Jon Stewart Takes On Goldman Sachs

Tyler Durden's picture

Jon Stewart, Paul Krugman... seems like the Mainstream Media is really catching on.

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Anonymous's picture

Where is Cuomo on the GS securities fraud of selling CDO's and then betting against them with the CDS's.

C'mon Cuomo - get off the pot. Don't let America think you are just another eunuch feigning as a righteous do-gooder all the while protecting the masonesque aristocracy.

Get off the fucking pot Cuomo and start filing lawsuits and lets get some GS people in the cage.

Anonymous's picture

It's not securities fraud. It's actually law that GS's sales group and its prop trading be separated. They're not allowed to talk to each other. GS deserves a lot of criticism, but not for this. Retarded criticism like this only helps their cause.

Anonymous's picture

"quick throw your bodies under GS, children first they are the softest"
Yes that is exactly what the government have done... the future they have to pay and pay and pay and pay

MarkD's picture

Bingo !!! For some strange reason we seem to forget who is gonna have to pay for the stuff we don't want to pay for.

 

It looks like GS, with all the meany press out there, will need to create a new corp where the thugs can run to and let GS fold.........after they short it of course. And Kudlow can proclaim "we got the bad guys".

 

crazyjerrygarcialover's picture
crazyjerrygarcialover (not verified) MarkD Jul 17, 2009 11:45 AM

We're all going to pay.  The future generations will just spend a much larger percentage of their existence on earth paying compare to older generations.

Anonymous's picture

TD I'd start reeeling in this GS screetching a touch. Your site seems to be jumping the shark to an all GS hater format. You'll keep a cadre of zealots but it does get tiresome for the rest.

Anonymous's picture

Apparently it's not just TD, he's merely providing links to get us to the commentary. What is it like 1 in 5 or so stories over the last few days has been on GS. They're the epitome of all that is bad in the system so why not? And the ties to the current and past admin? Common, I think it's completely warranted.

crazyjerrygarcialover's picture
crazyjerrygarcialover (not verified) Jul 17, 2009 11:46 AM

I second that Anon #8596

Dixie Normous's picture

1)  It never gets tiresome.

2) What should the news of the day be?  Housing starts? 

Miles Kendig's picture

yawn...  Want a little less of what is news look to CNBC.. 

joann's picture

@#8590:  Nope, it's like GS is that damn nasty dog that keeps biting my leg when running down the street, keeps craping on my lawn, everyone knows eventually where it will end, if there is no discipline..

ptoemmes's picture

Then you are really not going to like this: http://trueslant.com/matttaibbi/2009/07/16/on-goldmans-giganto-profits/

 

"

So what’s wrong with Goldman posting $3.44 billion in second-quarter profits, what’s wrong with the company so far earmarking $11.4 billion in compensation for its employees? What’s wrong is that this is not free-market earnings but an almost pure state subsidy.

"

 

Pete

 

Anonymous's picture

Yea Cuomo. Where are you???????????????? Get to work on GS.

Anonymous's picture

I will third that. Cuomo - where are you on the GS secuities fraud?

Anonymous's picture

Cuomo is pussifucated - prove me wrong.

Anonymous's picture

Send this to everyone you know.

Anonymous's picture

Send it to Cuomo along with the comments herein.

Anonymous's picture

CNBC should rename Earnings Central to either Givings Central or Cost Cutting Central.

Anonymous's picture

How to determine if a company poses Systemic Risk: Does Goldman Sachs have a position in it. (courtesy Jack Ablin, Chief investment officer, Harris Private Bank)

Dixie Normous's picture

Was that just on Bllomberg?  I thought I heard it out of context.

Anonymous's picture

Kill the sqid!, er, the Fed, or, is'n it the Octerpuss?

Anonymous's picture

Where is the Attorney General of the United States? Hell will freeze over before anyone in Obama's Justice Department begins to prosecute these crooks on Wall Street.

Everyone in the media seems to forget that Goldman Sachs failed to include their losses from December of 2008 on their quarterly earnings report back in January. Outright corporate fraud that should have put GS executives on trial given Elliot Spitzer's Nifonging of Martha Stewart.

Anonymous's picture

Krugman? the guy whined...he didn't have the balls to talk about what's really going on....

Stewart.....aces....the guy isn't in the markets, and he knows something really stinks.

Dixie Normous's picture

I imagine if he has questions he can always ask his brother:

http://www.futuresindustry.org/larry-leibowitz-.asp

Anonymous's picture

Tiresome here. Look, guys, nothing is going to happen. Are you seriously beseeching Andrew Cuomo to stand up and do what's "right"? You are like the guy at the end of the movie that realizes too late that everybody is an alien.

We will have another week or two of anti-GS and then Jack Welch will die and we'll have the MJ funeral equivalent in the financial press. Then it will be more real estate collapse and then we'll be onto how bad the Christmas shopping season is going to be. And GS will pay size bonuses.

Gabriel Gray's picture

I agree, we should just give it up. It's what every good serf should do.

deadhead's picture

"Tiresome here. Look, guys, nothing is going to happen"

 

Reminds me of the old conversation:

 

Dolly Madison: "James dear, you, Hamilton, and Jay have got to forget that Publius shit.  Nobody is going to stop King George"

 

James Madison: " you know, you are absolutely right darling"

 

Ding a ling:

 

Hamilton: "Alex here"

 

Madison: "Alex, James here.  Fuck that Publius shit.  I'm out."

Anonymous's picture

So Deadhead which are you? Alexander, James or Dolly?

Anonymous's picture

The gladiators fought against the Kings for thousands of years and never gave up.

Cuomo - get it done. Let's here about it today that you are going to cage some GS squids.

crazyjerrygarcialover's picture
crazyjerrygarcialover (not verified) Jul 17, 2009 11:57 AM

Eventually it will come down to us.  God help us all!

 

The purpose of the Second Amendment is to preserve the military power of the people so that they will, in the last resort, have effective final recourse to arms and to the God of Hosts in the face of tyranny.

Jim B's picture

Hey

    It's not like GS is getting the bailouts for free!  They bought them for $5,791,891

   Tyler's link from the other day to the 2008 election cycle contributions for financial firms to our DC politicians

 

http://www.opensecrets.org/industries/contrib.php?cycle=2008&ind=F07

 

Anonymous's picture

Lehman is on the politico contribution list - and they are a was.

Jim B's picture

Lehman was too stingy only $2,246,186.  Besides, GS has completely infiltrated the FED, Treasury, .......

Anonymous's picture

cuomo - get to work. Let's have squid for dinner.

dnarby's picture

I love deep fried calimari...   A little marinara sauce on the side?  MMMmmm!

Gabriel Gray's picture

The health care skit after this was hilarious.

Miles Kendig's picture

Cuomo will never in a million years take a look at GS, except with longing at landing a job at 85 Broad...  Just like Cuomo & Dinallo refused to see the following, or that in some instances it appears as though the good old side letter was replaced with a CDS.  At par.  On our dime. 

From the IRA.

One source close to the matter tells The IRA that policy obligation guarantees (POGs) issued by National Union Fire Insurance Company of Pittsburgh, Pa (NUFIC) and American Home Assurance Company (AHAC), AIG's two most important insurance underwriting units, to various AIG affiliated insurers have effectively rendered these key operating units unsalable.

The source reports that the wording of the POGs is found in the notes to the 2007 NAIC Annual Statements for both NUFIC and AHAC. The quotes below are identical in both of the annual statements:


I. "The Company has issued guarantees whereby the Company unconditionally and irrevocable guarantees all present and future obligations and liabilities of any kind arising from the policies of insurance issued by the guaranteed companies in exchange for an annual guarantee fee."


II. "These guarantees are provided to maintain the guaranteed company's rating status issued by certain rating agencies."


III. "In the event of termination of a guarantee, obligations in effect or contracted for on the date of termination would remain covered until extinguished.


IV. The Company is party to an agreement with AIG whereby AIG has agreed to make any payments due under the guarantees in the place and stead of the Company.

Opines the source:  "Generally, state laws do not allow an insurance company to issue unlimited guarantees that could potentially drain an insurer's entire policyholders' surplus, and further in this case, potentially drain all assets of an insurer.  It is amazing that any state insurance department has allowed these guarantees to be issued and that they have been allowed to continue."    

http://us1.institutionalriskanalytics.com/pub/IRAstory.asp?tag=370

deadhead's picture

I wouldn't sell Cuomo short.......if not Cuomo, some politico will jump on the bandwagon because there are lots of political points to gain by going after Goldman.

Miles Kendig's picture

I won't sell him or most other things short.  Participating in that or just about any other "market" (and I use that term losely) is a waste since the concept of markets is for the time being past tense.

Anonymous's picture

Stewart loves to be close to power, like most liberals. Just look at the way he embraced the "maverick", McCain. Stewart is best when he is pointing out the ridiculousness of the mainstream media, but he still doesn't get that big (f'n huge) government isn't the answer. He's smart, just not smart enough to realize that a handful of people, regardless of their political persuasion, do not have the answers. He still buys into the Demagogues vs. the Repubelicans.

P.S. do the math questions one has to answer to post a reply have to be so difficult. There are smokers out here.

ptoemmes's picture

Please do not insult Jon Stewart by lumping him in with the MSM.;-)

 

Pete

 

 

dnarby's picture

Sorry, he's in the mainstream, therefore he's in the MSM.

 

Not all the mainstream is BAD, mind you.  But he is fairly left wing.

 

I prefer Drew Carey myself.

Anonymous's picture

Stewart lost me as a fan when he all but kissed Barney Frank on the lips a week or so ago.

I wanted to see Stewart go apeshit on Frank just like he did on Cramer, but noooooo.

ptoemmes's picture

I agree that JS was not as his best - to say the least - with Barney nor for that matter with Sebelius the other night - she seemed scared shitless.  Not enough to become a non fan though.

 

Will have a little chat with cousin Jon ;-)

 

PS

Totally unrelated!?, but just saw the Assman rerun of Seinfeld the other night for - what - the 100th time.  I swear that still cracks me up.

Anonymous's picture

Screw the masonesque pyramid. Can you imagine the euphoria in this country of a perp walk of Goldmanites.

Cuomo - forget Governorship - straight to the white house buddy. Go get them on 85 Broad.