Comments on: Scary Charts and Serious Jumbo Delinquencies http://maxkeiser.com/2010/02/08/scary-charts-and-serious-jumbo-delinquencies/ Financial War Reports Thu, 24 May 2012 17:22:58 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Alastair Carnegie http://maxkeiser.com/2010/02/08/scary-charts-and-serious-jumbo-delinquencies/#comment-83643 Alastair Carnegie Tue, 09 Feb 2010 14:09:05 +0000 http://maxkeiser.com/?p=4587#comment-83643 There are ominous noises emanating from the deep subterranian basements of Wall Street and elsewhere. This is where the files on toxic assets are stored, the company morgue. Trillions of phantom shares resulting from past naked short selling, a scam called 'Cellar Boxing' a scheme invented by a deranged (he eats insects) psychopathic professor of economics, who is now cared for in a lunatic asylum. These files are known as "The Zombie Files" and catalogue the thousands of dodgy deals that constitute the 'quadrillion dollar debt'. Some of these companies, (where a $100 can buy you a million shares), are still alive (just) 'undead' would be a better description, (buried alive), CmKm Diamons Inc. for instance have recently filed a $3.85 Trillion Lawsuit against the regulators...$2.2 Trillion of Her Majesty's Gold has gone walkabout somewhere in the Australian outback called 'Snake Hill'....Yes indeed, strange and terrible noises from the sub-basements of Wall Street....The Zombie Files are alive again. There are ominous noises emanating from the deep subterranian basements of Wall Street and elsewhere. This is where the files on toxic assets are stored, the company morgue. Trillions of phantom shares resulting from past naked short selling, a scam called ‘Cellar Boxing’ a scheme invented by a deranged (he eats insects) psychopathic professor of economics, who is now cared for in a lunatic asylum. These files are known as “The Zombie Files” and catalogue the thousands of dodgy deals that constitute the ‘quadrillion dollar debt’. Some of these companies, (where a $100 can buy you a million shares), are still alive (just) ‘undead’ would be a better description, (buried alive), CmKm Diamons Inc. for instance have recently filed a $3.85 Trillion Lawsuit against the regulators…$2.2 Trillion of Her Majesty’s Gold has gone walkabout somewhere in the Australian outback called ‘Snake Hill’….Yes indeed, strange and terrible noises from the sub-basements of Wall Street….The Zombie Files are alive again.

]]> By: frances snoot http://maxkeiser.com/2010/02/08/scary-charts-and-serious-jumbo-delinquencies/#comment-83590 frances snoot Tue, 09 Feb 2010 11:37:07 +0000 http://maxkeiser.com/?p=4587#comment-83590 June 16, 2008 "Citigroup Settles SEC Charges Relating to Argentina Crisis The SEC and Citigroup settled charges regarding Citigroup’s accounting relating to the impact of the economic and political crisis in Argentina on the company’s operations during the fourth quarter of 2001. In the latter part of 2001 and continuing into 2002, Argentina experienced a severe economic and political crisis during which, among other things, the Argentine government defaulted on certain of its sovereign debt obligations, devalued its currency, and abandoned the one-to-one ratio between the Argentine peso and the United States dollar. The actions of the Argentine government during the crisis required Citigroup to make a number of significant accounting decisions for the fourth quarter of 2001. Citigroup was required to account for (1) the impact of the company’s participation in a government-sponsored exchange of Argentine government bonds for loans (the “Bond Swap”); (2) the value of Argentine government bonds held by Citigroup that were not eligible for the Bond Swap (the “Non-Swapped Bonds”); (3) the sale of Banco Bansud S.A. (“Bansud”), the Argentine subsidiary of Banco Nacional de Mexico, S.A. (“Banamex”), which Citigroup had acquired in August 2001; and (4) the impact of government actions that resulted in the conversion of over $1 billion of Citigroup loans from dollars to Argentine pesos. According to the SEC, Citigroup accounted for each of these items in a manner that did not conform with generally accepted accounting principles (“GAAP”) and overstated its income reported in the company’s earnings press release included in a Form 8-K filed with the Commission on January 18, 2002, and in the company’s annual report on Form 10-K for 2001 filed with the Commission on March 12, 2002. Without admitting or denying the allegations, Citigroup consented to the entry of an Order Instituting Cease-and-Desist Proceedings, Making Findings, and Imposing a Cease-and-Desist Order Pursuant to Section 21C of the Securities Exchange Act of 1934 (“Order”)." http://lawprofessors.typepad.com/securities/2008/week25/index.html June 16, 2008

“Citigroup Settles SEC Charges Relating to Argentina Crisis

The SEC and Citigroup settled charges regarding Citigroup’s accounting relating to the impact of the economic and political crisis in Argentina on the company’s operations during the fourth quarter of 2001. In the latter part of 2001 and continuing into 2002, Argentina experienced a severe economic and political crisis during which, among other things, the Argentine government defaulted on certain of its sovereign debt obligations, devalued its currency, and abandoned the one-to-one ratio between the Argentine peso and the United States dollar. The actions of the Argentine government during the crisis required Citigroup to make a number of significant accounting decisions for the fourth quarter of 2001. Citigroup was required to account for (1) the impact of the company’s participation in a government-sponsored exchange of Argentine government bonds for loans (the “Bond Swap”); (2) the value of Argentine government bonds held by Citigroup that were not eligible for the Bond Swap (the “Non-Swapped Bonds”); (3) the sale of Banco Bansud S.A. (“Bansud”), the Argentine subsidiary of Banco Nacional de Mexico, S.A. (“Banamex”), which Citigroup had acquired in August 2001; and (4) the impact of government actions that resulted in the conversion of over $1 billion of Citigroup loans from dollars to Argentine pesos. According to the SEC, Citigroup accounted for each of these items in a manner that did not conform with generally accepted accounting principles (“GAAP”) and overstated its income reported in the company’s earnings press release included in a Form 8-K filed with the Commission on January 18, 2002, and in the company’s annual report on Form 10-K for 2001 filed with the Commission on March 12, 2002.
Without admitting or denying the allegations, Citigroup consented to the entry of an Order Instituting Cease-and-Desist Proceedings, Making Findings, and Imposing a Cease-and-Desist Order Pursuant to Section 21C of the Securities Exchange Act of 1934 (“Order”).”

http://lawprofessors.typepad.com/securities/2008/week25/index.html

]]> By: frances snoot http://maxkeiser.com/2010/02/08/scary-charts-and-serious-jumbo-delinquencies/#comment-83587 frances snoot Tue, 09 Feb 2010 11:28:49 +0000 http://maxkeiser.com/?p=4587#comment-83587 "Update of March 1, 2004: now here's a scary thought: Citigroup, with its predatory lending settlements, is moving to because THE credit history bureau in China. The American Banker newspaper reported last week that "China has no credit bureau, so Citi will gather information on applicants and try to act like a fledgling bureau. Most Chinese consumers do not have experience with revolving credit, so Citi will hold seminars on managing credit wisely. " If this "training" is anything like what CitiFinancial does in the United States, the Middle Kingdom will be rife with predatory lending - perhaps even class action lawsuits, and captured regulators, one day... Meanwhile, JAGfn of Feb. 26 reports that Lehman Brothers " recently met with the management of Citi's Japanese consumer finance operation, CitiFinancial Japan (CFJ). Although a small portion of overall earnings, with improvement in other areas, it has spotlighted areas of remaining weakness like CFJ. We came away impressed that the business has been stabilized, restructuring steps are now complete." Yep, Citi is taking predatory lending GLOBAL..." http://www.innercitypress.org/citi.html Stanley Fish was president of international operations for Citigroup during the Chinese seduction. “Update of March 1, 2004: now here’s a scary thought: Citigroup, with its predatory lending settlements, is moving to because THE credit history bureau in China. The American Banker newspaper reported last week that “China has no credit bureau, so Citi will gather information on applicants and try to act like a fledgling bureau. Most Chinese consumers do not have experience with revolving credit, so Citi will hold seminars on managing credit wisely. ” If this “training” is anything like what CitiFinancial does in the United States, the Middle Kingdom will be rife with predatory lending – perhaps even class action lawsuits, and captured regulators, one day… Meanwhile, JAGfn of Feb. 26 reports that Lehman Brothers ” recently met with the management of Citi’s Japanese consumer finance operation, CitiFinancial Japan (CFJ). Although a small portion of overall earnings, with improvement in other areas, it has spotlighted areas of remaining weakness like CFJ. We came away impressed that the business has been stabilized, restructuring steps are now complete.” Yep, Citi is taking predatory lending GLOBAL…”

http://www.innercitypress.org/citi.html

Stanley Fish was president of international operations for Citigroup during the Chinese seduction.

]]> By: frances snoot http://maxkeiser.com/2010/02/08/scary-charts-and-serious-jumbo-delinquencies/#comment-83583 frances snoot Tue, 09 Feb 2010 11:18:52 +0000 http://maxkeiser.com/?p=4587#comment-83583 http://www.group30.org/bios/members13.htm http://www.group30.org/bios/members13.htm

]]> By: frances snoot http://maxkeiser.com/2010/02/08/scary-charts-and-serious-jumbo-delinquencies/#comment-83581 frances snoot Tue, 09 Feb 2010 11:18:16 +0000 http://maxkeiser.com/?p=4587#comment-83581 Stanley Fischer: member G30 "Stanley Fischer has been Governor of the Bank of Israel since May 2005. Prior to joining the Bank of Israel, Prof. Fischer was Vice Chairman of Citigroup from February 2002 through April 2005, where he was also Head of the Public Sector Group from February 2004 to April 2005, Chairman of the Country Risk Committee, and President of Citigroup International. Prof. Fischer was the First Deputy Managing Director of the International Monetary Fund, from September 1994 until the end of August 2001. Before he joined the IMF, Prof. Fischer was the Killian Professor and Head of the Department of Economics at MIT (Massachusetts Institute of Technology). From January 1988 to August 1990 he was Vice President, Development Economics and Chief Economist at the World Bank." Stanley Fischer:

member G30
“Stanley Fischer has been Governor of the Bank of Israel since May 2005. Prior to joining the Bank of Israel, Prof. Fischer was Vice Chairman of Citigroup from February 2002 through April 2005, where he was also Head of the Public Sector Group from February 2004 to April 2005, Chairman of the Country Risk Committee, and President of Citigroup International.

Prof. Fischer was the First Deputy Managing Director of the International Monetary Fund, from September 1994 until the end of August 2001. Before he joined the IMF, Prof. Fischer was the Killian Professor and Head of the Department of Economics at MIT (Massachusetts Institute of Technology). From January 1988 to August 1990 he was Vice President, Development Economics and Chief Economist at the World Bank.”

]]> By: Alister http://maxkeiser.com/2010/02/08/scary-charts-and-serious-jumbo-delinquencies/#comment-83556 Alister Tue, 09 Feb 2010 09:34:32 +0000 http://maxkeiser.com/?p=4587#comment-83556 @GGEES orly? @GGEES

orly?

]]> By: GGees http://maxkeiser.com/2010/02/08/scary-charts-and-serious-jumbo-delinquencies/#comment-83547 GGees Tue, 09 Feb 2010 08:40:07 +0000 http://maxkeiser.com/?p=4587#comment-83547 Stanley Fischer is an ass wipe and his comments are BS Stanley Fischer is an ass wipe and his comments are BS

]]> By: GGees http://maxkeiser.com/2010/02/08/scary-charts-and-serious-jumbo-delinquencies/#comment-83546 GGees Tue, 09 Feb 2010 08:39:27 +0000 http://maxkeiser.com/?p=4587#comment-83546 LOL @ bowel movement!! LOL @ bowel movement!!

]]> By: Alister http://maxkeiser.com/2010/02/08/scary-charts-and-serious-jumbo-delinquencies/#comment-83545 Alister Tue, 09 Feb 2010 08:01:49 +0000 http://maxkeiser.com/?p=4587#comment-83545 @ Y'all Question: Does anyone know Y the Industrial Revolution failed to take root in the East as quickly as it did in the West...?? I realise some basic reasons but anyone know of good literature explaining this ? tx @ Y’all

Question:

Does anyone know Y the Industrial Revolution failed to take root in the East as quickly as it did in the West…?? I realise some basic reasons but anyone know of good literature explaining this ? tx

]]> By: Alister http://maxkeiser.com/2010/02/08/scary-charts-and-serious-jumbo-delinquencies/#comment-83544 Alister Tue, 09 Feb 2010 07:48:27 +0000 http://maxkeiser.com/?p=4587#comment-83544 Stanley Fischer on China Part 1 http://www.youtube.com/watch?v=D2jE5ExuGXk&feature=related Part 2 http://www.youtube.com/watch?v=amDWTBr3lIo&feature=related Stanley Fischer on China

Part 1
http://www.youtube.com/watch?v=D2jE5ExuGXk&feature=related

Part 2
http://www.youtube.com/watch?v=amDWTBr3lIo&feature=related

]]> By: The Underfundedmentalist http://maxkeiser.com/2010/02/08/scary-charts-and-serious-jumbo-delinquencies/#comment-83543 The Underfundedmentalist Tue, 09 Feb 2010 07:38:29 +0000 http://maxkeiser.com/?p=4587#comment-83543 @ dan if money goes digital selling gold might prove difficult, bartering is near impossible to stop though @ dan
if money goes digital
selling gold might prove difficult,
bartering is near impossible to stop though

]]> By: Alister http://maxkeiser.com/2010/02/08/scary-charts-and-serious-jumbo-delinquencies/#comment-83542 Alister Tue, 09 Feb 2010 07:38:08 +0000 http://maxkeiser.com/?p=4587#comment-83542 A venerable & highly important voice Stanley Fischer, governor at Bank of Israel , Davos '10 http://www.youtube.com/watch?v=yXiiGK9Pw8s A venerable & highly important voice

Stanley Fischer, governor at Bank of Israel , Davos ’10

http://www.youtube.com/watch?v=yXiiGK9Pw8s

]]> By: dan valley http://maxkeiser.com/2010/02/08/scary-charts-and-serious-jumbo-delinquencies/#comment-83541 dan valley Tue, 09 Feb 2010 07:28:39 +0000 http://maxkeiser.com/?p=4587#comment-83541 STRATFOR http://bit.ly/bxNZ1x. Call it a Financial Fourth Reich STRATFOR http://bit.ly/bxNZ1x. Call it a Financial Fourth Reich

]]> By: dan valley http://maxkeiser.com/2010/02/08/scary-charts-and-serious-jumbo-delinquencies/#comment-83540 dan valley Tue, 09 Feb 2010 07:27:03 +0000 http://maxkeiser.com/?p=4587#comment-83540 Confiscation of gold makes economic sense if you want to delay dollar collapse but politically impossible, like taking guns. Confiscation of gold makes economic sense if you want to delay dollar collapse but politically impossible, like taking guns.

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