« Must See CNBC Bailout Videos: Jim Chanos Says We Will See Orange Jumpsuits Soon. Warning To Richard Fuld And Joe Cassano »
Hedge fund manager James Chanos from Kynikos Associates was the guest host on Squawk Box on CNBC yestereday morning. Both videos are excellent viewing for those interested in the truth about the banks, mark-to market accounting, and financial executives going to federal prison.
In the second clip, Chanos touches upon a point I've been making regarding MTM accounting. Simply, that no one uses MTM accounting for the majority of their assets, and so a suspension of regulatory capital requirements would accomplish the same goal of forbearance, but in a much cleaner way.
Chanos has been right about this crisis from day one. Apparently he has been involved in official discussions of late pertaining to the criminality of certain executives. Without naming individuals, he mentions Lehman Brothers and the $150 billion discrepancy that appeared on their books after declaring bankruptcy. He seems quite certain there was fraud and that executives will be wearing orange jumpsuits soon. That's his phrase, not mine. He also mentions AIG and says that we will see executives sent to prison for their role in that collapse.
How ya doing, Dick Fuld and Joe Cassano. We hope that investigators have already seized the passports of both of these individuals.
The 2nd video from Chanos is after the jump.
DailyBail
updated with 2nd video.
Thursday, March 5, 2009 at 7:34PM
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Reader Comments (11)
Pardon me if I sound skeptical.
i doubt if CNBC has found religion.
but Chanos has let forth some very valuable information
I noticed the same thing. It was as though you could tell he wanted to mention Paulson. I often wonder if he will escape unscathed or will eventually face prosecution. IF things are still really bad at this time next year, then who knows maybe he could start facing some heat for the role he played.
http://www.marketskeptics.com/
Very clear and precise explanation for those still without a clue.
I would love to see Mozilo, Cassano, and Fuld and the other crooks in orange jumpsuits. And most importantly the markets will NOT recover untill we have these criminals in handcuffs. The markets will bottom and start rallying as soon as we show these criminals getting arrested on TV. I remember we put a great bottom when we started arresting Enron and Worldcom executives and the markets started rallying. Lets arrest Madooff, Cassano, Mozilo NOW! NOW!!
http://www.time.com/time/specials/packages/article/0,28804,1877351_1877350,00.html
Thanks for posting the URL to the Times list. Oh, that is a good list! They even included Hank Paulson - but for the wrong reasons IMHO. Angelo looks like a living bobblehead.
A reader sent me a message saying when he attempts to watch videos on the site it takes him to a login page.
Has anyone else had this kind of problem when watching videos here?
If so, please speak up so that I can work to solve it.
Thanks.