/biz/ - Business & Finance » Thread #935752

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Scandal thread.

Anonymous ID:V+Xzy8bA Sat 24 Oct 2015 10:27:25 No.935752 View Reply Report Delete

Quoted By: >>935768

Let's talk about the big financial scandals, Enron, Madoff, the lot.

What's your favourite? Did any of them effect you?

Gotta say, Bernie was the best Ponzi I've ever seen.

Anonymous

Anonymous ID:4Eky4YTj Sat 24 Oct 2015 10:54:42 No.935768 Report Delete

Quoted By:

>>935752

Every major corp in the world is involved in one form of fraud/scam/bribery/blackmail or another

its practically impossible to expose them all without expecting a global economic apocalypse..

those who do get caught though just got unlucky

Anonymous

Anonymous ID:RCjfFfJb Sat 24 Oct 2015 11:00:39 No.935774 Report Delete

Quoted By: >>935879 >>936560 >>938954

I was still a kid when Enron went down, but reading the story on how it all happened was interesting. The financial crisis is crazier though, essentially after a point everyone was trading garbage and getting rich off it.

Anonymous

Anonymous ID:8KAZ1zCJ Sat 24 Oct 2015 13:42:58 No.935879 Report Delete

Quoted By: >>935900 >>938954

>>935774
same, I just got my CPA (Im 24) and I dont remember Enron personally but Ive watched many documentaries on it.
It blows my mind how a company so huge could get away with something for so long.

Anonymous

Anonymous ID:V+Xzy8bA Sat 24 Oct 2015 14:03:38 No.935900 Report Delete

Quoted By: >>938954

>>935879
>It blows my mind how a company so huge could get away with something for so long.
In a way, they probably got away with it precisely because they were so huge.

Anonymous

Anonymous ID:V+Xzy8bA Sun 25 Oct 2015 07:59:05 No.936560 Report Delete

Quoted By: >>936639

>>935774
>The financial crisis is crazier though, essentially after a point everyone was trading garbage and getting rich off it.
Are there any good documentaries on that?

Anonymous

Anonymous ID:ABCBOeqt Sun 25 Oct 2015 10:47:06 No.936639 Report Delete

Quoted By: >>937903

>>936560
https://www.youtube.com/watch?v=VQzEWeGJLP0

At one point, a guy selling handmade junk in India became a derivatives trader through nepotism and gets called on by the media to be a commentator.

Anonymous

Anonymous ID:ZOrOHTQK Sun 25 Oct 2015 11:26:12 No.936677 Report Delete

Quoted By:

Worked at a fund during 2008/09 meltdown. Was actually short LEH for some of it so that's gonna be my all time favorite. They had booked some of their liabilities (DEBT) at fair value. As people got more concerned about them their debt sold off, meaning the fair value of their liabilities decreased, increasing their equity (Equity = Assets - Liabilities) which was booked as INCOME lol.

Anonymous

Anonymous ID:V+Xzy8bA Mon 26 Oct 2015 16:51:30 No.937903 Report Delete

Quoted By:

>>936639
>derivatives trader through nepotism and gets called on by the media to be a commentator.
I don't even.

Anonymous

Anonymous ID:Q6nb7SUL Mon 26 Oct 2015 17:15:26 No.937930 Report Delete

Quoted By: >>938919

>make money selling shitty mortgage backed securities
>sell CDSes on same MBSes
>create synthetic MBSes from CDSes

easily 08

Anonymous

Anonymous ID:V+Xzy8bA Tue 27 Oct 2015 15:46:14 No.938919 Report Delete

Quoted By:

>>937930
>easily 08
'Merica.

Anonymous

Anonymous ID:NqxoWG19 Tue 27 Oct 2015 16:22:36 No.938954 Report Delete

Quoted By:

>>935900
>>935879
>>935774
Petrobras.

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