Eugene David
...The One-Minute Pundit

Wednesday, June 18, 2008


Morgan Stanley suspended a credit trader and disclosed a $120 million ``negative adjustment'' related to erroneous valuations of his positions, Chief Financial Officer Colm Kelleher said.

We frown at the leeches of Wall Street because they can so easily cook the books. They too are afflicted with hubris. With such shenanigans becoming a more frequent thing we wonder when one of their parasitic squad causes a depression. Given the ease with which they cooked the housing market we would best be advised to give the notion serious consideration, however dubious it is.

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