SEC charges GS with fraud
- Thread starter nitro
- Start date
It appears Obama is playing the bankers. GS has no protectors.
Their primary protector the criminal Herr Bush is gone.
And their bastard unamerican republican protectors in congress will be shot where they stand if any news got out that they're protecting GS
Their primary protector the criminal Herr Bush is gone.
And their bastard unamerican republican protectors in congress will be shot where they stand if any news got out that they're protecting GS
A sacrificial lamb, hum that would sure please the public. Everyone would eat that up and the Dems get re elected.
Thatâs a brilliant idea, seems the rising market was not getting consumer confidence moving up, so lets try thisâ¦.excellent idea!
Thatâs a brilliant idea, seems the rising market was not getting consumer confidence moving up, so lets try thisâ¦.excellent idea!
Quote from TheAngryHermit:
I'm not religious, but I just wanted to say:
THANK YOU, JESUS!
Pennies from Heaven...
Wasn't Jesus silly.
Satan realised he too has been screwed by Blankfein and co. and they have a fallout.
"We are doing god's work" - simply awesome.
Cheers,
Max
timing of this move sucks (well deserved, but still sucks) and smells of political maneuvering - these charges right before they bring the financial reform package to the floor:
http://www.reuters.com/article/idUSTRE63E4G420100415
http://www.reuters.com/article/idUSTRE63E4G420100415
Goldman was not the only firm that peddled these complex securities â known as synthetic collateralized debt obligations, or C.D.O.âs â and then made financial bets against them, called selling short in Wall Street parlance. Others that created similar securities and then bet they would fail, according to Wall Street traders, include Deutsche Bank and Morgan Stanley, as well as smaller firms like Tricadia Inc., an investment company whose parent firm was overseen by Lewis A. Sachs, who this year became a special counselor to Treasury Secretary Timothy F. Geithner.
---------------------------
Among the most aggressive C.D.O. creators was Tricadia, a management company that was a unit of Mariner Investment Group. Until he became a senior adviser to the Treasury secretary early this year, Lewis Sachs was Marinerâs vice chairman. Mr. Sachs oversaw about 20 portfolios there, including Tricadia, and its documents also show that Mr. Sachs sat atop the firmâs C.D.O. management committee.
From 2003 to 2007, Tricadia issued 14 mortgage-linked C.D.O.âs, which it called TABS. Even when the market was starting to implode, Tricadia continued to create TABS deals in early 2007 to sell to investors. The deal documents referring to conflicts of interest stated that affiliates and clients of Tricadia might place bets against the types of securities in the TABS deal.
------------------
cont on link..
http://www.nytimes.com/2009/12/24/business/24trading.html?pagewanted=4&_r=1
---------------------------
Among the most aggressive C.D.O. creators was Tricadia, a management company that was a unit of Mariner Investment Group. Until he became a senior adviser to the Treasury secretary early this year, Lewis Sachs was Marinerâs vice chairman. Mr. Sachs oversaw about 20 portfolios there, including Tricadia, and its documents also show that Mr. Sachs sat atop the firmâs C.D.O. management committee.
From 2003 to 2007, Tricadia issued 14 mortgage-linked C.D.O.âs, which it called TABS. Even when the market was starting to implode, Tricadia continued to create TABS deals in early 2007 to sell to investors. The deal documents referring to conflicts of interest stated that affiliates and clients of Tricadia might place bets against the types of securities in the TABS deal.
------------------
cont on link..
http://www.nytimes.com/2009/12/24/business/24trading.html?pagewanted=4&_r=1