CBS 60 Minutes aired a piece tonight about the meltdown and crisis. They spent two days with author and former Wall Streeter Michael Lewis who wrote the book Liar's Poker, his experience working for Goldman Sachs.
Inside The Collapse Parts 1 and 2: Click here as published in GoldmanSachs666.com
(CBS) If you had to pick someone to write the autopsy report on the Wall Street financial collapse 18 months ago, you couldn't do any better than Michael Lewis. He is one of the country's preeminent non-fiction writers with a knack for turning complicated, mind numbing material into fascinating yarns.
He wrote his first bestseller, "Liar's Poker," about his experiences as a young Wall Street bond trader when he was still in his 20s and has since followed up with seven more bestsellers on subjects ranging from Silicon Valley in "The New New Thing" to big time sports in "Money Ball" and "The Blind Side."Image via Wikipedia
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Senator Kaufman Makes A Stand Against The Criminality Exposed By The Lehman Examiner Report
ReplyDeleteKaufman calls for a "a thorough investigation, both civil and criminal, to identify every last person who had knowledge that Lehman was misleading the public about its troubled balance sheet – and that means everyone from the Lehman executives, to its board of directors, to its accounting firm, Ernst & Young.
http://tinyurl.com/y9zmdtn
All we get is lip service?
ReplyDeleteUseless Regulation: Dodd Bill "Empowers" Fed To Do Nothing
Take a look at Goldman Sachs. It is preposterous that a hedge fund, (and that is all Goldman Sachs is), can borrow money from the Fed at absurdly low rates and speculate in whatever the hell it wants.
Is this a systemic risk? Of course it is.
Does Bernanke or the Fed want to do anything about it? Of course not.
Beyond absurdities in lending arrangements, Goldman Sachs routinely trades against advice it give its clients. Where is the separation of duties? I think giving advice to clients and trading against it is fraudulent, at the very least it is unethical.
Does the Fed want to do anything about that? Of Course not.
What about off balance sheet assets at Citigroup and JPMorgan?
Does the Fed want to do anything about that? Of Course not.
What about the Pay Option ARMs mess at Wells Fargo?
Does the Fed want to do anything about that? Of Course not.
http://tinyurl.com/y9xqk4n
See what happens to you if a little drug $ flowed through one of your a businesses?...not this I assure you.
(Reuters) - The Wachovia Bank unit of Wells Fargo & Co is in talks with the U.S. Justice Department to settle complaints relating to the alleged failure in bank controls that enabled Mexican exchange houses to launder drug money, the Wall Street Journal said
http://tinyurl.com/y9a229z
Can OBAMA do the Right Thing ?
ReplyDeleteI seriously Doubt IT !
Repo 105 is LEHMANGATE: Systematic Fraud and Geithner Knew About It
http://tinyurl.com/ycd4zxr
Obamacare Market Manipulation:
ReplyDeletehttp://tinyurl.com/yagbbbf
No one to watch over us.....
ReplyDeleteWednesday, March 17, 2010
Lehmangate Part 2: What Is the Rest of Wall Street Hiding?
Clearly, upon examining all of the evidence and connecting the dotted lines, Lehman committed Enron-esque fraud with its Repo 105 maneuvers and was aided and abetted by its accountant, Ernst & Young and by Federal Reserve officials, at the time, specifically Tim Geithner. At the very least all of the upper executive management team at Lehman, the board of directors at Lehman, all relevant professionals and senior management at E&Y should eventually be under indictment. I would settle for the forced resignation of Geithner, but he should be thoroughly investigated and indicted as well. Don't hold your breath for this, recall that current Attorney General Eric Holder is the guy who wrote the pardon letter for Marc Rich that Bill Clinton signed just before leaving the White House. Holder is no stranger to the enablement of criminal activity and tax evasion.
http://truthingold.blogspot.com/2010/03/lehmangate-part-2-what-is-rest-of-wall.html
The integrity of men is to be measured by their conduct, not by their professions.--JUNIUS.
ReplyDeletePerfectly describes our situation..
ReplyDeleteThe Racketeering Sector
http://tinyurl.com/yzcooee