Tuesday, April 13, 2010

It's a Bird, It's a Plane, it's . . .

Lehman Brothers screwing their investors by hiding its riskier investments through its undisclosed subsidiary Hudson Castle: www.nytimes.com/2010/04/13/business/13lehman.html?hp. Like Enron before them, investment firms often use these shadow organizations that: "enable banks to exchange investments for cash to finance their operations and, at times, make their finances look stronger than they are." It's a perfect postmodern tool that allows companies to hide their true financial situation and keep overly nervous investors calm and happy. Content, that is, until the firm collapses, right after the board and execs sell their shares, and they help start a worldwide financial crisis. But hey, it's a small price to pay to keep banks solvent (at least in the short run) and money flowing into the hedge funds so important to our long term economic growth. Though this has never been satisfactorily explained to the public, it has to be true. Markets are always better than government, right? Healthcare reform will destroy the economy, won't it? Sadaam Hussein planned 911, didn't he? And global warming is a farce constructed by nefarious scientists to destroy oil companies and make the world a much safer place. What will those bastards do next?

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