Is Fraud the cause of the crisis?

Been almost a year since I last posted but... I feel like being useful again.

So once again... News and Boobs.

Here's a great story involving the New York Fed and Lehman Brothers.

It seems that the New York Federal Reserve Bank was, prior to the crisis, allowing Lehman Brothers to transfer junk bonds and liabilities off of its own books and onto the Fed. Thus allowing Lehman to show healthier accounting records when the regulators came by.

The thing is... THIS IS ILLEGAL!!!

It's basically like if I were to transfer all my debt over to my neighbor so that I could show that I was in good financial standing. There is a name for this... it's called FRAUD!!!!!

Furthermore, the Fed branch is legally barred from taking on these toxic assets, or anything else that is less than "investment grade." I.E. You can't just buy crap with federal reserve money to help out your buddy's company. What it means is that even prior to the bailouts American Tax Payers were going to be forced to foot the bill. It also means that these investment banks were knowingly taking on crappy investments with the intent of dumping them off to the Fed if they went sour.

Which they did.

So how is this allowed to happen? Just who the hell was running the New York Fed anyhow?



Timothy Geithner!!!

Oh my God! Arrest him!!! Arrest him NOW!!!

What is he doing now? Why he's Obama's Secretary of the Treasury.

Let that be a lesson to you kids. Crime DOES pay!

Full Story

Clearly what we need here is less regulation. Shit no one's enforcing the laws anyways. Maybe we can get the number of murderers in prison down by simply making that legal too!!!



Lets move on to China.

It seems the geniuses (read: Crooks) in Washington are contemplating putting China on a list of currency manipulators.

This is stupid for several reasons...

1. China's major transgression is not that it fluctuates its currency, rather, it refuses to fluctuate its currency against the current world reserve currency like everybody else who is forced to by the IMF and World Bank.

2. Building on number one... EVERYONE MANIPULATES THEIR CURRENCY!!!!

3. Given that Fraud seems to be the sole greatest contributor to the US economy... why on earth would other countries give a damn what we think?

4. China will beat the ever living crap out of us in a trade war.

And it seems the business community at Forbes tends to agree with me on that...

Story here...

US-China trade war would be a disaster


I am beginning to think that China's rise to the number one spot may be inevitable. This is due in no small part to Washington's own blinding greed and stupidity as anything else.

Damn it! I don't want to learn Chinese!!! Why can't they just use a fucking alphabet anyways?

*Sigh*

Well are there at least some hot ones?





Ok. Ok. There's some cute ones there. But this is not news and cuties... this is News and Boobs!!! Dammit!!!






Thaaaaaat's better.