All for Greed
Segment # 205
Life should be simple whether you are talking about your neighbor, the justice system, federal or state regulations, or how we do business with other countries. The same rules apply to everybody. If a country imposes sanctions on our companies overseas, we impose sanctions on them. If US citizens can’t buy land overseas, then those countries can’t buy land here. If Republican leaders are prosecuted for BS charges and misdemeanors, then Democrats should be charged the same way. Is that so hard to understand and implement.? Any other system is foolish and naïve and driven by greed for power and money. Hope we wake up before we have no choices.
The Chinese continue to steal our intellectual property, make the chemicals to poison our children with fentanyl, openly plan to attack the United States, infiltrate the U.S. through our southern border with military age men, violate international standards of human rights with the persecution of Uyghurs, impose strict standards of conduct for US companies based in China, buying up our farmland, conducting propaganda campaigns in the US through funding of Tik Tok, BLM and Antifa. And there is much more. But the questions is Why? In short greed.. whether you are discussing politicians or private corporations. It is all about the money. Like the border we are funding our own demise,
Maria Bartiromo is a prominent financial journalist known for her work at CNBC and later at Fox, where her coverage became more politically conservative, especially regarding Trump. She has received major awards and honors in journalism.
https://nation.foxnews.com/watch/da130ec4bf240803f8a00fcfc9df0cfa/
Bartiromo tweeted about her new Fox Nation special "Underwriting the Enemy", expressing hope that it deals with the TikTok app and saying "One thing Biden gets right! Get TIK TOK out of the US!"
In an interview on Fox News, Bartiromo promoted her upcoming Fox Nation special "Underwriting The Enemy" which appears to be critical of U.S. financial ties and investments involving China and the Chinese Communist Party (CCP).
The special seems to align with Bartiromo's recent criticism of the Biden administration for not being tougher on China and cracking down on U.S. companies and Wall Street firms doing business with and investing in China.
Bartiromo questioned "Why Aren't Biden And The Democrats Pulling The Plug On Wall Street Money For The CCP?" in promoting the special.
The U.S. government has explicitly named China as the biggest threat to American national security and global leadership in recent years. This assessment has been consistently echoed by top intelligence and defense officials across multiple administrations. The key points regarding China being named the top threat are:
The 2022 U.S. National Defense Strategy singles out China as the "most consequential strategic competitor" and the primary threat to the international order. It states that China aims to revise global norms in favor of its "authoritarian preferences."
At the annual Senate Intelligence Committee hearing in March 2023, Director of National Intelligence Avril Haines stated that the Chinese Communist Party "represents both the leading and most consequential threat to U.S. national security and leadership globally."
The 2021 Annual Threat Assessment report by the U.S. intelligence community put China's push for "global power" first on the list of threats, warning of its attempts to undermine U.S. alliances and advance its interests at the expense of the U.S.
In 2019, the U.S. renamed its military command overseeing forces in Asia as the "Indo-Pacific Command," reflecting the region's importance and China's growing influence.
Opinion polls consistently show a majority of Americans view China as the greatest enemy or adversary of the United States, with 51% citing Beijing as the biggest threat in a 2023 survey.
So while tensions with Russia and concerns over terrorism remain, there is a clear consensus across the U.S. government and intelligence agencies that China's economic, military and technological ambitions pose the pre-eminent challenge to American power and interests in the coming decades.
The Public Company Accounting Oversight Board (PCAOB) is a non-profit organization established by the Sarbanes-Oxley Act of 2002 to oversee the audits of public companies and SEC-registered brokers and dealers.
Its primary responsibilities are:
Registering public accounting firms that audit public companies trading on U.S. securities markets, including non-U.S. firms auditing foreign companies listed in the U.S.
Inspecting registered public accounting firms to assess compliance with laws, regulations, and professional standards in their audits.
Establishing auditing, ethics, and independence standards for registered public accounting firms.
Investigating and disciplining registered firms and associated persons for violations of laws or professional standards.
The PCAOB was created in response to major accounting scandals to protect investors by promoting informative, fair, and independent audit reports. It is overseen by the Securities and Exchange Commission (SEC) and funded principally by fees from public companies.The PCAOB has advisory groups like the Standing Advisory Group and Investor Advisory Group that provide insights on emerging issues affecting audits. It also imposes sanctions on firms and individuals for audit deficiencies identified during its inspections. In summary, the PCAOB is a key regulatory body that oversees and sets standards for public company audits in the U.S. to enhance audit quality and protect investors.
On May 2013, the PCAOB signed an MOU with the China Securities Regulatory Commission (CSRC) and China's Ministry of Finance to allow the PCAOB to obtain audit documents for investigations in both countries.
However, the MOU allowed China to withhold documents on grounds of "public interest or essential national interest", and the PCAOB has stated that Chinese cooperation has been insufficient for it to carry out its oversight duties.
New Chinese laws in 2020 further prohibited sharing of sensitive information with foreign parties, making it difficult for Chinese companies to comply with U.S. disclosure requirements.
The lack of PCAOB access to audit Chinese companies listed in the U.S. led to the Holding Foreign Companies Accountable Act (HFCAA) in 2020, which threatens to delist companies if the PCAOB cannot inspect their audits for three consecutive years.
Chinese law prohibits companies from allowing overseas regulators to inspect their audit work, creating a regulatory blind spot for the SEC and the Public Company Accounting Oversight Board (PCAOB).
The SEC has raised concerns about the lack of reliable information and risks associated with investing in certain Chinese companies listed on U.S. exchanges.
In December 2020, the Holding Foreign Companies Accountable Act was passed, which could potentially delist Chinese companies from U.S. exchanges if they fail to comply with PCAOB auditing requirements for three consecutive years.
In August 2022, the PCAOB gained access to inspect and investigate auditors of some Chinese companies listed in the U.S. after negotiations, but the long-term implementation remains uncertain.
Companies sanctioned by the U.S. Government are still investible on the stock exchange
American mutual funds are investing in CCCP controlled companies that while providing a civilian front are Chinese military.
So in summary, while the 2013 MOU aimed to facilitate PCAOB oversight of Chinese company audits, it has proven ineffective due to Chinese laws restricting data sharing. This lack of transparency prompted the HFCAA legislation, which could lead to delistings if audit inspections remain obstructed, despite recent progress in negotiations.