In the best-case scenario, Alibaba is the goofiest, most convoluted, opaque, mismanaged accounting mess and business structure in history.
This is so thick it’s hard to believe. It’s far beyond just a Brick & Mortar Meltdown.
A Friday-afternoon-in-August disclosure. Here’s its rap sheet of ongoing official scandals.
Use of this financial instrument has ballooned. No one knows to what extent because there’s no disclosure. But it was a “key contributor” to the sudden collapse of outsourcing giant Carillion.
When central banks distort the markets, risk disappears from view.
Markets have a way of blowing this type of consensus out of the water.
When it gets too complicated for senior auditors, send in a “college-aged intern.”
As banks pull back from mortgage lending amid inflated prices and rising rates, “shadow banks” have become very aggressive.
“Right after the company tells the market the stock is cheap, executives overwhelmingly decide to sell.”
There’s unconfirmed speculation JPMorgan may have been granted immunity as the whistleblower.