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Sanford's Brad Hintz Explains Why There Will Never Be Any Justice In America

Tyler Durden's picture




 

From a note just released by Sanford C. Bernstein & Co. Brad Hintz:

"Goldman Sachs wont face criminal precaution related to sales of mortgage linked securities because such a move could threaten the US financial system."

Really, that's all you need to know.

 

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Wed, 06/01/2011 - 10:51 | 1328572 Mongo
Mongo's picture

Ouch

Wed, 06/01/2011 - 11:11 | 1328710 Henry Chinaski
Henry Chinaski's picture

The financial system will collapse anyway.  In other news...

I have been thinking about how POTUS might be reelected.

Those who are paying attention are aware of the following:

  1. The economic system has not been fixed and the real correction is yet to come.
  2. The banksters who caused the most damage have not been proscecuted for their crimes, in fact they have continued to profit from them.
  3. Most people are not paying attention.

A potental part of the relection strategy could involve something like the following:

  1. The postponed economic crash hits in late 2011 (no QE3), just as the presidential elections come into focus for the average voter.
  2. POTUS identifiest the banksters as the culprits and prosecutes prominent Wall St execs, complete with big media perp walks, gory opulent lifestyle details, tv trials, big fines, etc. 
  3. POTUS gets credit for cleaning up Wall Street and looking out for the little guy. 
  4. Little guy relects POTUS.

The following recent media items prompted this idea that the groundwork is being laid:

http://www.rollingstone.com/politics/news/the-people-vs-goldman-sachs-20...

http://www.imdb.com/title/tt1645089/

Wed, 06/01/2011 - 11:26 | 1328837 MisterAmbassador
MisterAmbassador's picture

Ha.  You still think there will be elections in 2012.  FDR could have seized dictatorial powers easily.  Obama will if everything collapses.  The framework is already in place.

Wed, 06/01/2011 - 11:32 | 1328879 trav7777
trav7777's picture

Obama is a homo with so many skeletons in his closet that he could start his own graveyard.

Someone who is going to "turn" will have to be less compromised.  And have the spine for it.  Bambi has been an AA baby his entire life; he's not looking for conflict or to stand for anything.  He's looking to be put on a pedestal.

Wed, 06/01/2011 - 11:50 | 1328972 mayhem_korner
mayhem_korner's picture

Never let a good crisis go to waste...

Whaddaya think about throwing Biden under the bus to make room for Rahm as Veep?  (speaking of Biden, it occurs to me that plagiarism is such a lesser crime these days...)

Wed, 06/01/2011 - 12:02 | 1329035 davepowers
davepowers's picture

yeah, can you imagine that there was once a day when mere plagiarism matter?

Wed, 06/01/2011 - 11:57 | 1329026 f16hoser
f16hoser's picture

Makes sense. However, Americans love Big Lies and Half Truths. Obama will get reelected on that. No problem. Now, if people are starving around election time than things could be different. I don't see that though since food stamps are on the rise and JPM profits handsomely off food stamps so this will continue. I suspect, some ugly smelly TSA agent will tell me how to vote in the next election. I was gonna move to Texas but apparently their state govt. has been Captured by the FED's. Oh well..... 

Wed, 06/01/2011 - 12:51 | 1329272 SeanJKerrigan
SeanJKerrigan's picture

What happens if JPM falls apart / goes to hell?  What happens to food stamp distribution?  I guess by that point, it doesn't really matter since in order for JPM to go out of business we'd already be in an apocolypse scenario.

Wed, 06/01/2011 - 14:01 | 1329588 sgt_doom
sgt_doom's picture

Please read below, SeanJKerrigan, as the above poster got it right with JPMC.  And all roads to Goldman always seem to lead back to the Pentagon......now, go figure?

The Great Conspiracy

After Louis Brandeis’ wrote the brilliant Other People’s Money and How the Bankers Use It, paving the way for the eventual legislation known as the New Deal, the power elites focused on a concentrated effort to hide and obscure their wealth and ownership through an ever-expanding network of holding companies, foundations, trusts, and evolving with the addition of offshore finance centers and tax havens in the 1960s.

We have been exposed to countless low-ball estimates of the trillion dollars or so hidden offshore, and various low-ball estimates of monies lost to infinite tax avoidance and tax evasion schemes but really, nobody knows the accurate numbers.

And why is that?  Because they’ve structured it to be legal to hide ownership and wealth, and illegal to uncover that ownership.

This was by design, it didn’t “just happen” – it wasn’t the result of “unintended consequences.”

And, with the establishment of their financial-intelligence-complex during World War II, i.e., the creation of the intelligence framework, ostensibly for national security purposes, but having nothing to do with such, instead for wealth acquisition and control through financial and global intelligence interception and manipulation, they greatly facilitated their goals.

Those parties involved with this, of course, were members of the Rockefeller family, Averell Harriman, the Mellon family, Robert Lovett, the Dulles brothers, Richard Bissell (whose brilliance and achievements are still relatively unknown) and Frank Wisner, Sr.

The end result has been wildly successful!

Today, almost no American alive knows the ownership of anything!

One is reminded of the article by a “business journalist” at the Arizona Business Journal some years back who erroneously reported an obscure REIT had purchased the then largest private equity firm in the world, the Blackstone Group.  (The reverse, of course, had taken place; the Blackstone Group had purchased the REIT.)

Similarly, a few years back, the Puget Sound Business Journal listed a small company (4 employees) as the largest employer in Washington state!  Evidently the lack of fact verification not only exists at the Washington Post and the New York Times, but equally among the “business journalists” – truly a shocker.

No wonder those business journals fail to mention that the world’s largest hedge funds are owned by the top banks.  Now why is that shrouded in mystery?

The standard reply to who owns this bank, or that oil company, or this pharmaceutical corporation, is always the same:  the shareholders, or occasionally, it is a “privately held corporation.”

Who owns JP Morgan Chase?  Morgan Stanley?  Goldman Sachs?  ExxonMobil?  BP?  Bank of America?  Citigroup?

Of equal importance, who really are the richest families in North America?  These questions are not only crucial but highly interrelated.

Yes, there is that Forbes list of the richest, researched from public information sources, but of relatively little value when so much of the wealth and ownership is hidden!

Let us start with Bank of America.  From an examination of public information sources, one finds that a number of other banks and hedge funds constitute the majority of shareholders of B of A.  Of course, a number of other banks and institutions are the majority shareholders of each of those individual banks who make up the majority shareholders of Bank of America:  a never ending ownership puzzle!

And who owns BP?  The largest shareholder of record is Blackrock, supposedly the largest asset management firm (hedge fund) around.  And the largest chunk of Blackrock is owned by Merrill Lynch, who in turn is owned by Bank of America.

Blackrock is also the majority shareholder of Monsanto.  So now we have BP and Monsanto tracking back to Bank of America, whose ownership no one is really certain of?

We are certain that NationsBank Corporation bought out Bank of America some years back, after Bank of America had given an unsecured $1.4 billion loan to the hedge fund, D.E. Shaw, for Russian bonds which then defaulted and D.E. Shaw was unable to repay Bank of America, leaving B of A highly vulnerable for the takeover by NationsBank Corporation, which then took on the name of Bank of America after the buyout.

We also know that Larry Summers, Jeffrey Sachs and friends, were advising the Russians during this period, and that years later, while Larry Summers was an advisor to Obama during the presidential campaign, D.E. Shaw paid Summers substantial fees for his financial advice.

A peculiar choice, given that Russian bond default?  One wonders who is behind D.E. Shaw?

External analysis, utilizing pattern analysis and link analysis algorithms, indicates that the three richest fortunes in North America are the Rockefeller, Morgan and Mellon families, yet this differs completely with the popular story today.

Examination of empirical data further indicates that the majority ownership of JP Morgan Chase is divided among the Rockefeller family and Morgan family (try and find out who the Morgan family is today!), while majority ownership of Morgan Stanley falls to the Morgan family, Citigroup’s ownership falls to the Rockefeller family.  (Yes, we realize a Saudi sheik is the largest shareholder on record of Citigroup stock.)

The ownership of Bank of America appears to be Mellon money, but this is only extrapolated conjecture and hasn’t yet been verified.

Further examination indicates that the top banks, oil companies, pharmaceuticals and weapons makers (defense contractors) are owned by the same concentrated senior capital pools.

And yet, this is opposite to the popular mythology that fabulous fortunes are dissipated, handed over to foundations to be doled out to the ungrateful masses.

A convenient mythology which ignores those taxes evaded by hiding wealth in those foundations which also conveniently hides the ownership of the banks, oil companies, pharmaceutical corporations and weapons makers through the blocks of stocks and bonds controlled within these foundations.

With over 50,000 foundations in North America, controlling billions and trillions of wealth, it is a wonder we don’t live in a modern day paradise?

So who owns ExxonMobil, Goldman Sachs and the others?

The time, effort and resources to track down the ownership today are stupendous, but one hopes those questions are eventually answered.

And then, perhaps, we shall find out who really owns America?

Wed, 06/01/2011 - 17:26 | 1330419 Bartanist
Bartanist's picture

Dangerous questions to ask and even more dangerous to let it be known that you know the answers.

If one looks closely at the balance sheets of many of the largest companies, one can see that the common shareholders actually own nothing and everything is owned by the debt holders.

Balance sheets have been scavenged over the years as cronies and family have dominated boards and systematically created both an income stream and made common stock ownership simply betting chips on the crooked wheel that the families run to suck away your money.

Your observation of the interrelatedness of the banks speaks to the way that "finance happens". If I create money as debt and loan it to you then you use it to buy equity, I have been financed. It is how the Federal Reserve Bank became owned by the families. They US government was the only entity that put money in. The Fed then loaned money to the banks/families who then invested in the Fed.

I do not know if historically these families have been killed off over time or they are the same bloodlines reaching from ancient past... an interesting thing to research.

Fri, 06/03/2011 - 07:10 | 1335087 Urban Redneck
Urban Redneck's picture

 

You are searching for T(t)he Ghost in the Machine.  The actual answers to the question are relatively well known, both at the indvidual and corporate level, just not to readers of the trite tripe that is the Forbes 400.  If you want names, then seek a job with the Department of the Treasury.  If you want to understand the banking system and the Federal Reserve, then read up on keiretsu

 

 

Wed, 06/01/2011 - 11:12 | 1328743 bonddude
bonddude's picture

Too

Big

To

Prosecute

I'm gonna learn Russian.

Wed, 06/01/2011 - 11:24 | 1328809 President Palin
President Palin's picture

I'm gonna learn Russian.

 

I think Mandarin might be the better option.

Wed, 06/01/2011 - 11:34 | 1328868 bonddude
bonddude's picture

Only if you plan on staying.

Wed, 06/01/2011 - 11:35 | 1328877 Frankie Carbone
Frankie Carbone's picture

+1984!

Wed, 06/01/2011 - 12:04 | 1329072 IEVI
IEVI's picture

I think Palin would be a perfect choice for the TPTB..then we can make the full transition to Idiocracy.

http://www.youtube.com/watch?v=y0O7_3o3BrI

Wed, 06/01/2011 - 11:22 | 1328819 Cognitive Dissonance
Cognitive Dissonance's picture

It became a widely recognized national security issue back in 1997 and it has been gaining speed since then. In 2006 they even admitted they could legally cook the corporate books and waive the SEC rules.

http://www.businessweek.com/bwdaily/dnflash/may2006/nf20060523_2210.htm?campaign_id=rss_daily

Intelligence Czar Can Waive SEC Rules

 

Now, the White House's top spymaster can cite national security to exempt businesses from reporting requirements.

 

President George W. Bush has bestowed on his intelligence czar, John Negroponte, broad authority, in the name of national security, to excuse publicly traded companies from their usual accounting and securities-disclosure obligations. Notice of the development came in a brief entry in the Federal Register, dated May 5, 2006, that was opaque to the untrained eye.

 

Great essay by Tom Engelhardt on post-legal America.

http://www.tomdispatch.com/post/175398/tomgram:_engelhardt,_welcome_to_post-legal_america/

Wed, 06/01/2011 - 10:54 | 1328588 TruthInSunshine
TruthInSunshine's picture

I think 'precaution' was intended to read 'prosecution,' unless we're at stage 'PreCrime' (reference 'Minority Report'), in which case Goldman has been guilty on every level and of every type all along.

Release the precogs.

Wed, 06/01/2011 - 11:16 | 1328748 bonddude
bonddude's picture

RRRRRUUUUUUUUUUUUUUNNNNN !!!

Wed, 06/01/2011 - 10:50 | 1328589 The Deacon
The Deacon's picture

It's all just so, complicated.  Too complex and labour-intensive to fix.  Can't we just move on?

Wed, 06/01/2011 - 10:53 | 1328590 snowball777
snowball777's picture

Vigilantes, on the other hand, are much less concerned with the fate of the US financial clusterfuck.

Wed, 06/01/2011 - 11:30 | 1328751 GoinFawr
GoinFawr's picture

subtle, and very inciteful.

Wed, 06/01/2011 - 11:28 | 1328830 chinaguy
chinaguy's picture

And not the "bond" kind of vigilantes either...so few could do so much good....with apologies to Marla........

Wed, 06/01/2011 - 10:53 | 1328591 Nicholaz
Nicholaz's picture

No we just need someone to explain why Brad Hintz is clueless.

Wed, 06/01/2011 - 11:08 | 1328709 oogs66
oogs66's picture

It is a sad state of affairs when the best financial writing can be found in Rolling Stone and Vanity Fair.

Wed, 06/01/2011 - 11:17 | 1328757 bonddude
bonddude's picture

Word !

Wed, 06/01/2011 - 11:46 | 1328971 Nicholaz
Nicholaz's picture

You have a point there ... +1

Wed, 06/01/2011 - 10:50 | 1328594 GoinFawr
Wed, 06/01/2011 - 10:54 | 1328596 SparkyvonBellagio
SparkyvonBellagio's picture

Take them down and we'll deal with the pain.

That is what is wrong with America today, no one wants to take any 'pain' downside for the better good later on.

 

What a bunch of F'n Pusssss- wait, lets call them .... CATS!

 

 

Seriously, accept some downside for a Purer better form of Life in a few years/decade or so. 

 

 

 

Wed, 06/01/2011 - 10:53 | 1328611 topcallingtroll
topcallingtroll's picture

I agree, but we are in the minority.

Wed, 06/01/2011 - 11:00 | 1328656 downrodeo
downrodeo's picture

...for now

Wed, 06/01/2011 - 11:25 | 1328829 MachoMan
MachoMan's picture

for always...  So long as humans endure the human condition, the allure of sponging off the rest of society vastly outweighs the desire to be productive.  It's just that sometimes a productive minority decides to call a spade a spade, and that's all it takes...

Wed, 06/01/2011 - 11:53 | 1329007 DaveyJones
DaveyJones's picture

you said it. Get off the sofa and attack the lufa 

Wed, 06/01/2011 - 10:55 | 1328604 Central Wanker
Central Wanker's picture

Surprised?

Anyone?

Wed, 06/01/2011 - 10:52 | 1328606 topcallingtroll
topcallingtroll's picture

no

Wed, 06/01/2011 - 11:05 | 1328692 hedgeless_horseman
hedgeless_horseman's picture

...There Will Never Be Any Justice In America.

So I want you to be totally honest with me how this makes you feel.

http://www.youtube.com/watch?v=BbgyppGqBgg

Wed, 06/01/2011 - 11:04 | 1328684 tonyw
tonyw's picture

i'm surprised anyone still thinks there is real justice.

 

Wed, 06/01/2011 - 10:53 | 1328612 alien-IQ
alien-IQ's picture

when the survival of one company is more important that the rule of law, you know you live in a society and nation that is no longer worth defending.

Wed, 06/01/2011 - 11:07 | 1328704 flattrader
flattrader's picture

Recently (within the past year and a half) some young men have discussed enlisting with me.  Even the scaled back VA benefits seem worthy of consideration in these tough economic times.

My advice has been "Don't be their bitch" followed by a lengthy economic explanation of how we got "here"--and then backed-up by news stories regarding the abysmal treatment of wounded vets.

They haven't gone anywhere.

 

Wed, 06/01/2011 - 11:46 | 1328954 FWM
FWM's picture

Good for you.  You did them a huge favor.

Unfortunately, in small towns around this once great country, eventually the only options available to poor white boys will be to join the military.

Mike

Wed, 06/01/2011 - 10:53 | 1328613 somethingelse
somethingelse's picture

GS = Too Big To Jail?

Wed, 06/01/2011 - 13:12 | 1329381 mattwett12
mattwett12's picture

LOL

Wed, 06/01/2011 - 10:57 | 1328615 svendthrift
svendthrift's picture

It's almost as if there is a conspiracy.

Wed, 06/01/2011 - 10:57 | 1328618 You Lie
You Lie's picture

Do they mean prosecution (not precaution)?

Wed, 06/01/2011 - 10:54 | 1328619 LRC Fan
LRC Fan's picture

This should help us in the quest to close green today. 

Wed, 06/01/2011 - 10:55 | 1328625 Clampit
Clampit's picture

Still not the root cause; it's the financial system than enables our political system; that's the significant entity under attack.

Wed, 06/01/2011 - 10:59 | 1328628 Gimp
Gimp's picture

Its the old "national security" defense Chief...better bring down the dome.

Wed, 06/01/2011 - 11:32 | 1328882 Clampit
Wed, 06/01/2011 - 10:56 | 1328630 Silver Dreamer
Silver Dreamer's picture

When will We the People wake up and realize Lady Justice is a bankster puppet?

Wed, 06/01/2011 - 11:02 | 1328646 alien-IQ
alien-IQ's picture

welcome to the Strumpetocracy.

Wed, 06/01/2011 - 11:13 | 1328724 anony
anony's picture

The statue of Lady Justice and her scales is a marketing ploy.

We don't really have a justice system.'

What we do have is a system of Laws, which are applied only to a select group of targets, depending on who holds the reins to power.

Those who hold the reins, primarily the Defense and Finance industries, don't have to  be concerned about Laws and for sure, not justice applying to them.

They are exempt.

Wed, 06/01/2011 - 11:21 | 1328807 Silver Dreamer
Silver Dreamer's picture

Exactly.  They have their hands up her ass, so the scales are meaningless.

Wed, 06/01/2011 - 12:05 | 1328902 MachoMan
MachoMan's picture

Sort of.  I would posit the more accurate depiction of our current state of legal affairs is that the system is that the wealthy are simply more apt (not necessarily more able) to utilize professionals to exploit the system.  This creates the appearance of two sets of laws, but in reality there is only one set of incredibly poorly drafted laws on the books. 

Now, we must certainly acknowledge the lack of enforcement of particular crimes, but I think this goes back more towards the first point, given prosecutors do not like to dive into the world of finance (that they know not a damn thing about) without having a roadmap, trail of breadcrumbs, and an army behind them.  It isn't that only the big fish get away, it's that most everyone gets away...  this is the simple reason (lawyers know dick about finance and don't want to look like assholes bumbling through cases; the lawyers that do have intricate financial wherewithal have much brighter prospects in private practice).

Wed, 06/01/2011 - 10:57 | 1328632 firstdivision
firstdivision's picture

So if you want to be able to do anything, start your own bank, and then laws do not apply to you.

Wed, 06/01/2011 - 11:10 | 1328697 anony
anony's picture

Sorry that trick only works for the likes of Goldman Sucks' alumni, present and future.

Ask Ken Lewis, Dick Fuld. 

Franklin Raines, along with James Johnson at F/Mac  have taken out billions with their deals.

Only the well-connected who have bought and paid for theBernank, Hank Paulson, and Timmay are bailed out and made even more well off.

 

Wed, 06/01/2011 - 11:00 | 1328637 Bazooka
Bazooka's picture

Once the second financial collapse happens or during it's descent to S&P400, the public and politicians will have outright contempt for these Bankers and demand accountability.

So, it may not happen before, but certain during or after the next collapse, these bankers will be put in prison.

Social mood turning negative and outrage always looks for ones to blame and these bankers have the bulls eye target on their foreheads.

Wed, 06/01/2011 - 11:03 | 1328657 Silver Dreamer
Silver Dreamer's picture

I wouldn't hold my breath.  History proves otherwise.

Wed, 06/01/2011 - 11:06 | 1328677 anony
anony's picture

You're smoking too much of theBamster's hopium.

 

No chance in hell will the perps ever walk the walk.  They are Royalty, unbound by the laws, rules and regulations of mere mortal men.

They own the kingdom.

 

Wed, 06/01/2011 - 11:09 | 1328717 oogs66
oogs66's picture

and they have all the good tickets to all the good sporting events...can't forget that...

Wed, 06/01/2011 - 11:10 | 1328729 Clampit
Clampit's picture

Deficit addicted politicians will do everything they can to save our central bank, aka the system. Ever wonder why China was so quick to adopt "capitalism" after Tienenman Square? Give me control of a nations currency ...

Most here have probably seen it, but this symbiosis is well understood.

Wed, 06/01/2011 - 10:58 | 1328640 Downtoolong
Downtoolong's picture

Hostage capitalism at it's finest, or worst, depending on how you look at it.

Wed, 06/01/2011 - 11:02 | 1328650 Doode
Doode's picture

Some folks confuse smarts with cheating. His alma mater Lemon Brothers (mine too) - went under for doing stoopid things and GS did not so now he is trying to call folks that continously outsmart everyone else on the street for decades as cheaters. Nice try, but please try something else.

Wed, 06/01/2011 - 11:01 | 1328667 anony
anony's picture

No one outsmarts the market for decades.

No one.

Without the bailouts that Lord Blankfein and his minions were given by Hank Paulson, they would be Lemon Brothers today.

How much do they pay you for your lies?

Wed, 06/01/2011 - 11:16 | 1328741 Doode
Doode's picture

You are obviously new to the markets (or read too much of yahoo finance) - there are plenty of people that beat the markets nearly or all the time. In fact most i-banks did that for hundreds of years till this crisis. Look at Buffett, Booth's Dimensional, and dozens others. GS did not do anything that other banks did not want to do, but thanks to Fuld's dictatorial dicision to stick with crappy mortgages instead of unloading them as his FID head told him in 2006-2007 Lemon would still be Lehman today (Fuld thought it was 1998 crisis all over again so the firm would survive just by sitting tight). GS partnership structure and hiring the smartest folks they can paid off well. GS is simply smart about risks and is very disciplined about it. Every bank takes the opposite side of trades their clients take - it is just most of the time clients are not a bunch of stupid ignorant sheeple as they turned out to be in this crisis.

PS. Had offers to work for GS, but never went there.

Wed, 06/01/2011 - 11:25 | 1328811 GoinFawr
GoinFawr's picture

Well that private fluffing company they sub'd to PR them is getting every penny's worth from you.

Wed, 06/01/2011 - 11:31 | 1328832 Doode
Doode's picture

Lol, no affiliation - just want to point out judgmental errors some very smart folks put out there occasionally. Basically, the post implies that if someone is making too much money they much be cheating. You can see how this could be a problem - essentially that sounds like Obama saying "I think at some point folks made enough money". If you think they broke the law I would say someone would come out over the decades and say something. Too many people have to be on it - from front office, middle office and to back office. SEC and FINRA had to miss it for close to 100 years now or so? All those folks that came out from that company would have whispered something over the years as well - yet you can only hear people complaining about GS who never worked for the firm because frankly they were either scorned or jealous. Show some evidence first then we can talk about it.

Wed, 06/01/2011 - 12:02 | 1329031 Clampit
Clampit's picture

OK, any discussion of fair play is entirely nullified under a central bank. Especially when a [growing?] list of 20 parties get special access. Did you really mention there would have to be some ~100 year conspiracy?

Wed, 06/01/2011 - 12:13 | 1329114 Clampit
Clampit's picture

I'll save my tenacious follower the trouble of silently junking yet another post. Some of political comments maybe, but junking Control's COS - what did mommy set you in corner and feed you with a sling shot?

Wed, 06/01/2011 - 12:03 | 1329040 GoinFawr
GoinFawr's picture

'Show me the evidence', 'sour grapes', 'outsmarted everyone for 100 years', 'the wrong side of the trade was just dumb, not intentionally deceived'; right, I think you've managed to cover all the rote.

Where you been?

Wed, 06/01/2011 - 12:45 | 1329136 Doode
Doode's picture

This is a standard practice for all banks all the time - as I said in the earlier comment usually sophisticated investors are just that - sophisticated. This time around they were mostly idiots - so what do you want banks to do? Not trade - when you are a market maker you make markets in good and bad times. This time they got it really right and sold those securities to anyone who was willing to buy. Rating agencies (also crappy businesses, but not GS affiliated) stamped AAA onto those tranches. It is business as usual - just this time around clients got screwed when the bubble burst instead of making 8% on investment for 30 years as advertized. If you check bond markets - there were in a bubble for the last 30 years - no one is complaining about that.

That video was a staggering display of populism without any substance. I watched all of them on CNBC in real time and found them to be fairly baseless. If GS did something wrong from what I have heard during those hearings then you need to close all of the Wall St. because everyone does what they did for the last 1000 years - it is called trading.

Do you have any shred of eveidence that GS or Paulsen did anything wrong that is inconsistent with the way business has been done on Wall St since the beginning?

Wed, 06/01/2011 - 13:01 | 1329270 GoinFawr
GoinFawr's picture

No, it's called fraud/sociopathic collusion and it's been illegal for the last 1000 years; well, for the second and third estates anyway. Here's the distinction:
Bernie Madoff ripped off the wealthy and famous and so went to jail. The middle class are being financially decimated by an elitist miniority that has captured gov'ts worldwide, so nobody, aside from the odd patsy, is going to be frog-marched in orange jumpsuits (mb if we got some that were tailored in England?).

"Rating agencies (also crappy businesses, but not GS affiliated) stamped AAA onto those tranches" Oh goodness gracious, no, not 'affiliated' at all; merely 'paid by'; definitely no conflict of interest to see there (sarc).

If you need li'l ol' me to provide you with evidence of these things you are either not looking very hard, are wilfully ignorant, or outright complicit.

Wed, 06/01/2011 - 13:05 | 1329335 Doode
Doode's picture

Glad you run out of arguments and blame the system. This argument has started over Goldman's individual responsibility. If it was all the system then how come many have failed, while some had not (JP, Wachovia, etc)? Did Lemon and Bee(a)r not pay their insider's membership fee that month so they got left out from the secret meetings? :) When you can answer that then you will know that within the system (good or bad) GS is the best, which is why they realized when the system has failed and went against it, while the rest of the banks did not. Which was my initial point. I never said that the overall system was fair - just that you cannot single out GS for their profits. Within the system they operated correctly.

Now, that is why there are regulations coming out so that certain practices - like using checking account balances to lever up 1 to 30 to buy speculative things hoping if anything goes wrong Fed will bail them out practice is no longer acceptable. But it is not applicable to GS actually - or even Lemon for that matter.

As Will Smith said - do not hate the player, hate the game!

Wed, 06/01/2011 - 13:16 | 1329400 GoinFawr
GoinFawr's picture

Are you for real Mr.
"I don't care if the world is unfair as long it is unfair in my favour" ?

GS IS the system now, which was my point; so sorry if it is confusing for you.

And my comment on the ratings agencies was specifically related to GS' culpability; thanks for bringing it up.

Wed, 06/01/2011 - 13:23 | 1329422 Doode
Doode's picture

While flattering to GS your argument is very far from reality and does not hold water. There are way too many other players still standing to make GS a system.

PS. gotta get back to work - cannot spend more time on this. Been fun!

Wed, 06/01/2011 - 13:56 | 1329444 GoinFawr
GoinFawr's picture

Still avoiding the ratings agencies lynchpin I see. `Flattering`? Hardly. I`ll leave the fawning and obsequious toadying to the pro`s...

you`re up:

Wed, 06/01/2011 - 16:40 | 1330250 Doode
Doode's picture

If the statement said Wall St. investigation will not happen that would be understandable because Bernie Franks will end up testifying about his lack of oversight and "rolling the dice" on subprime along with the rest of the government involvement into the mess. Rating agencies and GS are but a static players in a much larger game played by the FED and the government here. Do not think of conspiracy, but def. incompetence galore.

Thu, 06/02/2011 - 10:21 | 1332151 GoinFawr
GoinFawr's picture

More like both, and with a generous helping of self-interest stirred into a sociopathically indifferent stock; makes for a thoroughly disgusting soup in which we have been forced to stew as it is slowly but deliberately brought to a boil.

Your defense of the indefensible and disregard for any attempts to bring the perps to justice smacks of participation. Which would explain why you believe everyone should just view it as 'business as usual' and turn the other cheek. If so be warned Doode: we're fresh out of cheeks ovah heah.

Wed, 06/01/2011 - 13:54 | 1329562 Clampit
Clampit's picture

"Individual responsibility" is systemically avoided. Im my experience the people who profess to only hate the game get rather upset when a player starts making secession noise.

Wed, 06/01/2011 - 11:02 | 1328653 Atlantis Consigliore
Atlantis Consigliore's picture

Dont mind those 6 million homes stinkin and

leakin and moldin,  tax the internet and tax those rich businesspeople,  they and bankster

arent hiring, its their fault,  wheres the NO Doc

Loans.

Nikki, wheres our Casino?  We can have the

41 M illegals, and the 41 M welfare and foodstamps  gamble with Markers, from the FED

keep on printing.

Music, play the Rap;  "Big Money!!!"

its the new national anthem, ....LOL

http://www.youtube.com/watch?v=dV_49xlZ07Q&feature=related

ITS THE TAX PAYERS THE TAXPAYERS TAKE IT IN THE REAR, JUST LIKE

THE MOVIE WITH THE MONKEY SMOKIN CRACK AND PRINTIN CRAP.

PUT LIPSICK ON IT. SUCKA.

Wed, 06/01/2011 - 11:00 | 1328660 PaperBear
PaperBear's picture

CRIMINALITY ENTHRONED.

United Criminal States of America

Wed, 06/01/2011 - 11:04 | 1328665 blindman
blindman's picture


really? what makes anyone think the us
financial system is eternal? especially with
the likes of g.s. running it, or is that ruining it.
i think this is called circular logic.
really.
...
London Banker
http://londonbanker.blogspot.com/search?q=Concentration%2C+Manipulation+...

“In October 2008 the global financial markets crashed. The story in the media is
that it was a panic caused by the insolvency of Lehman Brothers. This is not the truth –
or at least not all of it. The crash actually followed a $2 trillion margin call by these
four global banks on their prime brokerage clients and OTC counterparties – effectively a
30 per cent increase in required margin. It was the margin call that forced liquidation
of global portfolios of all asset classes – and particularly the high quality, most
liquid asset classes.”
..
comment and links…..
leverage margin call doomsday opaque
derivatives.. – paper scam. ongoing
dr. strangelove written all over it.
.
Max Keiser NAPK���= PEY�O TPA�Z� (drugs, banks
and the Crisis, Greek subs)
http://maxkeiser.com/2011/05/31/max-keiser-napk%cf%89%cf%84%ce%b9%ce%ba%... tpa%cf%80ez%cf%89n-drugs-banks-and-the-crisis-greek-subs/
.

http://www.thepeakeffect.com/2011/04/top-25-holders-of-derivatives-total...
.
According to the 2rd qtr. OCC Derivative Report, the 5 largest holders of derivatives
(commercial banks) hold 97% of all derivatives.
http://investmentwatchblog.com/according-to-the-2rd-qtr-occ-derivative-r... t-holders-of-derivatives-commercial-banks-hold-97-of-all-derivatives/
.
There is still over $1000 TRILLION in bad paper sitting out there according to the Bank
of International settlements!
November 8th, 2009
http://investmentwatchblog.com/there-is-still-over-1000-trillion-in-bad-... there-according-to-the-bank-of-international-settlements/
.
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&add...×4832360
.
The Doomsday Machine in Dr. Strangelove
http://www.youtube.com/watch?v=cmCKJi3CKGE
.
“the whole point of a doomsday machine is lost if you keep it a secret
why didn’t you tell the world, ey.?” dr. strangelove."
end quote.

Wed, 06/01/2011 - 14:44 | 1329720 tip e. canoe
tip e. canoe's picture

Those commercial banks are JP Morgan (JPM), Goldman Sachs (GS), Bank of America (BAC), Citi (C) and Wells Fargo (WFC). The table below shows the total amounts of assets (in $billions), total amount of derivatives (in $billions), the percentage increase/decrease in assets from the previous quarter, the percentage increase/decrease in derivatives from the previous quarter, and the ratio of assets to derivatives holdings (A/D Ratio). The banks are shown in ascending order based on their A/D Ratio.
Inc/Dec. Inc/Dec.
Assets Derivatives Assets Derivatives A/D Ratio
GS $119.678 $40,477.262 -25.9% 1.4% 0.3%
JPM $1,663.998 $71,941.219 -1.4% -1.5% 2.3%
C $1,165.400 $31,943.721 1.9% 7.8% 3.6%
BAC $1,450.830 $39,064.884 1.2% 2.6% 3.7%
WFC $1,100.177 $5,111.215 110.0% 173.0% 21.5%

says it all right there

Wed, 06/01/2011 - 15:37 | 1329905 blindman
blindman's picture


it does look like that is the scene of the crime.
tape it off i say.

Wed, 06/01/2011 - 11:02 | 1328672 dcb
dcb's picture

I don't care about prosecuting the firm, stockholders pay then. I care about prosecuting the people involved.

Wed, 06/01/2011 - 11:02 | 1328673 jblack010
jblack010's picture

While we peons get to bear the brunt of the government's rath. Fourteen years of this shit. And now it appears the SEC knew all along.

http://www.scribd.com/doc/56105669/Cease-Collection

Wed, 06/01/2011 - 11:04 | 1328681 marcusfenix
marcusfenix's picture

for the banksters...by the banksters...with liberty and justice for all banksters...

(debt slavery and American idol for the rest of you)

 

Wed, 06/01/2011 - 11:13 | 1328685 PaperBear
PaperBear's picture

Not really surprised any more.

But what non-violent non-terrorist things are we going to do about it ?

Buy physical silver.

The banksters are more exposed to silver than gold and everyone should focus on GATA's full page advertisement published in the Wall Street Journal 31st January 2008.

My take on this:
The Treasury Department's Exchange Stabilization Fund should really be called Market Manipulation Fund
If the gold leased by central banks is sold for fiat dollars then the leasees now have liabilities that increase with the fiat dollar price of gold increasing 25% year-on-year.
Gold hedging at $300-$500 made Barrick/AngloGold shareholders come out BIG LOSERS when covering at $1k-$1.3k - the BIG WINNERS were the guys who they bought these hedge contracts from.
"the provision of international credits and joint efforts to influence asset prices - especially gold and foreign exchange." - for influence read rig. The supreme law of the USA (aka Constitution) says do not issue bills of credit. And it goes without saying that fractional reserve banking and leverage are also unlawful.

Wed, 06/01/2011 - 11:23 | 1328823 Silver Dreamer
Silver Dreamer's picture

What happens when owning silver and gold are made illegal, hmm?

Wed, 06/01/2011 - 12:17 | 1329149 Vic Vinegar
Vic Vinegar's picture

Then some people here will really get to live out their outlaw fantasies.

Wed, 06/01/2011 - 13:03 | 1329330 Thisson
Thisson's picture

It says the states shall not emit bills of credit.  It says nothing about the Federal Government doing it.  But it does say that specie shall be money, and that part is disregarded.  IMHO the Fed is unconstitutional, and so are FRNS and income tax.  But my opinion doesn't count for much.

Wed, 06/01/2011 - 11:04 | 1328689 Marley
Marley's picture

Funny, he said U.S. Financial System.  GS behaves like it is their Financial System.

Wed, 06/01/2011 - 11:06 | 1328700 oogs66
oogs66's picture

one and the same

Wed, 06/01/2011 - 11:08 | 1328690 Everybodys All ...
Everybodys All American's picture

and that in a nut shell is how we all fail.

Wed, 06/01/2011 - 11:09 | 1328695 oogs66
oogs66's picture

Too Big to Fail

Too Big to Prosecute

Too Big to Exist!

Seriously, who has managed to convince everyone that bankers are so important and so unique?

Wed, 06/01/2011 - 11:06 | 1328699 the rookie cynic
the rookie cynic's picture

Justice exists only for equals in power. Since Goldman is doing God's work, only God can dispense judgment.

Wed, 06/01/2011 - 11:07 | 1328703 jmac2013
jmac2013's picture

It's more than that.  Corruption and criminality is pervasive throughout the political, economic, judicial, military, financial and just about every other major system in the US.  So they all just look the other way, because to shine light on the crimes would bring everybody down.  The whole system is complicit. 

Wed, 06/01/2011 - 11:12 | 1328719 the not so migh...
the not so mighty maximiza's picture

NICE!!!!

Wed, 06/01/2011 - 11:12 | 1328715 Franken_Stein
Franken_Stein's picture

 

"The ultimate goal that these people have in mind, is the goal to create a One-World-Government, run by the banking industry, run by the bankers.

And that took an inception.

The European currency, the Euro, and the European constitution, is one part of it.

Now they're trying to do it in America with the North-American Union, right, and they want to create a new currency, called the Amero, right.

The whole agenda is to create a One World-Government where everybody has an RFID chip implanted in them.

All money is to be in those chips, right.

There'll be no more cash.

And this was given to me straight from Rockefeller."

 

Aaron Russo, in 2006, in an interview with Alex Jones

R.I.P.

 

Wed, 06/01/2011 - 11:20 | 1328773 marcusfenix
marcusfenix's picture

you know I used to laugh at the Alex Jones NWO crowd...I still think some of it is a bit ridiculous (like chem trails) but I have seen enough to say that I don't laugh anymore...

Wed, 06/01/2011 - 11:18 | 1328786 Franken_Stein
Franken_Stein's picture

 

You're not alone. I feel the same. No laughing on my part either.

 

Wed, 06/01/2011 - 13:07 | 1329339 Thisson
Thisson's picture

Uhhh, hello - you're late to the party.  They already have world control.  The central bankers run the entire world.  Haven't you noticed?  FIAT of different colors is the currency of every nation.  Gold, freedom, and free markets are nowhere to be found.

 

You are not alone:

http://www.youtube.com/watch?v=O2jj3YbgX_w 

Wed, 06/01/2011 - 11:13 | 1328726 White.Star.Line
White.Star.Line's picture

Justice has evaded mankind since the dawn of time.
Animals and fishes haven't seen much either....

Wed, 06/01/2011 - 11:13 | 1328728 nobusiness
nobusiness's picture

For the good of the Bankers (I mean Country) the Plunge Protection Team has been activated.

 

It is now safe the Buy the dip.

Wed, 06/01/2011 - 15:51 | 1329973 minsky4ever
minsky4ever's picture

When was it ever not operating?

Wed, 06/01/2011 - 11:11 | 1328734 Bay of Pigs
Bay of Pigs's picture

Goldmans CDS's are much higher than Citi's right now...

Someone sees trouble ahead for them.

Wed, 06/01/2011 - 11:14 | 1328756 Hondo
Hondo's picture

The conjecture of justice affecting the financial system is just pure nonsense spouted by those in need of protection from criminal behavior.  What we need is a system to protect us from the criminal behavior in the first place......and the only thing I know (and it doesn't work well....but it does get the criminal element off the street and out of the neighborhood) is prosecution and jail time.  Any other solution would cause me to not trust the government or goldman sachs and eventually lead one to move assets out of the country.  If they tried to force me to use a monopoly or prevent me from moving my assets out....then it would be time to pull out the gun.

Wed, 06/01/2011 - 11:16 | 1328767 Monedas
Monedas's picture

The banks are just whores handcuffed to the Motel 6 mattress ! It's Barney Frank prancing around naked in high heels, crackin' the whip ! Monedas 2011 Visit Pyongyang soon....we'll leave the light on for ya ! http://trololololololololololo.com/

Wed, 06/01/2011 - 13:13 | 1329385 Thisson
Thisson's picture

Other way around, friend.

Wed, 06/01/2011 - 11:19 | 1328769 weenus
weenus's picture

Has everyone taken all their dough out of TBTF?   Or is it just about bitching on blogs?

People, there is a way to stop this....

 

Wed, 06/01/2011 - 11:21 | 1328787 nobusiness
nobusiness's picture

I have move my money 3 times in the last 7 years and each time a TBTF bank has bought the bank I went to.  I am now moving to a Credit Union.

Wed, 06/01/2011 - 11:31 | 1328853 Silver Dreamer
Silver Dreamer's picture

Credit unions FTW!

Wed, 06/01/2011 - 11:18 | 1328789 wombats
wombats's picture

We all know the whole system is corrupt.  There is no news here.  Nothing to see.  Time to move on.

Wed, 06/01/2011 - 11:26 | 1328810 BlackholeDivestment
BlackholeDivestment's picture

Goldman Sachs! Oh, now I get it. Gold man, sacks of it

...in the BTFD of Cup Fornication.

No way these boyz are getting into The Kingdom http://bible.cc/revelation/21-21.htm paved with golden streets. The darkness of the Black Hole's bottomless pit awaits you Blankfiend, your ''gods'' work is kissing lord Chairsatan's ring  ...in the volcano. Gollum.  

http://www.youtube.com/watch?v=PLh66x1qgeE

Wed, 06/01/2011 - 11:24 | 1328828 GFORCE
GFORCE's picture

We knew this. The U.S. is like Zimbabwe but with nicer suits.

Wed, 06/01/2011 - 11:34 | 1328894 Silver Dreamer
Silver Dreamer's picture

I'd wager we have more guns and rope as well.

Wed, 06/01/2011 - 11:26 | 1328841 djcando
djcando's picture

Surprise, Surprise!  

What do you expect when the cat is asked to watch the canary?

Wed, 06/01/2011 - 11:32 | 1328852 optimator
optimator's picture

They'll put on a big show prosecuting any hedge funds, speculators, inside info traders, anyone with names like Juan, smith, Gomez, Jones.....folks outside the tribe.

Wed, 06/01/2011 - 12:49 | 1329275 Urban Redneck
Urban Redneck's picture

In other words, no one with a banking license.

Wed, 06/01/2011 - 11:32 | 1328864 bankonzhongguo
bankonzhongguo's picture

Good people have to realize that Amerika is just like Afghanistan.  The Fed and Obama fly over the devastation with their trillion credit armada attempting to win the hearts and minds of the inconvenient huddled masses to print another day. 

But like AfPak - they don't hold the ground and they never will.

Sure there are attempts to put GPS in your phone, car and underwear and DHS now compels the TSA to certify local for-profit security to uphold 'the law" in years to come. 

But again its another tropism.  Stop feeling so powerless about things you will never control.  There may be an ocean of unknown laws and an army of enforcers, but that does not mean you can't resist.

Take a cue from the whacked-out cave dwellers from the Korangal Valley.  Go to ground in your county, because that is the only sphere of power a politician really has.  Look to your neighbors, your family, local businesses, the Rotary, the Sheriff.  Engage these local groups and take a stand with local political action and get involved to reinvest local money into local business.  The Amish, The Black Panthers, the American Middle Class.

The dollar is being killed on purpose, for reasons you will never understand.  Illegal immigration will never be stopped, because surplus labor is easily exploitable.  A carbon based economy is just an excuse to privatize government. 

But you still your have to feed your family in your hometown.

Wed, 06/01/2011 - 11:47 | 1328976 jmac2013
jmac2013's picture

Great post, totally agree.

Wed, 06/01/2011 - 12:45 | 1329264 flattrader
flattrader's picture

I wish the Black Panthers would open up a BBQ place within 20 mi.

Seriously, I'd be there every weekend.

Bobby Seale wrote one hell of a cookbook.

Wed, 06/01/2011 - 11:33 | 1328871 TopOnePercent
TopOnePercent's picture

GS has always been aware of their ¨legal largesse¨advantages.

No one  has the means in terms of time and money to challenge GS in the courts.

 Legal largesse wins hands down.

JUSTICE in the US is a JOKE.

 

Wed, 06/01/2011 - 12:01 | 1329041 DaveyJones
DaveyJones's picture

surprisingly, it helps when you place your people high in the agencies that regulate you. That fact alone proves your last sentence. See Monsanto

Wed, 06/01/2011 - 11:36 | 1328881 buzzsaw99
Wed, 06/01/2011 - 11:43 | 1328932 Monedas
Monedas's picture

America is held hostage by the stupid, proletarian masses, managed ever so cynically by their Democrat handlers ! That's why freedom is under assault ! Monedas 2011 Quit blaming Capitalism....which has been dead for 100 years !

Wed, 06/01/2011 - 11:43 | 1328937 I am a Man I am...
I am a Man I am Forty's picture

that's great logic, the people who cause financial catastrophes must be bailed out and never prosecuted, Brad Hintz, you are a piece of shit for even making such a statement, this is precisely why they MUST be prosecuted

Wed, 06/01/2011 - 11:46 | 1328950 shortus cynicus
shortus cynicus's picture

...because such a move could threaten the US financial system.

I don't understand that argument.

Everyone knows that current financial system is not a solution, it is a problem.

 

Wed, 06/01/2011 - 11:49 | 1328990 web bot
web bot's picture

To big to fail...

Wed, 06/01/2011 - 11:56 | 1329002 XitSam
XitSam's picture

I would like financial crimes to be treated more severely than violent crime. Not that violent crime should be treated less severely.  Financial crime = life sentence at hard labor, weekly floggings, etc.

Wed, 06/01/2011 - 11:56 | 1329018 DaveyJones
DaveyJones's picture

yes, applying the laws of a society and system is the best way to ruin it. Or do I have that sdrawkcab?

Wed, 06/01/2011 - 12:09 | 1329094 lunaticfringe
lunaticfringe's picture

I hope I never face criminal precaution. I'm not sure exactly what that is, but I don't like the sound of it.

Wed, 06/01/2011 - 12:13 | 1329130 IEVI
IEVI's picture

"Goldman Sachs wont face criminal precaution related to sales of mortgage linked securities because if such a move is made they are threatening to destroy the US financial system."

 

There fixed it!

 

 

Wed, 06/01/2011 - 12:17 | 1329132 Pinky
Pinky's picture

Welcome to Enterprise Corruption.  Enterprise corruption is not punished because it's just how globalism (taxpayer financed overseas infrastructure disguised as war)  is DONE 'round here. 

The Enterprise "Bridges the X Divide," outsources the jobs, and then sticks shareholders and/or taxpayers with the bill.  One Enron at a time.

It's basically cookbook by now, but this is the first time the Enterprise has needed to implement an Exit Plan when Everyman has access to an internet connection and a cell phone.

http://www.enterprisecorruption.com/

Historical pattern of an industrial revolution (in order):

  1. appearance of a disruptive and revolutionary utility, technology, science, or discovery (minerals)
  2. measurement of its effect on wages
  3. identification of out-sourceable nations
  4. closed-door task force convened
  5. war started (perfect citizens galvanized)
  6. securities regulation lifted
  7. quiet waivers and exemptions from previous white-collar crime legislation
  8. corporations re-located off-shore
  9. book-cooking commences
  10. moral/ethical diversion(s)
  11. foreign infrastructure upgrade
  12. foreign infrastructure goes “online”
  13. book-cookers quietly confess 
  14. book-cookers withdraw holdings
  15. rumors spread of inappropriate accounting methods
  16. share value debased
  17. book cookers publicly confess
  18. public receives invoice
  19. another war turns attention from book-cooking to life’s more important issues (life & limb, individual safety, sheer survival from enemy du jour)

Pinky sez, So what "divide" are we going to "bridge" the next time? My guess is that we (the taxpayers and shareholders) will continue to finance the bridging of the "e-divide" in MENA/Africa but what do I know? I'm just a nosy watcher and see plenty more development and outsourcing to be done in electronic communications. One sign of the beginning of a new Enterprise is the destruction of the implicating evidence from the old one, so I suppose a massive data loss related to mortgage derivatives - or something like that - might be our first clue?

Wed, 06/01/2011 - 12:15 | 1329141 tejbear
tejbear's picture

Has anyone here investigated HARRP and its use for mind control? Some of the videos I reviewed indicated that HARRP is capable of inducing "mellow" attitude by hitting our brains with a lower frequency wave. Pissed off people have a much higher frequency. But when subjected to a lower frequency wave, whether they like it or not, the brain matches the lower frequency, and they are mellowed out. Add this to the never ending mind control crap spewed out of the TV on the MSM and you have an American public who are essentially hypnotized into a “mindless” stupor and who don’t want to be labeled conspiracy freaks….

Wed, 06/01/2011 - 12:21 | 1329150 minsky4ever
minsky4ever's picture

Minsky hit it on the head

Wed, 06/01/2011 - 12:30 | 1329182 arkhillbilly
arkhillbilly's picture

Well, when the President does it, that means it is not illegal.

Richard Nixon, May 20, 1977

Wed, 06/01/2011 - 12:46 | 1329249 luk427
Wed, 06/01/2011 - 12:58 | 1329310 Catullus
Catullus's picture

Agree 100% with this analysis. The justice department is too cowardly to do their jobs for which they're paid so much. Just a bunch of pussies. Should be first on the chopping block.

Wed, 06/01/2011 - 13:29 | 1329451 Segestan
Segestan's picture

Goldman Sachs wont face criminal............'precaution'.....?

Wed, 06/01/2011 - 14:42 | 1329502 Monedas
Monedas's picture

My dream is to fly the Space Shuttle full of silver up Barney Frank's anxious, quivering ass hole ! Monedas 2011 Space Shuttle payload capacity 50,000 lbs. ! Average Shace Shuttle actual payload about 16,000 lbs. ! 50K/16K = 31.25 % utilization ? If the Hubble was the biggest payload....some of those payloads were a few Happy Meals delivered @ $50,000 the pound cost averaging ? The cargo of 133 flights could have been carried in 42 flights ! Larry King, Oprah, Space Shuttle....just go away ! Monedas 2011 The $400 mm Space Shuttle launch didn't carry much more payload than a $20 mm Russian "Kerosene Powered" rocket which were used to build the Space Station ! The Space Shuttle was only used for it's grocery runs ? It's like taking an Abrams tank to the McDonald's drive thru window !

Wed, 06/01/2011 - 13:42 | 1329525 AldoHux_IV
AldoHux_IV's picture

So sick of that of lame outdated excuse-- let it crash it's broken anyways.

Wed, 06/01/2011 - 14:17 | 1329640 Savyindallas
Savyindallas's picture

Yes, please do threaten it  -in fact -destroy it- Listen to the shill neocon dualie Michael ledden in his bragging about creative destruction. I don't think we need to get too creative  -just put a few hundred gallons of jet fuel in every building on Wall Street  and light a match -that will cause every building to collapse at free fall speed in their own footprints. Just make sure we get all the secretaries, janitors and working people out of the buildings - who cares about the other human leeches in the buildings. If we can bury Bin laden at sea, we can have a massive witch and warlock burning on Wall Street.

By the way  -before the party  -all insurance policies with double insurance for acts of "terrorism" are cancelled.

Wed, 06/01/2011 - 14:50 | 1329731 Monedas
Monedas's picture

You are an angry young man ! Take me off your Christmas list ! Ha ha ! By the way, Monedas is happy to announce he is not a Neocon (not even sure what that is ?)......he is a Paleocon ! Monedas 2011 Comedy Jihad World Tour

Wed, 06/01/2011 - 15:31 | 1329891 blindman
blindman's picture


this just in ..
it is perfectly acceptable to scream bloody
fucking murder when you and your loved ones
are being ass raped in the hotel room you work in.
dks even said it, "you won't lose your job baby."
.
you don't have to limit your responses and reactions
to comments on the colorful spreads, sheets and
imported cushions.
.
civil dialog only applies to civil partners
and even opponents. these today are not civil,
react accordingly.

Wed, 06/01/2011 - 17:04 | 1330360 Bartanist
Bartanist's picture

To give up that easily is to say that we will always be slaves to banker parasites.

... but then again anyone working for Sanford would assume it could be no other way.

Wed, 06/01/2011 - 23:19 | 1331382 FlyPaper
FlyPaper's picture

 "Too criminal to fail"? 

 

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