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SIGTARP Neil Barofsky Says Will Investigate Goldman's Abacus Deal

Tyler Durden's picture




 

Just in case you were wondering what the reason for Goldman's weakness today was. Presumably this news was leaked in what is SOP for our capital markets. Let's recap: SEC - idiots; Barofsky - not idiot. If anyone will uncover something criminally actionable (hello Andrew Cuomo), it will be Neil, not those corrupt crony puppets at the SEC. We will get you more news once we see it.

 

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Tue, 04/20/2010 - 11:58 | 309372 Cursive
Cursive's picture

If he pulls this off, Barofsky is the bomb.

Tue, 04/20/2010 - 12:12 | 309409 BlackBeard
BlackBeard's picture

Sigh...if only Elliot Spitzer wasn't into attention whoring hookers...

Tue, 04/20/2010 - 12:29 | 309445 chet
chet's picture

Agreed.  The last two years would have looked very different.  Whatever his motivations (self glorification, politics, whatever) he was certainly not afraid to chuck bombs on Wall Street.  Seemed to revel in it, in fact.

Tue, 04/20/2010 - 14:56 | 309699 BlackBeard
BlackBeard's picture

Bottom line: he was very good at what he did.

 

Tue, 04/20/2010 - 16:49 | 309921 snakeboat
snakeboat's picture

From his articles of the last 6 months, it sure sounds like he's still got it.  So what if he likes (call)girls.  Cuomo should hire him on the down-low to dig and dig and dig...

Tue, 04/20/2010 - 12:14 | 309411 hedgeless_horseman
hedgeless_horseman's picture

And starting at quarterback for New York in the Super Bowl, a 40 year old veteren from University of Pennsylvania, Neil Barofsky!

Bring your A-game.

Tue, 04/20/2010 - 12:14 | 309419 JohnKing
JohnKing's picture

Still pining away for Andrew Cuomo.. like a spurned lover, you need it to get through your head: He's just not that into you.

 

He isn't coming back, he was never on your side.

Tue, 04/20/2010 - 12:18 | 309425 crisafut01
crisafut01's picture

He's not going to do anything.  What has he done thus far?  Nada...

Tue, 04/20/2010 - 14:03 | 309614 pan-the-ist
pan-the-ist's picture

Our hero can only do what the gov'ment asks him to do.  If they are asking him to investigate this then GS aught to be scared.  Also, keep in mind that it isn't his job to bring criminal charges, it is his job to investigate, and it is some other entities job to bring criminal charges if the investigation discovers something.

Tue, 04/20/2010 - 13:03 | 309510 JR
JR's picture

The case of the Securities and Exchange Commission v. Goldman Sachs & Co. et al (Southern New York District, 10-3229), has been assigned to Judge Barbara S. Jones. – Zero Hedge

Here come da judge.  But, does here come the justice? 

Bill Clinton’s pick, Judge Jones, "is close friends with Estee Lauder general counsel Sara Moss and former Southern District U.S. Attorney (and current Debevoise & Plimpton partner) Mary Jo White. The threesome engage in competitive games of cards and tennis, said Moss.”

Does rubbing shoulders rub off?

Serving these many years on the Board of Directors of Estée Lauder Companies and The Economist Group is shareholder Lynn Forester, Lady de Rothschild.  And who might she be?  A few snatches from her Wiki bio paint the picture:

Lynn Forester, Lady de Rothschild is the chief executive officer of E.L. Rothschild, a holding company she owns with her third husband, Sir Evelyn Robert de Rothschild, a member of the Rothschild family. The company manages investments in the British business magazine The Economist and various enterprises in India. By virtue of her marriage to a knight, she is known socially as Lady de Rothschild. Forester has stated that her first business success came at the age of 16 when she bought US made blue jeans and brought them to sell in Israel during her vacation there and sold them for up to ten times what they had originally cost her.

(Among many financial ventures) in 1998, Forester founded the Luxembourg-based wireless broadband venture FirstMark Communications Europe, which acquired fixed broadband licences for Germany, Spain, France, Switzerland, Luxembourg and Finland and built a 20,000 km fiber network through-out continental Europe. Boasted on its Board of Directors Nathan Myhrvold of Microsoft, Washington D.C. power broker Vernon Jordan and Henry Kissinger. The company was sold in June 2000 in a $1 billion financing, the largest private equity placement in the history of the European competitive telecommunications sector. In discussing her personal business success between 1989 and 2000, Forester has said: "I think a lot of it is that I was lucky...most of all I learned that it's better to be lucky than to be smart."

Forester was introduced to Sir Evelyn de Rothschild by Henry Kissinger at the 1998 Bilderberg Group conference in Scotland and they married on November 30, 2000 in London, England, after Rothschild (born into the fabulously wealthy European banking family and almost 23 years older than Forester) had left his wife and three children. She is his third wife. On the announcement of the marriage, the de Rothschild couple were invited to spend their honeymoon at the White House. 

Lady de Rothschild was a major fund raiser for Hillary Rodham Clinton's 2008 Presidential bid and has received attention for endorsing John McCain for President. She has stepped down as a member of the Democratic National Committee platform committee

http://en.wikipedia.org/wiki/Lynn_Forester_de_Rothschild

As to Ms. White:

Ms. White served as a Director of The Nasdaq Stock Exchange, and on its Executive, Audit and Policy Committees (2002 to February 2006).  She is also a member of the Council on Foreign Relations.

http://www.debevoise.com/attorneys/detail.aspx?id=26af1fa8-0acf-4ef5-9c3b-1f08b1aa7de0

Tue, 04/20/2010 - 14:10 | 309629 pan-the-ist
pan-the-ist's picture

So you are saying go long Goldman Sachs? (Sorry if my lingo isn't correct.)  We'd need to discover if the Rothschilds would have a reason to destroy GS though, wouldn't we?

Tue, 04/20/2010 - 15:24 | 309738 JR
JR's picture

I’m saying why is it we don’t get justice?  I’m saying why is it that laws keep being passed that take money away from U.S. taxpayers and give it to the Squid?  And I’m saying that the answer can be found in the social, business and political connections of the oligarchs  that keep on being discovered in this massive, worldwide knotted entanglement.

Justice needs to be above suspicion, and I’m suspicious.

As for the connections the worldwide investment bankers keep, all one needs do is look at the kinship of the bankers who “founded” the Fed.  In addition, an excerpt from the following article on BigNews.Biz helps explain the connection -- Obama vs McCain or Goldman Sachs vs The Rothschilds:

How in the world did the Democrats and Republicans, the liberals and conservatives and the media of this nation all agree to such a massive commitment to save the very institutions that cheated, committed fraud, bent regulations and out-smarted the best minds in government and finance? How did people with opposing philosophies who were bitter political rivals bury the hatchet …? 

Well perhaps the quiet involvement of Goldman Sachs and the Rothschilds may explain as these global powerhouses have been getting their way with governments since long before most modern governments even existed.

In 1750, 26 years before the American Declaration of Independence the Rothschild family began their journey to become the most powerful financial family in world history and though to this day the vast majority of their holdings are privately held, estimates of their family holdings are as much as $167 trillion dollars. Strategic actions over the 258 year continuous evolvement of the Rothschilds has led to control of much of the world supply of gold, oil, diamonds and many other assets.

As for Goldman Sachs, they were founded in 1869, shortly after the end of the US Civil War and at the dawning of the industrial revolution in America joining yet another family firm still around today, J.P. Morgan whose work to save the Union during the Civil War earned it many privileges during the explosion of growth in America including the opportunity to finance the Rockefeller Standard Oil empire with Rothschild money. …

Although they (Rothschild, the most powerful of all financial houses and have long chosen to remain in the background while other firms fronted their interests) compete with firms like Goldman they also cooperate often on international mergers and acquisitions, have been partners in the oil futures exchange, and recently both sought to expand their influence in Asia with the Rothschilds selling a 20% interest in one of their companies to the Bank of China. The Shanghai and Hong Kong-listed commercial bank will pay $341 million for the stake in the French arm of the La Compagnie Financière. It is the first strategic investment by a leading Chinese bank in the eurozone.

In spite of being foreign based the Rothschilds have been one of the chief beneficiaries of the economic crisis in America as J.P. Morgan and Barclays, firms with significant equity held by the Rothschilds, were able to gobble up Bear Stearns, Lehman Brothers and Washington Mutual in sweetheart deals for a fraction of their asset values in the midst of the crisis.

So what control do we really have over the elections, over the president and over the Congress? We know control has been lost of the economy, of world trade and of international finance. Most government institutions seem to be operating at the whim and call of the financial giants.. Is America for sale to the highest bidder and (was) Obama's $500 million campaign the highest bid?

http://www.bignews.biz/?id=788260&pg=1&keys=financial-Rothsc...

Wed, 04/21/2010 - 08:55 | 310569 pan-the-ist
pan-the-ist's picture

Indeed for sale.  This is America, isn't it?

Tue, 04/20/2010 - 13:43 | 309581 Magua
Magua's picture

SEC chose Richard E Simpson as lead counsel. He is no chump.

http://www.topusanews.com/news.html?kp1=simpson+top

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