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Did Goldman And Tourre Break FINRA Regulations By Not Reporting "Fab Fabrice's" Wells Notice Receipt?
Yesterday we praised two NYT reporters for having uncovered the mess of the Goldman CDO scandal first, and we concluded, erroneously now it seems, that the SEC merely piggybacked on their disclosure to file charges against Goldman. However, as Reuters' Matt Goldstein reports, Goldman had received a Wells Notice from the SEC as far back as "six months ago", which predates the Morgenson and Story December 24 story. And as the SEC case would likely have taken at least one year to build up, we are confident that the SEC began their investigation into Goldman and Paulson well prior, likely in 2008 if not earlier. For those unfamiliar, a Wells is basically an advance warning that the recipient will be a target of an SEC investigation. We do not anticipate that anyone aside from Tourre (who, being just 27 at the time of the alleged transactions, in no imaginable way acted alone) and Goldman's legal counsel was aware of this development, although with allegations that Goldman was dumping various security holdings in advance of the announcement one can never be certain. One key line of questioning has emerged as a result of this disclosure: why was there no official notice anywhere in the public record of this Wells Notice receipt? The precedent is murky when it comes to corporations responsibility to report Wells Notice receipts: certainly, Goldman had no mention of this even in its March 1 10-K. What is however without question, is that Fabrice Tourre, who as we reported yesterday, is a registered broker dealer, has a responsibilty to modify his/her U-4 within 30 days of the Wells Notice receipt, yet as of yesterday there was still "no disclosure of any event about this broker." Assuming Goldman received the Wells 31 days ago or more, it begs the question did the firm, by allowing Tourre not to report the Wells Notice, break Finra regulations, and just why it believes it has the facility to do this?
Below is Tourre's still unupdated CRD form with Finra, which still show neither a pending civil case, nor any report of a Wells Notice receipt.
More relevantly, we are keeping a close eye on the CRD form of Mr. Tourre's supervisor, Jonathan Egol, for any such pending updates. We have a sinking feeling that when the scapegoating begins in earnest, he will be next on the chopping block.
We are very curious to hear what Goldman's justification for this "waiver" of non-compliance with statutory regulatory requirements will be.
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simple - the rules you point out are for the rest of us. GS makes its own rules.
I don't think you have to update a U-4 for a Wells Notice. But now that charges are filed, it must be updated and it will be, I'm sure.
Looks like the NASD reporting chart above has a different opinion on that, but who knows what the real practice is. Look up "lax" in the dictionary and there's a picture of SEC broker-dealer enforcement.
ned: you pegged this!
If FINRA sent a Wells Notice, it needs to go on the U-4. In this case, I don't know that it was FINRA that sent the Wells Notice, I think it was the SEC. Even then, if FINRA gets involved it starts with a Wells Call which is not a formal charge and doesn't go on the U-4. Not until FINRA sends a Wells Notice is the duty to disclose on the U-4 required.
Dont' quote me since I can only hope I'm remembering this right. I'm not a compliance lawyer.
Any material event in your life must be reported on your U-4 and that includes more than just securities related. If you sued for breach of contract or you file for bankruptcy or you become a member of the board of directors for your local non-profit homeowners association, it must be reported on the U-4. There is no splittinghairs as to who filed what against you or, as you say, if it wasn't FINRA, you're in the clear. There is no wiggle room.
I don't know how long it has been since you updated your U-4 or if you ever had a U-4 but the rules are very clear and the rules have been progressively tightened over the past 10 years. Any material activity, often not even having anything to do with financial, must be on the U-4.
i'm tryin to get an answer from a securties attorney on whether or not this was sufficient notice in the annual report, will let you guys know as soon as I hear back...
“GS&Co. and certain of its affiliates, together with other financial services firms, have received requests for information from various governmental agencies and self-regulatory organizations relating to subprime mortgages, and securitizations, collateralized debt obligations and synthetic products related to subprime mortgages. GS&Co. and its affiliates are cooperating with the requests.”
my attorney friend said a Wells notice is required to be disclosed with in 31 days. So if they were served 9 moths ago.. LOL@GS.
further more:
http://www.bowne.com/securitiesconnect/details.asp?storyID=1934
. Item 103 of Reg. S-K requires disclosure of "material pending legal proceedings," including "any such proceedings known to be contemplated by governmental authorities." An SEC investigation would not be considered reportable, the authors suggest, until SEC staff issues a Wells notice stating that it will recommend enforcement to the Commission"
Law Bitchez
i'm braindead from drinking heavily for all 7 hours of yesterdays met game, but i'm gonna dig into this as much as i can...
Goldman's view is that the Wells Notice was not material; so possible 800m disgorgement/fines is not material... hmmm
Thanks, Alienated Serf. Monday should be a hellish day.
hellish for some, maybe even hellish for me, but i'm sick of it all. i want the charade over asap. something needs to wake those in the sheepleverse up.
looks like a
multi-post!
hmmm..
black nepalese
OK...here's where I think we've identified the issue you're having.
LOL
No issue or problem. I prefer to think of it as great sex resulting in multiple orgasms. Though more rare in the male homo sapien, it's not unheard of.
As my wife likes to say, you came good? :>)
jealous!!
wow that was weird
same
multiple post went nuts on me
dp
dp
I believe you just set a record!
Not just a record for duplicate posts but an all time unintended supreme get-out-of-town Olympic record for dups. I stand in awe how many times the poor man must have hit the save button while wondering why the damn thing wasn't doing anything.
But he gets 100 points for the save. As I scrolled down, his surprised and confused comments in each duplicate post were priceless.
LMAO...I was thinking the same thing. Those were some lightning fast edits.
It was a beautiful save, that's why I had to make a comment!
Still LMAO, it gets better with each read...
Silence is Goldman....
04-16 22:10: Goldman Sachs (GS) says dissapointed that the SEC would bring this action related to a single transaction
because the less complicated something is, the nicer precedent it makes
That's Goldman's real worry here, and it looks like Germany, for one, is sharpening up the long knives
i want to know how much JPM made yesterday pulling the rug out on PM's just before a breakout?...is it possible this was a coordinated effort between the SEC, the govt, and some PD's to keep the lid on the metals again ? Is it just a political stunt? I really dont think this will amount to anything more than a slap on the wrist for goldman. theres too much goldman alumn that hold gov offices to believe that the SEC is truly going after goldman...i personally dont believe the motive behind the accusations....goldman pulls so much shit on a daily basis and yet suddenly the SEC wants to pretend to stick its nose in it?
I subscribe to that and in addition:
What if.... this was a GS ploy to palliate the critics who claim that GS gets away with murder?
What if....after a short interval, the SEC comes out and either clears GS (stock up 20%) or declares that there was not enough evidence? (Stock up by 10%)
What if this is a Obama charade?
Time will tell.
We are just the pawns. Fortunately we outnumber them and one day who knows?
JPM executive was running for what he thought was his life. http://www.reuters.com/article/idUSTRE63C5LO20100413
The money quote from the article link.
"He ran. He ran like a dog with its tail between his legs," said Bruce Marks of the Neighborhood Assistance Corporation of America (NACA), which helps homeowners avoid foreclosure. "He was scared to death because he doesn't really want to talk to homeowners."
I can't help but think someones made a huge amount of money on the difference in prices between when index options expired (opening print on indices) and when stock options expired (closing print of stock), for instance, by being long index calls while selling SPY calls. If the someones knew this announcement was coming, they made gazillions. I'd also like to know if AIG wrote the CDSs for the ABACUS CDO.
Short of anyone working for a bank or brokerage firm, there is not a single person in the United States who does not think that banks and brokerages are not a bunch of thieves with highly connected friends. It would do the Obama administration well to push this prosecution through about as fast as it pushed through GM and Chryslers' bankruptcy.
Can anyone name anything that Goldman does, that it does not make more expensive for everyone? Anyone? Ferris?
"Can anyone name anything that Goldman does, that it does not make more expensive for everyone?" Brilliant, if self-answering, question.
Your answer would be "no." Goldman, nor any other finance company, doesn't produce anything. Yet they make a profit. That can only happen if they make the exchange of money for expensive for someone else.
Finance is a great and very useful thing that makes many other things possible. It is not, however, a basis for the foundations of an economy. That's where we've gotten ourselves into trouble.
Well you knew this was coming to a head when Gary Cohn and several senior execs blasted Reid last week for biting the hand that fed the Democrats.
The problem is that the Democrats are desperate to get their failing ratings back and the need to find someone to blame for their bankrupt agenda.
This administration is going to have the same problem procecuting this as they did in trying to declare China "currency manipulator". Everybody's interests are too intertwined.
Spot on!
If they go after the Street in earnest, expect multiple high-level GTFO retirements to avoid getting strung up along with an avalanche of election cash for the GOP and a political bloodbath landslide in November.
You take a collapsing stockmarket along with rug-pulling of bankster campaign cash and you have the recipe for them to put serious obstacles in the way of this getting any bigger.
We need an entirely new, non-beholden government for this to have any chance of getting anywhere serious.
Remember that the opposition party doesn't care about the truth or challenging the financier elite except insofar as it gets them back into power whereupon they will maintain the status quo as surely as the "End the War" Democrap revolution in 2006 expanded it.
WELLY WELLY WELLS:
http://williambanzai7.blogspot.com/2010/04/well-well-wells.html
I'M SO FRAUDERY:
http://williambanzai7.blogspot.com/2010/04/im-so-fraudery.html
I wonder if Fabrice Tourre is taking singing lessons right now.
We shall see as the heat of this SEC suit begins to permeate through 85 Broad Street, and some white collars begin to sweat. It takes only one white-collar softie to crumble like feta cheese, and begin the toppling of civil and criminal dominos. Once the dominos start falling, the smartest rats in the room will trample over each other to be witnesses in hopes of leniency. The beans they spill are not confined to the case at hand.
It depends on who the prosecuter really works for. The law or the money.
You'll know the answer to that if you see a rash of retirement announcements from key legislators and any sudden Spitzering.
Sooner or later, it will be the goldsmiths versus the King. This tends to always lead to war of some kind.
slick willy selling out on his boyz! bad indicator for GS. king always wins. the peasants always lose.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aX1CAxJtU6X4&pos=2
they just moved to 200 West St. I don't see these rats breaking ranks. these are poison/plague resistant rats.
Thanks for the update on their new address. I'll notify America's Most Wanted.
i don't think rupert is gonna go for that
Line up some scapegoats and a media blitz. They will be able to pass any financial legislature reform bill, no matter if it reforms or not (which it probably will not). Read what they pass, its going to be a doosey.
This GS problem will kill about 50 birds with one stone.
The bottom line here is that there are no good guys in this fight.
I would love to know what, if anything, moved senor PP squared to talk with the enemy??
Perhaps it was the Wells notice?
Just a shot in the dark...
You won't get this kind of information anywhere, will you? the depth and scope of the financial information here is second to none.
great work!
Are you guys blaming Tourre guy for his actions? It's ridiculous, he is just stupid young guy who did his job! There was nobody to supervise him? He was just freelancer with great ideas how to ripoff investors? Just give me a break, he was hired to do those things, and I bet he had somebody watching his actions and giving stamp of approval, they were according to rules and satisfied his superiors and the price was VP position for some ripoff desk.
Did you read the post before typing that?
Oh, now I remember, you're the one who posted this yesterday on the Goldman thread:
"I know that I'll be junked at once but what the heck. Is there anybody than Jewish people involved in financial life of US? And who is prosecuting vilains? The same guys?"
And you got nine junks--perhaps a new record! But the day is young.
Read the fucking posts before you rant against them. After that, if you only know English as a second language, perhaps you could type into a word processor that teaches you basic sentence structure.
And finally, keep your racist nonsense to yourself--no breaks for you.
I like your posts in general, I wont attack them, I'm sorry and I admitI did not read the post but what you want from my post about Goldman, I don't understand. Would you like to change statistics, facts of life and other things (my grammar, sentence structure in particular!). If you have FED chief and tresuries secretary+thousands of other dignitaries from the same ethnic group and when this particular group occupies most of the important positions in finacial world is with contrast in with only 2% of population, I may have some questions. If you look at last 15 years of history of Tresury Dep. tell me what you see, what about FED? And don't give me you racist lectures, please, maybe you are politically correct or you just want to show how smart and independent your thinking is in comparison with mine.
One thing more, you are as good as all media, which you critisize so much.
You're trying to discredit my views on the base of my knowledge of English language, my racist approach and the number of junks I got on my post, do you have any more problems? I don't junk any body's post because I understand that they may have different views than mine, and if they have that's good because it's basis for discussion, if we all have your point of view there is nothing to discuss anymore. Thank you anyway for lesson and I try to use word processor next time, mine friend! I understand that you are the one who can voice your opinions because your language is perfect and I see you as future leader with good qualities to silence anybody who got different views than yours.
Feel free to read some of my previous posts on this very subject. I believe ZH should be well represented by diverse opinions on the financial markets. I don't think it serves Tyler et. al. for it to be a one-sided affair and destroys the credibility of the ZH family not to have a serious discourse (as well as some laughs) on the issues we face. We all learn from eachother here.
Mr Howard Beale
dear fellow shall i present you with a list of jews in power in the usa? You dont see a problem with that?! What if all those jews were black? I bet you would see it as a problem them.
One does not need to be a racist to see whats wrong with this picture. I was never a racist, but facts and figures are beginning to persuade me.
I say paint them all green. Its appropiate.
For both of you, regarding Jewish people in places of financial power, I don't think I am wrong in saying there are just as many men in high power of other faiths involved. I am not Jewish, I was raised to be colorblind, and I find it offensive (think Hitler!) to suggest that these people who are in high places got there because they are Jewish. Maybe they studied harder given they are children of the Holocaust and have worked even harder because of the general racism directed at them for centuries. I'm surprised at you MereHuman...paint them green? That sounds just a little too much like put em on a train for a nice vacation at Buchenwald.
I knew you wouldn't do it Howard so, I junked the junk for you.
LOL...thanks for the support.
Mr Beale, again you are using old tricks talking about Buchenwald, Hitler and and all those things I've never negated.
I just stated the reality! Do you understand it?
I'm tired hearing about Hitler, every time somebody wants to shut other side up uses the same argument, it's old, we have new generations, new ideas!
I'm not racist, I just stated that that ethnic group has much too much power, in media, military, financial and many other areas if you look at ethnic composition of US.
I absolutely agree that they are much more educated than average, but it is by design (?)(sorry for my language, you can put it in writing much better than me).
You cannot keep the whole world to keep their eyes shut because something happened 60 or 70 years ago. America has it's own problems with treatment of Indians, is anybody mentioning it?
You are bright man, just answer one very important question: why that racism was directed at them for centuries?
BTW the worst camp was Auschwitz in Poland.
At the same time 20 mln something Russians died in that madness, but who cares, they were communists, do you cry for them?
Yes, I actually do. And I cry for the genocide in any country, from Rowanda to Bosnia. Genocide is an unforgivable crime. Period.
partial list shapiro,greenspan geithner rahm
bernanke kohn warsh kroszner bernstein orszag
axelrod shulman gensler
www.anti-imperialisme.com This white anglosaxon would like representation also. Its not about racism, its about fairness and equal justice.
OK. Let's start with these two, Shit for Brains. . . Bush and Cheney. I could go on and add Reagan and Clinton. I could go on. . . Rockefeller etc. etc.
Then there is the most important one, your Mama.
Thanks merehuman,
I can present much bigger list and probably everybody can, they just afraid to say anything, it's not proper and unsafe to say anything. I'm not attacing Jews, they are bright and educated bunch but they are behind the shield of Hitler's atrocities and they using it.
Any ethnic group would use their power to further their influence, I don't blame them for that, I just question where interest of general populace of US lies.
keep piling them on (junks)and thank you for reading.
The folks i named are some of those who got us in this mess. Paint all crooks green, jew or otherwise. I am against dishonesty and crooks, its not up to me that they are jewish. Its just coincidence and good shooling.
If mr Beale had not been so insulting and thoughtless in his previous post i might have kept my mouth shut.
Boy dont the truth stink.
Howard,
Still it's not bad to get only 9 junks, I expected at least 20 considering the traffic on this site.
dear Howard. I am a german, not jewish, My mother was amongst those in the camps. You did not need to be jewish to be called such, or be treated as such.
I still say the jewish faith is over represented in our administration. If you cant handle the truth now, you will later when you finally recognize who the thiefs are presently stealing YOUR country from you. The facts are what they are, deny and junk all you like. I am in the habit of facing truth, your not. nuff said.
Wow. I don't think nuff said by any means. I am deeply sad for you with all sincerity.
My heart breaks for your mother's tragedy. It truly does. I am shaking at the thought of it, for I can never imagine what any non-Arian went through in those 6 years of attrocity.
But here are the facts:
The NASDAQ bubble had nothing to do with Jews
The mortgage meltdown had nothing to do with Jews
The 60 year credit bubble had nothing to do with Jews
None of our economic woes have anything to do with those of the Jewish persuasion. Just because there are people in power of that heritage it doesn't mean they started the problem. Greenspan was an Ayn Rand groupie. I mean, let's look at reality.
It's all of society that participates in these events. And whoever is in power or bailing out or pricking the balloon is not an entity--it is the MARKET--which is not a faith, or color, or creed. It is the consciousness of all of us, every fucking single one of us. That's what makes the market such a fascinating organism to watch. It's the collective human race, rushing from greed to fear and back again. No one in politics or power really controls it--that is the grand illusion. Those are just excuses from my point of view.
But as a former Wall Street MBS/options market maker that traded on fundamentals, to now being a technical trader that primarily trades equities (for the last 14 years) I see the world from many viewpoints. But none of them support a bias against a race or nation. Just stupid ass people making stupid ass decisions.
Again, merehuman, I was shocked at your "paint them green" comment. Considering what your mother endured, I cannot understand how you have become so intolerant.
I think you'll be shocked much more in the future. Don't make it religious dispute, it's not! It's the game of power and exercising it for certain purpose.
Your occupation or whatever you do, does not have anything to do with it, if you are able to ride it, good for you. Just don't make us cry reading your loaded posts with faith in equality, human race greed, free markets and so on. And stay with your very objective view of forces of free markets, I'll stand by my "grand illusion" that is not!
Actually i am usually very tolerant having been mugged by various races. From 14 to 17 i lived on the streets, often the only white face in the ghettos of the USA. New Orleans, New York and LA. I worked hard not to be racist and have seen all sides of it. The one man in my life that affected me most profoundly was a jew, still my guru to this day. Without him i would still be a merehuman. One fellow, dead now, also jewish had a heart to heart spiritual connection like we were brothers. I will never forget the eve he and i had mushrooms. We were out of our body, one of us telling a joke, both of us breaking out in laughter simultaneously tho neither of us spoke.
And for some reason 3 jewish princesses came my way. Now older i have just ended a 15 year business relation ship due to the depression. That fellow , my client is jewish and a good friend.
No, i am still not racist and until recently could care less about religion.
The green was because we cant see the subleties, most of us are unaware to a large degree. I will put it another way. If all those folks who are jewish were orientals instead, say chinese, would That bother you? IT should, being jewish should not be a free pass when you are running a FREE country.
If you two Homers were really curious, you could have googled this up, amongst many articles and books, giving you the logical explanation for what you see.
http://www.jewcy.com/post/why_jews_are_disproportionally_successful
If you cant handle the truth now, you will later when you finally recognize who the thiefs are presently stealing YOUR country from you.
Now that you've had your say, get back to the garage and finish the cars.
I'm not as benevolent as Howard towards your mother meresubhuman, as she lived to spawn you.
Get a God in your life.
In the mean time, Zieg Heil ya Kraut!
You see, you are not even able discuss anything. Your only argument is insult, which are stupid at all measures. Who cares you call him kraut, I call you brainless hot dog, is it good argument, do you think?
Do you even know what "Sieg Heil" means Milkbank? It means "Mission accomplished", victory! It's not German it's roman, baby.
You have nothing to discuss you ignorant f*ck. I have no respect for your type wondering over here from the yahoo boards. Go get a basic education of things economic and historic then come back to ZH.
Zeig Heil to you too MoFo.
hard to argue truth to fools. Obviously bildeburg, 1913, 9/11 USS Liberty are things that you have no clue of.
Profanities and insults make a poor arguement. Indeed you are solidifying my position. You sir are a moron and indeed a racist as pertains to truth and the freedom to express it. If you are an american, you suck at it.
Thank you for your support. Q: are jews racist or just their trolls?
Q: did i not speak the truth?
not to throw more gasoline around but were it not for how u.s. foreign (and lately domestic) policy, particularly in this era of confrontation with islam, is negatively (imo) influenced by israel's actions in its conquered lands, some of this tension might not exist.
yeah, let him go, he was just "following orders" right? douche.
Waiver? They don't need no stinkin' waiver. When you are the one Primary Dealer that can never be charged criminally, fined out of existence, or foricbly restructured you can do whatever you want and write a check against your taxpayer insurance fund to make things right.
Hey Zeros:
This is the first inning of a game where every batter will take the count to 3-2 and foul off a bunch of pitches. Its going to be years of litigation.
We're all just guessing as to what is really going on, BUT there is an issue that may have been missed...
The SEC does not usually bring cases like this on a Friday. I mention this because there was another piece of news out of the SEC that also hit. The SEC IG had drafted a damning report claiming that SEC Staff knew about Stanford and did nothing. This comes on the heels of the now-famous Madoff report where the SEC "saw no evil;" the incompetent but not corrupt report. This report was different, it demonstrates just how bad the SEC is at its job. This would NOT have been the type of publicity the SEC would have wanted with financial services reform on the floor.
The SEC, The Commissioners, directly control when/if certain SEC IG Reports are going to be released. I find it more than coincidential that a damaging report on the SEC NOT catching Stanford is released on the same day that the SEC decides to go after Goldman on a "single" charge.
Wow. And I just figured that all the pornographic sites were blocked at the SEC border router and that they had nothing else to do...
Now that GS has been charged with Fraud by the US Government are there any restrictions on the Governemnts ability to use any of the services of GS? What other restrictions, if any, will GS run into as a result of this charge?
oh please. grow up everyone. they did not report this because some pigs are way, way, way more important than other pigs.
you all would do well to understand this before you start expecting fines, jail sentences, indictments, or whatever.
i know the folks at GS certainly get this.
I think this is the best analogy so far:
Imagine you and your friend sell baskets of apples.
Your friend purposely puts poison in some of the apples, while you (knowing of the poison) continue to sell those apples. Additionally, you tell your customers that these particular apples are the most delicious that you've ever had for sale.
Then that same devious friend of yours buys life insurance contracts on those customers who ate the apples. Your customers die as expected, and your friend makes billions of dollars in profits off of those insurance contracts.
Then everyone in the apple industry marvels at how smart the both of you are. And you spend the next two years pretending that you're the Master of the Universe.
Reputation of GS is ruined, the reputation of Moodys soon to be ruined (Buffet no fool).
If you add up the value of every stock on the planet, the entire market capitalization would be about $36 trillion. If you do the same process for bonds, you'd get a market capitalization of roughly $72 trillion.The notional value of the derivative market is roughly $1.4 QUADRILLION.
SEC, and Moodys = Arthur Andersen & Goldman Sacs= Enron <none will survive>
The ill-gotten gains will survive and move into new hands to continue their work of extracting all real value from the economy. Until all value is concentrated in a few hands. Then the game will be reset and new rules instantiated to maintain the new colossi of capital.
All praise limited liability. Hail Caesar!
cougar, your comment just made me think. if corporations are now "people," they should lose their limited liability status!!! fuck the SCOTUS
Who is long Greece, short Calamari?
http://allrecipes.com/Recipe/Calamari/Detail.aspx
Haven't been around much, busy looking for a job. Hello to all!
Well, well, well.....or should I say "wells, wells, wells...." As previously noted by several of this, the time has come for the politicians to eat the banks because the whole group of these pinheads can't hide the enormous fraud and dishonesty that is prevalent in their world. I can only imagine that the number of lawsuits to be filed against GS will he huge-normous. I don't think GS is going to get away from this mess for a very long time.
And, I'm looking forward to the possibility of the same course of action of several of the other too big too fails.....gonna be interesting.
by the way, did Blankfein retire those FDIC TLGP bonds yet?????
Hi DH, You've been missed! Yesterday was just way too much fun. Lot's to read...hope the job search is going well.
DH,
Thank you for making an appearance. Your insight and unique view has been missed in this space. Since you ultimately determine the parameters of your job search, expand your mind into all the areas you bring wisdom and experience to and the job search will expand with it. My best job ever was found by looking where I never put my keys. And yet there they were as soon as I looked.
Fuck yes; finally i read you, you mofo.
How are you dewd. I hope you land that job you seek so much. I know it must be hard in this fucking economy and among all the cheerleaders who proclaim "The Recession is OVAH" and then deny you a job. Hang in there old buddy; existence tends to equilibrium.
I hope to see more of you and a happier and more satisfied you [also, i hope, your employment will seek to that].
Drop by whenever you can, its always nice to see someone from the old, original ZH crew. There is not many of us left.
Deadhead, welcome back. I was wondering where you had disappeared. Good luck job hunting. Wish the best to you and your family.
Overtextended SP500 / DOW daily charts show more bearish warnings and the next few days will tell us more.
DOW chart :
http://www.zerohedge.com/forum/latest-market-outlook-0
sorry for all the self replies
Did a Clever SEC Bait Goldman Sachs into Compounding Its Legal Problems With the "Kiss of Death" Message?
http://whitecollarfraud.blogspot.com/2010/04/did-clever-sec-bait-goldman-sachs-into.html
did you read this
???
helo
did you read this???
sorry paladin, was out for a bit. the headlines seem a little misleading, this was in the whitecollar:
Other Potential Disclosure Problems Facing Goldman Sachs
Before the SEC files a lawsuit, it notifies the company or individual that it is conducting an investigation and later sends them a "Wells Notice" that its plans to recommend enforcement action against the recipient. Since an SEC investigation or the receipt of a Wells Notice is considered a material event, companies must promptly disclose them to investors in 8-K filings with the SEC. However, Goldman Sachs made no such disclosure of any such "Wells Notice" in its filings with the SEC and is now open to potential litigation from investors for its failure to disclose those material events. See Business Week article here.
Rodgin Cohen knew this was coming. But yeah, always good to fuck with people on a friday...