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Stacy Summary:  I know it’s been linked to already, but for those who missed it; here is Dylan Rattigan on the Repo 105 / Lehman story.

Stacy Summary: Re: the banking raj, I believe the banking occupation around the world operates in a very British Raj like system where the local big men (and women) are rewarded handsomely to keep down the local peasants. So, as per @Danny’s link, NAMA chairman receives 70% pay increase while the peasant workers are forced to eat austerity. For next Thursday’s Keiser Report, we will be interviewing David McWilliams so if you have any questions for him, please put them in comments below. If we use your question, we will use your screen name unless you note otherwise.

Stacy Summary: Guest is Birgitta Jonsdottir!

Stacy Summary:  I wonder how much Valukas was paid to come up with the same information that Keiser provided to Huffington Post for free? First, here is Max’s article from July 2008:

• JULY 9, 2008:  Peek-a-boo accounting and the crash of Wall St financial stocks (Max Keiser / Huffington Post)

It’s peek-a-boo accounting where debts are removed from the balance sheet during the period when disclosure is needed (for quarterly earnings reports) and than the debt is temporarily parked back onto the company’s balance sheet, or parked on another bank’s balance sheet with an implied reciprocal agreement. (Enron had hundreds of shell companies that served as ‘debt parking lots’ to avoid having to include any liabilities on their quarterly earnings statement).

Lehman Brothers looks like they are trying to out-Enron Enron in the peek-a-boo accounting department.

And these are the findings on Lehman’s accounting ‘gimmicks’ in March 2010: