Monday, March 15, 2010

Dylan Ratigan – Explanation of ‘Repo 105’ Transactions and Accounting Fraud…

Great video explanation of the fraud that not only was occurring just before Lehman was failing, but is still ongoing today. Don't misunderstand, this is just one part of the accounting fraud, not anywhere near the whole enchilada. Nothing has changed, other than the FASB being rolled under pressure to accept worse and worse practices. This is what happens when you back your money with debt requiring never ending growth.

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