Stacy Summary: Two stories on Bloomberg today highlight perfectly our theory of Rigged Market Capitalism.
Tags: goldman sachs · monsanto144 Comments
Stacy Summary: Two stories on Bloomberg today highlight perfectly our theory of Rigged Market Capitalism.
Tags: goldman sachs · monsanto144 Comments
Stacy Summary: For those looking for a reprieve from markets, finance, scandal, here is a video you might enjoy. I just heard the song on the radio in the cafe. This song came out when I was living in LA and it brings back powerful memories of a strange place.
Stacy Summary: I know it’s been linked to already, but for those who missed it; here is Dylan Rattigan on the Repo 105 / Lehman story.
Tags: lehman · repo 10561 Comments
Stacy Summary: Re: the banking raj, I believe the banking occupation around the world operates in a very British Raj like system where the local big men (and women) are rewarded handsomely to keep down the local peasants. So, as per @Danny’s link, NAMA chairman receives 70% pay increase while the peasant workers are forced to eat austerity. For next Thursday’s Keiser Report, we will be interviewing David McWilliams so if you have any questions for him, please put them in comments below. If we use your question, we will use your screen name unless you note otherwise.
Stacy Summary: Here is a youtube copy of the interview Max gave last week to Athens International Radio. Thanks to thornlessrose2009 for the upload
Tags: athens international radio · helen skopis · max keiser15 Comments
Stacy Summary: Guest is Birgitta Jonsdottir!
Tags: birgitta jonsdottir · max keiser · On the Edge · stacy herbert101 Comments
Stacy Summary: There’s a war on and Paul B Farrell has a new site with news from behind enemy lines.
Tags: Jibber Jabber95 Comments
Stacy Summary: I wonder how much Valukas was paid to come up with the same information that Keiser provided to Huffington Post for free? First, here is Max’s article from July 2008:
It’s peek-a-boo accounting where debts are removed from the balance sheet during the period when disclosure is needed (for quarterly earnings reports) and than the debt is temporarily parked back onto the company’s balance sheet, or parked on another bank’s balance sheet with an implied reciprocal agreement. (Enron had hundreds of shell companies that served as ‘debt parking lots’ to avoid having to include any liabilities on their quarterly earnings statement).
Lehman Brothers looks like they are trying to out-Enron Enron in the peek-a-boo accounting department.
And these are the findings on Lehman’s accounting ‘gimmicks’ in March 2010:
[Anton Valukas] was scathing, however, about the bank’s “inherently improper” use of an accounting practice known as Repo 105, designed to remove temporarily $50 billion of debt from its balance sheet, without telling investors or regulators.
Tags: lehman brothers · max keiser · repo 105115 Comments
Stacy Summary: What!? Goldman Sachs wasn’t involved!?
Tags: citigroup · jpmorgan26 Comments