The following is a story I wrote up about a bad guy Mr. T.
Mr. T, the most wealthy, and his brother Mr. F got together because their dad started a company half a century ago and sold it to the public.
Mr. T and Mr. F wanted it back, but they didn’t want to pay for it, so what they did is they came up with a plan.
The plan involved Mr. T and Mr. F laundering money through the company. Mr. T over the span of 7 years would put in $132.2B that the company didn’t need at usurious rates of Mr. T’s choosing even though the company had access to cheaper sources of capital. Then, Mr. T would say that the company could never pay Mr. T back no matter how much the company made.
The plan involved Mr. F taking control of the company and arranging with Mr. T so that when Mr. F hid assets from the public, the company would be forced to pay Mr. T more. The plan only worked if at the end of writing down enough assets to justify a takeover, Mr. F said the companies were crumbling and pretended like the assets it had been hiding for three years in a row no longer existed. Ha, it was funny because after Mr. F worked this out with Mr. T, they quickly paraded all of those hidden assets out and gave them to Mr. T.
This was all possible if Mr. T could force it so that Mr. F was able to unilaterally let go anyone opposed to these practices. Many people were let go. Sure, it was a sham and the companies never needed any money, but no one would ever be able to figure that out because off-balance sheet government accounting can be obfuscated and Mr. F can omit select accounting review opinions through 2012.
Anyway, you get the idea, Mr. T is a bad guy. Mr. F is a bad guy. The net result is that the companies have been taken over by gangsters who make up their own rules as they go along, violating established principles and expectations and lying (Ugoletti, a la Mr. Perjury), or perhaps the Third Amendment Killer Susan McFarland or better yet Egbert Perry the man who watched as Mr. F and Mr. T went about their merry way like no one was able to pay close attention.
I thought that was going to be a better story than it was. Oh well.
Glen
PS who thought it was going to be a good idea to depose Demarco, a serial liar or perhaps a delusional chip on the old shoulder purple people eater?