• Jim Costa

Jim’s Rant For The Day. The Big Short, Again.

For those of you who have not seen the movie The Big Short, it is about three unrelated Hedge Fund managers who saw the Mortgage Backed Security market crash coming in 2007 – 2008 that basically destroyed our economy and brought on the Bailouts and where we are today, facing another collapse.

The movie details how those managers bet the bankers that a collapse would occur, and in so betting, made fortunes for themselves when it did collapse.

Now enter the Big Short Part II (live and on a Wall Street near you).

Remember Harry Markopolos? He was the analyst that showed the world that Bernie Madoff, the believed genius of Wall Street Hedge Funds, was really running a massive Ponzi scheme. To my knowledge Markopolos made no money on his shocking research, except perhaps a book deal after.

Well, it now appears that Markopolos is a fast learner. He has now exposed GE as on the verge of bankruptcy even though their audited financial reports say otherwise. But this time he works privately for an undisclosed hedge fund. When asked about that relationship he said he "needed to earn a living."

He stated he will get a cut of the profits that result from his research. This can only mean that the Hedge Fund has already purchased bets with the bankers that GE will collapse – thus the Big Short II, live. How long does Markopolos give GE to collapse? He says within two months.

This is just one more straw to break the camel's back.

See: Madoff whistleblower Harry Markopolos details fraud allegations against General Electric

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Dead McAfee makes a lot of very cryptic posts. This one is a side by side of Abe, JFK, and Ivanka. One seems out of place but that my not last forever. I think I got this one decoded or at least