Must See CNBC Bailout Videos: Jim Chanos Says We Will See Orange Jumpsuits Soon. Warning To Richard Fuld And Joe Cassano

Mar 5, 2009 at 7:34 PM
DailyBail in James Chanos tells the truth, Orange Jumpusits Are On The Way For Dick Fuld and Joe Cassano, lehman brothers executives committed fraud, mark to market

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.

Article originally appeared on The Daily Bail (http://dailybail.com/).