it's open mic here at theVoiceofReason.com...
off the with the hilarious boys and girls from Bear Stearns...
are genuine quotes from their websites/advertising of the
day, the urls are given.
the Bear Stearns website:
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."
Stearns failed after customers tried to get their money
the Enron website:
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."
collapsed after its figures were proved to have been faked
at a number of its businesses over a number of years.)
Mercantile Marine Lines:
OUR STEAMERS HAVE WIRELESS TELEGRAPH AND SUBMARINE SIGNALS.
THE LARGEST AND FINEST STEAMERS IN THE WORLD.