October 29, 2009

NAMA's SPV and Enron's SPE.

Special Purpose Vehicles and Special Purpose Entities.

'SPV' smells like 'SPE'.
So don't step in it.

Any chance Andrew Fastow of Enron is one of NAMA's state-secret advisers?  Enron only rigged energy markets (shutting Intel's HQ in Santa Clara).  NAMA will rig the markets for people's homes (throwing people onto the street).

Mr Fastow is an expert at concealing massive balance-sheet losses by using a complex web of off-balance-sheet special purpose entities (SPE).  NAMA will cook its books by using so-called SPiVs in a shell game of off-balance sheet "accounting".

Only the lawyers and teechers running Green-FF could dream up such absurdities.  Fools and crooks.

Andrew Fastow is currently serving a six-year prison sentence for charges related to this conduct. 

PS:  NAMA = DDDA = Cowboys = Anglo-Irish bank = Green-Fianna Fail

Andrew Stuart Fastow was the chief financial officer of Enron Corporation until the U.S. Securities and Exchange Commission opened an investigation into his conduct in 2001.

Fastow was one of the key figures behind the complex web of off-balance-sheet special purpose entities or 'SPEs' (limited partnerships which Enron controlled) used to conceal their massive losses.

Enron - the largest bankruptcy in US history - was based in Texas.

Covanta is based in the polluted garden-state of New Jersey.

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