Goldman Sachs charged with fraud.

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  • runningman
    Playa I'm a Sooth Saya
    • Jun 2004
    • 5995

    #16
    Re: Goldman Sachs charged with fraud.

    And what happened when these Goldman complaints came out? The stock market went down 100 points. .They are doing it again. Max Keiser is right. They are financial terrorists and they are now holding a gun to the head of the economy.. They are saying "go ahead, try to take us to court, we will blow the head off the economy because we are now WAY to big to fail." They are bigger now then before.. TBTF's are all bigger.. The problem is bigger.

    Comment

    • Shpira
      Angry Boy Child
      • Oct 2006
      • 4969

      #17
      Re: Goldman Sachs charged with fraud.

      The problem is that they come up with these fucked up financial products which they claim are hedged against some fucked up market no one follows which is in turn hedged against the rate of a currency not traded on the currency market which is hedged against the chance of snowfall in Zaire and then they expect somebody to evaluate the rate of this product and tell them if the model is correct....then when no one can evaluate it their model is accepted and at the end of the year they report earnings which no one can investigate or confirm and they receive huge bonuses. Finally when an audit is done and they realize that those earnings are false they just turn around and say our model was incorrect.
      This is unfortunately the reality of trading as i have discovered over the past 6 months. Blind leading the blind.
      The Idiots ARE Winning.


      "Whenever you find yourself on the side of the majority, it's time to pause and reflect."
      Mark Twain

      SOBRIETY MIX

      Comment

      • runningman
        Playa I'm a Sooth Saya
        • Jun 2004
        • 5995

        #18
        Re: Goldman Sachs charged with fraud.

        Two good posts Shpira. I like your style.. Except for the Obama stuff.



        Goldman Sachs to pay out $5 Billion in MORE bonuses!!!! OMFG!! Now I know why the gov't came out with this story a few days before this one came out. It all makes sense now.

        Breaking news, political news, and investigative news reporting from Raw Story's team of journalists and prize-winning investigators.


        Watch out the Americans are going to start shooting soon. This is too outrageous to even comprehend. People are losing their homes at an unprecidented rate and these guys are giving a second round of bonuses worth $5 Bil? WOW..

        Comment

        • res0nat0r
          Someone MARRY ME!! LOL
          • May 2006
          • 14475

          #19
          Re: Goldman Sachs charged with fraud.

          This is an interesting take on the current situation:



          You Think The Government Doesn't Want Big Banks? Think Again

          Comment

          • floridaorange
            I'm merely a humble butler
            • Dec 2005
            • 29116

            #20
            Re: Goldman Sachs charged with fraud.

            I don't see anything really coming from this, GS reported record earning this quarter (big surprise) and although today they're stock was down and Morgan Stanley's was up, I seriously doubt this one indictment is going to tarnish their reputation very much to their investors... If value is being created, we humans tend to forgive and forget rather quickly.

            It was fun while it lasted...

            Comment

            • res0nat0r
              Someone MARRY ME!! LOL
              • May 2006
              • 14475

              #21
              Re: Goldman Sachs charged with fraud.

              If they slide a cool $500k into my account I will have no problem asking Kamal to delete this thread.

              Comment

              • floridaorange
                I'm merely a humble butler
                • Dec 2005
                • 29116

                #22
                Re: Goldman Sachs charged with fraud.

                http://www.charlierose.com/view/interview/10973

                It was fun while it lasted...

                Comment

                • Shpira
                  Angry Boy Child
                  • Oct 2006
                  • 4969

                  #23
                  Re: Goldman Sachs charged with fraud.

                  Dem vs. Rep. you all need to get over it. The wealthy control everything. Any business or investor that doesn't have enough money to carry them through several bad years shouldn't be investing.

                  Derivatives are gambling and nothing less. How is permitted that Billions of dollars were placed as a "derivative" bet as to whether or not Greece would be able to pay back their debt. Then low and behold someone was there to help them out. If Americans don't wake up and realize that the longer we get stuck on Dems vs. Rep. we will continue to stay right where we are at.

                  We get caught up in the propaganda and don't search for the truth ourselves. We don't hold anyone accountable for ANYTHING. Nothing has ever come out of governmental hearings...why would that change.

                  We are the country that spent a trillion dollars because we were so concerned about the Iraqi people. When the truth is we could care less about those people. Millions are still in tent camps are not allowed to leave. We are all talk. - even the Tea Party. They demand the same things that people have been demanding for years. I do give them credit for getting together (although the average Tea Party member is white, well-off, older, and can take the time to make this their current hobby). But if I was in the service I would be greatly offended that no one banded together to stop the war yet was getting together over taxes.

                  When you buy into the propaganda you already lost the game. This game hasn't changed throughout history - the mega wealthy pull the strings and it doesn't matter what political party you belong to but rather whom you know.

                  War, human trafficking, child molestation, Americans living in poverty, public education compared to private (not charter but boarding schools)...these are issues we should be talking about each and every day.

                  We need to hold people accountable and not let our government put medals on their friends that fail us. Why can’t I gamble on the NFL game but millionaires can gamble on Greece? There is no difference. And until we demand that this practice stops we will see pensions drop, benefits cut, and more bailouts.

                  Derivatives are illegal gambling. Take this toy away from the big dealers.
                  not a bad argument
                  The Idiots ARE Winning.


                  "Whenever you find yourself on the side of the majority, it's time to pause and reflect."
                  Mark Twain

                  SOBRIETY MIX

                  Comment

                  • runningman
                    Playa I'm a Sooth Saya
                    • Jun 2004
                    • 5995

                    #24
                    Re: Goldman Sachs charged with fraud.

                    it is a good argument.

                    Comment

                    • floridaorange
                      I'm merely a humble butler
                      • Dec 2005
                      • 29116

                      #25
                      Re: Goldman Sachs charged with fraud.

                      The CEO of Goldman Sachs and other executives from the Wall Street powerhouse are coming before Congress 10 days after the government accused the firm of fraud.


                      Senators To Press Goldman Officials About Practices


                      By Associated Press
                      April 27, 2010

                      The CEO of Goldman Sachs and other executives from the Wall Street powerhouse are coming before Congress 10 days after the government accused the firm of fraud. The Senate panel hearing their testimony Tuesday alleges that Goldman used a strategy that allowed it to profit from the housing meltdown and reap billions at the expense of clients.

                      Enlarge this image Win McNamee / Getty Images
                      Above: Holding a stack of evidentiary papers, Sen. Carl Levin (D-MI) answers questions relating to the disclosure of Goldman Sachs internal emails April 26, 2010 in Washington, DC.

                      Goldman executives misled investors in complex mortgage securities that turned toxic, investigators for the Senate subcommittee say. They point to a trove of some 2 million e-mails and other Goldman documents obtained in an 18-month investigation. Excerpts from the documents were released Monday, a day before the hearing bringing CEO Lloyd Blankfein and the others before the Senate Permanent Subcommittee on Investigations.
                      Blankfein says in his prepared testimony that Goldman didn't bet against its clients and can't survive without their trust.


                      more from this article here

                      It was fun while it lasted...

                      Comment

                      • Shpira
                        Angry Boy Child
                        • Oct 2006
                        • 4969

                        #26
                        Re: Goldman Sachs charged with fraud.

                        cough cough bullshit
                        The Idiots ARE Winning.


                        "Whenever you find yourself on the side of the majority, it's time to pause and reflect."
                        Mark Twain

                        SOBRIETY MIX

                        Comment

                        • floridaorange
                          I'm merely a humble butler
                          • Dec 2005
                          • 29116

                          #27
                          Re: Goldman Sachs charged with fraud.

                          These clips from the hearing today speak for themselves.






                          It was fun while it lasted...

                          Comment

                          • floridaorange
                            I'm merely a humble butler
                            • Dec 2005
                            • 29116

                            #28
                            Re: Goldman Sachs charged with fraud.

                            Good overview:


                            It was fun while it lasted...

                            Comment

                            • Shpira
                              Angry Boy Child
                              • Oct 2006
                              • 4969

                              #29
                              Re: Goldman Sachs charged with fraud.

                              Even as Goldman Sachs (GS) is grappling with a congressional inquiry and the Securities and Exchange Commission's civil suit accusing it of securities fraud, Wall Street is almost unanimous in its support of the largest and, at least recently, the most profitable investment bank. None of the 29 Street analysts who track Goldman recommend selling the stock. In fact, 22 continue to rate it a buy, and seven others peg it a hold, or neutral.

                              See full article from DailyFinance: http://srph.it/b6B4Wj
                              as expected
                              The Idiots ARE Winning.


                              "Whenever you find yourself on the side of the majority, it's time to pause and reflect."
                              Mark Twain

                              SOBRIETY MIX

                              Comment

                              • res0nat0r
                                Someone MARRY ME!! LOL
                                • May 2006
                                • 14475

                                #30
                                Re: Goldman Sachs charged with fraud.

                                Buffett Defends Goldman; Berkshire Posts Profit


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