Chesapeake Energy's former chairman was involved in rather shady dealings to say the least!

Oh my goodness is about all I can say after reading this article which pertains to Chesapeake Energy and their debt obligations. First off this kind of harkens back to the says of Enron and Arthur Anderson. I say this predominantly because they failed to tell their investors about a considerable amount of debt that the company owes.

I would just have to question the heads of both Goldman Sachs and the Jefferies Group, for taking on $3 billion dollar unsecured note. It must be nice to be able to do that! As of recently Chesapeake began selling off a good chunk of its oil and gas assets, in an effort to make the company more solvent.

"This short-term loan from Goldman and Jefferies provides us with significant additional financial flexibility as we execute our asset sales during the remainder of 2012," Chairman and CEO Aubrey McClendon said in a statement. She makes it sound as if the company just borrowed one dollar for a Coke. I would appreciate more seriousness on the parts of everyone involved.

And of these banks which Chesapeake signed agreements with to buy oil and gas-- what banks was it and how much of each commodity did they buy. And since when did banks become involved in energy market. If I am not mistaken that is a little bit out of their scope of business traditionally.

Now comes the kicker-- would you believe that he (McClendon) took out loans for houses from companies that were negotiating for oil and gas contracts from Chesapeake? And here is the real kicker for you, would you believe that this joker also runs a private hedge fund which bets on guess what-- yep you guessed it oil and gas. This is why we as a country needs very tight restrictions on their financial markets! Otherwise all of these corporate fat cats are going to run off with the whole country!