Posted on 07/12/2012 5:35:26 PM PDT by Attention Surplus Disorder
YOU COULDN'T WRITE THIS AS FICTION POSTED BY ANN BARNHARDT - JULY 12, AD 2012 11:01 AM MST So, just when you thought that the NFA's criminal failure in auditing oversight and due diligence couldn't get any worse, we find out that PFG's accountant/auditor was some gal doing business out of her house in a lower-middle class residential neighborhood on the west side of Chicago.
Here is the Chicago Tribune story.
http://articles.chicagotribune.com/2012-07-12/business/sns-rt-us-broker-pfgbest-auditorbre86b02n-20120711_1_attempt-on-monday-morning-auditor-futures-broker
Behold the global headquarters of Veraja-Snelling Company, which is just some gal named Jeannie Veraja-Snelling working out of her house in Glendale Heights, Illinois.
(Excerpt) Read more at Barnhardt.biz ...
She is hardcore. Check her vids on youtube.
You don’t understand some FReepers will be along soon to explain to you that these people were forced to steal by restrictive and excess government regulations and the pressure it caused them. It’s not their fault they stole. (sarc)
Thoroughly familar w/Ann Barnhardt. The story here is that a one-man (woman) sole-proprietorship accounting “firm” operating out of a suburban home is the auditor for an international corporation with offices in Singapore generating nominally THOUSANDS of transactions a week, if not a day?
I love Barnhardt. I remember her warning last November to Get Out. She is one of a kind, for sure.
I like this post of Ann’s:
People are emailing asking what firm I recommend.
NONE.
GET OUT.
GET OUT.
GET OUT.
GET OUT.
GET OUT.
GET OUT.
GET OUT.
GET OUT.
GET OUT.
The ENTIRE SYSTEM is totally, completely corrupt and therefore NO FIRM IS SAFE. Don’t be stupid. Don’t be obtuse. Snap yourself out of the Stockholm Syndrome that you are clearly stuck in. Get ALL MONEY out of the ENTIRE FINANCIAL SYSTEM, including stocks, bonds, retirement accounts, futures, EVERYTHING.
But what about . . .
What part of EVERYTHING are you not comprehending?
One. More. Time.
If you can’t touch it, if it isn’t physically on your property such that you can stand in front of it with an assault rifle and PHYSICALLY defend it, you don’t own it, and it could be confiscated/stolen from you at any time, if it ever actually existed at all.
As far as the last part of her post? I’ve been saying something similar for years. I’ve said it to a Air Force Colonel once. He didn’t particularly like it because it went against the “party line”. But he did me the courtesy of listening anyway, and I respected him tremendously for it.
Thanks for posting! HOORAY Ann!
Bookmark
Sigh.
It isn’t the ignorance of the public that pissed me off any more. Most people don’t deal with this stuff. Those of us in the financial markets do, however, and those of the public who aren’t wheeling large amounts of money back and forth through the markets on a daily or even weekly basis don’t “need” to know the details of stuff like this.
But when I explain to people that this money was “segregated” money, that it was supposed to be OUT OF REACH of the broker/dealer for covering their own private liabilities, and people still parrot this WSJ/CATO nonsense... then I get pissed off. There’s a clear, bright line of law/regulation that was violated here. The PFG was supposedly audited when MF Global went down, and the NFA was supposed to have examined balance sheets before giving a clean bill of health, Clearly, whoever was doing the audit last time was too busy watching porn on their computer to notice that the money wasn’t in the bank accounts.
But as PO’ed as I might get about that, what really, really, really lights me up is when I call into my Congressman/Senator’s office and their staff act as tho this is “no big deal.” The people working for Republicans in Congress are simply so goddamn stump-stupid about this stuff that they don’t know when to get someone smarter on the phone, and/or the elected reps don’t know when to toss out these idiot lawyer/L1/L2/L3 kids they’ve hired and get someone in who knows something about finance into their office so that their office can issue intelligent responses to these situations.
As it is, the GOP just looks either stupid beyond belief, or as if they don’t give a rat’s rear end about this stuff. It is akin to putting a bomb made out of semtex in front of someone who thinks it’s a wheel of cheese and saying “Here, what do you think of this?” and they suggest getting some wine and crackers.
And make no mistake about it: This incident and MFG are smaller explosions that have gone off before a much larger bomb goes off in the financial markets.
If Romney does anything about this, I’ll be amazed. He’s collecting a boatload of money from the financial sector, and he’d put that support into question if came out with any concrete position about taking these clowns (the CFTC, NFA, guilty FCM’s, et al) down.
She’s become the Ann I really like. The old ‘Ann’ can get lost as far as I’m concerned.
When did the “old Ann” become the “new Ann”?
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