MW’s Carson Block: It’s a Ponzi scheme in that the company perpetually issues securities in order to fund itself. Even by its own fraudulent numbers, the company does not generate any free cash and has not done so in sixteen years. Were the company be unable to issue additional securities to fund itself, it would…
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Tags: Carson Block, John Paulson, Muddy Waters, Ponzi schemes, Sino-Forest, this is just another day at the office for us
