Goldman Implicated In CDS Price Manipulation Scandal

Tyler Durden's picture

Your rating: None

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thu, 12/09/2010 - 20:49 | 794446 plocequ1
plocequ1's picture

Very simple..Ctrl+Alt+GSCDS+Del= Problem solved. Erased from the memory of man. Rally on.

Thu, 12/09/2010 - 21:00 | 794461 gwar5
gwar5's picture


Fri, 12/10/2010 - 00:54 | 794877 flacon
flacon's picture


Fri, 12/10/2010 - 11:43 | 795499 indiansummer
indiansummer's picture

no surprise with the GS tools... this article got surprisingly little coverage, but shows the Squidz total lack of remorse. in the matter

Thu, 12/09/2010 - 20:59 | 794460 gwar5
gwar5's picture


My gut just tells me GS is the Wall Street mothership of all FU shit.

They cooked the books that got Ireland and Greece into the EU.

I don't know how that converts to hard assets, but it wasn't free.

Fri, 12/10/2010 - 00:58 | 794885 flacon
flacon's picture

Goldman is the mother maggot which spawns governators/politicians/elitists. JP Morgan is the semen which impregnates the Goldman's ovaries with demon seed. The White House is the maggot flesh which controls the IRS - the sticky saliva of external digestion. 

Fri, 12/10/2010 - 01:02 | 794887 Bastiat
Bastiat's picture

I'm not gonna sleep right after reading that.

Thu, 12/09/2010 - 21:05 | 794473 Arius
Arius's picture

i am shocked! i suppose while doing God's work

Thu, 12/09/2010 - 21:08 | 794481 RoRoTrader
RoRoTrader's picture

No fucking way!!!  Not the GoldSac???  Cannot be! Please, someone, wake me up, I must be trapped in a nightmare.

Thu, 12/09/2010 - 21:11 | 794491 Bearster
Bearster's picture

It seems to me that politicians scaring us that we need to bust up a company / regulate the market for our own good, or the good of the market, or some sort of good to their campaign coffers ... is how we got into our current "crony" fascist mess.

Let's not add to it.  Carl Levin is not exactly one of the good guys.  The end result of whatever comes of this will be:

1) more money for Carl Levin

2) more opaque regulations written by experts...

3) ...benefitting Goldman Sachs

Let's get rid of the Fed, get rid of fiat paper currency, legal tender laws forcing people to accept paper instead of gold, subsidies, bailouts, and regulations.  In a free market, those who add value make money, and the rest are history.

Thu, 12/09/2010 - 21:26 | 794524 Fearless Rick
Fearless Rick's picture

Hang in there, Bearster. There are more believers every day. Soon, our sentiments will turn to action. The righteous will become the law and the lawbreakers eliminated. We all must spread the word far and wide, with passion and commitment.

Thu, 12/09/2010 - 21:14 | 794498 theprofromdover
theprofromdover's picture

There is no God??????

Lloyd, surely not?

Thu, 12/09/2010 - 21:21 | 794520 buzzsaw99
buzzsaw99's picture

Anyone who does business with the squid deserves what they get.

Fri, 12/10/2010 - 08:25 | 795151 bonddude
bonddude's picture

Uhhh, the squid was operating under the protection of the SEC SLUT !

Don't forget that. Kinda like Whitey Bulger.

Fri, 12/10/2010 - 10:22 | 795153 bonddude
bonddude's picture


Fri, 12/10/2010 - 10:20 | 795155 bonddude
bonddude's picture

sorry for the dupes

Thu, 12/09/2010 - 21:31 | 794531 Cdad
Cdad's picture

No?  Creating short squeezes you say............CRM, CMG, NFLX, FFIV, LULU copper, to name a few.

The criminal syndicate known as Wall Street doing its good works.  I'm not worried.  I know E. Holder is on it.    And I hear that Goldman is almost done briefing Mary Shapiro on all the SEC laws she should not enforce so that the whole CDS thing can simply go away and money can more freely flow into Goldman's bonus pool.  It's all good.

Capital will not form in such corrupt entities as these which is why The Bernank is printing money to fill the void of 31 one consecutive weeks of Average Joe selling equities.

Thu, 12/09/2010 - 22:17 | 794608 Cursive
Cursive's picture

Capital will not form in such corrupt entities as these which is why The Bernank is printing money to fill the void of 31 one consecutive weeks of Average Joe selling equities.

This is why the whole power structure will need to be reset before we move forward.  Central bankers must go before Western Civ can advance.

Thu, 12/09/2010 - 22:32 | 794636 Cdad
Cdad's picture

You are correct, and we will know when we are moving forward in healing from this mess when, first, the central bankers turn on the syndicate bankers in an attempt to save themselves.  And when we have gone ahead and prosecuted the syndicate bankers, we can then address the issue of the central banks.

This is going to take many years, which is why we best get moving forward on it.  This means, of course, that we first need an effective SEC and an effective Justice Department, of which we currently have neither. 

100 years of neglect...arriving like a lead doorstop on my sons' future.  It is time for us to do something unequivocal.

Thu, 12/09/2010 - 21:30 | 794537 Cistercian
Cistercian's picture

 Odd, ZH out in front of this yet again....

  Great work Tyler!!!

Thu, 12/09/2010 - 21:50 | 794571 Bob
Bob's picture

Tyler . . . are you sayin' these mother fuckers ain't gonna do time?

Thu, 12/09/2010 - 21:52 | 794574 JohnKing
JohnKing's picture

hey Tyler, you might want to check in with Sergey..


 In the government's summation, prosecutor Rebecca Rohr said that, under pressure from his new boss, Aleynikov "chose to become a thief, a high-tech thief" and downloaded Goldman Sachs' proprietary software the next day.
     Defense attorney Kevin Marino countered that "Let's move fast" better describes the speed at which the government prosecuted his client at the behest of Goldman Sachs.


Thu, 12/09/2010 - 21:56 | 794580 chindit13
chindit13's picture

This was all covered in Michael Lewis' book, which was quick and easy reading, even for Congresspeople.  The book has been out a while.  Nothing has been done.

(Incidentally, anyone who hasn't read the book will find it entertaining/infuriating.)

One of the real beauties of OTC markets is that the price is what you say it is.  This is particular important when marking to market, and allowed the Lake Wobegon Effect (everybody is above average) both within Wall Street investment banks (for bonuses) and in the hedge fund community (for the 20 part of 2 and 20).  BOTH sides to a trade could book a profit, and compensate themselves accordingly.  Everybody's a winner!  Well, everybody except shareholders, investors and taxpayers.

Thu, 12/09/2010 - 22:15 | 794604 ToNYC
ToNYC's picture


Goldman plays the Joel Cairo role (Peter Lorre) in The Maltese Falcon of Wall Street. The truth is not on the map in the 3-D card monte they play. They have no reason to not play both ends of the deal and become a derivative of the buyer or seller depending on how they color the deal to the parties they pretend to advise.

Fri, 12/10/2010 - 04:46 | 795051 ZeroPower
ZeroPower's picture

Not familiar with Lake Wobegon Effect but that sounds about right.

For OTC products, sometimes it doesn't matter what youre hoping for as a price in the long run, you book your 'profit' based on what you THINK you could sell back the security to someone else at a future time. Hell, even make a profit simply on the spread as it widens further (or tightens depending on where you stand)

Fri, 12/10/2010 - 01:11 | 794591 blindman
blindman's picture

GREEK ACCOMPLICES & PARTNERS . keiser report no 102.  !!!!!!! . it's all just fraud !!  ongoing  ..... " cds is is a financial bliiifff".  dr. kiriakos tobras .!
Thu, 12/09/2010 - 22:27 | 794624 Careless Whisper
Careless Whisper's picture

Goldman intentionally short squeezed their own clients. LMAO They got what they deserved if you ask me. Anyone stupid enough to maintain an account with a bunch of criminals should be shown no mercy. The only thing that surprised me is how sloppy Goldman was with the emails.


Thu, 12/09/2010 - 22:54 | 794682 dark pools of soros
dark pools of soros's picture

ZH frontrunnin Goldman's perp walk!!

Thu, 12/09/2010 - 22:57 | 794687 treemagnet
treemagnet's picture

Tyler - how would you chart or graphically represent GS size, power, and might.  I mean, its like they're an octopus with a tentacle here there, and everywhere?  I keep hearing the name whenever something crooked is mentioned but its starting to sound like "Fed" or "D.C." or whatever.  Just curious. 

Thu, 12/09/2010 - 22:58 | 794691 anolmec
anolmec's picture

Lets me get this straight. Carl Levin was on the "Investigating Committee" for Oklahoma City, Waco, Ruby Ridge, 9-11, and recomended invading Iraq due to WMD.. I dont think Goldman is to worried about this "investigation". If you ever need a pivot man for a circle jerk, Carl Levin would be your man.

Thu, 12/09/2010 - 23:16 | 794726 moneymutt
moneymutt's picture

dang, I was excited there for a moment. Interesting niche 'expertise" this guy has

Thu, 12/09/2010 - 23:33 | 794762 Alienated Serf
Alienated Serf's picture

carl levin is scum like all senators, but i'll take what we can get.

just to toot my own horn, i did my HS "senior thesis" on Ruby Ridge back in '94.

Thu, 12/09/2010 - 23:15 | 794725 moneymutt
moneymutt's picture

I'm shocked. Shocked.

Americans number one export: FRAUD

Fri, 12/10/2010 - 00:53 | 794873 Vendetta
Vendetta's picture

don't forget the death and destruction

Thu, 12/09/2010 - 23:29 | 794753 Alienated Serf
Alienated Serf's picture

this cds bit may result in another abacus like debacle for GS, but the real fun will be when things get ugly in europe.  after greece defaults and the current regime is deposed, the new guys in charge will be more then happy to expose gs criminality in hiding greek debt. collusion in criminal sovereign fraud is going interesting.  brussels will be very upset at mr. squid. 

Thu, 12/09/2010 - 23:33 | 794759 Cdad
Cdad's picture

Pet peeve...I admit.  But...if you are too lazy to hit the shift key, then you are too lazy to post.  Literally, I did not read you, so I do not know if you are brilliant or not.

Hitting the shift key is NOT hard.

Just sayin'

Thu, 12/09/2010 - 23:36 | 794766 Alienated Serf
Alienated Serf's picture

when i posted there was an error msg that said "your email was not sent, please contact the administrator if this problem continues."

perhaps that is why the post was out of alignment.  

regardless, your pet peeve is insane.


Thu, 12/09/2010 - 23:53 | 794794 Cdad
Cdad's picture are blaming this problem on some sort of error message?  Please confirm.

As for whether or not I am insane, I expect that is up for debate.  However, that issue is separate from the obvious issue I just put to you.

And so how I know this is near the witching hour, and Hong Kong is coming online with the whole MB thing...please confirm. 

Are you:

1.lazy     2. stupid and obstinant    3.  In Hong Kong

Let me know...seriously....

Fri, 12/10/2010 - 00:04 | 794810 StychoKiller
StychoKiller's picture

I keep seeing some sort of error msg as well, but it does not interfere with MY shift keys! :>D

Fri, 12/10/2010 - 03:11 | 795008 Jasper M
Jasper M's picture

I encourage tolerance on the issue. Until recently, I had a busted shift key, and learning to use the other one in a hurry was not giving good results. So I know how easy it is to trigger your particular pet peeve. 

And, seriously, if having to see non-capped text (so very often the other way around!) is the worst thing to happen to you this week . . . it's a pretty good week. 

Fri, 12/10/2010 - 00:05 | 794809 moofph
moofph's picture's not a pet peeve of mine...don't have any. but, i do notice you have a period missing there...unless you plan to finish your comment sometime in the future...but, i won't be waiting comment police person...geeesh...the irony and hypocrisy is

...just sayin'.


Fri, 12/10/2010 - 01:12 | 794906 Cdad
Cdad's picture


Fri, 12/10/2010 - 01:35 | 794929 blindman
blindman's picture

i had a pet peeve so my wife bought some carpet cleaner

and now it's all good.  we survived.

Fri, 12/10/2010 - 00:14 | 794824 williambanzai7
williambanzai7's picture


Fri, 12/10/2010 - 00:38 | 794857 moofph
moofph's picture!

Fri, 12/10/2010 - 00:57 | 794876 palmereldritch
palmereldritch's picture

Is it squid ink or just GS's secret sauce now out in the wild in multiple high frequency flavours?

A sugary high followed by a flashy crash when taken as simultaneous doses.

If it's anything, it's inky black.

Fri, 12/10/2010 - 00:55 | 794880 Vendetta
Vendetta's picture

the justice system will dutifully slap their wrists, scratch their balls for em and call it a day of administering justice well done ... no doubt.

Fri, 12/10/2010 - 01:22 | 794920 SheHunter
SheHunter's picture

ZH you have it all covered this eve....the 9/11 Conspiracy....God's Right Hand GS and WBanzai7 with an impeccible illustration.  Here's to you.


Fri, 12/10/2010 - 01:39 | 794934 moofph
moofph's picture

...i concur...and it seems like such a quiet evening...toooo quiet...eeeeerily quiet.



Fri, 12/10/2010 - 01:46 | 794944 Instant Karma
Instant Karma's picture

I was wondering about Goldman's trading in Mortgage CDS's before the crash. A while back I was reading "The Big Short" and one of the counter party's to the CDS was Goldman. Even as the mortgage market was collapsing in late 2006 and 2007 Goldman was demanding more collateral/margin and marking the CDS's as losing value, instead of gaining value. Seemed to me they were trying to force the positions to be closed at precisely the time the trade was really starting to work. You'll have to forgive me I don't remember the names of the parties involved, but I do remember how Goldman tried to pry those swaps out of the hands of the holders with margin calls.

Do NOT follow this link or you will be banned from the site!