Worse Than Enron?

Worse Than Enron?

www.thedailybeast.com

Wall Street’s big banks are playing dangerous new accounting games—and this time taxpayers are on the hook for hundreds of billions. Nomi Prins uncovers a scandal in the making.

The nation’s biggest banks, plumped up on government capital and risk-infused trading profits, have been moving stuff around their balance sheets like a multi-billion dollar musical chairs game.

(visit the link for the full news article)

I don't even know where to start with this. All we have been hearing is how the stock market is on the rise but anyone with half a brain knows that the stock market means little to nothing when it comes to what is really happening behind closed doors.

This does not have good implications and just gives the average American more reason to hold on to their money and be ready for things to come.

www.thedailybeast.com
(visit the link for the full news article)

[edit on 3-12-2009 by TV_Nation]

Well, for starters, how is this news?

It's much worse than Enron. People think it is so bad, they don't even remember, Enron.

Your article sucks, and makes people who do know what is going on, out to be idiots.

It's outrageous..I'll give you that.

reply to post by Blanca Rose



I agree the Enron comparison is pretty stupid but that was the name of the article so that is the title that should be used...

I would not say the article sucks either there is some decent information on how these companies are skewing their financial information.

I think you need hug

Saying today's mess is "worse than Enron" is like saying pancreatic cancer is worse than a chipped toenail.

Originally posted by silent thunder
Saying today's mess is "worse than Enron" is like saying pancreatic cancer is worse than a chipped toenail.

I know. I really hate it when my toenail gets chipped.

Most financial institutions today seem to be corrupt or manipulative in some way.

I thought the article was good if a bit thin on real information, exactly the same as the financial reports she is writing about.
I'm sure it's more of the same old shell game, look good and make that salary until the truth leaks out and the ship sinks (but hey,. I got mine!)
If we ran a restaurant the way they do the megabanks your hamburger would be the size of a quarter and they would tell you it's fine: it;s got all the nutrition you need in that one little bite, trust us.