RIP BOOMERS

[Anonymous No.15261809]

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

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

[Anonymous No.15261889]

>>15261809
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

[Anonymous No.15261942]

>>15261889
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!

[Anonymous No.15261974]

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

[Anonymous No.15261986]

>>15261974
It could still happen if the company goes all in on Link and litecoin

[Anonymous No.15261996]

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

[Anonymous No.15262011]

>>15261889
>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.

[Anonymous No.15262015]

>>15261974
SMG is the dumbest thread on biz

[Anonymous No.15262055]

>>15262011

>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.

[Anonymous No.15262067]

>>15262055
check'd
banks will find a way to corner the market on something we all need

[Anonymous No.15262094]

>>15261809

So GE is basically like all crypto shitcoins?

[Anonymous No.15262132]

>>15261809
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.

[Anonymous No.15262188]

>>15262094
They're like Tron.

[Anonymous No.15262236]

>>15262094
Nah, they make things, planes, generators, medical equipment.

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

[Anonymous No.15263422]

>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.

[Anonymous No.15263836]

Bumping for boomers getting fucked

[Anonymous No.15263862]

>>15262236

Good point. GE has real products and real revenues.

Crypto has fucking nothing so far.

[Anonymous No.15263883]

>>15261809
KING BOBO

[Anonymous No.15263928]

>>15263422
My uncle worked so many years in GE and he left around 3 or 4 years ago. Wow I'm glad he did.

[Anonymous No.15264419]

-13%

[Anonymous No.15264452]

>>15262055
>predicts dubs
>gets dubs
OH FUCK

[Anonymous No.15264465]

>>15263422
Puts on GE?

[Anonymous No.15264487]

>>15263862
what a fucking Boomer take

[Anonymous No.15264684]

-14%

[Anonymous No.15264700]

>>15261996
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.

[Anonymous No.15264729]

>>15262015
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

[Anonymous No.15264972]

>>15264700
>>15263862
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"

[Anonymous No.15265142]

>>15264729
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?

[Anonymous No.15265156]

>>15264972
So, any company with ANY subsidiaries can pull this Jewish trick? How hasn’t this shit collapsed since last Wednesday?

[Anonymous No.15266089]

>>15264465
he'll yeah borther

[Anonymous No.15266260]

>>15261809
DELETE THIS RIGHT NOW.

[Anonymous No.15266286]

>>15264972
Oh shit, still remembering my boomer uncle telling me I should go put in an application at Baker Hughes years ago.

[Anonymous No.15266325]

>>15266286
Boomers not even once

[Anonymous No.15266413]

>>15266286
I wish I could go back and disregard every piece of advice boomers gave me for the last decade.

[Anonymous No.15266628]

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

[Anonymous No.15266702]

>>15265156

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

[Anonymous No.15266709]

>>15261942
All of their retirement savings are about to get vaporized

[Anonymous No.15267023]

>>15264465
No, value autists will drive up the price in the short term looking for "deals"

[Anonymous No.15267122]

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.

[Anonymous No.15267196]

>>15267122
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.

[Anonymous No.15267249]

>>15267122
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

[Anonymous No.15267262]

>>15261809
This news makes me so happy. Unironically this is what motivates me to continue pursuing a career in forensic accounting. Scumbag fucks.

[Anonymous No.15267363]

>>15267196
The CEO just bought $2million more
Guy's in balls deep now

[Anonymous No.15268086]

>>15261889
>>15262011
You guys are so dystopian. Thank god i took a break from this place

>>15261942
shouda bought the chainlink sir, there's still time

[Anonymous No.15268639]

it's not fair bros

[Anonymous No.15268749]

>>15267363
>what's a pump and dump?

[Anonymous No.15268783]

>>15263422
When she loses her job give her $10/hr for unlimited succ

[Anonymous No.15268949]

>>15261809
Found the score

https://youtu.be/TR3Vdo5etCQ

[Anonymous No.15268976]

>>15261889
>gopro
Played a pivotal role in the race war.

[Anonymous No.15268986]

Time to short boys

[Anonymous No.15268990]

>>15261996
>washing machines
>money laundering

[Anonymous No.15269071]

I sell GE products, they tried to cut off our company over some stupid legal dispute now we buy and resell their products through an intermediary lmao fuck GE also we just had to send back about 150k worth of shit because it was faulty

[Anonymous No.15269147]

>>15269071
What products? I thought they've already long since sold off most of the departments that GE was known for, like appliances

[Anonymous No.15269148]

>>15269071
> i work at lowes

[Anonymous No.15269157]

>>15269147
Oilfield industrial instrumentation

[Anonymous No.15269385]

>>15269071
Woah a whole 150k worth of chink appliances?? Your job must be really lucrative lmao