As I listen to the speech of chairman Bernanke and a question asked to him why LEH was not bailed out. He claimed in difference to Bear Stearns there were no assets to borrow money against so they could not help them out. That is an outrageous statement, since it puts the whole situation in even more obscure circumstances.
That has 2 consequences:
1. SEC and FED never addressed this problem to the public, since they knew exactly about the assets which makes them an accomplice of fraud.
2.Fuld and his executives have lied straight down all public information releases and have put the shareholders deliberately in a situation of losses by hiding those circumstances.
That needs to be prosecuted with all the power at hand and Mr. Fuld should be sitting in jail.
Oh and what I forgot to mention, with all due respect Mr. Chairman, that's completely bullocks. I know that was not his call, it's more Mr. Paulson who sits in the drivers seat and for him it looks even worse, since he let a competitor of Goldman go bankrupt, which is more than just a conflict of interest.
Wednesday, October 15, 2008
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