Ben Bernanke: Why We Didn't Bail Lehman Out

For all the minds of Treasury and the accounting standards committee. Why are the laws so lax regarding asset buying of derivatives. Nick Leeson of Barings BAnk should have been a wake up call for all. The Germans were saying repeatedly there is no transparency? What that probably meant was "how do you account for an asset that is paid for up to 10% value (to buy into a futures contract), & where and how do you account for the 90% in a futures contract, that hasn't expired or realised.

Lennam's Borthers, and their manager's what warrants their salary packages including bonuses and family homes sold to their spouses. They should who be jailed for committing fraud & attempting to "off load" company assets, including director's assets away from potential creditors or liquidators to their wives for a reported $152 for a $10m Florida house?

Ask the account standards committee now what is their position on futures and short selling contracts, they probably couldn't give you a straight answer.

I say, the regulators are Piss weak!

I hope Obama shakes these guys down, regulators loose their positions due to inefficiency's and liquidator's, administrators are put through boot camp to toughen up, obliviously the old guard did little even after Baring Bank.

nick tsirigotis 3:32AM January 26, 2009