Liverpool FC Forum

by **Judge** » Tue Jan 27, 2009 8:53 am

oi you b@stards. waiting till i go offline to slate me :angry:

by **Number 9** » Tue Jan 27, 2009 8:59 am

Judge wrote:oi you b@stards. waiting till i go offline to slate me

by **Judge** » Tue Jan 27, 2009 10:21 am

hey baz, now that misty is offline.....the cat will play

by **Big Niall** » Wed Jan 28, 2009 6:24 pm

It is strange. In Britain and America, the government believe that they should increase spending, borrow and have tax cuts to get the economy going again (albeit with a massive increase in the national debt)

In Ireland, the government thinks that we have to cut our spending and increase taxes as we are now spending more than we make.

Somebody has got it massively wrong but we don't know who yet. Yikes :down:

by **Dundalk** » Tue Feb 10, 2009 11:38 am

Looks like JJB are the next to go....

There are fears for more than 800 jobs as two subsidiaries of leisure retail chain JJB Sports announced their intention to go into administration

The decision affects its fashion and footwear retailer Original Shoe Company, which operates 64 stores, and Qube - a footwear chain with 13 stores.

by **Espionage** » Tue Feb 10, 2009 1:02 pm

Not sure if anyone has heard of this guy Harry Markopolus: [http]http://online.wsj.com/public/resources/documents/MarkopolosTestimony20090203.pdf[/http]
WARNING AROUND 60 PAGES but is a good read

If you are interested in finding out exactly why the financial crisis occurred and why its a long way from being over.

by **Judge** » Tue Feb 10, 2009 1:07 pm

Espionage wrote:Not sure if anyone has heard of this guy Harry Markopolus: this might work
WARNING AROUND 60 PAGES but is a good read

If you are interested in finding out exactly why the financial crisis occurred and why its a long way from being over.

read it later, still reading some of bigmicks posts

by **Espionage** » Tue Feb 10, 2009 1:10 pm

by **Sabre** » Tue Feb 10, 2009 1:11 pm

Espionage, with my too basic economic knowledge, with my limited english, and with my little time, I'm forced to ask you politely to sum up those 60 pages in a paragraph, will you be so kind?

by **Judge** » Tue Feb 10, 2009 1:14 pm

Sabre wrote:Espionage, with my too basic economic knowledge, with my limited english, and with my little time, I'm forced to ask you politely to sum up those 60 pages in a paragraph, will you be so kind?

i can do that for him sabre

everyone has spent too much, and theres no more money in the coffers, so we all suffer

:grinning:

by **Dundalk** » Tue Feb 10, 2009 1:14 pm

Yeah that would be a good idea for all

by **Judge** » Tue Feb 10, 2009 1:16 pm

Dundalk wrote:Yeah that would be a good idea for all

your sentence ? who you talking to dundalk?

by **Dundalk** » Tue Feb 10, 2009 1:23 pm

I was replying to Sabres post

by **Espionage** » Tue Feb 10, 2009 1:30 pm

OK..........

Basically the American Securities and Exchange Commission (SEC) who is the main regulator of the financial markets is completely incompetent. This guy told them that Bernard Madorff (who was charged for perpetrating probably the largest investor fraud by an individual http://en.wikipedia.org/wiki/Bernard_Madoff) was crooked and could prove it by simple deduction. Later he wrote up a few reports and showed it to the SEC and because they either didnt want anything to do with it because their business processes were never designed to find fraudulent dealings and reporting, rather just to write reports about them after the market figured it out already. You didn't need a degree or even have to understand how markets work to get most jobs there. The author describes the situation as having sheep hunt foxes, then they wonder why these people dont get caught until billions of investor money is lost.

How this guy made money was raising money for a investment strategy that couldnt make money and borrowed of say 10 people. He then borrowed from 100 people to pay back the 10 people and stated record profits that never existed. Then borrowed off 1000 people and repeated the process a number of times until they figured it out.

The report is first the story of him trying to get people to listen to him, and why he couldnt just come out and say these things because he would be assassinated. And how it was impossible to stop this guy even though he knew for 8 years what the guy was up to.

Basically Americans are stupid, sometimes....

by **Judge** » Tue Feb 10, 2009 1:56 pm

Dundalk wrote:I was replying to Sabres post

stick to the fit birds zone dundalk

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