RIP BOOMERS

Wizard who called Madoff ponzi scheme now says boomer stock GE a fraud

sauce:
cnbc.com/2019/08/15/ge-shares-drop-after-madoff-whistleblower-harry-markopolos-raises-red-flags-on-its-accounting.html
cnbc.com/2019/08/15/heres-the-full-report-calling-ge-a-bigger-fraud-than-enron.html

Attached: 1200px-General_Electric_logo.svg.png (1200x1200, 141K)

Other urls found in this thread:

youtu.be/TR3Vdo5etCQ
twitter.com/NSFWRedditGif

I’ve been surprised they stayed somewhat solvent for a while now. They, Macy’s, Sears, all those boomer companies can go to hell. Also fuck banks. Almost as bad as shitty ass fad companies that should’ve never gone public. Fitbit, gopro and all those whack ass zoomer stocks

ripped right from the report
>"We expect to soon see loss ratios of 750% to 1,000% or more on some of GE’s reinsurance agreements. "
Suddenly my 90% loss from crypto doesn't seem so bad anymore
Take that boomers!

Attached: 1558389375084s.jpg (250x250, 9K)

I remember someone on this board shilling ge stock late last year saying to buy it because it was going to go to $30 kek

It could still happen if the company goes all in on Link and litecoin

Imagine selling washing machines and being a fraud. Is that money laundering?

Attached: rotom-wash.jpg (900x705, 107K)

>They, Macy’s, Sears, all those boomer companies can go to hell. Also fuck banks.

Banks will be the last to collapse. They will sacrifice everyone and every company before going down.

SMG is the dumbest thread on biz

>Sears

Imagine being Amazon, before Amazon, but going out of business cause you're too boomer to innovate.

>Banks will be the last to collapse. They will sacrifice everyone and every company before going down.

Also, dubs, so it's true.

Attached: 800px-Sears_Magnolia_Catalog_Image.jpg (800x1088, 331K)

check'd
banks will find a way to corner the market on something we all need

So GE is basically like all crypto shitcoins?

He's not wrong, the SEC has investigated GE for it's unusual method of reporting. They only recently started to use GAAP for their earnings reporting and it's been downhill since.

They're like Tron.

Nah, they make things, planes, generators, medical equipment.

Crypto makes pyramid dreams a d nightmares. Depends when your in or out

>the $38 Billion in fraud we’ve come across is merely the tip of the iceberg

>This is my accounting fraud team’s ninth insurance fraud case in the past nine years and it’s the biggest, bigger than Enron and WorldCom combined

>GE utilizes many of the same accounting tricks as Enron did, so much so that we’ve taken to calling this the GEnron case.”

holy fuck this is huge. I have a friend who works for GE too, she's about to be out of a job.

Attached: kachik.png (401x469, 295K)

Bumping for boomers getting fucked

Good point. GE has real products and real revenues.

Crypto has fucking nothing so far.

Attached: 1519675521973.jpg (680x345, 66K)

KING BOBO

Attached: Markopolos_Harry.jpg (1209x1800, 103K)

My uncle worked so many years in GE and he left around 3 or 4 years ago. Wow I'm glad he did.

-13%

Attached: 1531851608160.jpg (704x691, 105K)

>predicts dubs
>gets dubs
OH FUCK

Puts on GE?

what a fucking Boomer take

-14%

Attached: 1521398936868.jpg (957x621, 71K)

Pretty sure they sold their washing machine brand to some chinese company. Most of those GE appliances aren't made or distributed by GE these days.

Don't be so smug. A company committing fraud if all this winds up being true is equivalent to an exchange exit scamming with their shitcoin.

GENERAL ELECTRINECTTTTTTT

Attached: comfy.jpg (474x638, 43K)

It DOESN'T MATTER that they sell real products
The issue is that they HID THEIR LOSSES and DEBT in another company to make it "disappear", literally from the Enron playbook
The only problem is that debt does not "disappear", it simply gets moved from their books to another company's books but GE is still on the hook for their own debts and not the underlying company.
In traditional boomer fashion it looks like they hid $9 billion in a company called Baker Hughes and the rest in other "subsidiaries"

That picture is so wholesome and calm
Makes me believe for a brief second that the market isn’t collectively shitting the bed
Got anymore?

So, any company with ANY subsidiaries can pull this Jewish trick? How hasn’t this shit collapsed since last Wednesday?

he'll yeah borther

Attached: 1565635137199.png (600x606, 1.04M)

DELETE THIS RIGHT NOW.

Oh shit, still remembering my boomer uncle telling me I should go put in an application at Baker Hughes years ago.

Boomers not even once

I wish I could go back and disregard every piece of advice boomers gave me for the last decade.

Mark is a fucking Autistic Savant. He doesn’t make mistakes. Remember that.

They all do it. It's like the "too big to fail" meme, if everyone is in on it, then no one is liable.

All of their retirement savings are about to get vaporized

Attached: 1549405566336.png (968x634, 307K)

No, value autists will drive up the price in the short term looking for "deals"

Would you put a PUT on GE for January 2020 or go for short term? I think one more follow-up article will tank the price by another dollar. Let's make a few thousand bucks, frens.

2020
Short-term value autists are already buying the stock. Even today people are reacting to the report with disbelief and are now buying the stock and publicly commenting about it. There's probably going to be a dead cat bounce.

Mark says the previous lifespan of a company after fraud exposure is 4 months.

Idk about jan but I think they'll do the same thing they did with enron-sue critics and say "everythings fine"-pumping the stock while dumping their own shares

This news makes me so happy. Unironically this is what motivates me to continue pursuing a career in forensic accounting. Scumbag fucks.

The CEO just bought $2million more
Guy's in balls deep now

Attached: fdcnetdrhetr.jpg (180x250, 6K)

You guys are so dystopian. Thank god i took a break from this place

shouda bought the chainlink sir, there's still time

it's not fair bros

>what's a pump and dump?

When she loses her job give her $10/hr for unlimited succ

Found the score

youtu.be/TR3Vdo5etCQ

>gopro
Played a pivotal role in the race war.

Time to short boys