theVoiceofReason.com
Mar 17, 2008
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Bear Stearns, Enron and Titanic Open Mic Special

Fraud Fracas

Today it's open mic here at theVoiceofReason.com...

Kicking off the with the hilarious boys and girls from Bear Stearns...

These are genuine quotes from their websites/advertising of the day, the urls are given.

From the Bear Stearns website:

Bullshit Stearns - Spoof Of Bear Stearns logo"The Company Maintains a Highly Liquid Balance Sheet
As of November 30, 2007 the Company had $395.4 billion in assets, of which over 90% consisted of highly liquid assets such as cash, securities inventory and collateralized receivables. As of November 30, 2007 the Company had $11.8 billion of equity, $262.5 million of trust preferred and $68.2 billion of long-term borrowings for a total capital base of $80.3 billion. The portion of the Company's balance sheet that is funded by long-term borrowings has increased considerably over the last six years, thereby materially strengthening the Company's liquidity profile and extending the overall maturity of its unsecured debt."

http://www.bearstearns.com/sitewide/ resources/bssc/safety_cust_assets/index.htm

(Bear Stearns failed after customers tried to get their money out...)

 

From the Enron website:

Fucked - Spoof of Enron logo"Enron is the world's leading energy company, and the skills and resources we used to transform the energy industry are proving to be equally valuable in other businesses."

http://web.archive.org/web/ 20010118211600/http://www.enron.com/

(Enron collapsed after its figures were proved to have been faked at a number of its businesses over a number of years.)

 

International Mercantile Marine Lines:

Titanic logoALL OUR STEAMERS HAVE WIRELESS TELEGRAPH AND SUBMARINE SIGNALS. THE LARGEST AND FINEST STEAMERS IN THE WORLD.

http://www.encyclopedia-titanica.org/item/1683/

(!)

 

 
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