Glenn Beck on GS!!!!!!!!!!

gigsup · Jul 17, 2009

Quote from Mvic:

Insider trading is not illegal if its done with the collusion and sanction of government officials.

The anger at GS is misdirected, they were able to bamboozle both Bush and Obama and work the system just like any other corporate entity trys to do. Our representatives in congress and the white house have not acted in the best interests of the American people and it is they who need to be held to account.

+1

Anaconda · Jul 17, 2009

Quote from Mvic:

Insider trading is not illegal if its done with the collusion and sanction of government officials.

Neither is theft, murder or torture under those conditions.

endsongs · Jul 17, 2009

Quote from ByLoSellHi:

I'll echo the (IMO appropriate) populist rage.

To the extent a great proportion of tax dollars (170+ billion) given to AIG were really designed to benefit the likes of Goldman, as AIG would never have been able to pay their counterparties on CDS bets without such sums, Goldman was an accessory, if not the principal miscreant, to grand theft and fraud.

Had not AIG been bailed out with such vast sums of taxpayer largess, would you be saying Goldman was so "bright" if AIG was unable to make good on those swaps?

I say not, as Goldman would be in the dustbin of history by now.

If AIG received the $170 B to pay off smart banks that properly hedged their risks, then that is what they use it for. GS only received about $13B of the 170B, so there were other banks that were smart enough to hedge, also. Where is the "populist rage" against the banks that took home the other $157B?

CET · Jul 17, 2009

Quote from endsongs:

If AIG received the $170 B to pay off smart banks that properly hedged their risks, then that is what they use it for. GS only received about $13B of the 170B, so their were other banks that were smart enough to hedge, also. Where is the "populist rage" against the banks that took home the other $157B?

Many of them were not hedging. They bought the CDSs purely for speculation.

dhpar · Jul 17, 2009

Quote from CET:

Many of them were not hedging. They bought the CDSs purely for speculation.

that's how i make my living as well...

Aletheia · Jul 17, 2009

Quote from CET:

Glenn Beck knows very little. He just parrots what his guests tell him. If you had the misfortune of watching him when he first came on TV you would know how little he really knows.

You voted for obammy, didn't you????? If so, I'm not surprised you are confused, as obammy voters are such a "wise" group, always able to assess the knowledge level of others when they themselves are unable to correctly answer simple questions. Oh, the irony!

http://www.youtube.com/watch?v=NyvqhdllXgU

the1 · Jul 17, 2009

True or not, he's right on cue here. I would be interested to know how much influence GS has on Ivy League MBA admissions.

Quote from CET:

Glenn Beck knows very little. He just parrots what his guests tell him. If you had the misfortune of watching him when he first came on TV you would know how little he really knows.

the1 · Jul 17, 2009

If GS did nothing wrong why did they need TARP money? Why did they need a massive infusion from Buffett and Co.? Why did they have to convert to a Bank Holding Company? Why did AIG have to be bailed? The answer is quite simple. Without all of that GS would have suffered the same fate as LEH and BSC.

Quote from endsongs:

GS did nothing illegal. Hedging risky investments was the smart thing to do. Just because financial people at other banks weren't bright enough to hedge sufficiently doesn't mean that GS success should be seen as bad or wrong.

CET · Jul 17, 2009

Quote from Aletheia:

You voted for obammy, didn't you????? If so, I'm not surprised you are confused, as obammy voters are such a "wise" group, always able to assess the knowledge level of others when they themselves are unable to correctly answer simple questions. Oh, the irony!

http://www.youtube.com/watch?v=NyvqhdllXgU

My post does not reference anything but Glenn Beck, so it is clear of what value you will be with your postings.

Aletheia · Jul 17, 2009

Quote from CET:

My post does not reference anything but Glenn Beck, so it is clear of what value you will be with your postings.

Actually, your post attacked the messenger and ignored the message. I simply placed your "assessment" into perspective.