http://market-ticker.org/akcs-www?post=170317
Timmy is like a woman,
He has two sets of dishes
His everyday
And his good china for company.
The problem is book keeping records are not like china.
Anyone who looks must be able to see the everyday transaction
Monthly reports, quarterly reports as well as the yearly reports.
But Timmy is using two sets of books and that's called FRAUD, and it comes with a prison sentence.
Timmy takes no money from the United States.
That's right NO PAYCHECK.
He is not part of a government entity.
So no natural immunity there, can serve as his excuse.
In other words
Timmy's ass should be grass
And deserves a good cutting.
And this dude is running the country WHY?
Found in a 338-page release from SIGTARP (which, incidentally, is about as nasty a piece written about a Treasury Secretary by another government body as I've ever read - and is worth reading, if you can find the time for it) comes the following:
"While SIGTARP offers no opinion on the appropriateness or accuracy of the valuation contained in the Retrospective, we believe that the Retrospective fails to meet basic transparency standards by failing to disclose: (1) that the new lower estimate followed a change in the methodology that Treasury had previously used to calculate expected losses on its AIG investment; and (2) that Treasury would be required by its auditors to use the older, and presumably less favorable, methodology in the official audited financial statements."
Oh really Turbo? Let me put this one in English for you.
In the civilian world it is illegal to present one set of books to your investors, and another to the IRS. That's called tax fraud and, if you're a publicly-traded company, securities fraud. It exposes you to a nice date with Bubba at the Graybar Motel, and it should.
But government does this sort of thing all the time. It also allows firms it controls to do this. Remember the infamous "GM" claims that "it had paid back all of the taxpayer money"? Well sure, technically - but they did so by borrowing other money - from the taxpayers! Only in Government is taking a $20 from your left pocket and putting it in your right pocket "paying off a loan."
In the rest of the world we call this what it is: A scam.
Then there's the view on HAMP. Treasury argues that every single modification (including trials) is a success, making the claim that "every single person who is in a temporary modification is getting a significant benefit."
This is a bald lie. For those who are in temporary modifications but either fall out of
