Registered: May 2011
Posts: 6187

Not much new here, but even with the simple information from this video, it is simply mind boggling that none of these guys have done the perp walk yet. I wonder if a few token heads are going to roll right before election season here to make it look like Obama is actually making attempt at prosecuting some of these guys.



One other thing i found funny about the video is that Dick Fuld is apparently running a business consulting firm now.

I wonder what some of his lessons are called....

"How to blow up a 100 year old bank and bring the entire world down with you."
"Creative accounting 101, how to mark your assets value up by 1000%, and avoid jail time"
"The joys of 50-1 leverage in a housing bubble"
"The pain of 50-1 Leverage on a 2% pullback"

Feel sorry for the poor bastards who hire him for advice..... Though its pretty tough to say "Well i didnt see that one coming" if your business goes under shortly after seeking his advice....

Registered: Jul 2008
Posts: 4546

I recall Fidelity Investment's Financial Statements available online at the time stated Lehman was levered 20+:1.

Apparently now it was actually 44:1. Maybe by the end it was, but 20 was as unacceptably high as the final whimper at 44:1 that no amount of trading could ever overcome.

Registered: Feb 2004
Posts: 1419

It's the Golden Rule at work once again...whoever has the gold makes the rules.

so-i-make-the-rules.jpg
This has been downloaded 129 time(s).

Registered: Dec 2008
Posts: 497

Crooks got away under the (porn jacking) SEC cover fire and the whistler blower got nailed (again).

System works solid, as always

Registered: May 2002
Posts: 6405

------------Not much new here, but even with the simple information from this video, it is simply mind boggling that none of these guys have done the perp walk yet. I wonder if a few token heads are going to roll right before election season here to make it look like Obama is actually making attempt at prosecuting some of these guys.-------

what surprise me in US that no one ever got killed after event like this one. i'm pretty sure, if some seriously pissed off folks,who lost everything, did shoot couple bankers from WS\Lehman-next time those mofo's would think twice before they f**d with customers..people in US have no balls..

Registered: May 2002
Posts: 6405

http://www.youtube.com/watch?v=LX6kVRsdXW4

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