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SEC Probing Disclosures And Potential Insider Trading At BP Amid Oil Spill
And by now, as Zero Hedge first reported, we all know who dumped a boatload of shares of BP just as its sellside team was pushing the stock to a buy...
Just headline for now.
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meanwhile, a populist sighting worth mentioning. two bumper stickers...on a bentley.
"clean the house...AND the senate 2010"
"all the seats are the peoples seats"
And as our movement "keeps rolling along" many of you are working on a name. Latest entry, submitted by the Village Idiot, for your review -
"PROJECT HEY MAN"
No doubt, this will not be in the top five. keep It Rolling - and don't forget to pull the max from your ATM on August 12. Party on.
EDIT: ok, no more repetitive posting today
Thanks for trying to do something. I will comply on 8/12/10. Hope it has a small effect.
The whole system is broken as most everyone here realizes. Confirmation article of the hopelessness of it all from Automatic Earh today.
http://theautomaticearth.blogspot.com/
@ IS
Thanks for replying. You're right, there is no hope, or change. Obama tried (didn't) it. "We" are working on "do". Pull that $$.
Cardboard colored bumper sticker-----Black sharpie, handwritten font---
"Will not work for Federal Reserve Notes"
How about "We will not work for the Federal Reserve."
what is our bumper sticker going to say? what combination of words will express american (global) solidarity, and, a warning for the power elite? thanks for responding.
We will not eat cake, remember Marie.
Jesus/Palin 2010
It Really Pisses off the Athiest Statist Liberals out here in the Winter Home of the Great Satan.
Satan/Palin 2010?
"One World, One Currency"
Cardboard colored bumper sticker-----Black sharpie, handwritten font---
"Will not work for Federal Reserve Notes"
i like the visual. what is our bumper sticker going to say? what combination of words will express american (global) solidarity, and, a warning for the power elite? thanks for responding.
Why not narrow Aug 12th down to a given hour? Be mindful of those hell and gone from the East Coast.
I thought "Biden For President" might make the top 5.
Anyway, onto the topic at hand...SEC probing anything other than their coworkers' anal cavities is meaningless. They are an utter failure...bought and paid for.
Just another diversionary tactic. Disgusting.
You mean Lucy Hold that ball up straight.
"I thought "Biden For President"....I like your thinking...I plan on having this one made up and handed out.....
As there are only five submissions at this point, you are looking good. Thanks for responding. And please keep it coming.
Didn't see the finalist, but, how bout:
save America
Stop the income tax
Stop the property tax
Yes WE Can!
Sorry, drinkin...........
no finalist yet - keep drinkin
You didn't like Inactive Patriots. How about Activated Patriots? Kind of a play on Activated Charcoal. It filters out the toxic.
"You didn't like Inactive Patriots"
i like them all! keep 'em coming. what is our bumper sticker going to say? what combination of words will express american (global) solidarity, and, a warning for the power elite?
It's a good thing thing the SEC is now immune to FOIA requests //sarcasm off
And in other news, financial blog Zero Hedge tosses its credibility in the dumpster by alleging that a Goldman Sachs sell-side analyst would pump a stock in order that Goldman Sachs Asset Management could sell down a position.
If TD at ZH had any real insight on Goldman Sachs and how it operates - which he quite clearly does not - then he would not make such an absurd and preposterous claim.
Quite right that would NEVER happen. It would be against the rules!
Actually, yes, it is very much against the rules, both SEC rules, and GS internal rules. To a GS GIR analyst, GSAM is just another client, no different than Fidelity or SAC. In fact, they are not as important as Fidelity or SAC from an Equities perspective so they would receive even less service.
In any case, arguing with the ignorant and uninformed is a waste of time...
Do you work for Goldman sucks?
Do you work at a Wal Mart?
Is that the best you could come up with? Really? I was expecting more. One more disappointment for the day. Thanks for nothing.
No, I don't; But do you work at Gladman sucks?
I only ask because you seem to know alot about them, and come to their defense like a true bankster. Do you think they are a great company?
Bullshit.
I've worked an entire career on both sides the street. There are no fucking rules at firms like Goldman. Even says so right in Goldman's own Policies and Procedures Manual under Conflicts of Interest, as was pointed out here on ZH. Rules, Chinese Walls, Clients morphed to Counter-parties. Who you tryin' to scam?
Bullshit.
"In any case, arguing with the ignorant and uninformed is a waste of time..."
...which could be far better spent surfing th porn sites...so you work for the SEC???
so how are things at 85 broad?
LOL. That's pretty funny. GS is no longer at 85 Broad, which makes my point brilliantly
Q.E.D.
Can you please enlighten us how it operates, so some of us mortals can score a point or two?
Or is it computerized and so mortals (the still working Americans paying taxes and suckered into buying stocks) have no chance?
If so, why don't we all get out of the market and crash it.
Village Idiot;
Maybe that should be the moto.
"Sell stocks-buy gold-we are on to you"
Village Idiot;
Maybe that should be the moto.
"Sell stocks-buy gold-we are on to you"
Officially submitted, thanks.
Can the theme song be "We're not going to take it" by Twisted Sister?
"Can the theme song be "We're not going to take it" by Twisted Sister?"
preordained!
Can you please enlighten us how it operates, so some of us mortals can score a point or two?
what is it you would like to know? if you are wondering if ZH's assertion that a GS sell side analyst would collaborate with GSAM to the benefit of GSAM, i will tell you that is not the way things work. A GS sell side analyst makes stock calls the way he or she sees them, right or wrong. A GSAM portfolio manager makes investment decisions the way he or she sees them, right or wrong. One is not privy to what the other is doing other than through 13-Fs and public research reports, no different than the relationship with other buy-side shops.
I have to say it dissapoints me that ZH would make such an assertion, because it means they are either
1. Ignorant, in which case the blog is a waste of time, or
2. Cynical, and will say anything that generates ratings and fits with their narrative, even things they know are not true
I'm afraid it is door #2., because I do not think they are ignorant.
as an aside, i find the "junk"ing process rather amusing. people press "junk" when something does not comport with their beliefs, and the more facts, logic and analysis provided the more likely they are to press "junk". it should be renamed the "don't confuse me with facts, I want to believe the stories" button.
we should only believe what Fabulous Fab and Divine Lloyd tell us, anyway. And the other two boys on the panel with their facts under oath (no stories there). A shame there was no junk horn on that show.
(nb. i never click on junk)
Hey, I'm not junking you. Wouldn't it be a better world if one company were not working both sides of the street anyhow? It's gotta get out of hand at some time -- at least it looks unsavory.
that's a fair point. it can look unsavory and is ripe for criticism, particularly when that criticism is not required to come with facts and evidence, only with assertions.
GS has to manage a lot of conflicts as a result of its choice to participate broadly across buy-side and sell-side. that said, it's no different at MS, JPM, C, DB, Barclay's, BAC, etc.
But since GS is so much more succesful than (most) others, they are a great target for populist rhetoric and rage in a worsening social mood.
I think ZH raises good questions, often. But they just look dumb, or cycnical, when they assert something as blatantly stupid and illegal as a sell side analyst collaborating with their buy-side PM to the benefit of the buy-side.
If you think that doesn't happen at GS and every other investment bank, you have a lot of faith in a system that has shown nothing but corruption. Policies are not followed according to wriitten policies , but according to a wink and a smile. Their is no "real" wall of seperation between departments. They capitalise on inside information all the time.
I don't "think" it, I know it, and I know it from many years of experience.
Tyler-
Any way for this hump to do stand up?
http://www.google.com/imgres?imgurl=http://www.product-reviews.net/wp-co...
The unknown unknown are the things that you don't know.
TROLL ALERT
When one is "doing God's work" then everything one does is above question and reproach.Unfortunately, every once in awhile, someone making that claim, it later turns out, was not quite doing what the average person might consider to be "God's work."
Now that I give this more thought, I cannot think of a single instance in which the party claiming to be doing "God's work" was later found to be doing that which was claimed....
"Goldman PR Lackey Dies in Pool Of Vitriolic Bile" ---details at 11.
I've been wondering when we get a Warren Commission or 9-11 Commission to 'investigate' this debacle in the Gulf.
Are you choosing those as examples because you want a whitewashed show trial that exonerates the guilty, blames some barely-involved innocents and disregards the majority of the relevant facts?
Let me suggest something credible like Nuremberg, though I personally would favor Judge Roy Bean.
I'm thinking more like Judge Dredd. Unlike Roy Bean, he isn't a notary public or "law west of the Pecos."
...nah, Judge Holden from Blood Meridian....
Fine em a burger and a shake and move onto the next joke of an enforcement action, shite Gordon Gekko went to jail for 15 years only to find out upon his release that alla shite he did ina 80s is now legal!
Imitation is the sincerest form of flattery.
"Gordon Gekko went to jail for 15 year..."
Gordon Gekko Really Did 22 Months in a Country Club Prison...
Got to keep most of his stolen $$$Billions and is now a "philanthropist" that many idiots fawn over...
"...and is now a "philanthropist"
...undoubtably, doing "God's work."...in the best Wall Street tradition of service to their fellow man...
we all know who dumped a boatload of shares of BP just as its sellside team was pushing the stock to a buy...
The squid and insider selling was in the 1st quarter while the sec is only looking back as far as april. I'm starting to lose respect for this board if you-all actually believe the squid will ever be punished in any meaningful way.
Seriously.
And as We Learned From the Obvious GS Abacus Frauds:
1. A wrist will be slapped.
2. A token fine will be levied.
3. A Political Butt Hole will crow.
4. The SEC won't be required to disclose anything.
5. The unemployed Amerikan rabble will be told to move along...
There is nothing to see here...
Except for the continued insider frauds liquidating your pension and 401k's...
http://abcnews.go.com/Business/wireStory?id=11306761
Matt Simmons - shorted stock and than began to make outrageous claims including saying he had been told that a lake of oil existed onm the Gulf floor. This is a CLEAR violation of SEC rules. Not only has he lost all credibility he should be in jail.
I notice that ZH's own George Washington has been quiet of late. Cleared his shorts and has fled the country on Simmons private Gulfstream?