A FASB redux.
The veil’s opaqueness has an opacity of 30 percent, and the financial mafia’s ways are clearly visible to anyone not fixated on “Jersey Shore.” I have a minute by minute post-mortem of the Ellis Martin/Sinclair interview [Click Here for Sinclair's blog] but the CliffNotes are: Like the Fed, the member banks also own and control ISDA. Sinclair says that MF Global had insurance for its psychopath [my words] bets—but that ISDA didn’t call it a default. Basically the insurance was ruled null and void by ISDA according to Sinclair. It unveils why someone walking two unleashed dogs [Click Here] gets tazered and MF Corzine walks free when 40,000 clients are missing 1.2 billion. In other words, ‘Don’t blame me, go talk to the White House Chief of Staff about his bank and the insurance plan they call the shots on.’ Link:Citigroup Replaces JP Morgan as White House Chief of Staff
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1 comment:
They are CRIMINALS. How can they legally have 1.4 trillion in assets, but have 89 trillion in derivatives, which I believe are liabilities (I could be wrong). The rich, revolving door CEO's who later take positions in the Treasury or Federal Reserve, "advise" Senators and Representatives on the laws they should write to aid and protect their OTHER very wealthy friends and connections. You or I go to jail for check kiting, or a bad check, or other penny-ante financial crimes (some are merely mistakes, but no matter to the judge). We go to PRISON for some other more serious financial fraud and misrepresentation. PRISON --- for you and I!!! THEY get to buy another Mercedes or a vacation home in the Bahama's and send their kids to Harvard or Edinburg University. To learn how to keep the syytem working smoothly in their favor. Hey! Where is that goof who said "the system is working" or the other dumbo who said that talk of a revolution or civil uprising is "treasonous". Do either of them think these guys are going to magically become honest and NOT continue to steal from the "regular" people"???? Well???
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