written by Lorimer Wilson
Harvey Rosenfield, President of the Consumer Education Foundation, contends that “Over the last decade, Wall Street (i.e. the entire financial sector consisting of commercial banks, accounting firms, insurance companies, securities firms including hedge funds and private equity firms) showered Washington with over $1.738 billion in supposed ‘campaign contributions’ and another $3.441 billion on [...]
WSJ:
Federal investigators looking into possible accounting violations at Freddie Mac are raising questions about whether the giant government-backed mortgage company improperly delayed the recognition of billions of dollars of losses, according to people familiar with the matter.
A confidential February 2008 report by the investigative firm Kroll concluded that “inappropriate application” of accounting rules “enabled Freddie [...]
Interesting post on morgan Stanley trades
Zero Hedge:
The jolly folks at Morgan Stanley sure pulled a fast one today, trading 10% of the SPY volume at 6:40 pm, way after most people’s bed time. At least they got their league table brownie points. 30 million shares in three well dispersed blocks is nothing to sneeze at. [...]
Must read for everyone, please read it when kids are not asleep because your laugh will be little bit laud.
Thanks to inimitable Ben N. Dover III ZeroHedge
Benn Dover
Publish at Scribd or explore others: star 0804
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Interesting comment on the short selling thing by Peter Boockvar.. must read for SEC
“Short sellers (SS) didn’t get people to buy homes with no money down, SS didn’t convince people to buy homes with teaser rates, SS didn’t convince people to lie about their income on their mortgage applications, SS didn’t tell banks/brokers to lever [...]