Repo 105? What’s that? It’s immaterial, and besides, Ernst & Young says it’s great. And we told you we were screwing around with our balance sheet. So go away, silly investor. We took your money fair and square.
|By: masaccio Thursday April 8, 2010 1:15 pm|
The report of the Examiner in the Lehman Brothers bankruptcy case explains how the company used accounting tricks to hide its financial position, and how the accountants went along. No system will work if managers and professionals can play games with regulations and avoid personal liability.
|By: masaccio Tuesday March 23, 2010 4:15 pm|
The Fed Chair, Ben Bernanke, intends to fight to preserve the bureaucratic power of the Fed. We know the Fed failed to exercise its responsibilities before the Great Crash, to the detriment of everyone in society, except the financial elites. He should count himself lucky to have a job.