Dick Bove Cuts Goldman To Sell, Lowers Price Target From $163 To $120

Tyler Durden's picture

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Thomas's picture

Booyaa, bitchez!

XenoFrog's picture

Expect a "record" fine that will end up being 1% of what they made from the greatest fraud in world history.

Thomas's picture

In a death by a thousand cuts, you have to count the cuts.

rocker's picture

Only if Bernie Madoff or Dennis Kozlowski get to do the cuts. Then I will believe in justice for all.

The best day in my life will be to see Lord Blankfien and his cronies in Jail. 

Xibalba's picture

"end up being 1%"  ----- you forgot the words 'less than'. 

bonddude's picture

Later, he was seen hanging around a Port Authority john...doing "research."

Josh Randall's picture

Short those SQUIDS

Whatta's picture

chances are the squid is hedged against itself at this point. GS has shorted all available GS shares....no nekkid shorts allowed here.

idea_hamster's picture

I'm worried that Matt Taibbi is going to Guantanamo for endangering our
Zombie-locks recovery.

The Profit Prophet's picture

I'm worried Matt will either be "found in the woods", or become the victim of a mysterious hit and run.

Take care Matt.....you are a braver man than I.  Please continue to persevere - you are one of the few heroes of this entire tragic affair!

T.E.I.N. everyone!

oogs66's picture

I'm worried that I agree with Bove

lizzy36's picture

Bove is a Moron.

But if the dude makes a million idiot remarks, one is bound to actually make sense. Law of averages.

Expect a reversion to Bove Moronic mean shortly.

bobby02's picture

Amen. If you invest on his recommendations, you deserve the losses you get.

 

Meanwhile GS is $144. Buying opportunity? Do you want to rage on about GS's criminal/moral/philisophical/ethical lapses or buy best in breed at a bargain price?

oogs66's picture

is that you Jim Cramer?

homecinemax's picture

Fines are a joke. Until one of the big cheese goes to jail, they will keep on playing the same game.

Urban Redneck's picture

MAKE THE SQUID SQUEAL!

At least until Holder arranges for a $1 billion pardon sale on Barry's last day in office.

John McCloy's picture

 That new Taibbi article is a grand slam and his best to date illustrating the fraud. It connects that dots that Birnbaum among other perjured themselves before Congress. The real question is why are DOJ seeking indictments against MLB players and not a cartel that has stolen billion in taxpayer dollars by design?

   There is a reason that lady with the scales wears a blind fold. This entire government has been given an order from the top to allow the wealth of our citizens to be stolen.

Johnny Lawrence's picture

The real issue is why Common has been invited to the White House.  Get your priorities straight, John.

riley martini's picture

  Goldman employees filled most of the Oblamers cabinet positions , other cabinet members were picked by goldman some from municipal gov. where some the major fraud and theft occured ie. King County WA . Goldman must have one hell of blackmail file on Oblamer or Oblamer is just as corrupt or weak . They are just stalling if enough tine goes by the inside fascist will get a free pass, some of those case are over 5 years old.

tired1's picture

I am puzzled by the politics of this action. As I posted yesterday, I doubt that Levin's panel is motivated by acting for the public good (and was junked as a trol). Is this action - lying to the Senate too big an issue to contain and must be acted upon? Was Levin's ego bruised by being lied to?

I'm glad that Taibbi is shining the light on GS but dont understand the underlying politics.

williambanzai7's picture

Bove and Blankfein are related.

Whatta's picture

it is gross. I...can't...look...away....Damn...it's...got...me.

Dr. No's picture

I dont blame Bove for the blown call on Lehman.  I mean bail-outs were happening left and right.  Hell, I remember buying C calls that Frdiay KNOWING they would be bailed out.  Bove, like everyone else, got stiffed by the non-bailout of Lehman.  The only ones who knew Lehman would not be bailed out were in the conference room with Hank Paulson buying puts.

ToNYC's picture

 

What kind of player sits down at a table where they change the rules  frequently?

Dr. No's picture

I agree, but the sounds, the lights, and the thrills are all engineered to get you to sit down and plop down your money.  I am only human.  God give me the strength to only wager what I can afford.  Where is the drink lady?

SilverDoctors's picture

Can NAFTA Explain the Mystery Gold Shipments Smuggled Across the US/Mexican Border?

http://silverdoctors.blogspot.com/2011/05/docs-thoughts-on-case-of-myste...

Long-John-Silver's picture

It's to pay for all the weapons the ATF shipped to the drug cartels.

chubbar's picture

The courts will do nothing, it's all a big scam.

OT but heres a copy of a lawsuit against the Social Security administrator for Freedom of Information violations filed a few months ago.

He won't allow a review of a Connecticut Social Security number that is used on the Draft registration of one Barry Soetoro and originally issued to a woman born in 1890 and died in 1982.

Apparently this registration was found to be illegally backdated from 2007 (when ole Barry was lining himself up to run for President) to 1980. This uncovered by a Scotland yard investigator. Ole Barry is linked to several different SS #'s over the years but this one is used since 1980. It's a short document but an interesting read. 

Anyone want to guess whether this will go anywhere?

http://www.scribd.com/doc/49342286/TAITZ-v-ASTRUE-1-COMPLAINT-against-MICHAEL-ASTRUE-dcd-04503303513-1-0

StychoKiller's picture

The Social Security Administration, in a rare fit of frugality, decided to recycle SSNs -- some sort of green agenda, years ahead of its time!

John McCloy's picture

I maintain that if this President wants a prayer at re-election someone is going to have to go to jail. Those subpeonas are about to come flying out and under deposition and the race to cut deals beings you are also going to find out something else.

  Not only did Goldman design these products to rid their inventory, not only was 50%+ of their risk betting against a market collapse you will find out that they were the ones starting the rumors of insolvency and short attacking all of their competitors in conjunction with using their CNBC captures to spread the fear. I would be nice to see their transactions in the months leading upto Lehman. 

  The same magic being used to bring the markets up was being used to trash stocks and futures across the board.

SheepDog-One's picture

Problem is, any Wall St bigwig gets the subpoena and any of em can totaly take down clowngress, you know the DIRT they all have on each other??

John McCloy's picture

  I have to give Levin credit for attempting to do what others could not. Wall Street indictments would be nice campaign fodder for 2012. It only takes a few honest pols and prosecutors but once the knife falls these guys are going to turn on each other Valachi style.

tired1's picture

I find it inconceivable that Levin, et al are acting at face value. There must be something more devious and self serving behind these actions.

chubbar's picture

What if a Goldman "takedown" is part of the plan? What if they arrest/sentence a few guys to do some easy time (hundreds of millions awaiting them upon their release to go along with the scam) with a wrist slap fine for the Corporation while making a big enough deal of it to drive the stock price into the toilet. Then the goldman sachs boys buy all the stock back for pennies on the dollar and takes it private again? They will be right back in business and have made a round trip on their stock worth billions.

tired1's picture

I admire your though process.

LRC Fan's picture

Don't hold your breath on anyone going to jail, except maybe Matt Taibbi or Tyler.  Fuck Obama, fuck Congress, and fuck the rest of the government. 

TradingJoe's picture

Dickie Dick, Dickie Dick, what a prick! He goes, where the wind blows, or some Tampa whore!

TideFighter's picture

Look for a special GS stock offering to high net worth clients from the GS Cayman Islands office. Why do I think this time is different? Kudos to Matt, I read him religiously. 

undercover brother's picture

Chances are if the feds fully prosecuted the banking cartel to the full extent of the law, it would uncover the nastiest can of worms ever as the banksters scramble for cover;  one that no politician wants uncovered, especially those on the senate banking and finance committee.   Watching that unfold will be fun indeed.

willien1derland's picture

UB - Great points raised - my suspicion (& I am certain yours as well) is that the amount of collusion between Goldman Sachs & the Federal Government is probably extensive - If they prosecute Goldman Sachs I am certain the collateral damage to the Federal government would be very significant - time for the Vampire Squid & the crony government vipers to be prosecuted -

buzzsaw99's picture

If Bove is cutting the squid it must be serious.

willien1derland's picture
Goldman Sachs must be prosecuted, period - Rolling Stone's Matt Taibbi has done an excellent job formulating & promoting the evidence that all of the other MSM outlets IGNORED (thanks TD for posting his works). Matt Taibbi  work is strong, honest, & well researched - My great respect to Mr. Taibbi for this integrity, commitment, & effort - also Sentors' Levin & Coburn need some KUDOS here as well - they represent TRUE leadership in a den of vipers - but NOW the ball is in the Depatrment of Justice's court - if they do NOT bring charges - we the people need to raise our objection in the strongest terms - we are either a nation ruled by law OR we are not - it is binary issue - no grey here - prosecute Goldman Sachs or Justice is America will be non-existent
buzzsaw99's picture

Taibbi will probably go down in history as the greatest journalist of the 21st century.

willien1derland's picture

Absolutely Buzzsaw99 - Well said - Tiabbi deserves the Pulitizer & will probably be spoken of in a smiliar sentiment as Woodward & Bernstein enjoyed after their work on Nixon - 

buzzsaw99's picture

BRK-A below 20K! :bitchez:

willien1derland's picture

Nice 'Bitchez' comment - If I were an Olympics judge - I would give that a 10!

FreeNewEnergy's picture

Bring it, Holder! Bring the giant squid to justice, you spineless piece of shit.

Bob Sacamano's picture

It is odd that when someone widely disrespected on this site (Bove) comments about a company widely disrespected on this site (GS), that it is worthy of a post. 

Presumably there just is no good content available, but there is a compelling need to "post something."  Much like cable news -- too much air time for the real content available.  

StychoKiller's picture

Feel free to come up with content at any time -- down the hall, second door to your left -- one muckrake each!