Window dressing
<p><span word="Reader">Reader</span> <span word="question">question</span>:</p><p><span word="Please">Please</span> <span word="explain">explain</span> “<span word="window">window</span> <span word="dressing">dressing</span>” <span word="in">in</span> <span word="this">this</span> <span word="headline">headline</span>: “<span word="Wall">Wall</span> <span word="Street">Street</span> <span word="banks">banks</span> <span word="accused">accused</span> <span word="of">of</span> <span word="window">window</span> <span word="dressing">dressing</span> <span word="debt">debt</span>.”</p><p><span word="My">My</span> <span word="comments">comments</span>:</p><p><span word="When">When</span> <span word="banks">banks</span> <span word="go">go</span> <span word="window">window</span> <span word="dressing">dressing</span>, <span word="they">they</span>, <span word="like">like</span> <span word="women">women</span> <span word="applying">applying</span> <span word="makeup">makeup</span>, <span word="try">try</span> <span word="to">to</span> <span word="look">look</span> <span word="better">better</span> - <span word="by">by</span> <span word="fudging">fudging</span> <span word="figures">figures</span> <span word="so">so</span> <span word="that">that</span> <span word="numbers">numbers</span> <span word="in">in</span> <span word="the">the</span> <span word="account">account</span> <span word="book">book</span> <span word="look">look</span> <span word="better">better</span> <span word="to">to</span> <span word="the">the</span> <span word="public">public</span> <span word="eye">eye</span>.</p><p><span word="In">In</span> <span word="other">other</span> <span word="words">words</span>, <span word="they">they</span> <span word="are">are</span> <span word="cooking">cooking</span> <span word="the">the</span> <span word="books">books</span>.</p><p><span word="By">By</span> <span word="window">window</span> <span word="dressing">dressing</span> <span word="debt">debt</span>, <span word="they">they</span> <span word="are">are</span> <span word="essentially">essentially</span> <span word="hiding">hiding</span> <span word="the">the</span> <span word="debt">debt</span>, <span word="temporarily">temporarily</span> <span word="hiding">hiding</span> <span word="it">it</span> <span word="that">that</span> <span word="is">is</span>. <span word="For">For</span> <span word="example">example</span>, <span word="at">at</span> <span word="the">the</span> <span word="end">end</span> <span word="of">of</span> <span word="each">each</span> <span word="financial">financial</span> <span word="quarter">quarter</span>, <span word="when">when</span> <span word="publicly">publicly</span> <span word="listed">listed</span> <span word="banks">banks</span> <span word="have">have</span> <span word="to">to</span> <span word="report">report</span> <span word="their">their</span> <span word="balances">balances</span> (<span word="earnings">earnings</span> <span word="and">and</span> <span word="losses">losses</span>) <span word="to">to</span> <span word="the">the</span> <span word="public">public</span>, <span word="they">they</span> <span word="deliberately">deliberately</span> <span word="refrain">refrain</span> <span word="from">from</span> <span word="mentioning">mentioning</span> <span word="some">some</span> <span word="debts">debts</span>, <span word="saving">saving</span> <span word="them">them</span> <span word="for">for</span> <span word="mentioning">mentioning</span> <span word="later">later</span>, <span word="say">say</span>, <span word="during">during</span> <span word="the">the</span> <span word="middle">middle</span> <span word="of">of</span> <span word="the">the</span> <span word="next">next</span> <span word="quarter">quarter</span> <span word="when">when</span> <span word="a">a</span> <span word="full">full</span> <span word="set">set</span> <span word="of">of</span> <span word="figures">figures</span> <span word="are">are</span> <span word="prepared">prepared</span> - <span word="this">this</span> <span word="time">time</span>, <span word="though">though</span>, <span word="the">the</span> <span word="figures">figures</span> <span word="will">will</span> <span word="not">not</span> <span word="be">be</span> <span word="revealed">revealed</span> <span word="to">to</span> <span word="the">the</span> <span word="public">public</span>. <span word="At">At</span> <span word="the">the</span> <span word="end">end</span> <span word="of">of</span> <span word="the">the</span> <span word="next">next</span> <span word="quarter">quarter</span>, <span word="when">when</span> <span word="banks">banks</span> <span word="are">are</span> <span word="again">again</span> <span word="required">required</span> <span word="to">to</span> <span word="reveal">reveal</span> <span word="performance">performance</span> <span word="numbers">numbers</span>, <span word="they">they</span> <span word="again">again</span> <span word="conceal">conceal</span> <span word="some">some</span> <span word="debt">debt</span> <span word="figures">figures</span> <span word="from">from</span> <span word="the">the</span> <span word="public">public</span> <span word="view">view</span>.</p><p><span word="ANZ">ANZ</span>.<span word="com">com</span>’<span word="s">s</span> <span word="financial">financial</span> <span word="dictionary">dictionary</span> <span word="defines">defines</span> “<span word="window">window</span> <span word="dressing">dressing</span>” <span word="thus">thus</span>:</p><p><span word="Arranging">Arranging</span> <span word="financial">financial</span> <span word="details">details</span>, <span word="such">such</span> <span word="as">as</span> <span word="deposits">deposits</span>, <span word="loans">loans</span> <span word="and">and</span> <span word="portfolios">portfolios</span>, <span word="to">to</span> <span word="give">give</span> <span word="the">the</span> <span word="best">best</span> <span word="possible">possible</span> <span word="impression">impression</span> <span word="for">for</span> <span word="balance">balance</span>-<span word="sheet">sheet</span> <span word="purposes">purposes</span>.</p><p><span word="Anyways">Anyways</span>, <span word="the">the</span> “<span word="window">window</span>” <span word="in">in</span> “<span word="window">window</span> <span word="dressing">dressing</span>” <span word="refers">refers</span> <span word="to">to</span> <span word="the">the</span> <span word="display">display</span> <span word="window">window</span> <span word="of">of</span> <span word="shops">shops</span> <span word="and">and</span> <span word="stores">stores</span>. <span word="This">This</span> <span word="is">is</span> <span word="the">the</span> <span word="same">same</span> “<span word="window">window</span>” <span word="as">as</span> <span word="in">in</span> <span word="window">window</span> <span word="shopping">shopping</span>, <span word="when">when</span> <span word="you">you</span> <span word="inspect">inspect</span> <span word="shop">shop</span> <span word="windows">windows</span> <span word="to">to</span> <span word="see">see</span> <span word="what">what</span>’<span word="s">s</span> <span word="on">on</span> <span word="display">display</span>, <span word="even">even</span> <span word="though">though</span> <span word="you">you</span> <span word="have">have</span> <span word="no">no</span> <span word="intention">intention</span> (<span word="or">or</span> <span word="money">money</span>) <span word="to">to</span> <span word="actually">actually</span> <span word="buy">buy</span> <span word="anything">anything</span>.</p>
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