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Originally Posted by Sliver
Are you joking around? This isn't true at all.
Ever heard of earnings guidance? If analyst forecasts become out of whack due to a change in conditions companies will issue an earnings guidance release and often follow it with an analysts' call.
Ever worked in Investor Relations and you have an earnings announcement coming out and you're not going to meet the street? Yeah, that sucks, too, but nobody gets #### canned over it.
I don't think you know what you're talking about lol.
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I disagree entirely, that's one of the biggest reasons that CEOs subsquently meet the street too.
There's always boiler plate attached to the investor statements essentially saying do not believe anything our CEO is saying here because it will change, and there are still extremely tight controls from auditors and corporate lawyers over what exactly you can and can't say on an earnings call. It's generally extremely controlled. A CEO wouldn't make a statement like Tiff did, essentially providing a guarantee that a specific indicator would remain unchanged for a period of years.
It's worse than all of that, because a CEO isn't a government employed regulatory authority. Tiff is, so the fact that he was able to make such boundless statements with seemingly no penalty is especially egregious. How does this not dramatically erode public trust in the BOC? Isn't one of Tiff's primary roles to ensure public trust in the central bank remains strong?