We discuss self-reporting financial crimes and private equity ripping teeth out of four year olds for profit. In the second half of the show Max talks to Teri Buhl about JP Morgan’s Wells Notice and what bad news that could mean to the troubled bank’s fortunes.
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We discuss market participating rally monkeys, market regulating surrender monkeys, economic policy making suicide monkeys and Greek ministry website hacking cheeky monkeys. In the second half of the show, Max talks to David Hales about ending top down Central Bank imposed financial and economic systems with peer to peer economics.
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Posted in Keiser Report
Tagged anonymous, bear stearns, bitcoin, david hales, keiser report, p2p currency, p2p economics, ripple, sec
You heard it on the Keiser Report first! Teri Buhl warned there would be more than a dozen new whistleblowers coming forward to explain how Bear Stearn’s and their mortgage trades raped their own clients and knowingly sold them mortgage securities full of garbage. But now we learn in a new lawsuit against Bear and it’s new overlord J.P.Morgan how far they went to cover it up when the clients asked for their damn money back. J.P. Morgan could have to pay out billions for the sins of Bear Stearns. Ha ha ha ha, I know, I know . . . if there were justice. But at least in a theoretical world they could have to pay for their crimes. But the Bear mortgage traders might want to start hiring criminal defense lawyers, cuz the morgue ain’t got their backs . . .
Teri Buhl: Lawsuit shows more Fraud and Coverup from Bear’s Mortgage Team
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Stacy Summary: Great work from Teri Buhl:
J.P. Morgan who bought Bear Stearns and EMC in 2008 also assumed litigation risk. It’s JPM’s deep pockets that institutional investors in Bear’s RMBS are counting on paying out billions in damages for the actions of these dubious Bear executives. Stay tuned because the New York A.G. questions don’t appear to be ones JP Morgan can delay or ignore. There’s an old saying that you don’t get in trouble so much for what you are doing as for what you have done — and this is a perfect example. These things have a way of catching up with you over time.
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Stacy Summary: Good morning. Max is on Irish radio this morning, looking for any links for you . . .
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Stacy Summary: It grows more evident every day that the global economy is truly in the hands of jokers.
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Stacy Summary: A week or two ago I posted a piece by Frank Rich regarding the absence of justice. I think the headlines today show the consequences of zero justice for the financial fraud and the bankers that committed the fraud. Back to business as usual, as the first article points out, so one can only expect the next crash down will be even bigger . . . and by the end I imagine the population at large will have meted out the justice that Government Sachs / Obama Admin refuses to.
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Posted in Headlines
Tagged bear stearns, gambling, goldman, mobius, profiteering, speculating
Rick Ackerman
Karl Denninger – Market Ticker The Big Picture Mish David Morgan King World News SmartKnowledge GoldCore
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A Lightning War for Liberty
