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Zerohedge is carrying Tyler Durden's (the Brad Pitt character in Fight Club) remarkable analysis of the Lehman Examiner Bankruptcy Report. Some of the highlights of his summary include:

• Lehman accountants falsified its ledgers in ways similar to Enronesque "Mark to Market" methodology.
• In addition to looking the other way with Madoff Securities, the SEC turned a blind eye to Lehman's shenanigans.
• Taking risky positions in speculation on junk "leveraged buyout loan positions."
• And thanks to the corporate veil, and compliant mainstream news media, the heat is off.

So, to recap, FFFFFFFFFFUUUUUUUUUUUUUUUU

Presenting The Lehman Bankruptcy Examiner Report | zero hedge.

In 1951, a quiet, picturesque village in southern France was suddenly and mysteriously struck down with mass insanity and hallucinations. At least five people died, dozens were interned in asylums and hundreds afflicted.

For decades it was assumed that the local bread had been unwittingly poisoned with a psychedelic mould. Now, however, an American investigative journalist has uncovered evidence suggesting the CIA peppered local food with the hallucinogenic drug LSD as part of a mind control experiment at the height of the Cold War.

via French bread spiked with LSD in CIA experiment - Telegraph.

Indeed, last year's wealth wasteland has become a billionaire bonanza. Most of the richest people on the planet have seen their fortunes soar in the past year.

And so, it appears, that this latest stampede/transfer of wealth is almost complete.

via worlds-billionaires-2010: Personal Finance News from Yahoo! Finance.

This is bad news for Greece and Ireland. And it may monkey with currency markets.

Voters in Iceland have overwhelmingly rejected proposals to pay the UK and the Netherlands in the wake of collapse of the Icesave bank.

With a third of results counted, 93% of voters said "No" in a referendum.

The British and Dutch governments want reimbursement for the 3.8bn euros (£3.4bn; $5.2bn) they paid out in compensation to customers in 2008.

via BBC News - Iceland rejects plan to repay Icesave debts.

Memoirs of a Scanner (Martinibomb Version) from Damon Stea on Vimeo.

This plan is nothing new: increase the tax rate on the income of middle class in order to shave a small amount off for the rich.

Economically, that's like turning on all the accessories when you're trying to start an old car on a cold day.

Rep. Paul Ryan's tax and spending "roadmap" is a fascinating critter: conservatives all praise it to the skies but none of them want to actually commit to supporting it. The reason for their hesitation is obvious: Ryan's plan would cut spending dramatically, and supporting it would mean having to explain what, exactly, they'd cut. That would be electoral suicide and they know it. They much prefer their usual game of loudly denouncing "spending" without ever having to say what spending they're actually opposed to.

via Paul Ryan's Plan to Tax You More | Mother Jones.

Computer games disguised as Excel and Word documents which allow office workers to waste time without attracting the attention of their bosses are taking off on the web.

via Computer games disguised as Excel and Word prove a hit with office workers - Telegraph.

A New Zealand infantryman's quick thinking saves his comrades.

Rifleman James McKie from Recce Platoon, 3rd Battalion The Rifles was under fire from three directions on a roof when the grenade hit his platoon commander and landed at his feet.

"My first thought was I hope this doesn't hurt too much," the New Zealander said. "That, and I've really only got one chance to do this.

"If it fails, either way, doing nothing, I'm going to get the same amount of hurt. So I picked it up and threw it off the roof."

via Soldier tells how he threw back Taliban grenade - Yahoo! News.

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