Rotten U.S. Accounting Principles

U.S. Bank Stress Test = FASB Accounting Chaos of highest Fraud

U.S. Congress forced FASB (Financial Accounting Standard Board) to let apply for their broken Wall Street Banking systems, new "valuations" for Junk-Papers at figures, high above true and fair market value.

Therefore, U.S. Bank system under control of Obama, Hillary, Geithner, Bernanke is the most criminal invention of modern times in our world - and not the ones of Switzerland or Luxembourg.

All the profits in the first Quarter 2009 of the huge U.S. Banks inclusive positive STRESS TESTS are due to fraudulent ACCOUNTING schemes. But also due to application of extortionate interest rates on credits and criminal margins applied by U.S. and other banks, to the charge of companies, pension funds, old age and investments funds etc. - also on traffic of securities and raw stuffs.

The profits of Bank of America, JP Morgan, Wells Fargo, Goldman Sachs, Merrill Lynch, Citigroup and all the rest are basing alone on those accounting tricks and exorbitant fees - and the whole Murdoch Media of the world shout happily: "We have overcome the greatest orthodox Wall Street crimes of all times - let's make profits again like in the past, when the whole world outside USA was taken for stupid before the real breakdown and collapse---- Yes, we can"

FASB 1980

In former times, companies showed as little profits as ever possible. Assets were valued very carefully. Participations and securities stated at lowest possible price. Debtors, real estate, machinery depreciated with acceleration. Provisions charged to expenses for future risks. CEOs did not want to present and tax some profits, before they became reality.

FASB 1999

Now Friedman and GW Bush, on order of Popper, Greenspan, Ronald and Margaret, had installed the principle of "Shareholder value" and mega-mergers. And all of a sudden, the contrary of 1980 was done and the unreal profits increased to the max. And high Taxes were prevented by evasion-models over Swiss, Luxembourg, Singapore, Caribbean Islands tax haven mechanics.

FASB 2009

On the order of Geithner, Summers, Bernanke and U.S. congress, Banks of Wall Street, all banks in the USA present Balance sheets, where securities like ABS, CDO, CDS etc are shown at a "value" of 1000 Dollars when the true market value should be zero or 69 Dollars. In addition: No provisions at all on future risks. Therefore: Quarterly profits of 2 and a half billion Dollars when having no depreciation on rotten assets and State rescue billions booked as real profit of the banks.

The total Loss for all banks on Trash Papers in the USA and outside may well exceed in total 100 trillions of Dollars. Would this correction be recorded at once, the collapse of finance business would be a fact.

Result of present times Accounting Chaos of highest Fraud

It is very easy to understand. USA have no banks anymore but fraud devices, when Share capital, the equity of the company, is shown as 10 billion Dollars - instead of an indebtedness von 80 billion Dollars and bankruptcy. And the first quarterly profit of 2500 million Dollars at March 31, 2009, should have been a one-time loss of 55 billion, if all assets would be re-stated correctly at present market values - at once.

So, we have banks governed by dull officials of State. Result: The figures at banks, stock exchanges and insurance business don't give anymore any truth on the real State of affairs in financing, industry, services, insurance, re-insurance, hedge funds, investment funds, old age insurance.

All has become one big fraud - and Obama, Geithner, Trichet, Bernanke, Sarkozy, Berlusconi, Merkel, Steinbrueck, 7 Dwarfs of Berne, all Dynamite Prize Holders, all "Scientists", all theorists in economics in all universities on this globe - and all the rest of Governments and Parliaments have exactly 2 chances:

1. Either they understand nothing of evaluation, stress tests, accounting, are completely dull, blind in accounting and economics. In this case, they should be shot in the desert immediately.

2.  Or they understand exactly what is being done in the year 2009 in economics and banking. In this case, they are criminals, crooks, stupids and they should be shot in the desert immediately.

Conclusion

Under these conditions, governments and banking controls and accounting are of zero value, Stress tests are State Fraud, a pill to tranquilize folks in and outside USA.

Such governments and congresses have no right of existence anymore.

All governments and parliaments of the world destructing democracies, human rights, justice and the rest-wealth of folks on Earth should be shot to the moon.

Well, what is written here, is not the end of humanity, but for sure the end of capitalism, of globalisation, of finance business and of banking and Stock Exchanges.

The "Values" shown for Stock Exchanges, world-wide on a daily basis, are pure Escapism and Fraud, throwing sand in the eyes of own folks and investors. Wall Street started together with City of London and Bahnhofstrasse this craziness, on basis of ridiculous FASB and other fraudulent accounting rules in other nations.

And today, Obama and Brown governments, the new Axe of Evil, give the world the rest.

We are surrounded by bandits of State and Finance, and nobody has the courage of telling us, what nowadays is the real State of affairs.