) is looking pretty sketchy – they were Evergrande’s auditor, and it turns out Evergrande ($330B) was a greater Ponzi scheme than Bernie Madoff ($65B) and Enron ($84.2B) by a wide margin. The CCP is not happy.

But…
—“It’s important to note that China does not comply with GAAP. They have their own ‘China GAAP” method with stark differences in how they account for assets. So, PW may be off the hook if they were complying to “China GAAP”. GAAP is where it is through many decades of closing loopholes and ensuring investors have the best info available. China doesn’t want those loopholes closed at this time so these issues are being taken advantage of.”—

So…
If the behavior is widespread, it’s trillions and as big as the Global Financial Crisis of ’08.

Cheers