Daily Kos

Overseas creditors freaking about McSame

Thu Apr 24, 2008 at 05:57:16 AM PDT

Got this newsletter yesterday from Gryphon Financial, which is a kind of "trader's club" (only a partial quote), under a section called "Hillary Keeping Dollar Down":

SEC openly invites corporations to lie

Wed Apr 09, 2008 at 09:42:06 AM PDT

This is my second comment (I know there's a lot going one), but it's shocking, and I think worthy of someone familiar with the topic to diary about it:

After trying to save markets by cutting interest rates and bailing out
failed companies, FED came up with a "better solution" - it advised
companies to lie about their real financial status. Basically, the SEC
provided an official mechanism for allowing companies to ignore market
values of the bad investments and to hide losses from their
shareholders. Instead of working towards transparency, the SEC
provided a invitation to commit fraud.

SEC Openly Invites Corporations To Lie:

http://globaleconomicanalysis.blogsp...

http://norris.blogs.nytimes.com/...

http://www.nakedcapitalism.com/...

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