NY Fed Under Geithner Implicated in Lehman Accounting Fraud Allegation

(NakedCapitalism) – Quite a few observers, including this blogger, have been stunned and frustrated at the refusal to investigate what was almost certain accounting fraud at Lehman. Despite the bankruptcy administrator’s effort to blame the gaping hole in Lehman’s balance sheet on its disorderly collapse, the idea that the firm, which was by its own accounts solvent, would suddenly spring a roughly $130+ billion hole in its $660 balance sheet, is simply implausible on its face. Indeed, it was such common knowledge in the Lehman flailing about period that Lehman’s accounts were sus that Hank Paulson’s recent book mentions repeatedly that Lehman’s valuations were phony as if it were no big deal.

MSM: 3 signs of the next real estate collapse

(CNN) – The latest bubble is about to burst, but this time it’s in the commercial market. Here’s how to see it coming.

The Economy Is A Lie, Too – Paul Craig Roberts

Americans cannot get any truth out of their government about anything, the economy included.  Americans are being driven into the ground economically, with one million school children now homeless, while Federal Reserve chairman Ben Bernanke announces that the recession is over.

Treasury: US economy needs indefinite life support

(RawStory) – The US economy is recovering from the shock of last year’s banking collapse, but could continue to need financial assistance for an indefinite period into the future, the Treasury Department stated in a report released Monday.

Video: Greenpeace Leader Admits Arctic Ice Exaggeration

(BBC) – Gerd Leipold, the outgoing leader of Greenpeace, admitted that his organization’s recent claim that the Arctic Ice will disappear by 2030 was “a mistake.”