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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: ild who wrote (43713)	10/18/2005 12:42:40 PM
From: ild	Read Replies (1) of 110194

Date: Tue Oct 18 2005 12:24 trotsky (Iraq's referendum) ID#248269: Copyright © 2002 trotsky/Kitco Inc. All rights reserved as election fraud goes, this one was pretty clumsy, with all its "99% yes" votes. kitcomm.com Date: Tue Oct 18 2005 11:37 trotsky (@BAWAG's loan to Refco chief Bennett) ID#248269: Copyright © 2002 trotsky/Kitco Inc. All rights reserved since i can't believe that BAWAG's loan officers are as abjectly incompetent as their 'explanations' for this loan that went sour within one day of the money being wired imply, i must conclude that one bunch of criminals was trying to help another. if Austria's trade union umbrella organization which is BAWAG's biggest shareholder allows the current board to remain in its job for even one more second, it is either in on whatever fraud is being committed, or it is even more incompetent and deserves every unpleasant arse-buggering minute it is getting out of this. the board risks 10% of the bank's entire capital in a split-second decision on lending to an obviously collapsing business entity's corrupt and criminal CEO? this is either the most stupid lending decision in the annals of banking or blatant fraud. whichever the case may be, the impact has been magnified by the sheer chutzpa and ignorance revealed in the board's excuses. it is quite fitting that BAWAG ended up as one of the biggest shareholders in Refco's carcass - that will serve as a good reminder for many shareholder meetings to come.

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