They cooked the books!

[Sassy]

Did anyone see this episode of Bill Moyers journal when Wm K Black was interviewed?  It was run 11 months ago but still worth watching to understand where our economy is at - Wm Black breaks it down pretty simply.

http://www.youtube.com/watch?v=Rz1b__MdtHY

Lehman Bros - They cooked the books - remind you of Enron & many others?   

http://www.msnbc.msn.com/id/21134540/vp/35841681#35841681

[ScottA]

There are some very strange things going on lately. There an obvious extraction of available capital from the general population. So many ways have been created to remove money from circulation it can't all be by accident. As a result tax revenues are way down everywhere leaving government scrambling to borrow even more money so they can give it away to the banks.

The Federal government seems to be trying to alienate the people on purpose. Like they don't care what the people think. At the same time they are beating war drums which historicaly is done to rally support. Makes little sense to do both but they are doing it. Iran, Russia and now even China are being demonized. China is a major trading partner and owns alot of US debt.

Lastly, we are seeing more and more coverage by the media showing the federal government in a negative light. Until recently this sort of thing had all but stopped. Even 9/11 is being discussed by the MSM. Something is cooking and it's almost ready to boil.

[pagan]

I did a lot of work on Enron stuff when I worked at an investment bank in NYC. Even as a "simple" computer graphics technician I could see what they were doing was illegal. None of the bankers would discuss what Enron was up to because it was generating tons of cash for the bank. After Enron tanked several of the bankers had to testify before congress and I helped one banker with his presentation work. The global head was telling him to "protect" the bank's interests. When he asked if he should lie the head just repeated "protect the bank." He asked me what I thought about testifying and I told him to tell the truth, if you lie you're the one going to jail. After he testified he was transferred to Texas, and then fired a short time later.

Everything I've seen over that last few years looks the same as with Enron. These people know what they're doing and they're doing it for a reason; making lots of money. They don't care who they hurt as long as it generates revenue for the bank and its shareholders, and by extension to the bankers via bonuses. Forbes lists 400 of the richest people in America who share a combined worth over $1.27 trillion, and their net worth has increased over the last year despite the difficult economy. If you look, it's easy to see where all of the money is going.