Warning: Use of undefined constant REQUEST_URI - assumed 'REQUEST_URI' (this will throw an Error in a future version of PHP) in C:\xampp\htdocs\mbc1\wp-content\themes\jannah4\functions.php on line 73
Enron Stage Accounting & Insurance coverage Fraud At Normal Electrical (GE)? Was This Predictable? – jj

Enron Stage Accounting & Insurance coverage Fraud At Normal Electrical (GE)? Was This Predictable?

On Thursday, Bernie Madoff whistle blower, Harry Markopolos dropped a bombshell. A 175 page report detailing epic amounts of (alleged) accounting fraud and insurance from one of America’s greatest companies.

Download the GE Fraud Report Here: https://www.gefraud.com/

Markopolos: the fraud growing inside GE was “bigger than Enron and Worldcom combined” https://www.zerohedge.com/news/2019-08-15/markopolos-ge-bankruptcy-waiting-happen

Francine McKenna GE Articles:
1) GE Auditor KPMG: Supporting Their Tax Strategy For 102 Years https://www.forbes.com/sites/francinemckenna/2011/03/29/ge-auditor-kpmg-supporting-their-tax-strategy-for-102-years/#7bea01d855ba
2) GE says shock multibillion-dollar insurance charge is ‘a special case’ https://www.marketwatch.com/story/ge-says-shock-multibillion-dollar-insurance-charge-is-a-special-case-2018-01-26

GE was investigated by the SEC for accounting fraud in 2018: https://www.marketwatch.com/story/ge-stock-turns-lower-after-disclosure-of-sec-investigation-2018-01-24

Please visit the Wall St for Main St website here: http://www.wallstformainst.com/
Follow Jason Burack on Twitter @JasonEBurack
Follow Wall St for Main St on Twitter @WallStforMainSt

Commit to tipping us monthly for our hard work creating high level, thought proving content about investing and the economy https://www.patreon.com/wallstformainst

Also, please take 5 minutes to leave us a good iTunes review here! We only have about 57 5 star iTunes reviews and we need to get to our goal of 100 5 star iTunes reviews asap! https://itunes.apple.com/us/podcast/wall-street-for-main-street/id506204437

If you feel like donating fiat via Paypal, Bitcoin, Gold Money, or mailing us some physical gold or silver, Wall St for Main St accepts one time donations on our main website.

Wall St for Main St is also available for personalized investor education and consulting! Please email us to learn more about it! If you want to reach us, please email us at: wallstformainst@gmail.com




Related Articles


  1. Some history: JP Morgan financed GE, but couldn't stand Edison! Claimed he was a spendthrift, though brilliant; Morgan wanted him to concentrate on fabulous ideas, like lightbulbs, and forget about record players, etc. Morgan kept him on a financial tight string and it exploded in growth. It did well for decades, but today I blame Jack Welsh mostly. He hollowed out the company. The original GE Credit was a great idea, but only available for GE manufactured products, so profits were already made on manufacturing. It doesn't work borrowing money to buy, say, a building in Hong Kong. It's counterproductive to loaning small change for millions of household appliances, which worked both ways: higher production figures sold to people who didn't have the upfront cash to buy.

  2. Jeff Immelt had vast, vast amounts of arrogance, self importance and ego. But he had no flippin' idea what he was doing, losing dozens of billions of dollars by making one incredibly stupid, failed corporate acquisition after another. GE's temptation to cook their books grew and grew as they lost vast amounts of money. This episode also shows how incredibly weak and possibly corrupt the SEC and the ratings agencies are.

  3. ge culture has been broken for a long time. performance doesn't matter there anymore just being popular. my brother works for a part of one of its divisions and ive heard horror story after horror story of bad incompetent managers, bad pol, bad decision making and employees doing loops around hr with pol correct bs. the culture of performance is long gone there. its run by harvard grads who are in the club but totally incompetent. dump it fast!

  4. It took me years to learn all about video and cable equipment, and now to my dismay, I have to learn to live outdoors at a campsite, singing cowboy songs like Sweet Baby James, while toasting marshmallows to the sounds of A Crying Destroyed Nation of People's Dreams.

  5. Jason,
    You should talk/interview Sheila Weinberg at Truth in Accounting about Enron-style accounting at the US government.
    Weinberg says that — accounted for correctly – that US government spending is double what the officials say.
    I just wrote about this for Sprott. Contact me directly if you have any questions.
    Peter D.

  6. Interesting that the morning after Jason released this video, GE jumped about 12% like the bad news had never happened. This same morning, John Deere is also up sharply immediately after a bad earnings miss pre-open, and despite poor forward prospects. I know they're both just going up because the SPX as a whole is up this morning, but still, the high correlation just gets totally irrational at times. Efficient markets my arse.

  7. Where were the Auditors we need to talk about the auditors when is accounting fraud it's about the Auditors not doing their job I'm talking about reserves for insurance the Auditors should have picked us up where the hell were the auditors

  8. Take it all out of their pensions, drain their bank accounts and take their assets, then jail them. Ponzi scheming rats nest. Sick of these pigs flaunting their stolen money and using against the consumer. Jail them all. Crush them like roaches. And make them pay to be jailed and tax them while they are and of course take away all their rights for hearings, voting or lawyers… that should be justice. #bringbackthegallows

  9. There is no way that Pru and Unum have loss ratios of 80-90% on their LTC business and GE has a 540% loss ratio. The premium, benefits and underwriting are too similar. A 10-20% difference, maybe, but not 5-6 times. That is impossible even with a terrible reinsurance deal. But that deal should almost certainly screw the insurance unit.

  10. Ever since Helicopter Ben and the gang decided to hit the "Print" button in October of '08, we all knew how this has to end- either we hyperinflate to infinity (and beyond) or the barbers start working to give the hedge funds, insurance companies, and banks a MASSIVE hair cut. (Or they take us to war and blow everything up and 4 billion people starve to death and they start over.)
    Of course we know they are not going to do the right thing. As Gerald Celente says: "There's no justice in the USA, there's JUST US- It's a big club, and you ain't in it". So they will lie and cheat and swindle and fraud until the brutal, bitter end.
    We've been watching the turds (GE, Deutchebank, and other institutions that have no business existing in anything other than a Simpsons episode) circle the global toilet for a long time, but now it looks like they're finally going down the throne.
    Negative interest rates? Are you kidding me. The bank is going to pay me to buy a house? A twenty year T-bill is going to give me less than what I put in? Not even a mental retard high as a kite on meth would touch any of that stuff with a 3.048 meter pole. And yet this toxic dogshit INCREASED by a trillion in just a week? (And that's just what they're admitting, obviously.) It's not hard to connect the dots here. The Deutchebank "restructure" was just a dog-and-pony show because they're pumping zillions of off-balance-sheet to ?China?
    The only thing that is guaranteed is that WallStreetforMainStreet is going to pumping a ton of livestreams over the next few weeks, because things are really starting to get interesting.

    Personally I think it's all Kabuki theatre. D Q Chump is calling on the Fed to slash rates, and calling China a "currency manipulator". (What does that make the US?) These "tariff wars" are just an excuse to mask the inevitable inflation when you print your debts away and is also a mechanism for the political blame game- just blame China for higher prices at Wally Mart.
    Everybody is saying China is devaluing their currency to keep exports cheap, but they are forgetting the other side of that equation, which is that Chinese imports of raw materials must get more expensive. What is really going on is a zero sum game but the problem is that the US consumer is no longer buying oceans of Chinese junk- as the retail apocalypse shows. (Of course, the fact that the last Star Wars movie was a dumpster fire did not help sales at Toys'R'Us either.) And the Chinese don't have any "Green Shoots" to export their junk to. (Russians don't like Star Wars anyhow.)
    So, keep up the good work and hopefully we stay afloat until Christmas.
    (Help your economy- shop 'til you drop this November. Run that plastic to the moon. Leverage your Golden Retriever. Do whatever it takes.)

  11. you know this crook that ran for Prez Mitt R. his job was to buy out companies then GUT them out and STEAL all what they could . . it looks like they have ECONOMIC HIT MEN For NOT ONLY COUNTRIES but also for Companies this crooks are DESTROYING AMERICA one city at a time , one company at a time . and they get away with that BS . .. lots of F Crooks in high places in gov and in companies and all over … GOLD goes up and SILVER goes DOWN WTF?

  12. Great video Jason!!!! I stopped buying GE products years ago as they were generally cheap crap…. Consumer Reports. Magazine rarely had anything good to say about their products . The handwriting has been on the wall for a long time. Mr. Markopolos is a hero among CFE's – my former line of work – Markopolos received a long standing ovation (and awards) at the annual CFE convention …after the Maydoff scandal …looks like he may be getting another one.

  13. Today's General Electric CEO latest response was almost word for word
    what CEO Ken Lay said as Enron's fraud was being exposed and just before
    it's fatal stock price collapse began. I watched the friggin' Enron
    movie last night and here comes the General Electric news/comment today –
    deja-vous all over again!

Leave a Reply

Back to top button