SEC charges GS with fraud
- Thread starter nitro
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GS was rushed through to become a money center in the midst of the TARP being enacted, so what exactly are you talking about when mentioning credit lines & reserve ratios. GS did not have these requirements as it was a pure investment bank but was rushed through the process and converted to a money center (along with Morgan Stanley), in order to become eligible for the TARP, TALF and get access to the Fed discount window.
When such drastic courses of action are taken, it's kinda obvious whether there was trouble or not.
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Ok, pretend AIG never get bailout money, so they can not pay Goldman "a single penny" like you say.Now Goldman have CDO that only is worth the .40 cent to the dollar (in this time)(this is true and proof by how much collateral AIG have to post in this time) Ok, but they hedge this risk with more swaps on AIG Default, true? BUT if no bailout to AIG, then this other swaps Goldman Sach have can maybe not pay either? (systemic risk)
Now, who (in this time because no one trust any CDO) can the Goldman Sachs sell their .40 cent on the dollar CDO to? NO MARKET in this time.
So would Goldman collapse?
Nah... here are some real examples of biased rhetoric & opinion:
1) your statement that I quoted below.
2) wmb's moronic response to the FACT that Goldman paid back TARP + $425 million:
unless you mean 425,000,000,000.00
otherwise half of what they owed was 220,900,000,000.00!!!!Its billions and billions is a frcikin lot! You and all the other GS employees should stop listening to your mamas tell you that your doing good stick in up for that crap ass company!
3) syprik actually believes he has the "inside scoop" that Goldman's lying about their loss on ABACUS 2007-AC1 despite the FACT that the risk/reward of misrepresenting that is insanely bad:
everytime I hear people use this "they lost $90mil on this deal, thus .... ", I cringe as it's likely they bought the slick GS PR hook, line & sinker.
1) your statement that I quoted below.
2) wmb's moronic response to the FACT that Goldman paid back TARP + $425 million:
unless you mean 425,000,000,000.00
otherwise half of what they owed was 220,900,000,000.00!!!!Its billions and billions is a frcikin lot! You and all the other GS employees should stop listening to your mamas tell you that your doing good stick in up for that crap ass company!
3) syprik actually believes he has the "inside scoop" that Goldman's lying about their loss on ABACUS 2007-AC1 despite the FACT that the risk/reward of misrepresenting that is insanely bad:
everytime I hear people use this "they lost $90mil on this deal, thus .... ", I cringe as it's likely they bought the slick GS PR hook, line & sinker.
of course they were in trouble and perhaps on the verge of being extinct. It's amazing how even with the advantage of hindsight some still would say that they were doing ok. Asia has popped up in every thread having to do with GS and has defended them on every single one of them. I could care less wether they did or did not committ fraud, we all know fraud is part of the game in almost every industry, but to come out and say they weren't in trouble is too funny.
Hey,
You are the one who was either missing my point about MAiden lane accounts being a billion dollar hiding place for GS or your decimal points are in the wrong spot!
So, my moronic posts are the exact posts that everybody is talking about except for the GS flag bearers! GS would have perished if all of the above mentioned help didnt come together when it did to save their arrogant f'ing asses. To think your fing better than Lehman is wild but take your bonus and shove it up your ass! Stop trying to defend GS and their bonuses because this is what this thread is really all about!
If I'm the moron why the F are you still confused?