Zeev's Turnips Patch-No Politics (ZEEV)

[Joe Stocks]

>>>Last week the Financial Times ran an article on the rigging of the U.S. markets. It may be one reason that many foreign entities are pulling out of the U.S. We once were considered to be the model that other markets strived for; now we have become the one they try to avoid. Over the weekend the ECB recommended that all of its member central banks dump all of their holdings of Freddie Mac and Fannie Mae due to accounting irregularities. Freddie Mac is currently under investigation by the SEC and federal prosecutors after understating earnings by $4.5 billion leading to the resignation of the firm’s top three execs. Foreign institutions and governments are now starting to pay more attention to accounting issues and earnings quality. The constant accounting scandals are starting to get everyone’s attention overseas, even though they are ignored by investors domestically.<<

This is what I was alluding to earlier. The US market is losing it's integrity.