Egan-Jones Exposes Wall Street's "Big Investment Fraud"... In 2006

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Sun, 12/04/2011 - 12:32 | 1944009 GeneMarchbanks
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'That’s a good way of putting it. You and I and every other taxpayer are actually on the other side.'

Then what happened?

Sun, 12/04/2011 - 12:33 | 1944013 Ancona
Ancona's picture

Truly prescient.

Sun, 12/04/2011 - 12:38 | 1944040 lizzy36
lizzy36's picture

I enjoy the question about whether a trillion dollar portfolio can be effectively hedged.

One wonders tthe same thing about the Feds portfolio. Of course Blackrock is paid millions and millions to attempt just that "hedging".

Sun, 12/04/2011 - 16:56 | 1944760 spekulatn
spekulatn's picture

The business is selling an illusion. We don't need no stinkin hedges.


P.S. My fuckin bulldog hedges better  :)

Sun, 12/04/2011 - 12:39 | 1944047 nowhereman
nowhereman's picture

I'm surely mystified.  Egan Jones saw it, Roubini saw it, Taleb saw it, Zero Hedge saw it, countless others saw it, cripes, even I saw it.

How can it be, that the main stream media, still doesn't report it?

This question, and the answer to it alone demonstrates the power of the 1%

Sun, 12/04/2011 - 14:18 | 1944360 dizzyfingers
dizzyfingers's picture

"main stream media" --- "main stream" implies middle-of-the-road, or in other words, not the top. Can we spell mediocre?

Sun, 12/04/2011 - 18:31 | 1944964 ugmug
ugmug's picture

When 99% of idiots don't give a damn then the remaining 1% of idiots can do, and say, anything they want.

Sun, 12/04/2011 - 12:41 | 1944053 Snakeeyes
Snakeeyes's picture

Hey EJ, as if we don't have enough problems already!!!!!!!!!!!!!!


Look at Italy versus the US. And then look at video from Government Gone Wild. This is all OUT OF CONTROL AND WILL CRASH!

Can Europe Control Its Spending And Save The Euro (or Gyro)? Don't Look To China As A Role Model For Economic Growth Either

Sun, 12/04/2011 - 12:56 | 1944096 Seer
Seer's picture

It was the stupid notion that we have to have growth at ANY cost that got us here in the first place.  Anyone who thinks that growth will get us out of the hole doesn't have a clue.  Yes, growth could give the APPEARANCE that you're getting out of the hole, but the illusion only lasts as long as you're digging; when the digging stops, which it will, it all caves in.

Sun, 12/04/2011 - 12:51 | 1944086 ABG LINE
ABG LINE's picture

Mmm, the nostalgia.

Sun, 12/04/2011 - 12:57 | 1944102 Seasmoke
Seasmoke's picture

its been all down hill since June 30, 2006

Sun, 12/04/2011 - 13:41 | 1944258 JR
JR's picture

“Lately, the Egan-Jones credit ratings agency has experienced a lot of bad publicity from the co-opted and conflicted media, especially those in which GE has a minority stake…” -- ZH

Most all mass media is now working for or are a part of the banker-owned United States – such as NBC/Comcast.

GE's Jewish CEO Jeffrey Immelt and NBC Universal President Jeff Zucker have called the news shots at NBC, and CNBC, and MSNBC when things got sticky. Now the control is shared by US cable TV operator Comcast.  

Following regulatory approvals of a buyout agreement, on January 28, 2011 Comcast became 51% of NBC Universal with GE retaining 49% ownership; after the merger Zucker was replaced by Comcast executive Steve Burke.

The worldwide communication empire of these two giants is startling. Check them out on Wikipedia. For instance, Burke, whose father Daniel B. Burke was former President of Capital Cities (the company that once owned the ABC network) is President and COO of Euro Disney SA (was President of ABC Broadcasting 1996-98) and is a director of JP Morgan Chase and Berkshire Hathaway… etc. etc etc.

One third of Comcast is controlled by Jewish CEO Brian L. Roberts, son of Ralph Roberts who was one of the founders and a former chairman of the company; Brian Roberts also claimed three silver medals from his contribution to the U.S. squash team at the Maccabiah Games (the Jewish Olympics) in Israel in 1981, 1985, and 1997.

MSNBC is regularly accused of political bias because of its leftward tilt; CNBC is a business news channel watched by traders and investors around the globe; it was a shill for the bailout…for Gore/Goldman-style “green energy”…for the stimulus package.

And that’s just one global media corporation…

Is it any wonder that the tyranny in the halls of government becomes consistently stronger when the watchdogs of the press, no longer watching, are instead operating their own empires to serve their own interests?

Sun, 12/04/2011 - 18:37 | 1944983 tj3
tj3's picture

jee-whiz Batman; I never knew that the Murdoc's were jewish...keep the up good work, your reward awaits you.

Sun, 12/04/2011 - 13:46 | 1944272 slewie the pi-rat
slewie the pi-rat's picture

i was right once, too

but at this point i've lost hope of it happening again in the near future

Sun, 12/04/2011 - 13:57 | 1944304 riley martini
riley martini's picture

 The Republicans were paid $3 million to look the other way while the Democrats robbed and destroyed Fannie and Freddie . Republican Newt Grengrich recieved most of that money in consultying fees. Newts conclusion they should go to jail and thanks for the free money suckers . Let your children get a job.

Sun, 12/04/2011 - 14:01 | 1944316 riley martini
riley martini's picture

 Don't forget the murder of CFO Kellerman right before the bonus money scam could be made public. The new CFO made no such disclosures lest he be murdered .

Sun, 12/04/2011 - 14:27 | 1944372 JR
JR's picture

Sorry, posted comment on wrong page.

Sun, 12/04/2011 - 16:19 | 1944660 sabra1
sabra1's picture

no problem, CNBCrap is a little more to the left!

Sun, 12/04/2011 - 14:45 | 1944406 Stagflationary
Stagflationary's picture

Egan-Jones - The stopped clock of credit rating agencies.

Sun, 12/04/2011 - 21:58 | 1945455 StychoKiller
StychoKiller's picture

So, you'd rather place yer faith in
the clock(s) that are spinning at random speeds,
and going in arbritrary directions? Good luck with that!

Sun, 12/04/2011 - 19:26 | 1945086 ToNYC
ToNYC's picture


Model is Media Whore.

= Mark-to-Media Whore


Go E-J, exposing the risks rather than smoking the hopium that the monopoly banker club lays out.

Mon, 12/05/2011 - 01:25 | 1945858 Grand Supercycle
Grand Supercycle's picture

SP500 bull vs bear battle maintains bearish bias after Friday price action and more downside expected.

My long term indicators have continued to warn of US Dollar strength and EURO weakness and these signals have increased since 2009. The overdue dollar rally should be substantial.

Wed, 12/07/2011 - 01:09 | 1953887 emma100
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