Goldman Sachs hires law firm to shut blogger's site

thecalip · Apr 13, 2009

Quote from Roman Candle:

All the masses would have to do is pull all their cash out of the banks. The banks are nothing with out OUR CASH.

Stop borrowing money, save then buy what you want. That will send chills down a banks spine.

The banks need us more than we need them.

You are incorrect sir. GS does not need our money. GS has the fed, they can print all they want.

GS is not evil. The central bank is. Why we allow a private own central bank to print money out of thin air and able to collect interest?

aradiel · Apr 13, 2009

dewton · Apr 13, 2009

Quote from Agassi:

I need a SOLUTION for the problem. So we all agree that so and so is evil. so what can be done? Gandhi's fast unto death before 85 broad street? will you guys come and fast unto death like Gandhi did?

lol... these big banks are a major CAUSE of global poverty, starvation, etc.. they won't give a ____ if you starve yourself to death in front of their luxurious office!

Humpy · Apr 13, 2009

One safe bet is that the beady eyed legal vultures will be making a nice fat profit

Humpy · Apr 13, 2009

Until whistle-blowing on corrupt practices has some protection then the Madoffs and other crooks will get away with it usually for a lot longer.

Could be a small indication of the growing power of the internet community - holding the rich and powerful to book - even Governments

Pa(b)st Prime · Apr 13, 2009

The name of the blogger is Mike Morgan and he's a pretty well known guy. His Florida real estate blog was one of the most widely read blogs in history. I'd guess he'll be a formidable legal adversary of Goldman's....

Free Thinker · Apr 13, 2009

http://www.ritholtz.com/blog/2009/04/taxpayer-funded-gs-profits/

Easy. You â and your grandkids â are the ones who paid for it:

âThe fact that they (like so many others) are being paid by the taxpayer through AIGâs âconduitâ for losses that didnât (yet) happen at 100 cents on the dollar might be the basic math.

And further (and potentially much worse) there is the repeated statement by Goldman executives that they were âfully hedgedâ against a potential counterparty default by AIG. One wonders - was that âhedgeâ to be short the equity on AIG itself, perhaps?

Why is this important?

Because if thatâs how Goldman hedged they got paid twice and the taxpayer literally got robbed. Someone in Congress needs to look into this now; there are already rumblings of investigation. Those rumblings need to get a lot louder and turn into subpoenas, not âpolite inquiries.â

If in fact Goldman (or anyone else) was âhedgedâ against a possible credit loss from their CDS with AIG and they were able to collect on that hedge (no matter what it was) those payments through AIG need to be clawed back immediately as nobody is entitled to be paid twice for the same risk and reap what amounts to a windfall profit by quite literally engineering a multi-billion dollar transfer of funds from the Taxpayer to the firm!â

Makes you wonder if having a Treasury Secretary who was a former CEO of Goldman Sachs had anything to do with this.

ammo · Apr 13, 2009

Quote from vhehn:

http://www.ritholtz.com/blog/2009/04/taxpayer-funded-gs-profits/

Easy. You â and your grandkids â are the ones who paid for it:

âThe fact that they (like so many others) are being paid by the taxpayer through AIGâs âconduitâ for losses that didnât (yet) happen at 100 cents on the dollar might be the basic math.

And further (and potentially much worse) there is the repeated statement by Goldman executives that they were âfully hedgedâ against a potential counterparty default by AIG. One wonders - was that âhedgeâ to be short the equity on AIG itself, perhaps?

Why is this important?

Because if thatâs how Goldman hedged they got paid twice and the taxpayer literally got robbed. Someone in Congress needs to look into this now; there are already rumblings of investigation. Those rumblings need to get a lot louder and turn into subpoenas, not âpolite inquiries.â

If in fact Goldman (or anyone else) was âhedgedâ against a possible credit loss from their CDS with AIG and they were able to collect on that hedge (no matter what it was) those payments through AIG need to be clawed back immediately as nobody is entitled to be paid twice for the same risk and reap what amounts to a windfall profit by quite literally engineering a multi-billion dollar transfer of funds from the Taxpayer to the firm!â

Makes you wonder if having a Treasury Secretary who was a former CEO of Goldman Sachs had anything to do with this.

i'm not on the side of GS by any means,but if they made x billion being long gold ,and x billion shorting lehman and bearstearns,and x billion on cd swaps ,i doubt the were long any cds'and wouldnt be in line for insurance,it would have been their customers ,(Japan/a school board in ND/Iceland/ireland /GB

stock777 · Apr 13, 2009

Quote from Pa(b)st Prime:

The name of the blogger is Mike Morgan and he's a pretty well known guy. His Florida real estate blog was one of the most widely read blogs in history. I'd guess he'll be a formidable legal adversary of Goldman's....

What exactly was his modus on that RE blog?

Was he a condo pimp, or was he warning the morons that they were stepping in the brown stuff?

www.goldmansachs666.com is all well and good but I'd be more impressed with

angelomozillomusthang.com

Shit, when Paulson got named, that was the most obvious conflict of interest in history. Never should have been allowed.

Pa(b)st Prime · Apr 14, 2009

Morgan's blog trumpeted the fall of Florida real estate.

http://realestateandhousing2.blogspot.com/

I know you're not a leftist but why was the Paulson appointment any different from Rubin's?

Quote from stock777:

What exactly was his modus on that RE blog?

Was he a condo pimp, or was he warning the morons that they were stepping in the brown stuff?

www.goldmansachs666.com is all well and good but I'd be more impressed with

angelomozillomusthang.com

Shit, when Paulson got named, that was the most obvious conflict of interest in history. Never should have been allowed.