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Bill Clinton ranting against Rubin/Summers
Clinton appointed OrgCrime/Mob judge
Current hate wave against all things [comprehensible by the populace or not] WS
Hate for GS=Hate towards puppy killing Nazis
FUCK YOU GS !!!! 5 billion fine
[Criminal indictment to follow shortly]
Is there any chance that $5bil could be paid to someone else besides the federal government? I'd rather GS keep it.
$5 billion fine, almost a given; criminal indictments, when pigs fly!
Indictments would let them off easy. Every underemployed lawyer in the world is going to be looking at those suits and their 30 minute bonus payments and looking for an angle to bring suit. Not just against GS but every other suit who ever touched a CDO. This is going to be muckracking on a grand scale and I do mean grand.
When will the lawsuits start against the rating agencies who had an absolutely pivotal role to play as enablers of the fraud that is the real reason for the financial debacle?
There is no accountability anywhere for any of this financial meltdown. Politicians and government agencies are bought and paid for by corporations and banks. Citizens are without representation. The rating agencies are complicit and played an integral part in this, but it goes way beyond that.
I say 1 Trillion.Because I want GS to go down with an EPIC FAIL.
And we need the money.Seriously.
Jail time is the *only* thing that will work. Fines will be seen as slaps on the wrist. Lock up 300 guys for 5-10, now we're talking serious fear.
1000's will come out of the woodwork begging for deals.
A 'transparent' derivatives market is, and has been established. Who honestly cares what happens to GS? If Lloyd is locked up, is that somehow going to end the corruption from the BIS up/down?
No, but we could have a keg party to celebrate his firing squad.
Pass that, would ja?
Ever the optimist, Cheeky! Can't believe you missed the Calamari line though... fried squid anyone!
Unfortunately, I don't see it happening... not yet anyway (but I pray I am wrong).
If you put a squid in an electric chair, is that fried squid? Or does that make the texture off? Wouldn't want to waste a good crisis.
can't decide which is more ironic: squid v. squid or tyler failing to comment.
He did comment by commenting on not commenting. But really, do you think there's much chance the SEC was not aware of the molluscular play on words, i.e., a coded message for the Giant Squid on its sonar screen?
Well. I hope her husband does his country some good and doesn't give her any lovin' during the GS hearings. I want her pitbull grouchy on GS.
You should hope he hounds her and spears and pursues her relentlessly - that will piss her off a lot more than not having any sex. You were thinking like a man, which is okay, but not the mindset that works in this situation. You want a pitbull? Hound her like her only worth is to get plugged!
Here ye, Here ye!
Law and order in the court! The Honorable Judge Barbara Jones presiding!
Will Judge Jones be another Judge Sirica?...another Time magazine Man of the Year?
"Sirica's involvement in the case began when he presided over the trial of the Watergate burglars. He did not believe the claim that they had acted alone, and persuaded or coerced them to implicate the men who had arranged the break-in. For his role in Watergate the judge was named TIME magazine's Man of the Year in 1973."
Judge Jones prior career in fighting Organized Crime & Racketeering is perfect. I hope that Judge Jones, like Judge Sirica, will follow the money, and unravel the Wall Street Racketeer Influenced and Corrupt Organizations Act (RICO) criminal enterprises that are gravely damaging the Nation. Godspeed Judge Jones!
Two Republicans voted against pursuing the SEC case ? Christ, I swear that Wall St. mutants could flood the state of Connecticut and shoot grandmothers square in the face and Republicans would be concerned that prosecutions would lead to "gun control".
People can hold whatever ideology they prefer but when that ideology distorts reality, the country is virtually ungovernable.
Of course, "Democrats" are scarcely any better selling their collective DNC asses to any halfwit with a J.C. Penney suit and a checkbook.
I'm about ready to don the spiked hair, the black trenchcoat, black eye makeup and hustle down to the local WTO rally. Goth and anarchy. That's the ticket.
Joe Is A Racketeering/Organized Crime Expert means one thing... just because it says Judge you thing s/he is on the good side?
And I hope Calamari keeps Cuomo in the loop. Tees up the criminal case for him. Not much chance of Obama's DOJ doing much, because Holder has yet to do anything I can think of? Has Holder's DOJ ever prosecuted anyone for anything? Is Holder still the AG? Does Obama still have a DOJ?
Unethical behaviour, dishonesty, fraudulent behaviour, corruption throughout the system through to inactive regulators, rating agencies and in the pocket politicians has made a mess and mockery of the US Financial system. All these things are accepted as the normal course of business, the natural state of affairs, nothing unusual.
And that people are surprised when criminal deeds are prosecuted than let go simply demonstrate how low the system has fallen.
The current case is fraudulent, unethical and criminal on so many levels it is surprising that you get people coming out trying to defend. Defend what would have to be a text book case of fraud. The bar has been lowered to below the gutter.
The last decade of no rules need apply, no consequences will be inflicted administration and regulatory 'control' has seen a race to the bottom in behaviour. Criminal and fraudulent activities are absolutely fine if you don't make it too obvious; everybody will just wink and nod, knowing what the truth is, but it is ok.
The reset button really needs to be pushed and zero tolerance seen as some distant goal.
The only way discipline and some form of honesty and fear will be bought back into the system is if the regulators make it and the legal system allowed to work with extreme prejudice; no taps on the wrists, no pay a fine and all is well.
THey have to make it clear that the current state of affairs is intolerable.
Goldman Sachs if it has done wrong should be persued with extreme vigor, gutted from arse to neck and its lifeless body tossed in the garbage, the perpetators should be hit hard and where it hurts, individual huge fines and prison.
If the system goes in hard and relentless on this the others will shit their pants and might think twice before they think criminal and fraudulent activity never really has meaningful consequences for them.
Kina, you point to something really deeply wrong with the entire system of checks (cheques) and balances (bank or otherwise) itself.
The way the system is set up, vested interest/bias is a given right? Some peopel are more vested in their point of view than they are in their money. Either way, impartiality in the current judicial context is a joke that is way beyond funny.
In the current case, just imagine how much hush/slush money and favours have passed, directly or otherwise between parties charged/prosecuting.
The outcome is clear at the outset. Fall guys will take the fall and the real perps will walk (because the real perps will never show).
Such is how it is and will be till the whole house of cards goes up in flames.
An Arch E, it must come, but hopefully from an explosion of inner angst and not en-flamed from without (Sara Pale Horse, are ye listening?).
Bring back this guy.
If only we could.
Let's just hope that Judge Jones First name isn't Judy.
in the rush to judgment of GS one wonders if perhaps the allegations have less foundation than what many are hoping for - to that end perhaps GS is simply fulfilling its role (or should I say the administration is fulfilling its role) to quench some of the populist cries for justice in this trillion dollar heist - now if the political PTB were to return the tens of millions of contributions from GS and its surrogates from the past five years I could perhaps be persuaded that these SEC civil charges are more than just a cynical political maneuver
GS as a sacrifice! How fitting, baldy, God loves you too
the charges are real. The facts are mostly not contested. The interpretation is. GS didn't disclose. GS's Wells defense essentially says "everyone was doing it" and GS tried to throw other banks under the bus. That didn't work for them. I'm sure it angered the readers at the SEC, if anything. It's a good Ivy league version of "we all did it, everyone knew, therefore the buyer knew and didn't need disclosure."
Calamari means he's one of them. They live.
as much as i'd love to see fried calamari on the menu, i don't think any real justice is going to be had in the GS case. But i do think public opinion after the inevitable slap on the wrist that GS will get, will be interesting.
Andrew Matthew Calamari -- this guy must know something about frying squid.
Do you prefer an olive oil base or tomato based dipping sauce?
Can we get a Narc into GS? 21 Jump Street-style. Btw, you see what they're up(down)grading to from 85 Broad? http://online.wsj.com/article/SB10001424052702303828304575180581255747658.html
Excerpt: The employee reading lounge features Goldman-approved books, including "On the Brink," the bestseller by former Goldman Chairman and CEO turned Treasury Secretary Henry Paulson Jr. Employees also can thumb through "The Psychology of Persuasion: How to Persuade Others to Your Way of Thinking" by Kevin Hogan and Mitch Albom's "Have a Little Faith: A True Story."
Send the DEA in to 200 West St. to look for hookers and cocaine. Maybe they'll find an 8-ball of blow in Lord Blankcheck's desk (or a hooker under it).
Let's face it. The TBTFs have engorged themselves on the Fed's feast, and have thereby allowed themselves to be fattened up for the political kill, imagining that those in power would never turn against them. They have had good reason to think that. We'll see.
Perhaps you're correct. I do find it interesting that the SEC filed on this particular and unique fact scenario, rather than say....the TCW-Goldman/AIG heist. This case is pretty particular in that it deals with specific representations rather than a general scheme. Had the SEC filed on a general scheme case, like changing the collateral in already insured CDO products, the market would have reacted worse. This case, while meaningful, might have less breadth. Trying to claw back $35 billion for AIG would have an impact.
Thread Hijack - someone is talking smack about TD over on Financial Sense. FYI -
Sites like Zero Hedge have finally shone the necessary light on these disgraceful practices for the first time in the direction of Wall Street. They are scared and they do not know how to operate unless in the darkness and will attack sites like Zero Hedge with every dollar at their disposal to try to discredit them before they end their way of life.
The mafia was only able to exist and function as well and long as it did because Hoover refused to acknowledge them. Wall Street is going through a similar process. They serve NO PURPOSE. There are many people who can lend money not just Wall Street. I can buy stocks myself in a company with Etrade s omeresearch and a stock exchange.
Explain to me why I need a GS or Merrill?
Their way of life is ending and they brought it upon on themselves instead of offering productive unjaded information and analysis.
Huh? I know the author of that article. He's an intelligent, sober thinking investor. In fact, I've had strong disagreements with him on this issue.
That is, until I just read his op-ed. That's a damn good argument that he just put forth.
This is just plain nutjobbery. Erik's not a secret agent for the squid. He's a private investor for God's sakes.
frankie, frankie, frankie..... whats up hoss? despite my sense of smell no longer being that sharp (age and whiskey perhaps), I do detect the pungent odor of human spoor wafting from your buddy eric townsend, his dirty little piece of disinformation (http://www.financialsense.com/editorials/townsend/2010/0419.html)... and from you too!
you say "Huh? I know the author of that article. He's an intelligent, sober thinking investor..."
I say, "WTF is up with you, frankie-boy?" Your tepid defense of your bro who attacked GATA for their fearless leadership all these years and ZH/eric king for being excellent messengers in shining light where the sun dont usually shine is as pathetically confused as it is objectionable. Suggest you exercise more care in the future with respect to the selection of your coprophagist soul mates!!! Believe me when I say that I am doing my very best to be restrained and polite here.
If this is not a perfect demonstration of "shyster-guilt by association," I dont know what is.
I believe he confused Andrew McGuire with Adrian Douglas at one point, and he completely glossed over the leverage issue in the context of "paper hedging paper". I'll show him deference in the call to heed Ted Butler's admonition (to keep the CFTC comments focused), but OBVIOUSLY, Ted Butler doesn't share his opinion of Eric King - and likely not GATA or ZH either. The Puplava's have my respect, but nobody should have their head in the sand when it comes to the game the CBs/BBs run on precious metals. Their own words have confirmed it.
The banks are failures masquerading as successes. They have no reason to exist in a free market economy. They failed.. bye bye..end of story. Let others come forth and replace them with a better mousetrap instead of propping them up as if they were necessary.
Hope you don't mind, it thought I'd add an excerpt:
In the reader comments area under Durden’s article, Jim Puplava is lambasted and labeled a “PumpMonkey”. The words used there with reference to Mr. Christian cannot be quoted in polite company. It would seem that the ZeroHedge community is hell bent on perceiving a conspiracy to exist where none does. A couple of sensible commentators tried to point out that Mr. Christian’s testimony was entirely factual and no cause for concern, but they were quickly silenced with personal insults and ad hominem attacks. ZeroHedge readers are a reality-resistant community, it would seem.
Mr. Durden seems to enjoy tearing apart other authors’ articles and assaulting their arguments, often with abrasive language. I suppose that this article might become the target of another such attack by Mr. Durden. As I contemplate that possibility, Clint Eastwood’s famous line from the film Dirty Harry comes immediately to mind: Go ahead, punk. Make my day.
Over at Obama Central, aka HuffPost, there is an article by Vicky Ward saying that Goldman spent the weekend on the phone repeatedly calling former employees and former customers telling them to play nice. Her conclusion is if there is nothing to hide, there is no need for the browbeating.
Imagine the frustration of being a Master of the Universe but not being able to control every last variable. The mind shudders.
chaos is a bitch
They called everyone to obfuscate the witness tampering they did with a handful.
Same frantic phone call was made to Immelt to get Cramer and Burnett talking up GS's defenses, and Steve Liesman's article about the guy from Paulosn spewing that nonsense about Paulson not really having a role in picking the Abacus reference securities. Panic and urge to manage a situation that could spiral out of control and bring down the house.
And for the defense...
According to POLITICO, the firm has hired Greg Craig, Barack Obama's former White House Counsel, and one of the lawyers who saved Bill Clinton from being impeached.
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