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Darrell Issa Demands SEC Inspector General Investigate Timing Of Goldman Settlement

Tyler Durden's picture




 

More as we get it.

 

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Thu, 07/22/2010 - 15:52 | 484206 MsCreant
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Butt trannies is sooo lovely....We can'ts tears ourselves away, no we can't....

Thu, 07/22/2010 - 15:53 | 484207 Joe Davola
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Bankist bastard!

Thu, 07/22/2010 - 15:54 | 484210 ZeroPower
ZeroPower's picture

Insiders knew about that since the big 2 pt drop around 1045 when the selloff started - its evident, especially on today's green shoots day.

Investigate that, assholes

Thu, 07/22/2010 - 15:55 | 484213 docj
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And thus today's ZH false-dichotomy Republican/Democrat food-fight will begin in 5... 4... 3...

Thu, 07/22/2010 - 16:05 | 484239 homersimpson
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If anyone wants to throw donuts, please let me taste them first. Thank you! Mmmmm.. donuts...

Thu, 07/22/2010 - 15:56 | 484218 NOTW777
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oh great. does this mean another David Fiderer

piece calling Issa a liar

Thu, 07/22/2010 - 16:00 | 484230 Blano
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How can the SEC investigate it's own settlement??  Just curious.

Thu, 07/22/2010 - 16:10 | 484256 raki_d
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the same way SEC investigated its own GS

Thu, 07/22/2010 - 16:15 | 484269 NOTW777
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+++ LOL

Thu, 07/22/2010 - 18:39 | 484568 GS is short Gold
GS is short Gold's picture

haha, very good.

Thu, 07/22/2010 - 16:01 | 484232 plocequ1
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Another Dog and Pony show. How fucking obvious. The NWO sure likes to put on dramas. I've seen this movie before.

Thu, 07/22/2010 - 16:01 | 484234 carbonmutant
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That press release picked a lot of pockets this afternoon...

Thu, 07/22/2010 - 16:07 | 484249 Ragnarok
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OT: Venezuela breaks relations with Colombia

 

War dogs circle. Iran, North Korea, Burma, Venezuela.

http://edition.cnn.com/2010/WORLD/americas/07/22/venezuela.colombia/#fbi...

Thu, 07/22/2010 - 16:14 | 484266 NOTW777
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hilarious - please show nesto's face. maria ignoring AMZN getting murdered.

back to the eurozone growth story and fab tech earnings

Thu, 07/22/2010 - 16:18 | 484272 Ragnarok
Ragnarok's picture

AMZN is getting pummeled!

Thu, 07/22/2010 - 17:18 | 484403 carbonmutant
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AMZN at $99 is a buy.

Thu, 07/22/2010 - 16:26 | 484289 Chemba
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Rep Issa's hypothesis is that it is too convenient that Democratic SEC board members voted to charge Goldman Sachs on the same day that FinReg was introduced into Congress, against Republicans, and that Democratic SEC board members voted to settle with Goldman Sachs on the same day that the FinReg was passed, or thereabouts, also against the Republicans.

I.e., his hypothesis is that the SEC charge against Goldman Sachs was nothing more than political populist posturing by the socialists, errr Democrats, to compell Congress to pass FinReg, as well as a demand for protection money from Goldman Sachs.

 

ZH's hypothesis is that Goldman Sachs charged itself with fraud, using its puppet SEC subsidiary, in order to distract attention from the fact that it is committing fraud, and that Goldman Sachs was massively short GS stock on the day it charged itself with fraud, and that it was massively long GS on the day it settled with itself, and that Goldman Sachs made USD 100 billion off these trades, vs the USD 0.5 billion fine, and that the 99.5 billion difference will be split between GS employees, the SEC cronies, the Obama 2012 committee, and Bernie Madoff.

Thu, 07/22/2010 - 16:29 | 484302 NOTW777
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+++ LOL

Thu, 07/22/2010 - 16:49 | 484346 StateofFraud
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I'm with the ZHypothesis. ++

Thu, 07/22/2010 - 17:13 | 484394 Bankster T Cubed
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me three

Thu, 07/22/2010 - 23:12 | 484890 AccreditedEYE
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me 4

Thu, 07/22/2010 - 16:45 | 484338 Waterfallsparkles
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I think that GS and their Traders had prior knowledge of this settlement.  I also believe that they Bought Calls on the News which was announced on or about option experation.

It is also my opintion that GS worked with the SEC to time the anouncement around option experation. I believe they bought options which paid of extremely well.  I also believe the Money they made on Options covered their entire fine.

I am glad that this is being investigated but I do not expect anything to come of it.  As Goldman always wins.

Thu, 07/22/2010 - 19:12 | 484626 John_Coltrane
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I just checked on the open interest in GS Calls for July (now expired).  Over 200,000 contracts expired worthless at strikes above $150.  That represents 20,000,000 shares.  So, doubt anyone made much money on GS calls (unless they sold the calls).  Looks, like people owning puts did a lot better.  So, no one could have made enough to cover a fine by buying July OTM calls on GS.

Thu, 07/22/2010 - 21:35 | 484802 ZeroPower
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GS' desk is known for their put writing. Hence why close to OpEx you usually get big pumps to leave the option buyers with 0 $

Thu, 07/22/2010 - 22:13 | 484838 Bartanist
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One would have to assume that these options were "reported" and not just the backwater of black pools and all.

Fri, 07/23/2010 - 00:05 | 484928 snowball777
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Weak; what's his fucking black helicopters theory this time?

This Repug ass-hat is your hero or something?

How many of the rand()*300 million dollars in Issa's coffers are on that pile of debt from Homeland Security spending, Tyler?

That a tasty choad?

 

Fri, 07/23/2010 - 02:47 | 485010 lolmaster
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david fiderer ... we know your name.

Fri, 07/23/2010 - 07:11 | 485053 agrotera
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...demands Inspector General to make sure the public has transparency on all the funds that were cleverly stolen by the banking cartel...

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