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Article: Aldinger Defends Household's Accounting.(Brief Article)
- Article from:
- American Banker
- Article date:
- December 5, 2001
- Author:
CopyrightCOPYRIGHT 2001 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The chairman and chief executive of Household International stepped forward Tuesday with a rebuttal of accusations that his consumer finance company is playing accounting tricks to mask bad loans.
Saying repeatedly that his company has a "good balance sheet and conservative approach," William F. Aldinger used his time at a conference in New York to respond to criticisms of Household published in the past week in two national magazines.
"Our returns are almost double between 1995 and today, in both the ROA and ROE," Mr. Aldinger said at the 12th Annual Bank CEO Conference in New York, sponsored by Goldman, Sachs & Co. "Our equity levels are substantially ...