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BofA Downgrades Goldman On Federal Probe
Not to worry though, other blogs are allegedly saying the criminal case against Goldman is a total "non-event." We'll go with them over a major bank ripping into a major constituent of its own ponzi kabal any day.
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First rat off the boat as it's sinking.
Ok, I thought the Squid was merely taking a slap on the wrist for the Regime to help it advance its FinRef agenda (to wit Blankfein's mutliple assertions during his testimony that regulation would be good for the industry) ... is this for show, or did they really get thrown under the bus?
It's still kabuki theater, they'll just have to manage a few unintended consequences along the way and it's mission accomplished once again.
What if... Obama is betraying the banksters?
BTW: here are some interesting anagrams on Goldman Sachs
Land Scam Hogs
Mss Clad Hogan
Slam Dong Cash
And some for Blankfein
Elfin Bank
And this also using first name
Fondly Bank Lie
DAMN CASH SLOG or MAD CASH LONGS for the lovely GS
It's funny, but I always thought Goldman were being put out there as the pantomime villain while the real players skulked behind the scenes. I would say it is both for show and for real. The masses need someone to blame, as long as it isn't the hidden Rothschild cabal. Goldman would be a small sacrifice.
It is as I thought--there isn't really a conspiracy going on here so much as there are a large number of actors with similar interests. The climate has changed now, however, with the public having turned against the banks, especially GS. The politicians will take advantage of this to the fullest extent possible. The lobbyists might be able to convince them not to, but in the end, the pols will do whatever they need to to save their own skin.
The real problem is the pols, not the banks. I wonder if the public will ever truly understand that?
The Conspiracy Of Like Minds. No need for a central plan, once the central elements of the belief system are in place. They will feed on their own, if the opportunity arises and there is profit to be made.
The pols/Rahm are looking head to November mid-terms. There can be no other explanation for the sudden awakening to the necessity of law enforcement in the face of openly visible fraud. Lots of players yet to be questioned, though. Goldmand should not swing alone for all of this.
Blankfein will have to resign, though he will resist.
I always love reading the disclosures at the end of these blow jobs. I feel so dirty getting the BJ, only to realize I'm clean by comparison.
I believe this is evidence that it is indeed material. Maybe Goldman needs to now announce all investigation notices so we can understand the risk investing in them represents.
Wait, wait ... that would potentially start a "bank run" and as it's TBTF, that makes it a national secuirty top secret.
Silly investors.
other blogs (and certain cable channels) are staffed by idiots and morons.
Any specific cable channel in mind? ;)
CNBC, and specifically Joe "the Mole" Kernen, has absolved GS from any guilt and is proceeding to discredit any and all detractors, especially the "politicized" SEC and the media-conscious, campaigning, ugly, no-nothing, grandstanding, uncouth, ill-informed, libelous, moronic, bunch o'senators on the hearing panel at this week's Squid frying. I love the smell of fried Squid any time of day. Rant off.
Joe Kernan is painful to watch. That entire show has become a giant pandering session. I liked the part where they made such a big deal about how the congress doesn't know how a market works or the role of a market maker. I cannot wait to watch the day the real truth gets exposed (if ever).
Heck Goldman even brought out Bill Clinton to stump for them. I bet that cost a few BJs, er Benjamins.
Of all the idiots on CNBC, Kernan is by far the biggest.........the guy can hardly put two sentences together.
CNBC reporters lick the big money boots and think they are part of the elite moneycrowd. Kinda like people suddenly becoming fans of winning teams, because they want to be a winner.
I used to watch this show after getting laid off and then getting laid up with a broken ankle (the depths of depression). Now I can't stand it. I happened to see a bit of one segment this week where they had a union guy on. The smirking amd smarming by Mr. Kernen & Co. were disgusting ("you at least agree that labor costs are killing US corporations") or some such crap. Then they made a comment about the head of the AFL-CIO has to be interviewed on the street because he is not allowed inside the NYSE or something. I almost blew bran flakes through my nose...
S&P downgrades from hold to sell
Know counterparties, know risk.
No counterparties, no risk.
Disintermediation, bitches!!!!!!!!!!!
Blodget gives really good head when it comes to spinning GS
Got SKF?
BANG! just got me some July $25 calls for about a buck a piece. Looking at some longer dated now. let this fkr blow!!
HAHA, remember when the banks were upgrading each other like crazy, now they will start downgrading each other, and the collapse begins.
It appears right now that strong data: GDP, Chicago PMI, Sentiment, are the focus today. I think the GS and EU situation are a little long in tooth for investors. Focus on the present situation shows stronger growth and a consumer that's willing and wanting to continue spending.
Of course you do.
Of course you do.
You're cute when you're a jackass, Harry.
continue spending... on food.
"Focus on the present situation......"
This is why they put blinders on some race horses. You are simply parroting what the mainstream media and most of the flow want to hear and you are correct, until realty intrudes upon the narrow focus, the trend is up. Taken from a strictly amoral don't give a shit about tomorrow or anyone else point of view, you are 100% correct Harry.
You are a tool of someone else who is a tool of someone else and if the only thing that counts in your life is what you can make in dollars and cents and how much you can keep in the end, you and others like you are exactly why we are in this situation. As long as "they" want to cheat, lie and steal, I might as well pile in for my piece of the pie.
At some point Harry, people like you will have to face someone like you, only you will be on the receiving end of the annal insertion. I hope they at least use K-Y.
For sure Harry, thanks for pointing that out. Things are really good now.
Hey! It's Jimmy the Troll!
You make me feel so good, Jimmy!
Good thing I don't invest on "feel" though.
Or coincident indicators.
Harry: where is the money coming from? How will the consumer pay for a surge in consumer spending? A secular change has occurred, do you agree?
"What? Me worry?"
--Alfred E. Newman
There is truly nothing more idiotic than anyone in the media judging any charges/suits in any way shape or form unless they have all the evidence in front of them. Yet somehow these fools seem to think, without knowing what evidence the prosecutors have, that they can call the case.
Now those folks are morons.
+1
But Harry, you have said there is nothing of substance to this suit and you haven't seen all the evidence.
No, I've never said that. I don't comment on legitimacy of the suit since I (or anyone else for that matter) has seen the all the evidence supporting it.
What I said is, the strong economic data today seems to be trumping any bad news regarding GS.
Trumping bad news? Not in GS's sake. They're cliff-diving. And remember, where goest GS, goest the nation...
The hard-deck on this is S&P 1,200. There'll be no engagement below that. Move it!
I didn't say "today", simply that you have commented on the suit. In the days after the suit was announced, you've said, usually under an article infering Goldman was guilty, that there wasn't much here. And besides, the market would ignore it.
I'm not saying you came right out and claimed there is nothing to the suit. You never said that and I didn't claim you did. But you have said there wasn't much to it and it was always in conjunction with your main comment, that the market would ignore it. Because the market has ignored it for the most part, you may feel that being correct justified what you said. Or you may feel you weren't commenting on the suit but the market reaction. Spin it any way you want.
(I know I've posted this before, but just a few more times for anyone who might have missed it yesterday:)
Before responding to "Harry Wanger", please be aware of just whom and what you are dealing with in this person:
http://www.minyanville.com/businessmarkets/articles/AAPL-apple-gm-psycho...
His real name is James Kostohryz, and he is here posing as a troll in dishonesty and in disregard for the fundamental purposes of this forum. He is NOT posting here in good faith, but is purposely antagonizing those with independent, anti-establishment views and opinions for his own selfish and cynical purposes, as part of a self-styled study on "the psychology of permabears".
He believes that anyone who opposes the current widespread fraud, corruption and rampant lies within our societies and governments are "utopian" and unrealistic, pollyannish dreamers.
And for those ZeroHedgers who are advocates of sound money backed by gold, this bankster shill is already out there with one of the most disingenuous, dishonest pieces of pro-establishment propaganda on the topic, expounding on how such financial integrity is "impossible", and merely "the rants of an ideological fringe":
http://finance.yahoo.com/news/The-Gold-Standard-Solid-as-minyanville-285...
Please do NOT respond to this reprehensible troll, here or anywhere else on ZeroHedge. He is NOT here in good faith, and should be shunned! Responding to him only plays into his cynical hands and feeds his twisted game.
I just like to laugh at his ignorance. Maybe he can write about that someday.
The lawyers should make out like bandits on this one. You have two aggrieved parties with the stakes jacked due to reputation risk, Goldies' is obvious but a bad-ass prosecutor can quickly become a girly man if the Feds 'lose'.
The leak on the 'criminal probe' and by the way no financial firm has survived criminal charges I believe,'cept those that agree to deferred prosecutions, is a message job right out of the Sopranos. The Federales are comin' heavy. Threatening Goldie with predicates that might make them guests of the state for eating alone...
Of them an example must be made.
When public awareness of the systemic gangrene sets in, simple survival tactics dictate that you cut off the infected arm/leg to save the remaining fraudulent body. At best, they aren't fixing anything, just saving the main body by way of strategic amputations.
This infestation has been around since Roman times (and probably before but just not as well documented) so who cares about GS in the big scheme of things.
"survival tactics dictate that you cut off the infected arm/leg to save the remaining fraudulent body"
This is how I see it. The Central Bank and it's globalist "owners" need to create a scapegoat. The squid is everyone's favorite. Bread and Circus's for the masses. Meanwhile attention is distracted away from the king-of-parasites, the Fed. In fact they are quietly weaving themselves into the "solution" in the form of "consumer protectors". The cleverness of these reptiles is beyond the pale...
http://www.youtube.com/watch?v=S8H2FIf1oH4
Harry let me help you to your own msm CNBC bullcrap: "Stocks Slip as GDP, Sentiment Disappoint". If there was no Goldman+Greece cocktail right now (with Goldman part of it prevailing atm) - then we maybe had
even better:
http://www.youtube.com/watch?v=xsEkEVN2LNQ
Gold and silver will be king soon. Very soon.
FABRICE TOURRE WEEKLY SELF EVALUATION:
http://williambanzai7.blogspot.com/2010/04/fabrice-tourre-self-evaluatio...
Hi pot, meet kettle.
Reminds me of sharks in a feeding frenzy - if one gets injured in the fray the others will attack and eat it.
Wouldn't it be fantastic if the Mark of The Squid on a resume became a liability in finance AND politics? I know, I know...I hope for too much. The modern day witch hunt would be sweet though. Enough is enough, let's break these scum bags. (Simon Johnson for Treasury Secretary)
I hope many people took the advice of the brilliant banking Analyst Dick Bove two weeks ago and bought the Goldman Dips!
Could there actually be a run on GS? The stock seems to indicate that may be a possibility. Let's unwind that bitch and let about a trillion in assets hit the streets.
+$13 billion. Awesome.
Calamari here we come.
Ya'll are a bunch of optimists. If the KGB got to pick a president, wouldn't Barry Hussein make the short list?
I have to doubt they would put Goldman out of business totally... People like Little Timmy need to have a few revolving doors through which to walk. In my past life in New York, we hired the comptroller of the currency for roughly $6m per year ... it is how the game is played. If you put too many of the TBTFs out of business, there are too few remaining chairs for these guys to jump into once their government music stops playing. This is one of the reasons they bent over backward to keep Fannie & Freddie open, but you need a few that have some semblence of private sector to give an air of legitimacy.
OTOH, they did push Andersen over the edge and shrunk the big X down to the big X-1, but bear in mind that while the Big4 feed their captive regulators well once they tag up to the private sector base, they don't pay nearly as well as the banks. But that is where SEC types land.
Same for the Automakers ... their salaries are good for the union types, but not the finance types.
That is pretty much why there are more than a few banks that are TBTF ... they are too needed in the next life to be allowed to fail.
I might buy some of those calls myself.
Fried "calamari" yum! Order it up.
I seriously doubt there's any long-term loss to the system if one or all the "TBTF"s were to crater, any more than taking-out the 5 biggest "ice" dealers in town would disrupt the meth supply for long. Rest assured of ranks upon ranks of wannabe pirate princes waiting for their chance to Master the Universe and Show Us How It's Done.