The Financial Accounting Standards Board, which sets rules for U.S. companies' financial statements, and the International Accounting Standards Board, which does the same worldwide, requires companies to prepare consolidated financial statements when they hold a controlling interest -- more than 50 percent ownership -- in other businesses.
Scalawags and Carpetbaggers. Scalawags and Carpetbaggers were derogatory terms used in the aftermath of the Civil War. Scalawags referred to a group of white Republican Southerners who sympathized with the federal Reconstruction effort.
The charge of corruption laid at the door of the Negro carpetbagger governments is to a large extent true. The Journal of Negro History, Volume 5, 1920 Various. We'll hang the little Scalawag on the south side and the carpetbagger on the north. You'll go down, all rightâwithout those troopsâmark my word, cried the carpetbagger. But most Southerners preferred the rule of the army to the alternative reign of the carpetbagger, scalawag, and Negro.