Darrell Issa Demands SEC Inspector General Investigate Timing Of Goldman Settlement

Tyler Durden's picture

More as we get it.

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MsCreant's picture

Butt trannies is sooo lovely....We can'ts tears ourselves away, no we can't....

Joe Davola's picture

Bankist bastard!

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

docj's picture

And thus today's ZH false-dichotomy Republican/Democrat food-fight will begin in 5... 4... 3...

homersimpson's picture

If anyone wants to throw donuts, please let me taste them first. Thank you! Mmmmm.. donuts...

NOTW777's picture

oh great. does this mean another David Fiderer

piece calling Issa a liar

Blano's picture

How can the SEC investigate it's own settlement??  Just curious.

plocequ1's picture

Another Dog and Pony show. How fucking obvious. The NWO sure likes to put on dramas. I've seen this movie before.

carbonmutant's picture

That press release picked a lot of pockets this afternoon...

Ragnarok's picture

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...

NOTW777's picture

hilarious - please show nesto's face. maria ignoring AMZN getting murdered.

back to the eurozone growth story and fab tech earnings

Ragnarok's picture

AMZN is getting pummeled!

Chemba's picture

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.

Waterfallsparkles's picture

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.

John_Coltrane's picture

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.

ZeroPower's picture

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 $

Bartanist's picture

One would have to assume that these options were "reported" and not just the backwater of black pools and all.

snowball777's picture

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?

 

lolmaster's picture

david fiderer ... we know your name.

agrotera's picture

...demands Inspector General to make sure the public has transparency on all the funds that were cleverly stolen by the banking cartel...