Shame on the FED for not calling them out.

Ponzi scheme revisted.

Exactly, Peggy Sue. A Ponzi scheme defers the day of reckoning. As long as new suckers are brought into the scheme to make it look like everything is on a solid foundation, the “business” thrives. But the day of reckoning eventually arrives, at least in theory. It is appalling, however, to see how long Madoff was able to fend off the ultimate accounting. I’m afraid that many banks and others in high finance will also be able to defer Armageddon for a long time. After all, the government is on their side.

Look at the language: creative accounting,the great whitewash, create the impression, phantom income, impaired assests . . .

Ponzi scheme revisted. Or part 2. Bernie Madoff was small potatoes next to this!

Thanks for the ongoing material, Larry.

…it took more time. First was the programmers and developers….Systems Administration usually requires hands on. So they had to get a full team in place to be able to put them on sight.

Amazing the lenghths they go to, to fudge the books, huh?

And of course, Weary Barry is just handing over our tax dollars and burdening us with more debt, he’s not intending or fixing the problems with these financial and housing institutions that got us here.

You know, this is just another version of what Amex They started of by laying off employees and hiring Contractors to make they were decreasing salaries for the books, share holders and stocks market. But they were increasing costs (under different expenses) and having less Quality work by those employees. They were playiing this game over a decade ago.

Then they perfected it by bringing in employees from India for American workers to train. They would put them up in hotels, 4-8 to a room and get good first hand training by the American employees, while building Call centers in India, or preparing for more “Contractor” work in India to do the work.

After they were trained and shipped back to India, it took a little more time, then the remaining American employees, or even the American Contractor jobs went to India.

Gotta’ love their greed while burdening American’s with loss of work and money but increased tax burden.

This “managed earnings” process can be played for an extended period, but ultimately the earnings – or more importantly “hidden losses” – come out in the wash.

My question is: when do you think this day of reckoning will likely arrive? Do you have a general sense of when the actual concealed damage will “come out in the wash”? How long can they continue the deception? What might trigger the day of reckoning? When might “ultimately” arrive? What kibd of time frame are we looking at here?

It is a crock of sh***. They are creating a ponzi scheme like Madoff to give more $ to the federal reserve and Soros gang of thieves.

As long as Geithner and Bernanke are directing the play don’t expect anything but a “Farce”.

Liars and thieves who are allowed to operate so blatantly will bring us down as sure as shootin’.

Transparency? What a laugh. This collusion between Treasury and the banks is a good example of the sleight of hand Obama has been practicing all along.