SEC To Banks: Who Else Used Repo 105? Umm... What The Heck Is A Repo 105? Why It's Wall Street's Latest Fraud.

I guess our regulatory agencies do have one last gasp of virtue left in them. Too bad the FDA doesn't.

We are all becoming fraud experts as Wall Street's many scams unfold. I'm sure we would all demand Wall Streeters have their citizenship revoked if we knew the extend of its fraud. I have already seen enough to wish them on some other country.

Over the past few weeks we have been deluged with this Repo 105 gibberish. We have shown Paddy's videos before on here. He always does an excellent job explaining what are seemingly complex topic which are really not complex at all. They simply use a vernacular most don't see every day. This is a nice explanation of what Lehman and other banks were involved in with their Enron-type fraudulent accounting. Really no surprise since Enron, in the form that collapsed, was really a Wall Street creation. There are also many sources tying Enron to the Clinton Administration. Specifically Al Gore. Something that has been hushed since the very beginning. Really with the latest Frankenstein creations of Wall Street we are simply repeating the same ridiculous schemes that have been playing out for the last fifteen or so years. Here's the Propublica SEC story to go along with the Repo 105 explanation below.