SEC charges GS with fraud

Quote from nitro:

It is a mystery to me what people will or will not get outraged by, even though the stakes are often equally high, or the corruption as bad.

Take MRK, or PFE, that will do anything for a buck, even let drugs loose on the market that are potentially extremely dangerous, then lie about it. And this is not just a recent phenomenon, these drug companies have been lying to doctors and patients repeatedly for decades. For example:

http://online.wsj.com/article/SB122342420313813411.html?mod=testMod

And yet, all that happens is, people read these stories and go on with their lives. How can this be allowed to happen? Americans used to be people of integrity. Where did we go so wrong that we became desensitized to outright dishonesty? To me this is more indication that we are on the same road that Rome went down before it's ultimate demise.

Corporations are out of control, with the government in their pocket through special interest groups, e.g.,

http://www.msnbc.msn.com/id/16593606/

But hey, at least the shareholders are happy, especially if you are not allowed to short their stocks no matter what without an uptick.

But I digress. This thread is about GS, guilty or not guilty.
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because the same people that work at the FDA which approve drugs like VIOXX go on to work for big pharma. You are right though. This has been going on since the begining of time though, it just makes the news now more often...Tobaco companies lied for many years and the biggest lie of all is the themirosal used in our childrens vaccine of the past....
 
See how a one day sell off after the markets are up over 80% create great values according to cramer....

Cramer is such a fool!!!


Cramer emphasized again that Goldman shouldn’t scare investors out of stocks. In fact, today’s sell-off has created great values in names that have no connection to the controversy.

“Next week is your chance to buy them,” Cramer said.
 
Quote from S2007S:

See how a one day sell off after the markets are up over 80% create great values according to cramer....

Cramer is such a fool!!!


Cramer emphasized again that Goldman shouldn’t scare investors out of stocks. In fact, today’s sell-off has created great values in names that have no connection to the controversy.

“Next week is your chance to buy them,” Cramer said.
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thats not good, I do not want cramer on the long side, that guy is a good sell indicator.
 
Quote from S2007S:

See how a one day sell off after the markets are up over 80% create great values according to cramer....

Cramer is such a fool!!!


Cramer emphasized again that Goldman shouldn’t scare investors out of stocks. In fact, today’s sell-off has created great values in names that have no connection to the controversy.

“Next week is your chance to buy them,” Cramer said.
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it is quite interesting the number of people who call cramer a fool. possibly they are the same people who call jim rogers a blowhard fool.

the difference between you and them is that they have an audience and don't have to worry about feeding their families for the rest of their lives.
 
Financial reform is coming, the Republicans will have to yield as Wall St has a distinct image problem.
from Paul Krugman, NYT:
For the fact is that much of the financial industry has become a racket ---- a game in which a handful of people are lavishly paid to mislead and exploit consumers and investors.
 
is this a misprint about paulson?

It all started when Goldman Sachs created a product for a "not very smart" hedge fund client, Paulson & Company, because they wanted to bet against housing. Goldman Sachs made sure the product was properly vetted first and put out a document, ABACUS2007-AC1. After reading the document, Cramer said he would never have bought such a piece of paper, but added no one put a gun to the head of those who did.
 
Quote from zdreg:

it is quite interesting the number of people who call cramer a fool. possibly they are the same people who call jim rogers a blowhard fool.

the difference between you and them is that they have an audience and don't have to worry about feeding their families for the rest of their lives.
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You are so mixed up in your views.... You must be a paid spammer for crammer. ?????
 
Some people's reaction here is making me seriously ill with scorn.

I seriously wonder what kind of a fucking moron you have to be to realize that this shit is what has been going on only after someone gets officially charged by the most honorable and honest SEC, and then claim to have friends in "high positions" letting you in on "secrets".
 
Quote from nitro:

Shorting a stock is shorting the performance of a company relative to it's price, whose very act of becoming public is to be judged on performance or lack thereof in executing it's business. The very act of valuing a stock suggests that a stocks price may be too high, and either the longs themselves correct for this, or shorts are required to do so. Shorting a stock is imperative for the operation of fair and efficient markets. That's the logic. But when people spin this as "the shorts are making a dime off your back", people get angry and we get uptick rules.

Now, one can make similar arguments against people that bought second homes, or the flippers, or the people that treated their house like an ATM machine so they could live well beyond their means. There is one big difference. If you short stocks and make the market go down, people will look at their 401K statements and mostly shrug that off with some semblance of rationality. But when you get evicted from your house, and by "you" I mean people on a massive scale, with the police coming to your front door, and you have no place to live, and you have kids whose life is traumatically affected, do I need to go on? Meanwhile, you watch how these people give themselves bonuses and wear T-shirts that say, "I shorted your house" in bold letters, and well, if I need to explain the difference further, it is a lost cause.

But the fact that you asked the question and did not grasp the answer on your own suggests that you are not in tune with perception and reality, with the human condition - only with logic and theory.
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dude, regardless of shorting of homes or not those people would evicted in 'massive scale, with the police coming to your front door, and you have no place to live, and you have kids whose life is traumatically affected'. Matter of fact, it would probably happen in an even greater scale as the shorts actually increased the cost of financing by taking the other side of global demand for fixed income yield and therefore helped to decrease the bubble or quicken its end(even if by a marginal microscopic amount). You really think that if there CDS buyers didnt exist, prices of California homes would stay absurd multiples above income forever?Please

Now as far as people boasting and wearing t-shirts, thats another matter, I would still argue that they are not doing anything wrong as I seem to recall the US being a free country with freedom of speech, but its not a behavior I would engage in for many reasons
 
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