Saturday, May 2, 2009

Citi Could Need $10 Billion In New Capital

To answer your question about the accuracy of the data or the reporting, I have one word - Lies!

The fact remains, absent requisite regulation in the recent past, we've had nothing more than Casino Capitalism and cooked-up books that defy every valuation method.

FASB, the self-proclaimed vanguard of the financial industry, has repeatedly skewed the "standards" to prop-up the values of dying, if not already dead, companies. Check out the latest scam (

This is simply frightening - the ability to change rules like the "mark-to-market" to gin-up profit as you please. He//, I've got some used undies I'd like to sell at hundred bucks a piece!

FASB's, in collusion with the shylocks at ABA is what gave the American Homeowners the gift of shaft (

Where are the pitchfork marches!
Read the Article at HuffingtonPost

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