Saturday, March 13, 2010

Lehman Brothers Died in Dante's Inferno

I love the Huffington Post and Arriana is brilliant and beautiful. Today they told about the shoddy accounting practices of the now defunct Lehman brothers. So here I go ruminating about the debit and credit crowd.

Now, who says accounting fellows in pin striped suits, salt and pepper or white hair and wing tip shoes are dull and boring? These guys are funny, creative and terribly naughty. They should be spanked in public like they paddle or cane in Singapore. Think about their "Repo 105" scam! I'm rolling on the floor laughing.

And who says the Jews own Wall Street? Lehman Brothers is a nice Semitic name but 95% of all those dudes who got their tit in a wringer wouldn't let Lehman anywhere near their club. Even the accounting firm of Ernst & Young sound like hungry WASPS foraging for a big green meal.

I just love the idea of selling a few billion in toxic assets just before the end of an accounting period so you can show cash without the liabilities, and then honoring your agreement to buy it back just after the period ends a few days later. Brilliant! Well done by the green shades and rubber band shirt sleeve crowd. I wish they were Jewish. My heart soars like an eagle.

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