Tuesday, April 12, 2011

[Video] CNBC - Muddy Waters: Beware the Chinese Reverse Merger

Quite an interesting interview Carson Block of Muddy Waters Research on CNBC today re: some of the scams happening in Chinese companies which have entered the U.S. market via reverse mergers with existing shells.  Apparently there are some 300 such companies out there - quite a few have blown up lately, which has cast suspicion on many of the Chinese small caps.  Frankly the fact some of these have U.S. auditors who apparently only resign after being outed by a firm like Muddy Waters says a lot about the state of our auditors.

7 minute interview

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