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Ratigan Deconstructs Goldman, Connecticut AG Blumental Wants Criminal Charges Filed

Tyler Durden's picture


We expected Dylan to explode during today's show. We were disappointed as he somehow managed to contain it, and did a pretty good recap of the Goldman affair (if a little too many matchbox cars on the show for our taste). The notable take home for us was that CT AG Blumenthal said that "criminal charges have to be pursued against Goldman." We are sure Cuomo is not too far from this line of thinking. And we would be remiss if we did not point out that credit has to be given where it is due: Gretchen Morgenson (whom half the blogosphere was bashing a month ago over semantics) and Louise Story broke the entire story 4 months ago, and the SEC complaint reads verbatim from the authors' December 24 article.

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Fri, 04/16/2010 - 20:10 | 304987 NP40
NP40's picture

The GS fraud charge coincided nicely with Obama's press release on Financial Reg Reform today. A coincidence I'm sure.

Once in a while they have to hit the "release" valve to satiate the populace. Oddly enough, the prosecutor handling the "Squid Fib" investigation is more than competent, in fact, some have stated he's tenacious. Did GS forget their monthly "tribute" to Treasury ?

Fri, 04/16/2010 - 20:55 | 305030 ZerOhead
ZerOhead's picture

Tenacious is one thing... but is he tentacular?

Remember... The squid does not lose!

Sat, 04/17/2010 - 10:50 | 305595 tmosley
tmosley's picture

But he might just be able to shed his skin.

Sat, 04/17/2010 - 07:47 | 305422 dcb
dcb's picture

the time this was done right before the regulatory vote i noticed too

if you looked at ascending traingle spy 120 was  my target this was from many months ago (I have proof) also a great top key

we had a double bottom in long term treasuries (tlt)

the government doesn't want too hot a market. this raises their borrowing costs and brings inflation (oil/commodities). so they also  don't want to have to raise rates.

the fed is going to try and balance inflation/deflation oucomes.

the spread on long term notes (betwenn fed funds) and treasuries has never been greater


Fri, 04/16/2010 - 20:12 | 304991 BrianOFlanagan
BrianOFlanagan's picture

exactly - even if he SEC does nothing but a slap on the wrist, the state AGs, some of which are not owned by GS, will do some real damage.  Go get 'em Blumenthal.

Fri, 04/16/2010 - 21:04 | 305049 Tethys
Tethys's picture

Definitely - with everyone piling on, the $$$ could really add up.  And since GS is way too big to fail, the costs of the subsequent bailout will be borne by ..... ah shit.


Sat, 04/17/2010 - 10:53 | 305604 tmosley
tmosley's picture

Interestingly, it would amount ot a transfer of wealth from the population of corrupt states to the population of less-corrupt states.

That's a hell of a thing.

Fri, 04/16/2010 - 20:30 | 304993 Cognitive Dissonance
Cognitive Dissonance's picture

This little lawsuit (with hopefully more to come) is just in time to be used as an excuse to take the market down. Clearly they (GS and the rest of the Ponzi) knew this was coming since there were inquires by the SEC of Goldman. So this helps to explain the near desperate and relentless stock market pump over the past few weeks, with rarely a down tick allowed. I was saying just yesterday that the RSI was at 20 year highs along with other market indicators. Now we know why. This should be an interesting experiment to see if the coming selling can be contained or if we will visit 666 once again.

Fri, 04/16/2010 - 20:47 | 305022 Alienated Serf
Alienated Serf's picture

Indeed, they were well aware of this issue before this JOKE of a settlement

Fri, 04/16/2010 - 21:06 | 305037 Howard_Beale
Howard_Beale's picture

Give it 16 months, CD....333 S&P and Dow 3000. We are just at the beginning of many eruptions (some volcanic, some not) and while the buy the dippers will give it one more heave ho, this baby is going to plummet.

I do believe our beloved blog has become too jaded. This bear market rally was expected to go this far by a number of extremely good technicians--from Peter Eliades, Eric Hadik, to the Elliott gang. The Ellioticians thought 10,300 to 10, 500. Eric Hadik had 11,300 for his final top on April 15-19, and Eliades is calling for the top now.

This has been a normal bear market rally and it has either topped or will make one last stab soon. Whatever the excuse, it has done it's job. It has scared the shit out of the bears and most of the people on this blog. 

Fri, 04/16/2010 - 22:04 | 305112 jdrose1985
jdrose1985's picture

Give it 16 months, CD....333 S&P and Dow 3000

Agreed. This ain't over by a long shot. Dow 2600 is more like it (sounds crazy doesn't it?)

ZeroHedge is the place I come to for all my current event lessons and dissections.

For my history lessons I use The world has always been simply management vs labor, not a fucking thing more.

Debasement, anyone?

Fri, 04/16/2010 - 23:29 | 305226 ZeroPower
ZeroPower's picture

Dow 2600? So S&P 200?

Come on man. I know its cool to be a bear and everything (here) but enough with this doomsday shit being posted. You DO realize if the indices would ever make it that far below, that would imply that a company like WMT is worth about 1/6 of what it is today. Along with all other (non-risky, non financial laden with toxic shit) companies. I realize P/Es are out of this world currently but i feel many posters here claming 'DJIA 3000' by end of year are simply perpetuating the crazy semantics of a few even crazier folk.

Dont take this post to be treated as moronic bashing from a bull, cause i dont intend it that way, but these bearish prophecies (nothing more) are quite stale. Yes a correction (or even new crash) is coming, but not to the levels some people here hope for.

Sat, 04/17/2010 - 01:47 | 305330 chindit13
chindit13's picture

Perhaps I speak from an experience which is not relevant, but I cannot rule out the possibility that a Dow of 3000 and an S&P of 350 might be in our future.  Does that mean WMT might be worth 1/6th of what it is "worth" today?  Why not?  Customers and sales are not a given, for anybody.  Indeed, a market collapse---or a great deflation---creates a negative feedback loop that decimates the factors on which the old valuations rest.

I worked as a prop trader in Japan for many years, through the top of their bubble and well into the decline everyone else there said was impossible.  From peak to trough the market fell 80%.  Real estate, in many places, fell 95%.  Those who could not think the unthinkable got hammered.  Even as the fall began, my Japanese colleagues (in a non-Japanese firm) kept assuring me---and challenging my bearishness at the same time---that either values would bring in buyers or the PTB would bring a halt to the madness.  Equities fell first, RE later.  Even when the Nikkei had tumbled, I was assured again that the government would not allow property to tumble.

We all know how that worked out.  Buyers were non-existent because everybody who wanted to be long already was.  Assets were leverage by other assets, kind of a tautology that meant any collapse became self-reinforcing.

That is not unlike what we have in the US today, with one major exception:  Japan was lucky the rest of the world was booming.

We are not so lucky.  Any boom we are seeing now is based on money creation.  The world is already sitting on enormous excess capacity, having created it with a level of debt not even imagined during Japan's heyday.

Ron Paul noted one of the idiocies of the optimists' current state of mind when he asked Bernanke if it made sense that Greece was donating to an IMF fund that would be used to bail out...Greece.

You might call me a "doom and gloomer".  Maybe I am.  Though it may or may not be relevant, I am pretty math savvy and I am fortunate enough to have attended our nation's top universities (BSc and MBA).  I think I understand economics.  I cannot see any possible way that the US, or the world for that matter, escapes a decline unlike anything modern society has ever witnessed.  The numbers don't work.

There is no savior out there, only a pile of false hopes and delusions.  China is not going to save itself, much less the world.  With 99% of its population earning less than $6K/year, the universe of potential buyers for all of the residential and commercial space they are producing is not large enough to absorb 2% of what will exist.  In the manufacturing sphere, China is now constructing steel capacity equal to what already exists in the rest of the world combined.  Unless you can point out where the demand for that steel is going to come from, there's a lot of deflation in our future.  Other industries are about to face similar capacity use issues.

We've had a great rally.  Every stop was pulled out to make the rally happen, and it lifted the spirits of much of the populace.  What it did not do was employ anyone, nor did it address any of the problems that caused the initial decline.  All we've gotten is more debt, and a slew of cheshire cat grins on the talking heads of CNBC.  The bad debts are still there.  The savings rate, while initially climbing, is again approaching zero percent in the US (and will go below zero in Japan this year).  Consumer debt levels still stand at 97% of their all time high, and this at a time when income is at best steady and more likely falling.  Don't worry if you haven't gotten your iPad yet;  soon you'll be able to pick them up by the truckload when you are the last one left with cash or available credit.

We've played a great shell game, but we've run out of places to hide.  Sovereign debt explosions were the last stop, and already (Greece, Portugal, Spain, Italy, CA, the US overall) we're having trouble paying the bills.

It's game over.  Given the experience of the last two years (bankrupt LEH, FNM, FRE, GM, C, BSC, AIG), and remembering the lessons from Japan post 1989, Taiwan in the 1990's (12000 to 2000), China from 2007-2008 (5100 to 1800), one would be foolish to rule out anything.

It is not doom and gloom;  it is historical precedent.  I'd like to be wrong, but I fear even I might be too optimistic.  Perhaps "people smarter than me" think we're out of the woods.  I guess long ago people smarter than me also "knew" the world was flat, and more recently people smarter than me knew Japan could not tumble.  We'll see who's right this time.

Sat, 04/17/2010 - 01:55 | 305337 Bear
Bear's picture

The Black Hole awaits ... the FED's bullets are gone and I hear the buzz ... do our leader's in DC understand? or are they just hoping for change?

Sat, 04/17/2010 - 07:30 | 305414 Howard_Beale
Howard_Beale's picture

Well said, Chindit. I also have all the credentials and am math savvy. I don't see it as gloom and doom at all. It's a natural end to a credit bubble and toxic waste.

Sat, 04/17/2010 - 09:34 | 305437 Cognitive Dissonance
Cognitive Dissonance's picture

HB and Chindit

The people who accuse us of being "all doom and gloom" are precisely those whose only active ingredient in the recent stock market pump was hope, wishful thinking and herd mentality. Their accusation of our emotionality is actually their implicit agreement that it was all smoke and mirrors, help aloft by a suspension of gravity and accomplished through the temporary suspension of logic, reason and common sense. They understand that the pin prick of reason will eventually (and quickly) deflate their balloon.

Sat, 04/17/2010 - 09:59 | 305496 Crime of the Century
Crime of the Century's picture

Hey, even Rickards gets cheap-shotted by some morons here, so good company is abundant.

Sat, 04/17/2010 - 14:08 | 305825 sheeple
sheeple's picture

The people who accuse us of being "all doom and gloom" are precisely those whose only active ingredient in the recent stock market pump was hope, wishful thinking and herd mentality.

People better start getting outta their fucking alice-in-wonderland utopian bubble and acknowledge what's going on around them. Fuck the stock market, look at our jobs and education system for starters, then move onto tax systems and monetary policies ... stock market ? give me a break


Sat, 04/17/2010 - 08:54 | 305451 SWRichmond
SWRichmond's picture

That is not unlike what we have in the US today, with one major exception:  Japan was lucky the rest of the world was booming.

We are not so lucky.  Any boom we are seeing now is based on money creation.  The world is already sitting on enormous excess capacity, having created it with a level of debt not even imagined during Japan's heyday.

Life was easier than it should have otherwise been for the past 25+ years, thanks to central bank easy money pulling forward a generation-worth of demand.  Things are now going to be harder than they otherwise should have been: math.  And we can't even start the process of recovering until truth reigns in the financial markets and in the economy.

Sovereign debt explosions were the last stop, and already (Greece, Portugal, Spain, Italy, CA, the US overall) we're having trouble paying the bills.

A debt that is unpayable will not be paid.  It will be defaulted either through currency debasement or outright default.

Sat, 04/17/2010 - 14:57 | 305872 cougar_w
cougar_w's picture

The future was raped by the present in service of the errors of the past.

I have children. I'm very uneasy about what has happened.

Sun, 04/18/2010 - 10:00 | 306545 SWRichmond
SWRichmond's picture

We have two young adult children who are entering what should be the most exciting and productive period of their lives.  We have anchored them both firmly: the thing that matters in life is family, and that will sustain them.  They are both incredible young adults, I am extremely confident in them, but I am a lot more than "uneasy" about what has happened, and what continues to happen.  It will be made more difficult by living in a declining empire. 

Sat, 04/17/2010 - 10:16 | 305531 badgerman67
badgerman67's picture

Solid post. 

One of my guys tells me S&P peak of 1250, before resuming downward trend to 450.  Sell side guy that used to work for GS. 1215 works for me.  Just another guys opinion.

Sat, 04/17/2010 - 11:27 | 305618 velobabe
velobabe's picture
WATCH Simon Johnson: Find, Fund Candidates To Beat 'Corporate Nonsense'

this is good, except you have to look at dimon's face.

say the least, simon was pretty busy last night, looks like you were too.

WATCH Johnson On Bill Maher: Broken System If Goldman Investor Avoids Charges

holy heck batman, this dude owns a mansion right next door to david bonderman.

Russian billionaire Roman Abramovich's mega-yacht Eclipse

PHOTOS: $500 Million Yacht Sets Sail
Sat, 04/17/2010 - 11:40 | 305667 Hulk
Hulk's picture

Well put Chindit13, its not doom and gloom, its reality that we all had better figure out how to deal with before it comes down.

Couple all your thoughts with peak oil, the end cheap energy, and one can easily see that no recovery is possible.

We are living at the most critical inflection point in human history....Our delusional thinking and corrupt behaviour has destroyed has our not understanding of basic math.....


Sat, 04/17/2010 - 15:04 | 305879 cougar_w
cougar_w's picture

The crime of unbridled greed is being compounded now by misdirection, inaction and propaganda from world leaders, including the POTUS.

We could have used this time to prepare our cities, states and support infrastructure for the coming calamity. But we did not. Epic fail. The worst case scenario has been realized, and like Chindit above I fear that even saying that is leaping optimism.

Sat, 04/17/2010 - 14:54 | 305868 cougar_w
cougar_w's picture


Brilliant synthesis of the salient facts.

Typical of chindit.

Sat, 04/17/2010 - 16:15 | 305941 tom a taxpayer
tom a taxpayer's picture

Excellent, chindit13,...heaping doses of reality.

Sun, 04/18/2010 - 12:19 | 306659 dark pools of soros
dark pools of soros's picture

so did you make huge bets that had to be backed by their taxpayers or were you just window shopping???

Sat, 04/17/2010 - 01:47 | 305331 Bear
Bear's picture

It is cool to be 'the Bear' ... thanks for the affirmation


Sun, 04/18/2010 - 15:21 | 306855 jdrose1985
jdrose1985's picture

I realize P/Es are out of this world currently but i feel many posters here claming 'DJIA 3000' by end of year are simply perpetuating the crazy semantics of a few even crazier folk.


Who said "by year end"? I'm looking at 18-24 months. I'm not prophesying and i'm not even capable of crunching these type of numbers myself. I'm just sticking with the numbers of the very few and hard to find people who have been calling this thing correctly all along.


When you realize that the entire boom/bust cycle is artificial and instituted by certain religious entities who are pulling strings behind the scenes (aka globalists, faces you are extraordinarily familiar with), you will begin seeing things in proper perspective. These power structures never die and government simply their tool of artificial inflation and debasement (volatility). Revisionist history/misinformation is the greatest ally of these "immortal" structures.


Just look at the "coincidences" surrounding the rise and fall of Enron as a prime example and it may take you on a trip you wish you had never taken. There is no greater and uneasing burden than the truth.


The internet is the first chance the hens have been given to beat the fox at his own game. Zerohedge and other sites are the embodiment of this opportunity and I can only wonder how much longer we will be allowed to freely exchange information such as we currently are.


The crash will not be finished until the newest (high-speed railroad) industrial revolution begins in earnest. Look for it and if you're not one of those writing the rules, avoid the speculative markets until we "break on through, to the other side".






Sat, 04/17/2010 - 00:48 | 305290 Alienated Serf
Alienated Serf's picture

ha, i am always over there too.  would love to see reinhart here

Sun, 04/18/2010 - 20:06 | 307138 jdrose1985
jdrose1985's picture

Alienated Serf I've recently posted a couple of links to Reinhardt's Journal here hoping to send some people his way to spread the knowledge.

Even the free site is a world of information well worth diving into. The sub site is cool but probably a little more than somebody such as myself needs, but it's interesting to see the worker drones airing dirty laundry in real time ;)

Fri, 04/16/2010 - 22:43 | 305173 A Nanny Moose
A Nanny Moose's picture

Always more ice than meets the eye.

Sat, 04/17/2010 - 15:09 | 305885 cougar_w
cougar_w's picture

... and it's the ice under the water that hits you below the waterline and sends you augering into the deeps.

Sat, 04/17/2010 - 05:42 | 305381 Socrates
Socrates's picture

peter Eliades was so astonishingly wrong on this rally up to 950 that I cancelled my subscription. In April and may off 2009 he thought we'd have a brief rally and collapse.

Sat, 04/17/2010 - 08:33 | 305438 cossack55
cossack55's picture

We are too jaded?  Hmmm.  Could that be because, oh, I don't know, we pay attention.  I would'nt confuse a jaded oulook with a objectivist view of reality. A is A.  But I do concur with your predictions, though you may be a little less jaded than I.

Fri, 04/16/2010 - 21:00 | 305040 rubearish10
rubearish10's picture

There's enough hatred of GS that this could get some legs and sustain a downturn. Also, should there be further cases against other IB's, I think the valuations could get slashed for sure. With that, a "Goldman Contagion" perhaps could ensue with additional support of Greece, Portugal, China R/E and a few more disturbing US economic reports. There you go, SPX 666 here we come.... 

Fri, 04/16/2010 - 21:02 | 305047 Alienated Serf
Alienated Serf's picture

spot on brother man.  

Fri, 04/16/2010 - 21:05 | 305053 rubearish10
rubearish10's picture

Yeah and maybe we're being conservative on that call. Beale could be more accurate w/333 call, hee hee LOL!

Fri, 04/16/2010 - 22:33 | 305158 Crime of the Century
Crime of the Century's picture

That's why Denninger carries SPX 210.23 on his banner every day...

Sat, 04/17/2010 - 01:44 | 305329 Bear
Bear's picture

If the EU can pin its problems on GS ... what a ride!

Sun, 04/18/2010 - 19:57 | 307143 Alienated Serf
Alienated Serf's picture

wait, the EU blame Americans? no wai!!!

Sat, 04/17/2010 - 14:10 | 305828 sheeple
sheeple's picture

GS = mirror image of Drexel Burnham Lambert

Fri, 04/16/2010 - 22:05 | 305121 SRV - ES339
SRV - ES339's picture

Too early for S&P 666 CD!

November is too important to let it crash now (after all that hard work over the last year)... DOW 10,000 (again... we all should have invested in those damn caps) looks like a sure thing though.


Fri, 04/16/2010 - 23:16 | 305216 Howard_Beale
Howard_Beale's picture

Perhaps you don't remember the market from 2008--the elections had nothing to do with what the market did. Sure, it rallied a tad into election day, but look at the chart.

The market is bigger than QE, politicians, and everything else. No way we rally into November unless it's a bounce off an October low.

Fri, 04/16/2010 - 22:36 | 305163 Fazzie
Fazzie's picture

CD, I too noticed a huge full court press on the pumping front.

The usual elements, biased interpetation of economic data, ominous news ignored, media pumping the market and predicting smooth sailing for at least another qtr. Lately though they ratcheted up the BS several notches to the point you would read a cnbc headline that screamed earnings beat, and would be an outright lie, were it not for the actual numbers they sheepishly buried several paragraphs into the article which indicated it was actually a miss! Every positive was trumpeted as evidence that full recovery was imminent and the feds magic was getting results, and every negative was given a convoluted excuse. Snowstorms, Easter bunnies, whatever. Just when even folks here at ZH were about to throw away the tin foil hats and go long citigroup, a black swan in its own right, actual SEC action against the squid itself, swims onto the scene! Timing is kinda suspect, OPEX day of course, after everyone loaded up on zombie bank calls; the "rally" had tortuously been propped and stick saved to the point where just about every greater fool that could be created had been; Dodds financial "reform" (sans actual reform) needing a boost along with the Messiahs sagging popularity ratings. All seems kinda staged, at any rate Im crying no tears for the squid, cnbc can take heart they have probably allready decided Gods work now entails shorting the bejesus out of everything, including the stuff the taxpayers have a stake in. Me, Im ridin with the squid! Im short a bunch of overvalued stocks for awhile anyway. I know the melt up can resume at any time the zombies and the fed decide it shall, so stops are in order. I think Im finally catching on and damn, that little abacus cdo swindle really isnt a pimple on the ass of corruption that has become the status quo.

Fri, 04/16/2010 - 22:40 | 305166 Fazzie
Fazzie's picture

Damnit, I had that long winded drivel relatively readable with nice paragraphs!


Computer took them away!!

After I was proud of nailing the capcha in just two tries!!

Sat, 04/17/2010 - 15:18 | 305897 cougar_w
cougar_w's picture

But without the paragraphs gives it a kind of edgy "stream of thought" effect.

Next time, leave out the punctuation and the CAPS. True art should not be easily accessible.

Sat, 04/17/2010 - 15:35 | 305913 velobabe
velobabe's picture


After I was proud of nailing the capcha in just two tries!!

me too, now i know who to call for 911. math savvy, chinthe and howard†

Mon, 04/19/2010 - 14:56 | 308364 yipcarl
yipcarl's picture

Nice post Fazie.  I 100% concur... WELL SAID.

Fri, 04/16/2010 - 22:45 | 305171 aint no fortuna...
aint no fortunate son's picture

You're right, and now we know why...

RSI's on the indices and hundreds of individual stocks were up over 80 and even up against 90 in many cases.. never saw anything like it.. and in some cases they were up there for weeks on end.

The 2 period RSI was over 99 on the INDU, SPX, COMPQ and NDX for the last two weeks non stop, and over 90 for 5 weeks.

But step in and try to short it and you got your ass handed to you, day after week, the most grinding, frustrating hell I've ever gone through.

Well, now that the SEC is on the case, anybody know who's the favorite to win American Idol? Gotta give the Sheeple some fodder too...

Sat, 04/17/2010 - 01:39 | 305325 Bear
Bear's picture

I wish we could prove that GS was behind melt up ... if they lay low for a week that may be all it will take. But, how many long SPY's and ES's do you think they have? If they have supported every dip since last July, I suspect that they have a pretty significant stable of longs ... and they didn't get rid of them all with 1000 SP's sold above 1200.


More to come? or Meltup Monday and life as usual?

Fri, 04/16/2010 - 20:15 | 304997 dax.
dax.'s picture

$25 mm dollar fine, the VP gets banished for life, and societies' desire for

scapegoat payback will be fulfilled.


meanwhile, Lord Blankcheck gets 1 billion severance check to "go away"

Fri, 04/16/2010 - 20:34 | 305008 THE DORK OF CORK
THE DORK OF CORK's picture

I am sure that the Good Old Boys of the SEC will rid the town of varmints and bandits 





Fri, 04/16/2010 - 20:38 | 305012 deadparrot
deadparrot's picture

Hehehe. Dare to imagine it. An ever widening criminal investigation of GS, states desperate for some cash to shore up their horrible budget deficits, aggressive attorneys... I'm getting all warm and tingly.

Fri, 04/16/2010 - 22:34 | 305160 Crime of the Century
Crime of the Century's picture

Think tobacco... think class action

Sat, 04/17/2010 - 00:33 | 305276 nowhereman
nowhereman's picture

I really think this thing has legs.  It's the wedge that will end up opening many doors.  Once the MSM starts to report on this, regardless of the outcome, the blood sport is on.  It will not be contained to Goldman.  We'll see Fuld and Mozillo go down as well as Wells Fargo/Wachovia and Citi Group and especially J.P. Morgan/Chase for their manipulation of the commodities market.  Stay tuned folks, the proverbial sh#t is going to hit the fan.  It's simply impossible to hide this crap anymore, the word is out, the blogosphere has won the day.

Sat, 04/17/2010 - 01:33 | 305321 Bear
Bear's picture

Wishful thinking ... unless Obama takes note this weekend ... forget it and buy for melt up Monday.

I hope you are right about this but it's a far cry from one CDO deal to Armageddon.

Fri, 04/16/2010 - 20:50 | 305026 Alienated Serf
Alienated Serf's picture

o/t I just wanted to take an opportunity to point out how idiotic bankers are, my ex-lahmanite, subprime securitizing brilliant brother just booked his August honeymoon to GREECE!! LOLOL  is august!  Like the airport will be open or he will survive the fussilade of molotov cocktails that will await him and his goldigging bride!!

i am cynic hatred.


Fri, 04/16/2010 - 22:59 | 305199 Sisyphus
Sisyphus's picture

That's funny right there. I don't care who you are!

Fri, 04/16/2010 - 20:53 | 305029 Dehrow
Dehrow's picture

Well, MSNBC definitely ultra-liberal for sure. Car explanation was a bit annoying.

I would most likely do Nomi in the mouth though, if given the chance.

And Dude, I'm totally listening to Dead Kennedys right now, good call.

Fri, 04/16/2010 - 20:55 | 305032 LongShortSally
LongShortSally's picture

I wonder if they've forgotten about the software that Sergei Aleynikov downloaded as he left Goldman for another job - you know, the software that could potentially manipulate the market if in the hands of someone other than the completely honest and above board Goldman Sachs.   

Sat, 04/17/2010 - 15:37 | 305916 cougar_w
cougar_w's picture


It's unlikely that bit ever figured into their thinking even once.

Computers are for email and prOn.

Fri, 04/16/2010 - 20:56 | 305034 justbuygold
justbuygold's picture

Its interesting that Goldman knew the charges were forthcoming a few weeks ago.  That gave them lots of chance to short S&P's / gold / silver  so they could profit from their own bad news.  They've probably already covered off whatever fine will be imposed on them from the profits from today's downdraft. 

Fri, 04/16/2010 - 20:59 | 305039 docj
docj's picture

BTW, who had "6" in the bank death pool today?

This week's honor roll:

Riverside National Bank - Fort Pierce, FL

First Federal Bank of North Florida - Palatka, FL

AmericanFirst Bank - Clermont, FL

Butler Bank - Lowell, MA

Lakeside Community Bank - Sterling Heights, MI

Innovative Bank - Oakland, CA


Fri, 04/16/2010 - 22:43 | 305172 Dburn
Dburn's picture

The winner is 8. They updated it I think

Sat, 04/17/2010 - 01:28 | 305318 Bear
Bear's picture

Innovative Bank - Oakland, CA ... Aptly named bank

Sat, 04/17/2010 - 15:39 | 305920 cougar_w
cougar_w's picture

They wouldn't have had much of a chance being innovative in Oakland unless they were a front for drug or gun running.

Fri, 04/16/2010 - 21:05 | 305051 Pure Evil
Pure Evil's picture

I have to wonder now if Goldman will become the next Lehman to be taken down, or taken over like AIG and used to conveniently disappear trillions in derivatives down the Goldman Scrotum rat hole.

This all smells to high heaven and I'm not talking about New Jersey.

Like anything else this is just theatre and who knows how many billions? trillions? will be printed to cover this latest fiatsco.

Or is this the cover needed to nuke Iran with a market meltdown and the start of the next world war?

Sat, 04/17/2010 - 15:48 | 305923 cougar_w
cougar_w's picture

If there is a reason to take down GS it is only because they have served their purpose (to siphon off as much money as the middle-class can lose) and have outlived their usefulness (as a front for criminal market manipulations) and the money so concentrated is to be forwarded (laundered) into a less visible (suspect) enterprise.

Preferably one out of reach of any of the State's AGs once the food riots start.

A reason like that.

Fri, 04/16/2010 - 21:11 | 305061 erich
erich's picture

What about Magnetar?

NPR and Pro Publica, both non profits, broke the story last week how Magnetar may have started the trend of creating subprime product in order to short against it.

Sat, 04/17/2010 - 12:14 | 305702 fallst
fallst's picture


The real fun stuff started when they knew housing was gonna tank, back in 2006, so they created time delay stinky synthetic CDO black boxes, then used the initial income from those to buy CDS against them. Elegant.

Fri, 04/16/2010 - 21:14 | 305063 Hephasteus
Hephasteus's picture

Why worry about what is going on? It's going to be monkeys fucking a football right up till it collapses on their head. By the time they are willing to do what it takes to fix it, it'll be too little, too late.

I said it a year ago. I'll say it again. God the powers that be, whatever you want to call them. Are going to have a psychotic break.

Sat, 04/17/2010 - 15:51 | 305925 cougar_w
cougar_w's picture

[It's going to be monkeys fucking a football]

Literally LMAO.

I <3 ZH. When the shadow comes I will yet look back and fondly remember these hours here as very well spent.

Fri, 04/16/2010 - 21:14 | 305066 10044
10044's picture

AP- Sunday 4/18/2010

Dylan Ratigan was found dead at his home of an apparent suicide. He shot himself twice at the back of the head. Neighbors described him as a drunk, lonely man who was suffering from depression.

copyright - AP (Additional reporting by Erin Burrnet and Steve Liesman)

Fri, 04/16/2010 - 22:47 | 305176 Mentaliusanything
Mentaliusanything's picture

and the crime scene investigators considered it the worst case of suicide they had ever encountered  --- LOL

Sat, 04/17/2010 - 10:36 | 305565 FEDbuster
FEDbuster's picture

Too obvious. It will be a car accident like Andrew McGuire, the JPM silver whistle blower.

Fri, 04/16/2010 - 21:18 | 305073 Akrunner907
Akrunner907's picture

It is too bad that GS and others didn't remain as partnerships....the economy would be a better place.   If you are using other peoples' money, you are more willing to play the business like a vegas roulette table - unless you have ethics and understand fiduciary duty.

Sat, 04/17/2010 - 01:25 | 305317 Bear
Bear's picture

What Does Glass-Steagall Act Mean?
An act passed by Congress in 1933 that prohibited commercial banks from collaborating with full-service brokerage firms or participating in investment banking activities.

Sat, 04/17/2010 - 08:06 | 305428 UGrev
UGrev's picture

one of the few things that came out of congress that actually worked. 

Fri, 04/16/2010 - 21:20 | 305075 globopolis
globopolis's picture

I suspect this is little  more than sound and fury.

If GS is taken down then their alpha vassal, Osaurus, and his GS retainers along with congress will also have to be taken down.  The chances of this happening are very close to zero.

Fri, 04/16/2010 - 21:21 | 305078 optimator
optimator's picture

The CT AG, Blumenthal, is in a tough race for the Senate and it looks like he'll have to run against Linda McMahon who's clean and president of the WWF.  She's using millions of her own money and is beholden to no one.  Blumey is famous for pursuing anyone that will get him some publicity, and the state does need money.

Fri, 04/16/2010 - 21:26 | 305086 Eally Ucked
Eally Ucked's picture

I know that I'll be junked at once but what the heck. Is there anybody than Jewish people involved in financial life of US? And who is prosecuting vilains? The same guys?

Fri, 04/16/2010 - 23:18 | 305218 trav7777
trav7777's picture

Show of support from me for pointing out the uncomfortable but rather obvious truth of virtual monoethnicity in high finance.

Sat, 04/17/2010 - 01:22 | 305315 Bear
Bear's picture

Broken records are just that ... broken

Just get a life.

Sat, 04/17/2010 - 10:20 | 305540 trichotil
Sat, 04/17/2010 - 11:58 | 305683 Hulk
Hulk's picture

A rabbi told me the following:

The jewish bankers had to follow old testament rules for lending out money. Interest rate on  a loan was determined by your wealth. Those with very little money were charged extremely low interest rates,while the wealthy paid a higher rate. It is primarily this fact that has made jewish bankers so prosperous...

Thats what a rabbi told me. I never did attempt to verify it



Sat, 04/17/2010 - 15:28 | 305907 merehuman
merehuman's picture

Eally, i will join you by suggesting what if all the jews in the WH were black, or green with horns, would anybody notice? Cause there are more than few. Their power is far reaching and affects us all. Being a racist is new to me, cant help but acknowledge whats in front of us.

Oh go ahead, junk me, you know you want to and my ego will die without  your attention.


Fri, 04/16/2010 - 21:36 | 305094 mudduck
mudduck's picture

Almost sounds like Dylan had things explained to him by someone who really knows his stuff (except for the tonka part). TD?

Fri, 04/16/2010 - 21:37 | 305097 dark pools of soros
dark pools of soros's picture

they ditched all the evidence at 85th and Broad...  nothing to see here at 33 Liberty

Fri, 04/16/2010 - 21:47 | 305102 Akrunner907
Akrunner907's picture

So is GS still doing "God's work"?

Fri, 04/16/2010 - 21:49 | 305103 HEHEHE
HEHEHE's picture

I don't know what I'm more impressed by, Ratigan's summary, or his ability to do it without dropping a single F-bomb

Fri, 04/16/2010 - 21:56 | 305109 Jake3463
Jake3463's picture

States are all looking at a Pension shortfall.  This was bound to happen eventually.  Increase taxes or kill the squid and take the loot the squid stole from you.

There are 50 state attorney generals right now looking at the squid and seeing Calimari and a Governor's mansion if they can take the Squid for all that it has left.

Fri, 04/16/2010 - 21:56 | 305110 SayTabserb
SayTabserb's picture

These must be incorrect listings. Only banks in Atlanta fail. I read it in Krugman on Monday.

Fri, 04/16/2010 - 22:01 | 305115 SayTabserb
SayTabserb's picture

The way you can tell that GS is in deep ka-ka by reading through their more detailed rebuttal.  After praising the investors to the sky, their acumen, their sophistication, and the review of the German bank of the entire portfolio, NOWHERE does GS make the most important claim: that GS disclosed to the investors that a major short investor, Paulson, was involved in choosing the RMBS in the CDO. They admit the gist of the case by what lawyers call the "negative pregnant" - a failure to deny the most important nondisclosure under Rule 10b-5.  Fried calamari for dinner? Dylan goes a little astray in his too complicated explanation.

Fri, 04/16/2010 - 22:48 | 305178 RichardENixon
RichardENixon's picture

I heard that GS disclosed every party involved except Paulson, which if true is particularly damning evidence.

Fri, 04/16/2010 - 22:03 | 305117 trav7777
trav7777's picture

If they actually take down GS and the market, the plebes w/ the 401ks will squeal so fucking loud they will demand that it stop.

There is NO politically saleable point now in destroying the market to prove a point to a TBTF.  The market and gov'ts fortunes are now intertwined, and they cannot back this out.

They either inflate or else the gov't goes poof.  Even if they were to crash SP to 333 and drive all the money into "safe" bonds, the crash wave on those would come almost overnight.

Everytime the market drops a whole 100 points people in here get an erection.  Watch it go vertical on Monday

Fri, 04/16/2010 - 22:17 | 305137 jdrose1985
jdrose1985's picture

Could go vertical. I'm almost expecting it to, by this point.

However, in the long run the underlying structural damage is still there. Nobody is expecting this bitch to roll over dead and sink to 333, not even people as smart as you, trav. Which is exactly why it will happen. Government is simply a tool to be thrown away when broken, the people pulling the strings will see to it that the tool is destroyed (USG is a bug in search of a windshield) Deny at your own risk.

Fri, 04/16/2010 - 23:26 | 305222 trav7777
trav7777's picture

The elites cannot maintain systemic control forever.

The black swan is the next Hitler figure, someone who steps out of the ashes of "austerity" and galvanizes people to see beyond money to demand blood.

The elites cannot control oil production nor can they save themselves from the guillotine indefinitely.

The most likely outcome is the hyperinflationary blowoff.  Look who seized power during the last depression and what was his first act with regard to the currency?  And we had it relatively easy.

All across the globe, dictator figures sprang up, relatively unsullied "populists".  The Age of Debt and Growth is over; nothing can stop what's coming.  A collision between the political class and the financier class is inevitable at this point.

But, I hope the 333 case is right, because I'm eager to start shorting again.

Sat, 04/17/2010 - 00:55 | 305294 Alienated Serf
Alienated Serf's picture

I agree, and this figure will rise from the smoldering ashes of the EU.  The post WWII order is in its last days.  Transition to the new way of things is never easy.  Seems like 1933 to me...

Sat, 04/17/2010 - 03:20 | 305357 murray
murray's picture

Isn't the military the key to power?


So who controls the military?  They are funded by the fed.. with dollars that may or may not continue to have value..


what's the endgame?- dollar destruction leads to whose control over the miltary?

Sat, 04/17/2010 - 08:43 | 305447 cossack55
cossack55's picture

Lets see. Now where exactly is Ft. Knox located?

Sun, 04/18/2010 - 15:43 | 306884 Alienated Serf
Alienated Serf's picture

and we have a winner!

Fri, 04/16/2010 - 22:47 | 305175 Crime of the Century
Crime of the Century's picture

Maybe so, but the plebes need to wake the eff up. The paper promises in their 401ks will be appropriated Argentina style should those electronic digits be needed elsewhere. That's if, and a big if at that, the nominal value can be maintained via levitation tricks. Why should 401ks be protected when it is pension funds that got reamed? Better that a dumptruck back up and drop a steaming load of reality on their lawns.

Fri, 04/16/2010 - 23:29 | 305227 trav7777
trav7777's picture

I'm not ready to short with abandon until I see oil go into systemic shortage again.

The economy is driven by the availability of energy...we can rebound our production through money cheapness until we hit the overhead supply curve.  So long as there is surplus production, the status quo upward trend can be maintained.  However, I expect this time around that the Point of Recognition that this energy supply problem is not transient to be sufficiently more brutal than the last.

Fri, 04/16/2010 - 22:12 | 305130 Kina
Kina's picture

This spells a great deal of trouble for GS.

It won't go away as it is part of a convergance of the still failing economy, present Financial Reform and repressed anger of a public that has not had its blood sacrifice for this bank inflicted recession. It also is the perfect political meme for the Democrats to take to election so they will be playing it up hard.

Anybody who got directly shafted because of this stuff will be looking for their cup of blood out of GS. There will be an avalanche of civil suits.

The public will have the perfect focal point for all their repressed anger, and it might blow like a volcano. They will now have the expectation of public executions. So there can be no pulling back now.


When there is blood in the water and a lot of angry starving sharks around..




Fri, 04/16/2010 - 22:59 | 305201 RichardENixon
RichardENixon's picture

You could  be right, it could go down that way. If Obama lets his attack dogs loose on Goldman he'll be turning them on his biggest campaign contributor and God knows what else he's beholden to them for, so it remains to be seen whether they will be eviscerated by this. Of course JFK let Bobby tear into the Mafia after they helped put him in office, but then, that didn't turn out too well.

Sat, 04/17/2010 - 01:17 | 305311 Bear
Bear's picture

Will Obama even mention it in his address (or many addresses) to the Nation this week? Like the tower of courage that he is ... he will probably wait (like Iran) until he sees how the pack will go and then jump on that bandwagon.

Sat, 04/17/2010 - 10:36 | 305563 trichotil
trichotil's picture

look up executive order 1111o sometime.

ok i did it for you:

Sat, 04/17/2010 - 10:52 | 305599 RichardENixon
RichardENixon's picture

I already knew about it but thanks anyway.

Fri, 04/16/2010 - 22:14 | 305133 Kina
Kina's picture

This will be a jury trial? They will easily pencil in the missing dot.

Fri, 04/16/2010 - 22:19 | 305139 the grateful un...
the grateful unemployed's picture

ratigan was on the NBC nightly news with Brian Wms. news for dummies. he had to explain it all in about ten seconds, so BW could get to people making a difference. (read more about the death of the  MSM, news at 11)

Fri, 04/16/2010 - 22:49 | 305182 wallstreetnobody
wallstreetnobody's picture

Kudos to ZH for giving a hat-tip to Gretchen Morgenson and Louise Story of the NY Times for breaking this story last December.  It seems virtually everyone has conveniently forgot about that, including the nimrod talking heads on CNBC.  Kudos as well for pointing out the absurdity of those who instead of focusing on the bombshell story they broke last December, instead focused on their minor confusion in regards to how CDS contracts worked.  It is shocking to go back to that December article and see all of this laid out back then, including naming Fabrice Tourre and others.  

As far as the issue of how "convenient" the timing of this suit is - who really cares?  The fact is the suit has merit and they've been working on it for several months.  The battle on getting financial reform done has been front and center for several weeks now, if the SEC filed the suit any other day it would have looked just as "convenient".  And even if you want to put on your tinfoil hat and assume the SEC filed it today just so it became public during today's financial reform meeting (which is one of many that have been going on) - who really cares?  Unless you honestly believe the suit has no merit and that Goldman has not done anything wrong, the fact that it was filed today instead of a week ago or next week is meaningless.  The focus should be on Goldman and their crimes, everything else is just noise that Goldman would love for people to focus on instead.

Fri, 04/16/2010 - 23:13 | 305213 SayTabserb
SayTabserb's picture

Hear, hear, and well said. We need to take yes for an answer here. Having awakened from a deep vegetative state during the Madoff affair, the SEC has come back to life and put their ace tiger on the case.  This is good news, not bad, and the facts developed here could embolden Cuomo to finish them off. It's doubtful this was the only conflict/misrep by Goldman re subprime. Just the most egregious discovered so far. Throw some vampire calamari on the barbie!

Sat, 04/17/2010 - 01:13 | 305307 Bear
Bear's picture

GS must have skipped their last month's payment ... 

Fri, 04/16/2010 - 22:50 | 305183 Reese Bobby
Reese Bobby's picture

Let them EAT CAKE!!!

Lloyd Blankfein

(Why are we in line with the $250 doners!)

Fri, 04/16/2010 - 23:00 | 305198 Arthur
Arthur's picture


Fri, 04/16/2010 - 22:59 | 305200 Arthur
Arthur's picture

We will now soon know whether GS was working with the Feds to prop up the market.  Who is going to preform all those "hockey" stick saves we have come to know and love.

Not all the state AG's can be bought and the states need the money, I doubt GS can chase this matter away or buy out of it quickly.  GS may not die but it will bleed for a long time.    GS is like Hydra, it will be almost impossible to kill.

The lawsuit does explain why some top GS traders jumped ship recently....Like smart little rats.

Sat, 04/17/2010 - 00:44 | 305284 Goldfinger
Goldfinger's picture

Is this another hidden bailout/welfare? fed->gs->states. Nobody is  going to protest this bailout.

Sat, 04/17/2010 - 07:35 | 305416 Crime of the Century
Crime of the Century's picture

Who is going to preform all those "hockey" stick saves

Jamie - at least until he runs into a little silver problem...

Sat, 04/17/2010 - 00:22 | 305271 rich_maverick
rich_maverick's picture

Unfortunately, GS will likely get their high frequency trading machine, along with their other tools to take down the markets along with themselves.  Basically, it's one of those "if I go down, I'm taking everyone else down with me".  This evil vampire squid should be killed.  But, people need to be prepared to face the fact that Goldman is still very powerful and can by themselves make everyone else suffer. 

Sat, 04/17/2010 - 01:08 | 305303 Bear
Bear's picture

The DC connection is too great for anything to happen ... Unless Obama shed's Tim and he spills his guts in a tell all book ... but then he couldn't do it without implicating himself ... if he goes it on his own, his life will be in danger

Sat, 04/17/2010 - 07:38 | 305418 Crime of the Century
Crime of the Century's picture

The burning house of bullshit will include a body count...

Sat, 04/17/2010 - 00:46 | 305288 nowhereman
nowhereman's picture

Ok, but now something I wish was completely different;

So, do you thinks the Fed was involved?

Sat, 04/17/2010 - 01:00 | 305298 hungrydweller
hungrydweller's picture

GOLD!  Now you know why Paulson has a large stake in GLD and likely has a large futures position to make a physical delivery demand.  This scam is so huge that the US economy is honestly at risk.  Paulson has hedged himself with gold and I believe he plans to eventually make a demand for physical delivery knowing full well that bullion banks cannot make delivery thereby driving up the paper market price.  Paulson may be prosecuted but he will make money in the end no matter what.  Gold is perfect since it has nothing to do with Abacus but will provide the ultimate hedge against the failing US dollar and US economy.

Sat, 04/17/2010 - 06:55 | 305403 Treason Season
Treason Season's picture


Sat, 04/17/2010 - 07:44 | 305421 Crime of the Century
Crime of the Century's picture

-1  As with the Hunts, when you are in the crosshairs rules can be created or changed. Paulson is complicit dirty, and in the spirit of RICO could have all inconvenient assets treated as tainted. My guess is he lays low and expresses remorse.

Sat, 04/17/2010 - 01:32 | 305320 Al Gorerhythm
Al Gorerhythm's picture

$1.6 quadrillion. Wait till they get to the gold and silver derivatives. 

Sat, 04/17/2010 - 01:34 | 305322 Moneygrove
Moneygrove's picture

If I break federal law I go to jail ,but if goldman or massey coal does it the gop backs them up and its ok !!!!!!!!!!!!!!!!

Sat, 04/17/2010 - 08:47 | 305448 cossack55
cossack55's picture

Yeah. So? What else is new and whats your problem with the status quo.  Vote Bush/Cheney and permanent war for permnaent peace.

Sun, 04/18/2010 - 00:48 | 306385 Moneygrove
Moneygrove's picture

My problem is I don`t like fake wars with no bid contracts !!!!!!!!!!! p.s. bush/cheney and MCcain did the bailout not Obama !!!!!!!!!!!!! read mr. Hanky paulsons book and read what he says about MCcain !!!!!!!!!!!!!!!

Sat, 04/17/2010 - 02:11 | 305343 Rick64
Rick64's picture

Beautiful, Ratigan lays it all out. The whole dirty scenario. How is he still on t.v.? Makes me want to start watching t.v. again.

Sat, 04/17/2010 - 02:22 | 305344 Kina
Sat, 04/17/2010 - 02:36 | 305347 chumbawamba
chumbawamba's picture

This is so stupid.

Dylan, just fucking stick to a narrative.  Are you trying to be the Glenn Beck of MSNBC?

I am Chumbawamba.

Sat, 04/17/2010 - 02:39 | 305349 Rick64
Rick64's picture

The public is stupid and needs to be shown this like its sesame street. The public has to be entertained too.

Sat, 04/17/2010 - 15:54 | 305928 Otrader
Otrader's picture

Personally, I think he did a great job explaining it.  I've forwarded this link to the video to all friends and family.  People really need to wake up what's going on.

Check out this email that was sent from Fabrice Tourre to Abacus:


Fabrice Tourre, the Goldman executive who helped set up Abacus, emailed a friend in January 2007:

“More and more leverage in the system, The whole building is about to collapse anytime now…Only potential survivor, the fabulous Fab…standing in the middle of all these complex, highly leveraged, exotic trades he created without necessarily understanding all of the implications of those monstruosities!!!”

Full story and slide show on the Goldman Suit:

Sat, 04/17/2010 - 09:23 | 305462 I am a Man I am...
I am a Man I am Forty's picture

This is not stupid.  He is putting it in layman's terms to wake up the masses.  Once you say CDO, 90% of the population's eyes glaze over.

Sat, 04/17/2010 - 11:09 | 305624 chumbawamba
chumbawamba's picture

Point taken by both of you but if I was ignorant of this subject and he tried to explain it to me that way I'd still think he was trying to be the Glenn Beck of MSNBC and would turn it off.  If I had cable.  If I watched TV.

I am Chumbawamba.

Sat, 04/17/2010 - 14:23 | 305846 verum quod lies
verum quod lies's picture

He has become the Glenn Beck of MSNBC.

I am not Cumbawwamba.

Sat, 04/17/2010 - 12:56 | 305742 hamurobby
hamurobby's picture

Layman thoughts... he just broke a Furarree! What was he talking about again? My sister crashed a car once, and got paid twice, once by her insurance company and then by the county for putting a road there. No wonder gold is down today, Gold man sacks is going to jail! wait, wheel of fortune is on! 

Ron Paul has to talk like he is a pediatrician too.

Sat, 04/17/2010 - 02:39 | 305350 williambanzai7
Sat, 04/17/2010 - 03:19 | 305355 weelp
weelp's picture

It's about time. Props to ZeroHedge. ZH makes Wall Street look like kindergartners. 

Sat, 04/17/2010 - 08:43 | 305446 Alexandra Hamilton
Alexandra Hamilton's picture

The story broke yesterday evening (EU-time) and they have a complete story on the the guy supposedly being the culprit in their paper on a few hours later.

It says: Published: 11:41PM BST 16 Apr 2010.

Really quick.



Sat, 04/17/2010 - 10:34 | 305561 LongShortSally
LongShortSally's picture

Isn't anyone watching over these infantile wannabe masters of the universe?  Has the world's financial system been at the mercy of these wreckless hot rodders?

"... a year and six days after Tourre wrote his original prescient email, and ten days after his 29th birthday – 99pc of the portfolio had been downgraded, leading investors to lose more than $1bn, and Goldman – and Tourre’s – reputation to be left open to question."






Sat, 04/17/2010 - 07:36 | 305417 dcb
dcb's picture

1) for the record (while not specifics) i have for over a year told about the easy conflict between making up the securities, pumping up the garbage on your own prop desk, and then on some cds trade that is hidden behind closed doors shorting it. way to easy to abuse.

2william black and tavakoli have talked fraud a long time.

3if they eally wanted to they can go after anyone who put stuff together with crap that didn't mean internal controls (citi). all these banks engaged in fraud with this stuff. it was the entire pipeline.

from the guy who lied about his income, to the broker, to the bank that got the loan, to wall street who put the bond together. including the federal reserveand regulatory agrencies which were criminial in their neglect.

this episode isn't just about wall street. read tthe truth report out of the iceland crisis. tis was a complete failure of the entire system and "capitialism" the way in has been structured in the anglo saxon model

the fed/ governm

Sat, 04/17/2010 - 13:43 | 305796 Gimp
Gimp's picture

Dylan's accident will be more like:

"He was found  shot in the back of the head, while skiing downhill, hit a tree and was accidentally run over by a car".

Detectives have closed the case saying he died of natural causes.

Sat, 04/17/2010 - 14:35 | 305855 Rick64
Rick64's picture

The whole financial collapse looks like it was orchestrated by some key players. Power and money consolidation, but I think it goes well beyond this. Tip of the iceberg.

Unbelievably this will probably be attributed to a few rogue traders.

Sat, 04/17/2010 - 19:11 | 306074 FrankIvy
FrankIvy's picture

Blumenthal=miserable attention whore.

He has too much ambition.  He'll threaten to sue over anything that will get his name in the news.

Oh gaaawd.  I just looked it up and he's running for senate.  He'll probably win.  As bad as Dodd was, this ass will be worse.


As an example, under his guidance CT sued the ACC for taking BC and Miami.  The eventual "secret" agreement paid CT 1 million.  Blumenthal, lying whore scum, assured CT taxpayers that their interests in CT football had been protected.  But the suit cost CT at least 2 million, and probably more.

Attention whore, lying, deceitful scum.  Get him in there with Lieberman, another with the lying scum (who wants to make questioning the official 911 story a crime), and you've got the ultimate dynamic duo of scum floating back and forth between CT and DC.

Sun, 04/18/2010 - 00:52 | 306389 Moneygrove
Moneygrove's picture

Blumenthal has my vote !!!!!!!!! I am not voting for the Roid dealer !!!!!!!!!!!

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