The Unsinkable brian cork™

Brian Patrick Cork is living the Authentic Life

Brian Cork on those Wall Street Rascals

September16

So…

Last year Investment banks like Lehman Brothers and Goldman Sachs reported record earnings and executive bonuses that were off the charts.

Today Goldman and Lehman are history (and Merrill Lynch is tottering on the brink).

Much of this is, obviously, driven by the mortgage/ banking (scam) crisis.

This is going to go down in history as one of the biggest jaw-dropping shennanigans in our country’s ironic history.

To wit…

The “Feds” have signaled to corporate insiders/1 (especially in banking) that they get one opportunity to REALLY come clean over balance sheets.

All the press we are seeing is a signal that Boards will soon be enforcing the practice of nuking 10-K’s and 10-Q’s around massive write downs.  In fact, they will over compensate and make the balance sheets worse than they need to be.  This will, in turn, enable Wall Street to take banking stocks to new lows.  Then of course, traders will take positions in those stocks during after hours trading – and, drive them back up with nonsensical news on (for example) MSNBC.

This makes as much sense as Apple stock derailing on Mortgage industry news – right?

I am not angry or bitter.  I am insightful.

Just watch.

Its what you don’t see that will kill you.  But, if you are prepared, you can make informed decisions.

Peace be to my Brothers and Sisters.

Brian Patrick Cork

_________________________

1/ This means selected people they went to school with.

One Comment to

“Brian Cork on those Wall Street Rascals”

  1. Avatar June 11th, 2009 at 5:36 am tip of the iceBurg « The Unsinkable brian cork Says:

    […] And, I told you back in September when I wrote: federal Pirates and Brian Cork on those Wall Street Rascals. […]


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"What am I looking at?", you might wonder.

Lots of stuff.

Meanwhile, here, I discuss events, people and things in our world - and, my (hardly simplistic, albeit inarticulate) views around them.

You'll also learn things about, well, things, like people you need to know about, and information about companies you can't find anywhere else.

So, while I harangue the public in my not so gentle way, you will discover that I am fascinated by all things arcane, curious about those whom appear religious, love music, dabble in politics, loathe the media, value education, still think I am an athlete, and might offer a recipe.

All the while, striving mightily, and daily, to remain a prudent and optimistic gentleman - and, authentic.

brian cork by John Campbell





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