Kenney's next alleged accounting maneuver: Instead of restating 2002 results (which, of course, would have blown his cover immediately), he allowed WRC Media to record a bad debt reserve for the first quarter of 2003.

FORBES: Magazine Article

The next year the bond market roared back to life with a boost from the Federal Reserve, which allowed firms marred by bad capital structures to refinance billions in debt maturing by 2014 that was otherwise facing restructuring.

FORBES: Debt-Free Firms Have The Edge With Rates Going Up

This year, regulators required Chinese banks to maintain a reserve of 2.5% against the value of their total loan portfolios as provision for bad debt.

FORBES: Chinese Banks' Illusory Earnings