As mentioned earlier this morning, Dick Fuld thought last week’s report on his firm’s bankruptcy was phenomenal, as it, in Dick’s mind, cleared him of any real wrongdoing because Repo 105 is completely legit. Others have now had a chance to weigh in and the consensus? The whole thing was a real gas. At least one former employee of the firm is finding some much needed comedic relief in this whole thing.
“When I read this, I giggle a little bit. Because $50 billion is a shitload of money, but in the grand scheme of things,” said a former managing director in England—where the accounting gimmick, named Repo 105, was given a legal endorsement that it couldn’t get here, “$50 billion is a drop in the ocean.”
Once Chuckles got a second to catch his breath, he wanted to get one thing straight. He’s not laughing with you, he’s laughing at you.
The former managing director in London said that Repo 105 was an open secret there, if it was a secret at all. “Yeah, yeah, yeah. In Europe, people just generically talk about it. It’s funny, for nonprofessionals, you can try to make it a smoking gun,” the source said, “I’m like, whatever.”
It’s such a NBD that I don’t even know why we’re talking about it. But while we’re on the subject? If you thought Lehman was bad? Maybe you should stick your nose in Goldman’s business. That shit will haunt your dreams. It’s like Saw over there.
“If Valukas went into Goldman Sachs, what do you think the report would look like?” another former exec asked, referring to the court-appointed examiner, Chicago attorney Anton Valukas. “This would be a fairy tale compared to that.”
The Repo Men’s New Lehman Shrug [NYO via DI]
There is innuendo, there is slander, and then there are the uninformed ramblings of certain failed bankers looking for someone else at whom to be angry. This is repulsive and brings a whole new meaning to the term “brain-dead idiot.”
Love,
–LvP
But it’s all right now, in fact, it’s a gas!
But it’s all right, I’m Jumpin’ Jack Flash,
It’s a Gas! Gas! Gas!
Now? Is it OK now? OK.
This guy is a sociopath.
@1 nice
*fairy tale
-guy with attention to detale
@1 has, HAS to be the real LvP.
–On vacay, just checking in, then checking out/teaching an entire Caribbean island how to celebrate St. Patty’s day.
*fairy tale
- guy with attention to detale
The Hooker-Fucking Steamroller Nine might be able to make a comeback if he gets on this thing quickly enough and calls a few news conferences. Maybe a few angry letters to newspapers.
The Steamroller is back, in fighting form. Other blow-hards like Gasparino have more competition…
Haha, Dick. I’m sure you and Bernie Ebbers will be be having a hoot over this when you meet up with him in Oakdale.
@1=Bess
So basically he is admitting to aiding and abetting in a crime – would assume the SEC should be talking to him about this.
Forget Fuld, let’s take this day to remember the most outstanding piece of Irish lore that the internet has ever known. WHUR DA GOLD AT?
http://www.youtube.com/watch?v=nda_OSWeyn8
@12/Merkin:
Holy shit….
@6 no one cares
@12- what is it??? YouTube is firewalled at my office
Dear Mark Klein, M.D. @11 –
Try reading for comprehension next time.
@gherkin tsk, tsk.
if you see the leprechaun say yeeaahahhhhhhh
I have a feeling @14 (“Mr. Original”) is also @6,7,20 on WS2 post as well. If you don’t care, why don’t you go wank off to the fashionista site? At least over time Anal_yst has contributed to higher quality discourse than “no one cares,” “who cares,” etc. You wanna know who cares? I care. And others who read sh*t on this site all day.
If you have no interest in inappropriate office furnishings, zen gardens, zambonis, bleeding anuses, etc. then go to another site and inform them of how much you don’t give a fack about their content.
@ 19- Learn how to spell before commenting again.
@19 in fairness, I believe 14 was saying he doesn’t give a shit that anal_yst is on vacation, not about the post.
@19 – Go die in an AIDS fire in Houston.
Anal_yst?
It could be a crackhead who got a hold of the wrong stuff that told him to get up in the tree and play a leprechaun.
@19 – I bet today is the worst day of your life.
@22 whoa, in Houston, that’s harsh. -not 19
What a dick.
@25 nah I’m just bored.
@22 what is a “Houston”?
“Its naht yer life!”
-Mox
@19, Anal_yst,
What are your thoughts on getting bent? Any insights?
Ladies and gentlemen, @22 has just given us a fine example of authentic frontier gibberish!
Yes, I was curious about that as well. What is an AIDS fire? I have heard of Texas Big AIDS, but never an AIDS fire.
-Curious in Chicago
Texas Big AIDS? That’s good.
@12 check your motives
COULD BE A CRACKHEAD
$50 Billion? Nothing. That’s called just covering the financial products division at our shithole.
-Vikram
Can’t wait to read the thousands of emails between Linklaters and Lehmans the SEC will subpoena. Should pay for my 3rd year, hunting down the smoking gun email.
http://dealbook.blogs.nytimes.com/2010/03/15/another-lehman-accounting-trick-ending-in-105/
@29 The fckin city whr John Arnold lives. You know him, right?