Full Annotated Lloyd Blankfein Testimony

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Mon, 04/26/2010 - 17:07 | 318695 buzzsaw99
buzzsaw99's picture

Salt of the Earth that one.

Tue, 04/27/2010 - 03:29 | 319251 Johnny Bravo
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Wanna play a drinking game?

Okay, you have to take a shot every time there is a negative headline about Goldman on Zerohedge.

You'll be fucking wasted in 15 seconds flat.

Mon, 04/26/2010 - 17:11 | 318698 Mad Max
Mad Max's picture

My greatest concern regarding the GS debacle is that the feds will devour and destroy GS, with people subsequently thinking that the government went too far, and that they eliminated the entire problem with the financial system.  This would allow the vast remainder of the Wall Street bunch to continue their schemes unhindered, maybe even with more freedom than before.  Remember what the mindless destruction of Arthur Andersen did for accounting.

Mon, 04/26/2010 - 18:02 | 318762 anony
anony's picture

 "....mindless destruction of Arthur Andersen did for accounting"?????

Arthur Andersen and the rest of the big 6 at that time deserve to be dissolved, the partners homeless.

If ever there was  a shareholder watchdog that needs wiped out it is the large accounting firms.

How did we get to Big 4 from Big 8?  Do you have any idea the level of cocksucking that the partners in the large accounting firms have done to their clients?  They are whores who deserve to be made obsolete, their partners' pay cut to a single digit hourly rate for their contribution to the complexity of our tax code, the appalling lack of due diligence reporting and opinions worth less than nothing.

You have to be a member of one of them to come here and defend them.

 

 

Mon, 04/26/2010 - 18:25 | 318794 Rainman
Rainman's picture

Amen. The accounting firms and ratings agencies are bagmen. I believe they always walked the thin line of reader deceit, yet had a smidgen of honor. Now they are part of the capo regime. For the accountants, FASB is like their Godfather ......a great cover. It works just like the relationship of banksters and Fed. 

Mon, 04/26/2010 - 20:23 | 318917 Double down
Double down's picture

Goes with what you said and your Avatar 

NEO
       Do you always look at it
       encoded?

               CYPHER
       Have to. The image
       translators sort of work
       for the construct programs
       but there's way too much
       information to decode the
       Matrix. You get used to
       it, though. Your brain
       does the translating. I
       don't even see the code.
       All I see is blonde,
       brunette, and redhead. You
       want a drink?

Mon, 04/26/2010 - 20:54 | 318958 Mad Max
Mad Max's picture

I'm not an accountant, but I deal with them enough.  The problem with the killing of AA was that it resulted in (1) so few remaining "big" firms that none of them will be allowed to die no matter what they do, and (2) for the same reason, dictatorial terms by the remaining "big 4" and completely ridiculous demands if your company is only up to the billion dollar range.  But apparently no increase in standards if your company is in the $100B range.

So, if the same sort of thing happened in i-banking, the end result would be overt endorsement of any fraud by the remaining ibankers, no matter how blatant or serious, and no willingness to take any regulatory action against them.  Does this sound like a good result to anyone?

My point, which apparently wasn't blunt enough, is that if only one firm gets singled out for abuses committed by all, the crucifixion of that one firm will provide virtually unlimited protection for all the surviving firms.

Mon, 04/26/2010 - 21:54 | 319044 Hephasteus
Hephasteus's picture

Yup. Got an uncle that got dishonorably discharged from navy for being ordered to violate the constitution and refusing. Then 10 years later he gets pressured by these assholes to do the accounting gimmick crap that is all over every corporation in existance today. He said fuck you and walked.

The people who are going to make a stand against the crap have made their stands. I don't even know if my cousin still works for delloit and touche but if he's fudging he needs to go to jail. You can't allow public companies to pay these peoples salaries. You have to set up a man in the middle attack and have the man in the middle take the money and give it to the accounting firms or else they will slowly surely be conformed into making the purely mythological bullcrap accounting that is pervasive today. It's as certain as a python squeezing something it needs to eat.

Mon, 04/26/2010 - 22:46 | 319095 Cistercian
Cistercian's picture

 Two things..your uncle rules.

 And the boa constrictor analogy...brilliant and apt for exactly what is happening to the remnants of the middle class now...squeezed to death, slowly and inexorably.

Tue, 04/27/2010 - 01:17 | 319192 Cursive
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Then 10 years later he gets pressured by these assholes to do the accounting gimmick crap that is all over every corporation in existance today. He said fuck you and walked.

 

I was an internal auditor turned whistleblower at a small publicly traded utility.  I did the same.  My family's living standard has taken a hit, but we do well enough.  We have so much lawlessness and cheating these days that it's always good to read of honorable actions.

Mon, 04/26/2010 - 21:01 | 318971 boooyaaaah
boooyaaaah's picture

What is the best way to short GS?

I truly believe because of the connections to congress, former members in the executive branch, the white house visits, and the need for the FED to have a bankster to keep the reflation in tact ----

That GS will weather the storm

But maybe because of Tyler, Beck and the stumbling block (truth) --- they may not weather the storm.

If they don't what is the best way to leverage and short GS

I would like a 100 to 1 shot

Could it be in the somewhere in Cap And Trade adventure?

Maybe a few years from now we will look back at cap and trade as the final a straw of arrogance.

Any suggestions would be appreciated

 

 

 

 

 

 

 

Mon, 04/26/2010 - 22:56 | 319103 newbie vampire
newbie vampire's picture

Perhaps the auditors should also make an appearance after Lord Lloyd ?

Mon, 04/26/2010 - 18:05 | 318765 anynonmous
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My greatest concern regarding the GS debacle is that the feds will devour and destroy GS

That's funny

Mon, 04/26/2010 - 18:11 | 318775 Alienated Serf
Alienated Serf's picture

Wow, I skipped right over that.  Madmax, for the good of the nation, your family and the planet at large, KillYaSelf immediately. KYS KYS KYS

Mon, 04/26/2010 - 20:54 | 318960 Mad Max
Mad Max's picture

Are you a fan of S.O.D. or M.O.D.?

Mon, 04/26/2010 - 21:14 | 318998 Alienated Serf
Alienated Serf's picture

S.O.D. is ok, not sure if i've heard M.O.D., I'll take me some Maiden or KMFDM.  KYS is my own little saying though, is it in use somewhere out there?  I was hopeing it would catch on here, since we need a few more insults and our own lingo.

KYS FYS

Mon, 04/26/2010 - 21:22 | 319012 Mad Max
Mad Max's picture

Track #3:

http://en.wikipedia.org/wiki/Speak_English_or_Die

It's worth buying the album if you haven't heard it.  M.O.D. is a related group.  I'd recommend their album Gross Misconduct, and I'd stay the fuck away from Surfing M.O.D., which was terrible.

Mon, 04/26/2010 - 21:28 | 319014 Alienated Serf
Alienated Serf's picture

Actually I thought you were referring to SOAD, but this looks like something I need to check out.  Though I haven't paid for music since '99.  Thats right, fuck you Sony!

Spread the love.  KYS.

Tue, 04/27/2010 - 07:44 | 319322 El Hosel
El Hosel's picture

"My greatest concern regarding the GS debacle is that the feds will devour and destroy GS"

  Does that include destroying the alumni in office today (and yesterday)?....  The feds are GS in many cases.

Mon, 04/26/2010 - 18:15 | 318766 Alienated Serf
Alienated Serf's picture

 dlt

Mon, 04/26/2010 - 18:13 | 318779 Fidel Sarcastro
Fidel Sarcastro's picture

The problem with that line of thinking is that Golden Slacks will not be destroyed.  Nothing will happen to GS in the end but a fine that is akin to a nickel in Joe Six-Pack's pocket.

"This would allow the vast remainder of the Wall Street bunch to continue their schemes unhindered..." correct, but GS will again (sickeningly) be leading the pack.

 

Mon, 04/26/2010 - 18:25 | 318793 nonclaim
nonclaim's picture

Nah, they will do something harsh and silly like ban FabFab from trading securities for life. And, maybe, fine another guy or two, who will gladly pay "without accepting or denying any charges". That always make me go wtf...

Mon, 04/26/2010 - 19:39 | 318841 Crab Cake
Crab Cake's picture

Nothing will happen to Golman Sachs? I suppose that depends if angry dissidents firebomb their buildings?  Molotov cocktails are cheap, and rent a cops aren't all that great a deterrant.  One only hopes that these dissidents don't get their hands on jet fuel fire bombs or whole skyscrapers could come down..... Besides, business buildings aren't that hard to access as long as you have a few guys with sledgehammers, or take the security cards off the first couple of schmucks to hit the floor.

I'm not saying its a great idea, (For you fuckers monitoring the web I didn't say I would do it, nor am I encouraging others. Why don't you do your job, and put the people who deserve to be in prison in prison and it won't come to this?  Oh, and fuck you.), but these people are fools to believe they are safe.  We live in America where everyone has a gun, and access to firebombs via Jim Beam.  These criminals live in walled communities near you, and their kids go to schools that are hardly "secure" just down the road, and their wives shop in highend stores just minutes from local 'hoods. 

I hope our government has the good sense to see this, enforce justice, and do the Peoples' will, but probably not.  Nooses lightpoles, molotov cocktails, and firearms will come to bear if justice isn't done soon.

So, to our "representatives" and law enforcement agents, are you gonna do your jobs or have the People do it for you?  Are you cops or criminals?  I suggest you decide sooner rather than later.

Mon, 04/26/2010 - 19:46 | 318873 Alienated Serf
Alienated Serf's picture

say hi to the fellaz from ATF for me tonight.

Mon, 04/26/2010 - 20:19 | 318913 Crab Cake
Crab Cake's picture

AS grab ahold of your set will 'ya.  What do you think the dispossessed will do when the TV goes dark, and there's nothing to eat?  What do you think people with nothing left to lose will do when the people that fucked them walk freely and enriched?  I'm a student of History, and I was only pointing out what's coming if something isn't done.  If my friendly neighborhood law enforcement officials, who apparently don't have time for real criminals and terrorists, would like to have a conversation fine by me.  My wife made fajitas, and I have some left over queso.  I'm not afraid to speak my mind, I'm not afraid of the law, and I'm certainly not afraid of death.  If they want to lock me up fine, more time for meditation, reading, and contemplation. They, our representatives and the law enforcement community, can ignore the ramifications of their inaction until it comes to what I described if they want.  However, they should know they've made it inevitable, as much as they'd like to blame the symptom and not the disease.  I pray they'll make the right decision, and bring justice to the criminals.

Mon, 04/26/2010 - 20:51 | 318942 Alienated Serf
Alienated Serf's picture

CC, just bein a wise ass.... though if you have fakitas and queso, you are already a criminal suspect in AZ.

hmm, if we could draw more attention attention to financial terrorists by grabbing the attention of the more traditional terrorists.

A draw Llyod Blanknuts as Mohammed contest would be fun.

Mon, 04/26/2010 - 23:03 | 319108 merehuman
merehuman's picture

Bless you Crab cake. I am with you. Feel same way. Still trying to wake folks up each day and preparing. Good luck to all of us.

Tue, 04/27/2010 - 01:24 | 319199 Cursive
Cursive's picture

@ Crab Cake

 I'm not afraid to speak my mind, I'm not afraid of the law, and I'm certainly not afraid of death.

We need more people thinking like this.  Forget worrying about the consequences of doing the right thing.  Anyone who would disagree with Crab Cake, ask yourself, "Was I the prison guard at Auschwitz in a previous life?"

Tue, 04/27/2010 - 10:05 | 319492 Alienated Serf
Alienated Serf's picture

Fabulous Fabrice was just following orders.

Mon, 04/26/2010 - 17:10 | 318700 No One
No One's picture

and will any one of the Senators call him on this?

 

Not likely, seeing as how we are in an election year, and 1/3 of these country clubbers are up for re-election.

Mon, 04/26/2010 - 23:08 | 319111 newbie vampire
newbie vampire's picture

"and will any one of the Senators call him on this?"

 

Yes, the senators will hit him with all the preapproved questions that he has provided to their campaign committees.

 

 

 

 

Mon, 04/26/2010 - 17:14 | 318707 DaveyJones
DaveyJones's picture

God is indeed grateful for being alive

but he only owes his gratitude to himself.

Mon, 04/26/2010 - 17:22 | 318716 Slewburger
Slewburger's picture

Fvcking beautiful contradiction: Lie #3

Tue, 04/27/2010 - 00:20 | 319170 Nihilarian
Nihilarian's picture

Along the same lines, Bill Clinton did not have sexual relations with that woman.

Mon, 04/26/2010 - 17:23 | 318718 BorisTheBlade
BorisTheBlade's picture

Gods don't bleed, Goldman will survive.

http://www.youtube.com/watch?v=ZBR2G-iI3-I

Mon, 04/26/2010 - 22:56 | 319104 Cistercian
Cistercian's picture

 News Flash!GS actually false gods!

 GS has offended someone.I don't know who.But I suspect the wrath to come will be epic.

 If we are very fortunate, this doom will also overthrow the other criminal syndicates posing as reputable Wall St. establishments.

 

 Hope springs eternal!

Mon, 04/26/2010 - 17:23 | 318719 Rainman
Rainman's picture

Lawyerspeak : The term massive is undefineable and cannot be used against you in a court of law.

Mon, 04/26/2010 - 17:26 | 318723 Howard_Beale
Howard_Beale's picture

Alan Grayson would have a field day with Lord Blankfien. If only he was on the Panel we could get some great theater. Click below for the list of morons on the committee--stick finger down throat, vomit, repeat. Do ya think they read up on your CDO primers Tyler?

http://hsgac.senate.gov/public/index.cfm?FuseAction=AboutCommittee.Membership

 

Mon, 04/26/2010 - 18:40 | 318807 Miles Kendig
Miles Kendig's picture

In the age of plausible deniability?  ROFLMAO.  Still, it needed to be written as you well appreciate Howard. Even if my critter on panel still hasn't learned to read anything but a clearinghouse summary provided with his check for winning the bobbing for cork contest.

Mon, 04/26/2010 - 20:40 | 318929 Howard_Beale
Howard_Beale's picture

Bobbing for cork contest! Ha ha ha....bend over a little farther....a little farther now, critter.

Hey, what happens when Sen. Bob Corker goes bobbing for corks? I guess he has found his calling, working in the whinery at the Capital. I think I've got a case of random thought weirdness like Cheeky had the other night. Time to eat.

Mon, 04/26/2010 - 21:55 | 319046 Miles Kendig
Miles Kendig's picture

Might I suggest a personal fav... peace pal

http://www.fandangorestaurant.com/index.html

Mon, 04/26/2010 - 22:04 | 319060 Howard_Beale
Howard_Beale's picture

I'll make the reservations if we can decide on a date since it would be no fun without you! 

Mon, 04/26/2010 - 22:43 | 319093 Miles Kendig
Miles Kendig's picture

Anytime Howard.  You can mail me using Reggie Middleton's blog page mail service, same name.

http://boombustblog.com/

Mon, 04/26/2010 - 23:04 | 319109 Howard_Beale
Howard_Beale's picture

Most excellent Miles...I am registered there as well under same name! In my current health state, we'll plan on sometime in June!

Tue, 04/27/2010 - 00:15 | 319158 Miles Kendig
Miles Kendig's picture

Sounds good!  peace pal...

http://www.youtube.com/watch?v=Q_nFwwjBlEc

Tue, 04/27/2010 - 07:08 | 319306 Hulk
Hulk's picture

I'm in the area, mind if I join???

Mon, 04/26/2010 - 22:26 | 319078 zhandax
zhandax's picture

HB, just for you i just sent Corker this little love note.  He is one of my elected sellouts so he can't use the "you are not one of my constituents" dodge although I have no doubt one of his staffers is busy deleting it now.

 

"Goldman Sachs, in supporting financial regulatory reform, has made it clear that it supports clearinghouses for eligible derivatives and higher capital requirements for non-standard instruments."

Lie #5: Goldman Sachs is in fact lobbying with millions of dollars and doing all it can to persuade its lackeys Dodd and Corker to leave derivatives just as they are. As a case in point see Warren Buffett's (so far rejected) attempt at intervention in derivative reform.

OK, you have become a laughing stock for patriots with a wall street background.  No hard feelings if you resign before the end of your term (not like you do anything for your constituents to outweigh selling them out to the wall street brothel).

Since you have the inside track, let Dearth Blankfein know that 3 billion may appease the Oprah set, but those of us who understand this will only be satisfied with public hangings.

If you grow a set overnight and want a few questions for Dearth tomorrow, http://www.zerohedge.com/article/full-annotated-lloyd-blankfein-testimony.

Regards, Dan

Mon, 04/26/2010 - 21:34 | 319020 fxrxexexdxoxmx
fxrxexexdxoxmx's picture

Alan Grayson is insane. He is scary crazy. He is totally corrupt and incapable of rational thought.

Alan Grayson is, cutting up kids to see what they look like inside, crazy.

He dangerous. He is a sadist. He is a facists dream soldier.

Mon, 04/26/2010 - 22:28 | 319079 FEDbuster
FEDbuster's picture

That is the kind of guy we need to go after them.  Plus, throw in Ron Paul for some offbeat questions, too.  Hell I'd even like to see the guy worried about Guam capsizing on the panel, just to f*ck with Lloyd's head for ten minutes.

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