• Sprott Money
    05/26/2016 - 05:58
    How many “emergency” “secret” meetings do the central planners around the world need to have before the citizens of the respective countries begin to fully understand and take notice that something...

Goldman Sachs and Helicopter Ben

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Thu, 05/13/2010 - 00:12 | 348401 RockyRacoon
RockyRacoon's picture

Here we go -- news hot off the wire:


Prosecutors Ask if 8 Banks Duped Rating Agencies

The New York attorney general has started an investigation of eight banks to determine whether they provided misleading information to rating agencies in order to inflate the grades of certain mortgage securities, according to two people with knowledge of the investigation.

Wed, 05/12/2010 - 22:33 | 348236 cbaba
cbaba's picture

The Fed and the big banks are the same entities.

They rob all Americans..that's the name of the game.

Lets remember who owns FED :


Thu, 05/13/2010 - 01:23 | 348472 nathan1234
nathan1234's picture

My last visit to the US in 2004. Even brokers and top people ( Harvard, Stanford) did not know that the Fed was a private bank. Attitude was who cares so long as we make money. Greed  and Wall Street are synonymous.

Wed, 05/12/2010 - 21:53 | 348175 FreakuentFlyer
FreakuentFlyer's picture

double post

Wed, 05/12/2010 - 20:41 | 348040 lucky 81
lucky 81's picture

wall street's 'man' is obama. they have their 'guy' on the inside. the seat is occupiedby their' 'gentleman'. boy oh boy oh boy oh boy oh boy. physical gold and silver long.

Wed, 05/12/2010 - 19:35 | 347875 Rick64
Rick64's picture

How many more perfect trading quarters do they need to be solvent? When are they going to unravel their toxic assets with the massive profits they are making? This would help make the economy more stable, but instead they choose to pay outrageous bonuses. They are waiting for housing to rebound so they can unload the crap instead of acting in the interest of National security. This is further evidence that the government doesn't care about national security and neither do the TBTFs.

Wed, 05/12/2010 - 19:33 | 347869 jp
jp's picture

96-0!!!!! Left, Center, Right!!! America Wants Tough Banking Reform.


Wed, 05/12/2010 - 20:30 | 348008 Janice
Janice's picture

America had tough banking reform from the Depresion Era, but then our US Congressmen revoked it.

Wed, 05/12/2010 - 18:47 | 347721 mynhair
mynhair's picture

What will we all do when GETCO is the Master of the Financial Universe?

Wed, 05/12/2010 - 18:25 | 347668 moneymutt
moneymutt's picture

this hurts, but I must say it, good post, Econophile.

Crony capitalism, govt run amok, pseudo govt/private institution - the Fed run amok... whatever you call them...they are taking this money straight out of our hands..PARASITES...we need to detoxify

Wed, 05/12/2010 - 17:42 | 347576 SteveNYC
SteveNYC's picture

This is why I would give Osama quarter before Bernanke. This man is responsible for theft on a galactic level. Karma will bring him his just desserts for his theft from the middle class and his floating of the slave(debt)masters.

When it all goes down Ben, I'm going to enjoy seeing the laws of the universe shove themselves so far up your ass that you divide.

Wed, 05/12/2010 - 17:59 | 347612 Brokenarrow
Brokenarrow's picture

"just deserts?" A heart attack would suit me just fine.

Wed, 05/12/2010 - 22:57 | 348270 Mitchman
Mitchman's picture

Too quick.

Wed, 05/12/2010 - 17:25 | 347523 sheeple
sheeple's picture

Give me my money back you bitches

Wed, 05/12/2010 - 18:26 | 347674 moneymutt
moneymutt's picture

very direct talk for a sheeple...go back to the pasture and graze..ignore the wolf

Wed, 05/12/2010 - 17:08 | 347482 jm
jm's picture

It is incumbent upon all citizens to un-save.  This is your only protection... do what they want.  Manage risk and have a lean toward income, but be long GS.  Limitless swap lines mean get out of dollars before they kill it again.

You'll be much less angry.  

Wed, 05/12/2010 - 20:21 | 347987 sschu
sschu's picture

The Fed and BB are killing the middle class and small business.  They have decided that the big banks must be "saved" and they will do anything to achieve this objective.

Maybe they can hold it together for a few months or even years.  Maybe it will never crash, who knows.  But the long term liabilities foisted upon the next generation(s) will insure dramatically lower standard of living and maybe something entirely worse.

This is all so wrong.




Wed, 05/12/2010 - 20:41 | 348037 jm
jm's picture

I don't disagree with anything you said at all.  It is so wrong.   

The question is how can you protect those you love when the Fed is deliberately destroying your savings to bail out banks and deadbeats.  Seems to me smart to avoid the next stage of dollar destruction ensured by a the swap lines set up by the Fed.

The "system" has been this way from the beginning.  Its true nature was obscure but now easy to see because things are coming apart at the seams.  Change isn't option.  It would just mean a new set of thieves in charge.   

Wed, 05/12/2010 - 16:59 | 347455 dead hobo
dead hobo's picture

If banks didn't have trading profits, they wouldn't have any profits. Especially if FAS 157 applied as written. The Fed requires solvent big banks as a matter of economic and national security. The Fed will ensure that banks have capital for trades in order to keep the US economy from falling into an abyss.  As mentioned often in this space, the bid is in. Failure is not an option and the Fed will see to it by protecting bank profits, even if it involves keeping an asset bubble in place as a  national treasure.

Wed, 05/12/2010 - 21:52 | 348178 FreakuentFlyer
FreakuentFlyer's picture

i would almost be "ok" with this plan. but the so called National security argument is being compromised by the syphoning into the employee bonuses.

Wed, 05/12/2010 - 16:51 | 347438 Sudden Debt
Sudden Debt's picture

I don't like the name "Helicopter Ben"....

Can't we change that into "CHINOOK BEN"?


Wed, 05/12/2010 - 16:40 | 347402 Crab Cake
Crab Cake's picture

I'm getting really really tired of these people....

I'm ashamed of myself, this nation, and our government.  Stand up and fight.  Are you just going to let them rape you? 

Pistol Grip Pump - Rage Against The Machine


Pistol grip pump on my lap at all times
Pistol grip pump on my lap at all times
Pistol grip pump on my lap at all times
They can be fucking with other niggaz shit, but they can’t be fucking with mine

Wed, 05/12/2010 - 21:25 | 348116 _Biggs_
_Biggs_'s picture

"now I'm rollin' down Rodeo with a shotgun."

Wed, 05/12/2010 - 17:57 | 347602 akak
akak's picture

This is the pro-establishment response from our dear ZH contributor, Leo Kovilakis, to similar sentiments yesterday:

"Those banksters own you. You might not like it, and neither do I, but that's the reality. Accept it and move on. They can inflict untold misery on you."

(Please note that I do NOT agree with such a shamelessly spineless attitude myself.)

Wed, 05/12/2010 - 16:38 | 347399 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Now tell me, they did this perfect trading through the winter "dip", and all of THIS is not orchestrated?

Wed, 05/12/2010 - 16:46 | 347412 Duuude
Duuude's picture

(Added to Article).....

"Then they take the float, gun tha market, wash tha profits from tha float and whateverthafuckelse and repo it back to tha Fed do it again and in tha meantime plan on using tha profits to pay their Billion$ in bunu$e$. Straight from your parents and childrens'pockets to them. Ain't life grand AmeriKa !"


Seems like money laundering.

Wed, 05/12/2010 - 17:14 | 347503 Mojo
Mojo's picture

When the government do it, it's not money laundering. There is no law against the Fed. Therefore it's all legal.

Wed, 05/12/2010 - 16:27 | 347367 RockyRacoon
RockyRacoon's picture

So, the helicopters are in the air, but not over Main Street.

Ben never said what the flight plan was.... 

Nobody cornered him on that minor detail.

Wed, 05/12/2010 - 17:43 | 347577 SteveNYC
SteveNYC's picture

LOL!!!! "The Never Ending Bailout" definitely one of your finest.

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