Aurora Acquisition Corp (AURC)

[cynic2005]

"Show me anyone else who has verifiable financials or is asked to have their financials verified."

It's called an audit and it is one of the cornerstones of American capitalism, the stock amrket and publicly traded companies. If you are referring to pinkie scams, your point of which one of them is having their financial statements verified is well taken. The stock market at large is a different story.

As to your point of an investment bank, that was less of an issue of lack of audits but rather due to the complexity and the opaque nature of the securities the banks had on their balance sheet. The auditors failed to understand the riskiness of the assets, but that does not mean that there was no audit requirement or a lack of an audit.

If Aurus is on the up and up, hire a credible public American accounting firm. These guys may not fully understand the intrinsic value of a synthetic CDO that's made up of the riskiest tranche of a bunch of crappy liar loans, but they will be able to tell us whether Aurus is for real.

And that alone will ensure that this will never happen. If anyone recalls, back in the day Aurus faked an audit opinion allegedly rendered by RSI Top Audit which later turned out to be forged. Sounds familiar?