Comments on: The case against Lehman Brothers
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- Lehman was a Chicago firm. The house and the senate at their period of time were run by the Dems and their is a definite connnection that this information was not available during the election of 2008. Matthew Lee was a whistle blower, what he did not know was he was blowing the whistle on the SEC, the democratic chicago machine, the then Senator Barack Obama as well as Lehman brothers. The American public has got to get the Chicago mentality out of the whitehouse, hopefully Romney and the Republicans will take this information and derail the Chicago mob.
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- As was alluded to in the 60 Minutes segment, federal regulators, including the SEC, knew about the illegal activities of banks like Lehman Brothers and did nothing. That is tacit approval of the illegal activities and makes it very difficult for the federal government to prosecute executives who will use that approval as a defense.
The SEC is a cesspool of corruption just as was the Minerals Management Service. We will not see any safe banking practices in the foreseeable future because the banking industry controls the federal government not the other way around.
If you have your money in a bank account the bank is using your money to speculate in derivitives, credit default swaps and the futures markets and leveraging their depositor's money to the max.
Those of us then do not want to finance the high flying lifestyle of bankers should have some type of institution where our money will be safe and that makes loans rather then speculating in the futures markets. - Reply to this comment
- jonnyooh: "Lehman went bankrupt on Sept. 15th 2008. Obama became President of the United States on Tuesday, January 20, 2009. I just wanted to clear that up. Lehman went belly up on George Dubya's watch."
Yes, and it was all the bad paper, risky derivative instruments and extremely high financial-sector leveraging after the Financial Services Modernization Act of 1999, that allowed the 2001-06 housing boom to create this terrible bubble of wealth through lack of regulation and lack of oversight by the Fed, SEC and the bush/cheney regime! - Reply to this comment
- President Bush announced in his State of the Union address in 2007 that stimulus checks would be mailed out to taxpayers. This tells me the economy was tanking then.
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- You people really need to see "Too Big to Fail" and "Inside Job" to get a much bigger picture of how these corrupt and fraudulent financial sector criminals reamed the American people while gaming the system after the Financial Services Modernization Act of 1999 was passed, and the advent of computerized derivative instruments was added to the mix without any regulation or oversight during the 2001-06 housing boom!
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- The support system for all of these crimes is ignorance. People wonder why there's such an effort to "dumb down" America, and here you have it. Even the regulators don't understand the complex schemes. 75 Million homeowners have just had their equity and retirement resources stolen vis credit-defaults swaps, which created incentives for Wall Street to push the real estate market off a cliff. How many people really get that?
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- It is interesting that 60 Minutes failed to investigate Matthew Lee himself. He was "rubber roomed" at least twice for prolonged periods during his 14 years with Lehman Borthers for failing to work with the group he was assigned, he also had a physical altercation with a fellow employee and last but not least, 60 Minutes failed to do some basic homework through a check of Mr. Lee's claims against the estate. Based upon the link below, it appears that he purchased 25,000 shares of Lehman Brothers stock on the Friday before bankruptcy for $94,950. Seems to me, a guy who didn't believe the balance sheet should not be taking equity risk.
Link to Mr Lee's Claim
http://dm.epiq11.com/LBH/Document/GetDocument/1469934
http://dm.epiq11.com/LBH/Document/GetDocument/1469934 - Reply to this comment
- The people who own America's politicians and have stacked the SCOTUS in their favor most likely feel it would set a bad precedent to allow one of their own to go to prison. Start sending members of the crooked rich to one of those dreaded country clubs and where would it end. Tom DeLay is more likely to see the inside of a prison than Dick "Too Big To Jail" Fuld. So, Fuld failed, but pocketed a half billion in salary and perks before Lehman's went belly up. But America can't be wasting time worrying about Fuld. We've got John Edwards out there, who cheated on his wife, running loose in the streets. We need to go after scofflaws like that before we worry about someone who pretty much just screwed up the financial world and walked off with a bundle of cash that your great, great grandchildren will still be paying for. And robbed countless thousands of commoners of their retirement. Gee, I don't know. What does Rush Limbaugh think about it? What is Fox News telling the working class Republican pink necks that they keep zombified and confused till they don't know crapola from shinola? What would it actually take to get Dick Fuld behind bars? Does anybody know. Let me guess. Something that would make the Chinese Cultural Revolution look like a Church of Christ ice cream social.
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- And then all along you have been calling me Antisemitic for exposing these inherently corrupt lying,swindling,thugs...
In my next post here,I will show you 60 minute what most of clueless America does not know any understanding of the financial system in America,and are reluctant to do their due diligent in understanding what really happened here during and before the 2008 financial crisis...
What a shame Uncle damn/ Sam/scam always gets to win its corrupt and swindling games at the expense of the U.S.citizens who have lost their jobs,homes,and retirement savings plans... - Reply to this comment
- A thorough review of Repo 105 that can be easily understood:
http://investingcaffeine.com/2010/03/14/fishy-fuld-finances-%e2%80%93-repo-105/ - Reply to this comment
