Political Beat-down and Flames -  Madoff whistleblower claims GE fraud (134 views) Notify me whenever anyone posts in this discussion.Subscribe
 
From: Pat (Pat012)Aug-15 12:05 PM 
To: All  (1 of 9) 
 103996.1 

Madoff whistleblower claims General Electric is committing fraud ‘bigger than Enron and Worldcom combined’

https://www.yahoo.com/finance/news/madoff-whistleblower-claims-ge-committing-accounting-fraud-131211577.html

Ethan Wolff-Mann,Yahoo Finance 2 hours 44 minutes ago

The accountant who blew the whistle on Bernie Madoff’s scheme is blowing the whistle again with a new report attacking GE’s (GE) accounting practices.

In a 175-page report posted online, forensic accountant Harry Markopolos and his fraud team allege that GE is committing $38 billion in accounting fraud.

“[I]t’s the biggest, bigger than Enron and WorldCom combined,” he wrote. “In fact, GE’s $38 Billion in accounting fraud amounts to over 40% of GE’s market capitalization, making it far more serious than either the Enron or WorldCom accounting frauds.”

Markopolos is calling GE “GEnron,” because the company appears to be “using many of the same accounting tricks that Enron did.”

Gee, is anyone surprised???  This is how Corporate America operates.

regards,

Pat  cool

 

Harry Truman

Once a government is committed to the principle of silencing the voice of opposition, it has only one way to go, and that is down the path of increasingly repressive measures, until it becomes a source of terror to all its citizens and creates a country where everyone lives in fear."
[Special Message to the Congress on the Internal Security of the United States, August 8, 1950]

Patriotism is supporting your country all the time, and your government when it deserves it - Samuel Clemens

“The mind of a bigot is like the pupil of the eye. The more light you shine on it, the more it will contract.”
 
Oliver Wendell Holmes Jr.

Facts do not cease to exist because they are ignored. - Aldous Huxley

 
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From: Ritabert DelphiPlus Member IconAug-15 12:35 PM 
To: Pat (Pat012)  (2 of 9) 
 103996.2 in reply to 103996.1 

No surprise.  Luckily I don't have any stock in that company.

 

 
From: Pat (Pat012)Aug-16 9:19 AM 
To: Ritabert DelphiPlus Member Icon  (3 of 9) 
 103996.3 in reply to 103996.2 

It matters little to the BOD, they never do what the majority of stockholders want.  The fix the voting so that it always goes the way the board members want it to go.

regards,
 

Pat  cool

 

Harry Truman

Once a government is committed to the principle of silencing the voice of opposition, it has only one way to go, and that is down the path of increasingly repressive measures, until it becomes a source of terror to all its citizens and creates a country where everyone lives in fear."
[Special Message to the Congress on the Internal Security of the United States, August 8, 1950]

Patriotism is supporting your country all the time, and your government when it deserves it - Samuel Clemens

“The mind of a bigot is like the pupil of the eye. The more light you shine on it, the more it will contract.”
 
Oliver Wendell Holmes Jr.

Facts do not cease to exist because they are ignored. - Aldous Huxley

 

 
From: Ritabert DelphiPlus Member IconAug-16 9:26 AM 
To: Pat (Pat012)  (4 of 9) 
 103996.4 in reply to 103996.3 

Sounds familiar.  GE's stock took a nosedive yesterday after that story was released.

 

 
From: Pat (Pat012)Aug-16 10:19 AM 
To: Ritabert DelphiPlus Member Icon  (5 of 9) 
 103996.5 in reply to 103996.4 

Well, the timing couldn't be better, a lot of stocks are going to take a nosedive.  OleTrumpetboy's chicken tariffs are coming home to roost.

regards,

Pat  cool

 

Harry Truman

Once a government is committed to the principle of silencing the voice of opposition, it has only one way to go, and that is down the path of increasingly repressive measures, until it becomes a source of terror to all its citizens and creates a country where everyone lives in fear."
[Special Message to the Congress on the Internal Security of the United States, August 8, 1950]

Patriotism is supporting your country all the time, and your government when it deserves it - Samuel Clemens

“The mind of a bigot is like the pupil of the eye. The more light you shine on it, the more it will contract.”
 
Oliver Wendell Holmes Jr.

Facts do not cease to exist because they are ignored. - Aldous Huxley

 

 
From: Ritabert DelphiPlus Member IconAug-16 11:39 AM 
To: Pat (Pat012)  (6 of 9) 
 103996.6 in reply to 103996.5 

Yep.  He put off some of them until December so it won't impact Christmas spending.  Therefore he knows his policies are hurting consumers.  What a "maroon".

 

 
From: Pat (Pat012)Aug-16 11:53 AM 
To: Ritabert DelphiPlus Member Icon  (7 of 9) 
 103996.7 in reply to 103996.6 

He may have said Christmas, but he was thinking Election Day, not Christmas.

regards,

Pat  cool

 

Harry Truman

Once a government is committed to the principle of silencing the voice of opposition, it has only one way to go, and that is down the path of increasingly repressive measures, until it becomes a source of terror to all its citizens and creates a country where everyone lives in fear."
[Special Message to the Congress on the Internal Security of the United States, August 8, 1950]

Patriotism is supporting your country all the time, and your government when it deserves it - Samuel Clemens

“The mind of a bigot is like the pupil of the eye. The more light you shine on it, the more it will contract.”
 
Oliver Wendell Holmes Jr.

Facts do not cease to exist because they are ignored. - Aldous Huxley

 

 
From: Ritabert DelphiPlus Member IconAug-16 11:57 AM 
To: Pat (Pat012)  (8 of 9) 
 103996.8 in reply to 103996.7 

Yep.

 

 
From: Pat (Pat012)Aug-16 12:06 PM 
To: Ritabert DelphiPlus Member Icon  (9 of 9) 
 103996.9 in reply to 103996.8 

cool

Pat  cool

 

Harry Truman

Once a government is committed to the principle of silencing the voice of opposition, it has only one way to go, and that is down the path of increasingly repressive measures, until it becomes a source of terror to all its citizens and creates a country where everyone lives in fear."
[Special Message to the Congress on the Internal Security of the United States, August 8, 1950]

Patriotism is supporting your country all the time, and your government when it deserves it - Samuel Clemens

“The mind of a bigot is like the pupil of the eye. The more light you shine on it, the more it will contract.”
 
Oliver Wendell Holmes Jr.

Facts do not cease to exist because they are ignored. - Aldous Huxley

 

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