Tuesday, April 21, 2009

Hey Look! The Emperor's Buck Naked!

The Fourth Estate is getting surly. About time, I say. For a while, I thought they were pliantly going to go along with the fraud that is this quarter's earnings season for the major U.S. banks. But the cojones have dropped into place, the rapier wit is sharpening, and the acid is starting to fly off the tip of some tongues ...

Anyway the metaphor gaining prominence to describe the banks' numerical trickery is legerdemain -- if you're unsure about the meaning, think "magician."

Huffington Post politely dismisses the banks' results.

Andrew Ross Sorkin of the New York Times lances the boil.