The Lehman Postmortem: Zerohedge Breaks it Off

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Zerohedge is carrying Tyler Durden’s (the Brad Pitt character in Fight Club) remarkable analysis of the Lehman Examiner Bankruptcy Report. Some of the highlights of his summary include:

  • Lehman accountants falsified its ledgers in ways similar to Enronesque “Mark to Market” methodology.
  • In addition to looking the other way with Madoff Securities, the SEC turned a blind eye to Lehman’s shenanigans.
  • Taking risky positions in speculation on junk “leveraged buyout loan positions.”
  • And thanks to the corporate veil, and compliant mainstream news media, the heat is off.

So, to recap, FFFFFFFFFFUUUUUUUUUUUUUUUU

Presenting The Lehman Bankruptcy Examiner Report | zero hedge.

CIA + LSD + France = Mal Jour

“So there were drugs in the food!”

In 1951, a quiet, picturesque village in southern France was suddenly and mysteriously struck down with mass insanity and hallucinations. At least five people died, dozens were interned in asylums and hundreds afflicted.

For decades it was assumed that the local bread had been unwittingly poisoned with a psychedelic mould. Now, however, an American investigative journalist has uncovered evidence suggesting the CIA peppered local food with the hallucinogenic drug LSD as part of a mind control experiment at the height of the Cold War.

via French bread spiked with LSD in CIA experiment – Telegraph.

Dude, Where’s My 401(k)?

If you’re wondering where your retirement money went, we’ve found a few clues.

Indeed, last year’s wealth wasteland has become a billionaire bonanza. Most of the richest people on the planet have seen their fortunes soar in the past year.

And so, it appears, that this latest stampede/transfer of wealth is almost complete.

via worlds-billionaires-2010: Personal Finance News from Yahoo! Finance.

Icelanders Decline Debt Slavery

This is bad news for Greece and Ireland. And it may monkey with currency markets.

Voters in Iceland have overwhelmingly rejected proposals to pay the UK and the Netherlands in the wake of collapse of the Icesave bank.

With a third of results counted, 93% of voters said “No” in a referendum.

The British and Dutch governments want reimbursement for the 3.8bn euros (£3.4bn; $5.2bn) they paid out in compensation to customers in 2008.

via BBC News – Iceland rejects plan to repay Icesave debts.