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Has SEC COO And Former Goldman Employee Adam Storch Recused Himself From The Investigation?

Tyler Durden's picture




 

Yesterday's disclosure of the 3-2 vote by the SEC to pursue fraud charges against Goldman is just the tip of the iceberg demonstrating how far the tentacles of the Wall Street syndicate reach. Republican SEC commissioners Kathleen Casey and Troy Paredes should immediately resign their posts at the SEC if they are truly unable to spot blatant 10(b)-5 fraud, as opposed to just "expressing" an opinion determined by a few extra Christmas ski trips funded by the Cephalopod Society of America. In which case we understand - at this point the only act that will bring felony charges against American citizens is not being corrupt. However, we have a question: several months ago the SEC hired a 29 year old and extremely inexperienced COO, in the face of one Adam Storch. What is notable about Mr. Storch is that he used to work at Goldman Sachs. We wonder why he has not recused himself of any involvement in this case yet? We have a hard time believing that the COO of an organization will be entirely immune from any involvement in the case. Just like Paulson got a recusal waiver that nobody knew about but him, for bailing out his Alma Mater, shouldn't the same be occurring with young Master Storch? After all, nobody would want to see Goldman appeal the case on a technicality.

 

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Tue, 04/20/2010 - 10:47 | 309241 huckman
huckman's picture

Most Excellent !

Tue, 04/20/2010 - 11:06 | 309274 Cookie
Cookie's picture

+1

Tue, 04/20/2010 - 11:10 | 309277 Alienated Serf
Alienated Serf's picture

resign, or tar and feathering.  how many zeroheads live in squidville?  we need to organize a cook the calamari picket.

Tue, 04/20/2010 - 10:48 | 309244 buzzsaw99
buzzsaw99's picture

Goldman has their tentacles into everything and have greased palms everywhere. The system is hopelessly corrupt. We can't separate the squid from the system nor the corruption from the system because it is endemic.

Tue, 04/20/2010 - 11:09 | 309276 serfdom
serfdom's picture

Nothing will change. SEC is the puppet of big banks. The corruption will go on. Doom day will not come. Look at CHina and Russia, US is still far away.

Tue, 04/20/2010 - 11:13 | 309282 Alienated Serf
Alienated Serf's picture

hey fellow serf.  you are basically right, however, the dems are playing politics on this, but maybe they won't be able to contain the anger of public.  will make great campaigning material, and maybe people will get riled up.  more likley they will watch american idle.  but i can hope.  all of us must agitate.

Tue, 04/20/2010 - 11:24 | 309302 serfdom
serfdom's picture

I put all my heart to this great country. I didn't paid any attention to economy and politics until 2008.  I am witness what is happening in this country, it reminded me a lot of terrible things I lived through in a communist country.  Overthere, people are powerless, majority of people are slaves. I escaped there and I really loved this great country. Now seeing what is going on, I feel heart broken and powerless. sigh.

Tue, 04/20/2010 - 11:31 | 309317 Alienated Serf
Alienated Serf's picture

I hear ya.  However, just remember, we trust the gov less then any other country on earth, and have a lot of angry armed people. 

Tue, 04/20/2010 - 12:47 | 309477 VegasBD
VegasBD's picture

...who believe the document that says its our duty to throw off said govt if need be.

Tue, 04/20/2010 - 11:43 | 309336 hbjork1
hbjork1's picture

william...:

Thanks for the link! 

Do you know who voted yes or no on the Goldman action?  I'm happy to hear the news but have had to pay attention to other things in the last 48 hours. 

 

Tue, 04/20/2010 - 11:43 | 309337 hbjork1
hbjork1's picture

william...:

Thanks for the link! 

Do you know who voted yes or no on the Goldman action?  I'm happy to hear the news but have had to pay attention to other things in the last 48 hours. 

 

Tue, 04/20/2010 - 13:39 | 309572 JR
JR's picture

SEC Chairman Mary Schapiro sided with Democrats Luis Aguilar and Elisse Walter to approve the case, said the people, who declined to be identified because the vote wasn’t public. Republican commissioners Kathleen Casey and Troy Paredes voted against suing, the person said.

http://www.zerohedge.com/article/vote-prosecute-goldman-was-split-3-2-along-party-lines

Tue, 04/20/2010 - 11:14 | 309284 No One
No One's picture

if everyone at the SEC had to recuse themselves because they worked for Goldman, would there be anyone left at the SEC?

 

I thought working for the SEC was one of Goldman's requirements for promotion?

Tue, 04/20/2010 - 11:17 | 309288 ArkansasAngie
ArkansasAngie's picture

Just as wells notices must be published ... Government waivers must be published.

And yes ... cover-ups are illegal.

Tue, 04/20/2010 - 11:19 | 309293 Cursive
Cursive's picture

Excellent reporting, TD.  Another example of why not to believe anything out of squid bitch mouth.  Lost $100M on ABACUS?  Sure, whatever.

Tue, 04/20/2010 - 11:25 | 309304 I need more asshats
I need more asshats's picture

It's the appointment of Storch and other Goldmanites plus the civil vs. criminal argument that makes this whole farce a farce. It's nothing more than a well orchestrated advertisement.

I heard that Reggie Milton is attempting to get the SEC to throw some softballs at the bloomblustblog for shorting GS ($185 -> $75). Reggie(the market mover) claims that his short positions were what caused Lehman to fail. I think those claims are a similar attempt to get BBB into the news and drive his membership base from 6 members to maybe like 8 members.

Tue, 04/20/2010 - 11:52 | 309359 nedwardkelly
nedwardkelly's picture

It's all such bullshit. Why is there a partisan style vote on whether the law is enforced anyway?

Tue, 04/20/2010 - 12:15 | 309421 BlackBeard
BlackBeard's picture

fap fap fap fap fap fap fap fap fap fap @ www.chickswithdicks.com

Tue, 04/20/2010 - 12:21 | 309429 DavidC
DavidC's picture

Naughty Blackbeard...

DavidC

Tue, 04/20/2010 - 13:23 | 309551 Pinky
Pinky's picture

I don’t know why folks are so exited about this lawsuit. The highest levels of the Fed-Treasury-Goldman-SEC nexus are attached at the hip. They were partners in this Crime of the Century - the largest one-way transfer of wealth in world history, this most blatant, ballsy, mindboggling, in-your-face theft - so by definition this piddly lawsuit is a sideshow distraction.   The SEC commissioners themselves are likely complicit.

 

My prediction: As the REAL lawsuits from the big fish victims begin to fly, we can look forward to a lot of evidence being witheld for “national security reasons,” and it won’t even be a lie.  The Paulsons and Greenspans and Rubins of this world are more than just banksters, they are operatives, and having watched the Bankster Faction War(s) for years (cheap seats) I’ve come to suspect this Nexus may also have just executed the biggest sting – or if not that at least the biggest countersting - ever attempted by man.  Meaning nobody will see a day in jail for it, because they were on the Payroll.

Tue, 04/20/2010 - 13:40 | 309569 divide_by_zero
divide_by_zero's picture

Before you tar and feather anyone, Google "goldman sachs sec", number one paid link is barackobama.com fundraiser site for the Dems, SEC action is just another misdirection, unless anyone thinks they are now competent enough to take on GS in court. Good luck on that.

Carry on.

Tue, 04/20/2010 - 20:56 | 310229 tip e. canoe
tip e. canoe's picture

Google "goldman sachs sec", number one paid link is barackobama.com fundraiser site for the Dems

what a coinkindink...nice catch.   can't wait for those financialreform.barackobama.com at the teamster march on wall st at the end of the month.  

Tue, 04/20/2010 - 20:50 | 310219 tip e. canoe
tip e. canoe's picture

only one question:
what did boy Adam know about ABACUS and WHEN did he know it?

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