SEC charges GS with fraud

[trendlover]

Quote from rude:

WHAT!!.... Under what law? Who gave you or the government that right ? Is it constitutional? Who's discretion would be used? What are the unintended consequences of such a policy? what country are we in, Venezuela ?

You must be losing your damn mind.

--------------------------------------------------------------------------------------


Look like Goldman Sach and Venezuela compete for to use god on thier side.


“The squalid (the name given by President Chavez to opponents) are praying for no rain. But you can bet it’s going to rain, pour with rain, because God is Bolivarian”, said the president during his weekly chats broadcasted on national radio and television."
http://en.mercopress.com/2010/03/12...ain-to-venezuela-s-power-stations-says-chavez


"The boss of Goldman Sachs claimed yesterday that bankers were doing 'God's work".
Lloyd Blankfein is the latest money man to defend bumper bank bonuses, suggesting a return to massive profits should be welcomed.

http://www.timesonline.co.uk/tol/news/world/us_and_americas/article6907681.ece

 

[running_bare]

Quote from goldboy:

Live Call:

Going long Goldman @ 161.07

You can thank me later.

Sgt. D

How's your ass feeling?

Or was it a paper trade..

 

[MarketMasher]

Quote from running_bare:

How's your ass feeling?

Or was it a paper trade..

Don't be too hard on goldenboy, such things are always tough to call.
I figured it might drop down to around 141 first, but you really have to be watching it to see how it behaves because it is jerking around from news.

If GS keeps up a hard fight, it will react differently than if they lose their balls and settle.

 

[spinn]

Quote from asiaprop:

I fully agree. Nitro, I think you are jumping the gun here. While I note your outrage and discontent with this corporate culture you also should respect that GS has not yet been convicted of any crimes. I think if you are very honest to yourself then you will come to the conclusion that you wish GS fall because of jealousy (jealousy to also wanting to belong to the club, not its unethical part but the wealth part) and your natural drive to see the proud and arrogant punished. If you take a step back could it possibly be that you come to the conclusion that before you put Blankfein into the hot seat a lot of other ibank CEOs should be questioned? GS RELATIVE to other entities takes maybe the smallest fault in this crisis. Would you be able to agree on some of above made points?

I believe a big reason why GS is seen by the public as being synonymous with this crisis is its large percentage of Jewish employees, its out-performance over most other banks ("we are smarter than the other"), and its smarts in placing its ex lieutenants in politics, and other power exercising functions. Every other firm could have done the same, every other advocacy could have done the same. From my 10+ years in institutional ibank environments I am personally convinced that the GS environment is more ethical and responsible than all the other banks and hedge funds I have witnessed. Thats my personal experience and I am ok others disagree with that.

So this is all because Goldman is a Jewish firm, and we are all jealous of them?? You are race baiting in a way that would make Al Sharpton jealous. It is now clear you know you are wrong and are pulling out all the stops to prove your anemic point. By the way, what is your point? http://www.washingtonpost.com/wp-dyn/content/article/2010/04/30/AR2010043001336.html?hpid=topnews read the comments on that article to see what actual humans think of your opinion.

 

[nitro]

Quote from rude:

WHAT!!.... Under what law? Who gave you or the government that right ? Is it constitutional? Who's discretion would be used? What are the unintended consequences of such a policy? what country are we in, Venezuela ?

You must be losing your damn mind.

The new laws that I expect to be in place soon:

a) Prop trading and banking will soon be illegal within one firm.
b) "Too big too fail" law, which no one is sure what form will take yet, means that firms like BAC and JPM will have to spin off ML and BSC back out.

 

[nitro]

Quote from asiaprop:

I fully agree. Nitro, I think you are jumping the gun here. While I note your outrage and discontent with this corporate culture you also should respect that GS has not yet been convicted of any crimes. I

Agreed. It is not crime to be socially dysfunctional, nor is it a crime to be arrogant.

think if you are very honest to yourself then you will come to the conclusion that you wish GS fall because of jealousy (jealousy to also wanting to belong to the club, not its unethical part but the wealth part) and your natural drive to see the proud and arrogant punished.

I can tell you in all honesty that I am not jealous at all of GS. If you had said Rentec, I would have admited that I admire the firm, but I am not a jealous type of person for money. With women occassionally, but even then it is very mild.

My problem with GS is both intellectual and emotional exactly as I have written it. Any psychological analysis you do on me on that writting shoud start from the writting itself, not derivative of what you think I really mean. I am a really simpe and straightforward person and what you see is what you get.

I can't stand any work where they own you. I wish I had the quote from one of the LEH wifes. I will get it and post it later.

If you take a step back could it possibly be that you come to the conclusion that before you put Blankfein into the hot seat a lot of other ibank CEOs should be questioned? GS RELATIVE to other entities takes maybe the smallest fault in this crisis. Would you be able to agree on some of above made points?

I have already stated that there is lots of scum out there.

I believe a big reason why GS is seen by the public as being synonymous with this crisis is its large percentage of Jewish employees, its out-performance over most other banks ("we are smarter than the other"), and its smarts in placing its ex lieutenants in politics, and other power exercising functions. Every other firm could have done the same, every other advocacy could have done the same. From my 10+ years in institutional ibank environments I am personally convinced that the GS environment is more ethical and responsible than all the other banks and hedge funds I have witnessed. Thats my personal experience and I am ok others disagree with that.

I don't know about other people. I can tell you that it is not true for me. My ex-wif is Jewish. My daughter is being raised Jewish. The best man at my wedding is Jewish. I admire the country Israel and what it has done.

GS is first in line. Don't worry, more to come...

 

[nitro]

Quote from nitro:
...
I can't stand any work where they own you. I wish I had the quote from one of the LEH wifes. I will get it and post it later...

Quote from Karin (Mrs. Bradley) Jack:
On Wall Street, they pay you so much that they own you. You know? So it's different. They have your soul. You gave it to them for money.

From :

The Devil's Casino: Friendship, Betrayal, and the High Stakes Games Played Inside Lehman Brothers by Vicky Ward

http://www.amazon.com/s/ref=nb_sb_noss?url=search-alias=aps&field-keywords=The+devils+casino&x=0&y=0

 

[Trader666]

What about Goldman's role in instigating Eve to eat the forbidden fruit?

Quote from nitro:

GS needs to:

1) Admit that the excesses of all caused catastrophic detriment to the entire world, and that they participated blindly and wrongfully in the frenzy of cheap money by using sub-prime as a fiat.

2) [Admit] That self policing doesn't work for two reasons, one, that uncontrolled greed and people with no scruples can infiltrate any corporation, and they are not immune to it, and two, that if others are regulated in the same way, they aren't under undue pressure to make money at any cost.

3) Apologize to each and every client it did wrong face to face. Lloyd Blankfein needs to get on an airplane (if he even survives this, otherwise his replacement) and build relationships again, and vowing to stand by their clients by putting them before themselves.

4) Genuinely apologize to the American people for their role in this catastrophe, vowing never to be on the wrong side again. Thanking the American people for the help GS received through tax payer money would probably go a long way towards winning most hearts, but it is not clear at this point.

And then take the medicine of whatever massive fine and jail time comes their way.

 

[nitro]

Quote from Trader666:

What about Goldman's role in instigating Eve to eat the forbidden fruit?

Is the analogy you are trying to make is that Goldman Sachs engages in clandestine operations against it's customers? A more apropos analogy in that case I think would would be:

Perhaps future generations will look on the Trojan Horse symbolism as, "Beware of Goldman Sachs bearing gifts in the form of advice" ?

http://www.mcclatchydc.com/2009/11/01/77791/how-goldman-secretly-bet-on-the.html

 

[Trader666]

If you want to get melodramatic, a witch hunt is more symbolic.

Despite the hysteria, the biggest "smoking gun" so far is the SEC's puny political persecution. So it still looks like Goldman's spokesman accurately summed it up in the article you linked to: Goldman "had no obligation to disclose how it was managing its risk, nor would investors have expected us to do so ... other market participants had access to the same information we did."

Quote from nitro:

Is the analogy you are trying to make is that Goldman Sachs engages in clandestine operations against it's customers? A more apropos analogy in that case I think would would be:

Perhaps future generations will look on the Trojan Horse symbolism as, "Beware of Goldman Sachs bearing gifts in the form of advice" ?

http://www.mcclatchydc.com/2009/11/01/77791/how-goldman-secretly-bet-on-the.html