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Today's Goldman Grilling
For those wishing to watch the full 10:00am Goldman hearing live and commercial free we suggest the following C-Span link. The witness panel for today's hearing is presented. We will update this post with all Goldman-relevant news as the day progresses.
Those asking questions will be: Carl Levin Chairman (D-MI), Thomas R. Carper (D-DE), Mark L. Pryor (D-AR), Claire McCaskill (D-MO), Jon Tester (D-MT), Tom Coburn Ranking Member (R-OK), Susan M. Collins (R-ME), John McCain (R-AZ), John Ensign (R-NV).
Panel 1
-
DANIEL L. SPARKS
(Prepared testimony)
Former Partner, Head of Mortgages Department
The Goldman Sachs Group, Inc. -
JOSHUA S. BIRNBAUM
(Prepared testimony)
Former Managing Director, Structured Products Group Trading
The Goldman Sachs Group, Inc. -
MICHAEL J. SWENSON
(Prepared testimony)
Managing Director, Structured Products Group Trading
The Goldman Sachs Group, Inc. -
FABRICE P. TOURRE
(Prepared testimony)
Executive Director, Structured Products Group Trading
The Goldman Sachs Group, Inc.
Panel 2
-
DAVID A. VINIAR (Prepared testimony)
Executive Vice President and Chief Financial Officer
The Goldman Sachs Group, Inc. -
CRAIG W. BRODERICK
(Prepared testimony)
Chief Risk Officer
The Goldman Sachs Group, Inc.
Panel 3
- LLOYD C. BLANKFEIN (Full Zero Hedge annotated testimony)
Chairman and Chief Executive Officer
The Goldman Sachs Group, Inc
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Kayman, here's a "brief" saga from Pre-Indian Caucasoids in America written about the remains of Kennewick Man, who now appears to be locked up in a museum without access to scientists while a legal battle lingers over his re-burial. Unfortunately, the Clinton Administration covered over the site where his remains were found with hundreds of tons of earth:
“On July 28,1996 Will Thomas and Dave Deacy found a skeleton, later to be called the Kennewick Man, on the banks of the Columbia River in Washington State. They called the Benton County coroner's office, which then turned it over to Dr. James C. Chatters, now an Adjunct Associate Professor of Research at Central Washington University and owner of Applied Paleoscience in Richland, Washington, and a forensic anthropologist, archaeologist, paleoecologist and local specialist in ancient bones who also happens to be married to an Indian woman. Immediately Dr. Chatters recognized the skull as Caucasoid and at first thought it might be that of an early 19th-century White pioneer, so he sent samples of the bones to an appropriate laboratory to be dated. Through advanced methods in radio-carbon dating the Kennewick Man was found to be about 9,300 years old.
"The remains are the best preserved and fullest skeleton of another seven similar ones that have been discovered in North America. After many anthropologists and other scientists did further testing on these skeletons, they found out that, in one way or another, they all had Caucasoid-like features. That is, while they were not exactly the same as modern Europeans, they were closer to them than to Indians or most of today's Orientals...
"Subsequent political machinations, including the treachery of the corrupt U.S. Army Corps of Engineers and the criminally duplicitous Mr. Bruce Babbitt, Secretary of the Interior under the morally defective regime of U.S. President Bill Clinton, blocked all further scientific efforts to determine the true provenance of this gift from the ancient past. The narrative of this crime against science has been set forth in detail by Dr. Chatters in his book on the subject, 'Ancient Encounters: Kennewick Man and the first Americans' (New York: Simon & Schuster, 2001).
"The government has allowed the Indians to steal some of the bones, add one not belonging to the skeleton, and put ashes and cedar branches into the bone box, as well as to unseal the protecting plastic bags so as to allow foreign material in to contaminate the bones. Furthermore, this same government has spent $2 million dollars in the legal effort to block scientific investigation of the skeleton, has lied, has concealed truth relevant to the case, and has dumped many tons of earth on the Kennewick discovery site so as to make all further serious work impossible. This last action took place, according to The Philadelphia Inquirer, on orders that 'came all the way from the White House' (Ancient Encounters, p. 160)."
According to an account written during the Clinton Era: http://www.zianet.com/web/kennewic.htm,
"The local tribes insisted that these remains of their ancestors be turned over for immediate re-burial. Scientists demanded the right to study them, pointing out the loss to science if such a rare find was re-buried without further study. The skeletal remains of Kennewick Man were locked up, and scientists were refused permission to do any further analysis.
"Several scientists sued the Federal Government for the right to study Kennewick Man, and the issue hung in limbo for several years; but just recently, Bruce Babbitt and the Clinton Administration made the decision to turn the remains over to the tribes for re-burial."
Back to the saga: And then...
"On April 19, 2001 the Associated Press reported that they had filed documents in federal court showing that the Clinton regime, seeking to avoid a 'messy' debate over just who the first human inhabitants of North America really were, had inexcusably and improperly allowed contacts between White House staff and members of a coalition of five American Indian tribes seeking to bury the skeleton. Further, the federal officials 'coached the coalition on how to plead its case.' ...
"Then, on February 4, 2004, a miracle: it was reported by the Associated Press that '[t]he 9th U.S. Circuit Court of Appeals in San Francisco upheld a decision last August by U.S. Magistrate Judge John Jelderks in Portland that the remains, which Northwest Indian tribes consider sacred, can be studied.' ...
"The three-judge panel found that the remains do not fall under the Native American Graves Protection and Repatriation Act and can be studied under the Archaeological Resources Protection Act…
"The ruling said the remains date to a time before any recorded history and that that makes it impossible to establish any relationship with existing Indians."
http://www.harbornet.com/folks/theedrich/hive/Kenn-Man/Kennewic.htm
lastly, from The Seattle Times four years ago...
WASHINGTON — U.S. Rep. Doc Hastings plans to introduce a bill that would make it easier for scientists to study ancient human remains, a sore point with some Native Americans who consider such research disrespectful…
Hastings unveiled his proposal at the East Benton County Historical Museum, which houses an exhibit about Kennewick Man, a 9,300-year-old skeleton found in 1996 along the Columbia River…
The legislation is an attempt to counter a bill backed by U.S. Sen. John McCain, R-Ariz., that would allow tribes to claim remains based on a geographic connection rather than a confirmed cultural affiliation…
Alan Schneider, an attorney for scientists who sued for access to Kennewick Man, said it is important that scientists have the ability to research human remains.
"I think the real repercussion at stake here is whether the American people will be allowed to learn about the American past," Schneider said.
http://community.seattletimes.nwsource.com/archive/?date=20060816&slug=hastingsbill16m
A must read:
http://market-ticker.denninger.net/archives/2237-On-Our-Rotten-Financial-System.html
Susan Collins isnt very sharp , about all one needs to know of these hearings. The GSers look at her like she is strange ..lol.
Were going to regulate you! now don't give us that money please don't.. we beg you!
Isn't very sharp is being too polite.
susan collins is my senator.
she is a moron.
she is owned by halliburton....so this is not her particular feedbag....
Ms. Collins is getting beat up.
Where is Ron Paul!!!
(oh, I know the answer)
As airline passenger fees soar, I thought of you when I saw Rob Rogers' recent cartoon of an airline passenger in the cabin listening to the following speaker announcement:
In the event of a water landing…your seat cushion may be purchased for $45 and used for a FLOTATION DEVICE!
Heh heh heh.
"But I paid for it!"
"Sorry, bankers and concubines first!"
Sorry to break this to this group but despite wild flailing our public servants have not landed any punches.
paging Jack Bauer. i think the GS guys have evidence linking them to Pres Omar Hasan
These are the geniuses of GS? Hah!
agree, Ritholtz is a windbag of epic proportions.
Wonder if the GSE's were big into originating these garbage loans? Of course, GSE's are off limits.
Waterboard them
This hearing is getting fun
Well finally some senator is bringing together the moot point....Senator McCaskill
Goldman Sachs can save its reputation by merging with Earl Scheib and appointing
Eddy Antar CEO
Goldman Sachs can save its reputation by merging with Earl Scheib and appointing
Eddy Antar CEO
Senator McCaskill is BY FAR the best one up there. She is nailing their asses!!!
lovin' her calling it the "vig"...
you go clare. you go.
Senator McCaskill for Fed Chairman!
My political views are just to the right of Genghis Khan and I would support her...
Right left up down inside and outside is secondary at this point, the fundamental question is are you for or against criminality and treason.
Nobody who has read the SEC charges in this case can deny that this is a simple matter of lying and cheating. Supporters of the industry can only say that this is the way the game is played. Enough truth. But why is the feckless SEC moving on one of the biggest and smelliest rotting fish in the basket now? Could it be that they need this sideshow to cover their own legal problems, for example, the CMKX diamond fiasco, the biggest lawsuit in history?
GS is another Enron, watch they will be shut down.
Not going to happen.
In a WSJ article last week, Senator Dodd said, "... the last thing we want is for these companies to go out of business."
Chapter 7 for these gangsters.
What's funny is that GS stock is up for the day. The PPT (Prick Protection Team) must be scrambling like mad.
It's very easy to make GS and anything else you want go up endlessly when you have an ever expanding balance sheet brought to you by the same FED that you are a part of.
You give these SOB's a trillion dollars and they give you the biggest rally ever in terms of percentages.
You give me a trillion dollars and I'll do 2 things:
I will buy all kinds of products from small public companies with available call options.
I will use their products to build sustainable living communities for human beings at locations that will not be washed over with rising tides.
I will perpetuate my racket by continuously profiting from the call options and common while I buy more products from these companies.
This creates a real positive loop feedback that will help almost everybody except wealthy banksters and destruction fetishists.
After it's all said and done, I go short the stock market with the intent to destroy it so it cannot rise up again.
Then we live in paradise on earth as long as we have enough volunteers to make clothes, plant and harvest food and help each other do positive things on this planet.
I would also make sure to clone myself several times over just in case they wanna go JFK on my head.
I've stated this several times before and I will state it again: These people are running a RICO RACKET.
This fascist mess in our country and the world in general is not going to stop until we get perp walks for the people that are in charge of the Federal Reserve Racket and their minions and overlords.
It may get Hitler level ugly before this is stopped. What we have been witnessing for the last few years are the seeds for a sequel to the impovrishment that lead Germany to start World War II.
They way to nip this in the bud is to shut down all the Federal reserve bank racket pronto and reconstitute a new national bank made up from the people who are willing to work to help restart the economy without worrying about making hundreds of millions of dollars.
I know people will shout that it sounds socialist. It is.
But it is better than the current fascist system that we have in place.
We need to have this new national bank take all the assets that the FED racket has not made worthless and use that to lend to people who want to do something other than speculate on destroying the world financially.
This national bank should lend at less than 1% interest rates, ideally zero percent loans should be given but the international speculative racket would find away to have a carry trade with this.
We should invest in our future on this planet and being able to live on it with dignity without destroying our habitat or commiting to a genocidal culling of 90% of its population as a preemptive water/fuel resource hoarding plan
fUny - my solution is to give the holders of bank debt the equity , seize the deposits of the institutions and they can have their useless mortgage paper.
Create new banks with a 2 to 1 fractional reserve from these deposits and create new interest free money in a truly independent treasury that will use this new money to increase the oil free capital base of the country.
IT can be done and indeed we have no choice - this sordid episode in our history is over wether the holders of power like it or not.
Dork...yours is a far more profound solution.
Settle all current bets in an equity swap (regardless of dilution) and then re-start the game.
Socialism has not and will never be the answer. This point is playing out today, as the evil forces of socialism are driving Greece into destruction.
Carl I believe these new 2 to 1 banks can cater for the now smaller consumption end of the economy while the deflation from the increase in capital ratios can be countered by interest free paper to be used solely for the purpose of increasing the capital base.
This could rebalance the western economies towards capital growth while keeping power divided between the state institutions and the new banks.
Traditional Conservatives as I see it are worried about absolute power in the hands of any one institution or government and this approach may prevent this from happening at least for a time.
so according to Sparks, a market maker does not need to disclose to a client if they are pushing a product that at the very same time they are betting against as long as their position "can not affect" their client. What rule book is this?
I worry, though, about dear Golden Sacks...will Wal-Mart's announcement that they will "limit" cadmium in kid's toys negatively impact GS' Child Poisoning Division? It's bad enough that the Global Piracy Division has had its cover blown. What's next? The Nuclear Pro-Proliferation Division gets ratted out? Where will it end?
GS bought from no sellers! Now Ive heard it all, Im going to wear a court jesters hat into the office tomorrow, and say its 'barbelling', 'thin filing' or maybe 'tough bottoming', isnt that what they called it?
Good explanation from Sparks on how the sausage gets made on a credit desk. People may not like it, but there it is: For every protection buyer, there is by definition a protection seller. Doubt anyone would have cried foul if ACA's position had resulted in their receiving an uninterrupted stream of premia from Paulson / GS without paying out a dollar in losses.
AMERICAN REAM:
http://williambanzai7.blogspot.com/2010/04/goldman-sachs-american-ream.html
Senator #1: Who approved GS becoming an FDIC insured bank even though they have zero deposits?
GS Scum: I believe that was senator #2.
Senator #1: This isn't about the corrupt CONgreff dammit! Now answer my question, who at Goldman Sachs was responsible!
Know Your Enemy: Rage Against the Machine
http://www.youtube.com/watch?v=4smim2MNvF8
While I watch this I get the feeling like I am watching the mafia grill a bookie about why they all lost money on a football game.
Main Street doesn't want GS to FIX this, they want them to HANG for this. They KNOW they are plotting the next heist! Is anyone listing to this? Sit down AK.
The good Senator Pryor from Arkansas pitching softballs top Contributors:
#2: Financial services & securities
#5 Contributor Merrill Lynch
http://www.opensecrets.org/politicians/summary.php?cid=n00013823
What is the etiquette in a congressional hearing for a witness to take a bathroom break?
200 minutes on the over/under on someone mentioning GSEs contribution to the rampant fraud.
One would think that the guys being roasted or maybe even the truth tellers at Zero Hedge would be calling the senators on that instead of just swallowing this malarkey.
South Park goes live in DC.
Well, well...
The leveraged looking-glass on top of the aquarium has been lifted and the giant "Vampire Squid" has been revealed to be merely a little Hermit Crab... now seeking a beer can to hide in.
Feel free to write a book or make a movie based on this analogy. I suggest one with a little dog and a curtain...
Would it feature lines like:
"Pay no attention to the destruction of your children's dreams behind the curtain" and:
"I'll get you, middle class, and your little nest egg too"?
Nice!
I'll get you, middle class, and your little nest egg too!!!
If Fab is throwing heat at them with a split finger I want to see WalStreetpro2 step into it!
I could use a WalStreetpro2 fix.
I think they threw Kevin in jail. He favorites videos and checks his channel, but no new videos. Feels like jail time to me.
walstreetpro2 videos were better than any anti-depressant you could take. There should be a Walstreetpro2 concert tour with a heavy metal band backing him up. I would pay $50. to see Kevin break Chinese shit live on stage and give a commentary on the current state of America.
http://www.youtube.com/watch?v=4k4xPUZRdC0
http://www.youtube.com/watch?v=LyE1GoPtLyI
Favorited. +1,000 for walstreetpro2!
It is interesting how Sparks will sometimes chime/interrupt when Tourre is responding
Should be the other way around. Fab is having a fabulous time and reveling in his infamy. Wonderful performance so far by the Frenchman. Give that guy a spot next to Kneale and Caruso-Cabrera's jaw on Power Lunch. If anything it's Sparks that should shut up and let Tourre respond or chime in.
GS obfuscation at its best. Senate hypocrisy at its best.
Fortunately the Senate hearing is not a trial. The Democrats just want to do some underscoring to get their stupid bill passed. It doesn’t relate to the evidence the authorities have; all Levin has is some select emails…to be used as smoke and mirrors to cast the Republicans as friends of Wall Street. IE, news coverage every day that the Dems are the ones trying to get something done and the Republicans are just dragging their feet.
Levin called the hearing so it would coincide with the vote.
A prosecutor would cut these people into pieces. The Senate bill is the most pro-big bank legislation I’ve ever heard. It’s worse than neutral; it’s a hindrance. It adds further legislation keeping the big banks in control, endangering the smaller banks and providing even more cover than ever for the Federal Reserve.
I don’t know what the Republicans want, but the Democrats are lying about the bill being an effective reform for Wall Street. It is an amazing spectacle to watch Chris Dodd lecture senators who want to discuss this legislation rather than to pass it right on through. The whole show is a national disgrace.
+10
agreed
This is such bullshit. A question gets asked, it doesn't get answered, the asker goes onto the next one.
Totally not surprised that their asking questions like "Do you think the way bonuses are paid is ok?". The insane bonuses area symptom, not a problem.
The Senate questioning GS about derivitives when they refused to pass legislation to regulate it. When this is finished we need to have another committee to question the senators on their negligent and irresponsible behaviour.
Tester; Mr Burrrnbom- when did ya'll deecide the subpryme market would crash? All teese veehicles and stuff damn confusin. Someone done sumpin wrong here and damn Iam gonna git to the bottom of this stuff. Veeehickles - pfffft. Gonna open a whole can of whopass on ya city boys.
Now my contituents know Iam a really tough guy - with a big heart of course.
Yeah this guy is a DB.
These politicians are in way over their head, yet they're the ones sitting here asking questions. Then they don't understand the question, so they go onto the next one. Why it has to be these clowns that don't know what they're talking about asking these questions is beyond me. I understand they're the elected representative, but why wouldn't the acknowledge they're out of their depth? Get some advisors in there helping them understand the answers, helping them ask the questions.
Instead we get this song and dance where clowns like Tester ask questions that don't necessarily make any sense, waste a whole bunch of time, bit of huffing and puffing etc.
This is truly a good point; were there commissions when Columbia crashed? Did Senators pretend they understood rocket science at that point in time? How about a 500-person jury a la Athens -- then even if the jurors are being bought & paid for we're "spreading the wealth around" more effectively than we are now.
My favorite was when Levin got himself turned around asking Fab whether half the portfolio had been hand-picked by Paulson. "Quoi?" Yeah, did half of it have mortgages? "Je ne comprends ....Quoi?" DOn't get testy with me, I'm the chairman. You told us earlier that half of their mortgages were hand-picked by Paulson. "Monsieur ... non, I " Oh, sorry, sorry, half of the ones he recommended were NOT included, is that right? "Oui."
Dude's arithmetic gets him stumbling mumbling bumbling ... what the F is he doing grilling these sharks in suits?
It's absurd how easily the goldmanites were turning the senators inside out. At first I thought they were very well prepped, then I realized it's just because the senators are inept.
They're sitting there asking questions with the following things going through their head:
1) I need to make sure I say something that will make for a good soundbite
2) I need to make it look like I know what I'm talking about
3) I want to make it appear that I'm being very tough on these guys and are working hard for my people
4) Don't forget to mention their bonuses
5) Make sure I squeeze in about how the little guy on main street is hurting.
As for whether or not there is any actual regulator reform - who gives a shit. If they can manage 1-5 they'll be dislocating their shoulders to pat themselves on the back.
did any of the republicans on this committee do any homework. nigh a single republican is utilizing the voluminous exhibits/documents for probing purposes. the questions being asked from some of the republicans are ridiculous at best.
"did any of the politicians on this committee do any homework? The questions being asked from some of the politicians are ridiculous at best."
Fixed that for you
Bloomberg:
“Republicans say the Democratic measure would set up a permanent bailout of Wall Street banks and create bureaucracies.
“Democrats say the legislation would save the government from having to step in with taxpayer money to prop up ailing financial firms.” (Let the Fed do it.)
Of course, if you don't ask the right questions, you don't get the right answers. If Ron Paul were a Senator and a member of that committee, he'd be zeroing in on the kill.
From the little I have watched of this it looks like a waste of an opportunity, Senators are pathetic, they are outgunned intellectually and did not do their homework and because of that are not asking the questions they should be, (the cynic in me says that may be on purpose given the nature of gov & banking system). No wonder GS is green on the day.
Painfully obvious.
i agree, it could be a ploy from the republicans... this morning the democratic members had the panel under fire and were litigator like in the questioning and the panel was refusing to answer (re:to the legal ramifications of their statement.) it was very impressive in the 10 to 12 pm questioning.
How would you rank the testimony of the witnesses?
IMO Sparks is head and shoulders above the others and for some reason most of the questions are directed at him but I am sure that is just a coincidence.
The senators on the other hand are ill prepared and generally pathetic in their line of questioning.
As a short and smart deer, I would appreciate the "head and shoulders" taller deer with his eyes caught in the headlights. The smarter deer are going to walk away and watch him get run over.
The funny thing is, he didn't have to act stupid. Sparks is not charged with anything... yet.
I sincerely hope the level of the questioning reflects the fact that these gentlemen don't want to annoy their benefactors. I fear that it actually reflects their intelligence level.
Let William Black ask these guys questions. He would be better able to cut through their evasive answers. These senators are terrible in exposing them.
"IMO Sparks is head and shoulders above the others."
Not after he was asked "What would you change in the (financial) system?"
OK - now Tester finally gives up and pleads with the witness for help in doing his job.
So now JPM and their QUADrillion of derivatives inherit Walled Street, great.
Goldman guys are smart, no doubt.
But Levin has got fire in his eyes now!!!!!!!
Ok finally some real questions.
Trust me, when these guys are grilled in front of an investment committee or a credit committee, they don't stumble and sidestep answering the questions directed at them.
"....tomorrow, tomorrow and tomorrow, tis a tale full of sound and fury, signifying NOTHING".
I have to say... Mr. Sparks could work for me if he wanted to, he's good. "I'm sorry, what was the exhibit you wanted me to look at, I missed the last one". Got the chairmain to go back and forth through a few exhibits and he totally loses what the hell his point was, ends up looking like an idiot.
Who gives a shit about these crooks? Greece, Portugal, and the whole EU are imploding. This is just static in the grand scheme of things.
Sparks on the ropes, Levin flailing away. Sparks doing rope-a-dope. Are we paying for this show? Yes we are!!
Nailing them with their own emails and deals. Good job Levin. Finally some competent questioning.
Sparks.. just got Punked by Grampa Levin... priceless
Looks like only Levin did some research in the whole committee. Finally the show got interesting. I like this guy from Michigan.
Carl Levin doing some Waterboarding of Sparks,
SENATORS LEVIN AND MCKASKILL ..... I wish it would be only those two.... they are the only ones who seem to really want to stick a fork in these GS guys!!!!
Especially Levin....he seems really cheesed at the GS white shoe boys circling around the questions.
Goldman Sachs Lemons!!!!! Love it!!!!!
Senator Levin should be doing all this questioning himself. The man is cutting through some BS! "You don't have any regrets? You should have plenty of regrets!"
Need Levin, Black, Ryan and Grayson (Although he is a sociapath) he could be put to some good use.
Sociopathic cephalopods have no regrets
Now I would like to see a Black, Tavakoli vs the Squid - That I would pay for.
Is this the aperitif? When is Lloyd being served?
Levin softening up Birnbaum with a rapid series of body blows. Birney on the defensive. levin preparing to launch the uppercut - no wait - still going at the midsection.
Senator Carl Levin appears to be doing a pretty good job.
DavidC
Levin is really bringing it. Good stuff, although I could do with fewer populist asides. Of course those are the only parts that will make the news, not the "big ol' lemons" line.
The Lloyds Prayer always comes last.
All things considered, Levin packs a fairly good punch.
Where's Howard Cosell when we need him - http://www.youtube.com/watch?v=96KfeAFakak
Glad to Know that those AIB boys were the smartest in the room but if all the non Goldman guys were intellectually inferior to Allied Irish Bank then we are all truly f$£ked.
Note the Irish domestic banks did not buy this paper - our banking crisis is of a more conventional variety.
We may have bought a farmers field 90% above its true value but at least we own a field and not a piece of paper.
Now how can I hedge cows Lloyd ?
Senator: How many? How many dicks did you suck?
GSer: 37
Birnbaum is so freakin' phony..
Who owns the Committee Members?
Carl Levin Chairman (D-MI)
Lawyers/Law Firms
$787,926
$673,486
$114,440
Retired
$410,540
$410,540
$0
Pro-Israel
$366,378
$295,528
$70,850
Real Estate
$314,249
$288,249
$26,000
Democratic/Liberal
$198,547
$191,047
$7,500
Automotive
$172,749
$126,300
$46,449
Business Services
$168,870
$157,774
$11,096
Securities & Investment
$163,550
$153,550
$10,000
Education
$133,150
$132,650
$500
Leadership PACs
$127,500
$0
$127,500
Misc Finance
$126,740
$124,740
$2,000
Health Professionals
$119,700
$82,700
$37,000
Misc Manufacturing & Distributing
$106,550
$76,750
$29,800
Lobbyists
$104,615
$95,874
$8,741
Insurance
$92,318
$57,568
$34,750
TV/Movies/Music
$88,173
$75,173
$13,000
Electric Utilities
$80,454
$41,850
$38,604
Public Sector Unions
$78,750
$250
$78,500
Defense Electronics
$72,050
$37,800
$34,250
Retail Sales
$69,776
$63,276
$6,500
http://www.opensecrets.org/politicians/industries.php?cycle=2010&cid=N00001691&type=I
Thomas R. Carper (D-DE)
Lawyers/Law Firms
$337,841
$240,479
$97,362
Insurance
$310,830
$58,390
$252,440
Securities & Investment
$220,282
$109,384
$110,898
Commercial Banks
$205,199
$127,819
$77,380
Real Estate
$168,330
$101,900
$66,430
Lobbyists
$168,254
$165,634
$2,620
Pharmaceuticals/Health Products
$166,870
$63,550
$103,320
Retired
$126,379
$126,379
$0
Chemical & Related Manufacturing
$123,290
$37,750
$85,540
Finance/Credit Companies
$108,080
$28,960
$79,120
Health Professionals
$100,966
$38,136
$62,830
Railroads
$91,940
$49,500
$42,440
Public Sector Unions
$82,310
$0
$82,310
Electric Utilities
$79,615
$17,425
$62,190
Democratic/Liberal
$77,400
$71,400
$6,000
Accountants
$67,163
$16,700
$50,463
Pro-Israel
$66,250
$40,150
$26,100
Business Services
$64,790
$36,350
$28,440
Transportation Unions
$63,230
$0
$63,230
Misc Finance
$62,130
$25,450
$36,680
http://www.opensecrets.org/politicians/industries.php?cycle=2010&cid=N00012508&type=I
Mark L. Pryor (D-AR)
Lawyers/Law Firms
$791,901
$697,015
$94,886
Securities & Investment
$268,800
$190,800
$78,000
Lobbyists
$239,194
$226,753
$12,441
Leadership PACs
$213,100
$2,000
$211,100
Real Estate
$192,850
$157,350
$35,500
Insurance
$174,715
$35,715
$139,000
Health Professionals
$148,695
$73,695
$75,000
Pro-Israel
$138,250
$86,250
$52,000
Oil & Gas
$134,000
$74,000
$60,000
Retired
$127,350
$127,350
$0
TV/Movies/Music
$122,850
$34,750
$88,100
Misc Finance
$122,400
$90,500
$31,900
Commercial Banks
$118,592
$73,750
$44,842
Telecom Services & Equipment
$103,400
$29,400
$74,000
Electric Utilities
$100,487
$15,350
$85,137
Crop Production & Basic Processing
$99,490
$63,740
$35,750
Business Services
$94,750
$77,250
$17,500
Misc Manufacturing & Distributing
$91,400
$56,400
$35,000
Automotive
$88,200
$36,200
$52,000
Air Transport
$85,350
$18,850
$66,500
http://www.opensecrets.org/politicians/industries.php?cycle=2010&cid=N00013823&type=I
Claire McCaskill (D-MO)
Lawyers/Law Firms
$1,549,465
$1,469,358
$80,107
Women's Issues
$928,169
$901,106
$27,063
Retired
$777,834
$777,834
$0
Misc Business
$427,945
$427,945
$0
Leadership PACs
$333,363
$50,935
$282,428
Democratic/Liberal
$319,648
$312,848
$6,800
Real Estate
$256,649
$239,149
$17,500
Securities & Investment
$252,350
$239,850
$12,500
Health Professionals
$223,850
$170,850
$53,000
TV/Movies/Music
$222,220
$168,620
$53,600
Education
$168,609
$168,609
$0
Business Services
$159,089
$150,089
$9,000
Misc Finance
$139,625
$129,625
$10,000
Printing & Publishing
$121,052
$106,552
$14,500
Public Sector Unions
$111,250
$1,750
$109,500
Misc Issues
$98,567
$74,949
$23,618
Lobbyists
$90,693
$88,693
$2,000
Hospitals/Nursing Homes
$86,950
$60,950
$26,000
Transportation Unions
$84,500
$1,000
$83,500
Pro-Israel
$79,251
$59,916
$19,335
http://www.opensecrets.org/politicians/industries.php?cycle=2010&cid=N00027694&type=I
Jon Tester (D-MT)
Lawyers/Law Firms
$540,496
$486,368
$54,128
Democratic/Liberal
$418,930
$402,421
$16,509
Retired
$327,972
$327,972
$0
Securities & Investment
$217,449
$204,949
$12,500
Leadership PACs
$157,852
$14,072
$143,780
Health Professionals
$114,250
$78,750
$35,500
Environment
$111,477
$97,437
$14,040
Business Services
$105,147
$102,251
$2,896
Misc Finance
$102,376
$101,376
$1,000
Misc Business
$102,027
$100,027
$2,000
Education
$93,508
$93,508
$0
Real Estate
$92,520
$82,020
$10,500
Crop Production & Basic Processing
$81,067
$47,467
$33,600
Commercial Banks
$74,670
$39,120
$35,550
Insurance
$73,611
$22,446
$51,165
TV/Movies/Music
$73,048
$58,548
$14,500
Lobbyists
$69,693
$69,693
$0
Casinos/Gambling
$62,150
$52,650
$9,500
Livestock
$59,660
$59,660
$0
Public Sector Unions
$59,500
$0
$59,500
http://www.opensecrets.org/politicians/industries.php?cycle=2010&cid=N00027605&type=I
Tom Coburn Ranking Member (R-OK)
Health Professionals
$168,964
$92,464
$76,500
Oil & Gas
$105,700
$32,900
$72,800
Republican/Conservative
$104,243
$93,550
$10,693
Pharmaceuticals/Health Products
$83,551
$3,551
$80,000
Lobbyists
$83,053
$77,250
$5,803
Leadership PACs
$79,487
$1,950
$77,537
Retired
$78,208
$78,208
$0
Lawyers/Law Firms
$67,389
$25,475
$41,914
Securities & Investment
$66,377
$54,377
$12,000
Insurance
$61,500
$2,500
$59,000
Hospitals/Nursing Homes
$55,101
$25,101
$30,000
Accountants
$34,600
$6,100
$28,500
Commercial Banks
$34,450
$17,950
$16,500
Misc Finance
$29,342
$19,342
$10,000
TV/Movies/Music
$29,000
$1,000
$28,000
Business Services
$28,877
$28,877
$0
Misc Manufacturing & Distributing
$25,700
$9,200
$16,500
Finance/Credit Companies
$25,200
$12,700
$12,500
Real Estate
$24,100
$13,100
$11,000
Misc Defense
$21,650
$15,650
$6,000
http://www.opensecrets.org/politicians/industries.php?cycle=2010&cid=N00005601&type=I
Susan M. Collins (R-ME)
Retired
$511,549
$511,549
$0
Lawyers/Law Firms
$442,880
$338,964
$103,916
Securities & Investment
$409,883
$345,383
$64,500
Leadership PACs
$373,246
$0
$373,246
Health Professionals
$355,169
$102,669
$252,500
Real Estate
$270,900
$225,400
$45,500
Lobbyists
$254,598
$245,567
$9,031
Insurance
$244,850
$87,850
$157,000
Misc Finance
$172,650
$167,150
$5,500
Misc Manufacturing & Distributing
$162,350
$78,750
$83,600
Republican/Conservative
$153,283
$120,783
$32,500
Computers/Internet
$150,194
$57,700
$92,494
Pro-Israel
$139,518
$89,000
$50,518
Business Services
$137,634
$108,034
$29,600
Health Services/HMOs
$133,950
$52,950
$81,000
Pharmaceuticals/Health Products
$121,300
$27,400
$93,900
Retail Sales
$111,550
$43,550
$68,000
Commercial Banks
$109,384
$59,350
$50,034
Printing & Publishing
$97,467
$71,200
$26,267
Hospitals/Nursing Homes
$89,450
$25,450
$64,000
http://www.opensecrets.org/politicians/industries.php?cycle=2010&cid=N00000491&type=I
John McCain (R-AZ)
Retired
$299,175
$299,175
$0
Leadership PACs
$104,400
$0
$104,400
Real Estate
$85,470
$75,970
$9,500
Lawyers/Law Firms
$85,067
$66,267
$18,800
Securities & Investment
$79,250
$78,250
$1,000
Electric Utilities
$76,200
$16,700
$59,500
Republican/Conservative
$74,975
$68,975
$6,000
Misc Business
$58,825
$58,825
$0
Lobbyists
$57,700
$55,700
$2,000
Health Professionals
$52,155
$41,655
$10,500
Misc Finance
$51,075
$41,575
$9,500
TV/Movies/Music
$45,650
$33,150
$12,500
Defense Aerospace
$32,800
$5,800
$27,000
Business Services
$32,775
$25,775
$7,000
Insurance
$31,525
$13,525
$18,000
Food & Beverage
$30,800
$30,800
$0
Pro-Israel
$30,100
$26,100
$4,000
Commercial Banks
$29,800
$16,000
$13,800
Automotive
$25,900
$14,900
$11,000
Computers/Internet
$23,750
$14,000
$9,750
http://www.opensecrets.org/politicians/industries.php?cycle=2010&cid=N00006424&type=I
John Ensign (R-NV)
Real Estate
$318,641
$302,641
$16,000
Casinos/Gambling
$304,900
$260,650
$44,250
Health Professionals
$269,325
$111,900
$157,425
Leadership PACs
$234,500
$0
$234,500
Securities & Investment
$224,150
$158,150
$66,000
Lawyers/Law Firms
$214,813
$138,574
$76,239
Insurance
$214,038
$69,400
$144,638
TV/Movies/Music
$162,388
$103,198
$59,190
Retired
$150,600
$150,600
$0
Lobbyists
$129,569
$113,971
$15,598
Computers/Internet
$120,950
$38,950
$82,000
Pharmaceuticals/Health Products
$118,000
$18,000
$100,000
General Contractors
$116,500
$89,500
$27,000
Misc Finance
$95,500
$90,750
$4,750
Business Services
$85,100
$63,600
$21,500
Accountants
$79,549
$48,049
$31,500
Hospitals/Nursing Homes
$76,500
$16,500
$60,000
Telecom Services & Equipment
$75,490
$17,350
$58,140
Oil & Gas
$73,100
$22,100
$51,000
Commercial Banks
$70,350
$31,850
$38,500
http://www.opensecrets.org/politicians/industries.php?cycle=2010&cid=N00006619&type=I
Damn JW, couldn't you double column those?
sorry... I went back to edit it man... and I am locked out... as much as I think its to, too long... Tyler locks me out when I post some stuff becuase he wants it up... I shit you not, my edit button gets taken away becuase of the quality of the content and the known complaints that come from the length.. I will do my next info post with just one line of finance numbers... Lobby dollars from banking(ish) and the link only so its not so long..
Sorry to offend with the long list of lobby dollars paid to the Commitee Whores.
You're misinformed. You are locked out when somone responds. You can't edit after someone posts a response.
I went back, once again when I saw the length... but it was to, too late. I have made a mental note so it will not happen again.
My bad, I shoulda made my entry the follow on rather than a reply. I knew better. My apologies. peace
Jeezuz. Fuck the fuck off already.
Fuck you... all you do is one line bitch.. you dont share shit... so shut the fuck up and shoot yourself already, do the world a favor.. you whiney fuck... your wife bitches less than you... fucking mouth piece.
noob
copy/paste the whole intarwebs next time why don't you.
and no TD/ZH does not block your edits. you are fail if you think that.
http://www.opensecrets.org/politicians/industries.php?cycle=2010&cid=N00006619&type=I
by Miles Kendig
on Tue, 04/27/2010 - 13:29
#320100
Damn JW, couldn't you double column those?
Do you see an edit button? really? I guess I just erased it? becuase I need to lie to a mouthy fucking idiot that doesnt share shit? like I said "FUCK YOU!"
on Tue, 04/27/2010 - 13:48
#320138
noob
copy/paste the whole intarwebs next time why don't you.
and no TD/ZH does not block your edits. you are fail if you think that.
cougar_w,
The biggest problem with all of those lobby monies is that I posted them and its a long list? transference?
http://en.wikipedia.org/wiki/Transference
You could just post the link.
No it sucks because it's stupid.
Stop acting like you are going to save us from our ignorance. You think nobody knows about the funding issues? Christ, we talk about almost nothing else around here.
Write your own line by way of contribution or get lost. Nobody wants to fuck around with a copy/paste loser with a gripe who fills 40 god-damned scrolling pages with mindless god-damned crappage from another fucking website.
And that's why you are a noob; you think you are gonna school your Bishop.
Transference indeed. Another pseudo-intellectual gumming up the gears.
Under management? mid cap? pseudo what?
Like I said above... http://en.wikipedia.org/wiki/Transference
JW , I am very appreciative of the links you often leave for us.
To the rest of you...we are in the fight for our lives. Time to share , time to care, to the best of our ability.
Thanks! JW n FL, and now we can add up all the reasons why these “representatives” of the people are scrambling to do everything in their power to protect and bail out and provide legislative cover for these Wall Street oligarchs who wallow in global tyranny.
The key to our future is the Congress, IMO, and not the courts and never has been. The Congress has been the reason for this collapse of the system. They are criminally responsible for these assaults on morality and moral hazard and justice and now, most criticially, for turning over an economy built on the free market to the economic management of these master planners of world governance who pay them, threathen them, and own them.
I really think the key to all of these solutions is the removal of the oligarchs. And as Karl Denninger says, “Let’s see the handcuffs.”
If George Washington was alive he would line these idiot whores up and shoot them all.
"Don't insult our intelligence. We're not that stupid" - Senator Coburn
Bwhaaahaaahaaa
I love lemonade!!!
watching this hearing is like drinking a whole jug of LMAOnade.
Rumors earlier that GSCI may be forced to partially liquidate.
"I am French, so I do not understand what you are saying. But, all I remember is I have had many girlfriends." he he.
having a rich frenchie up there doubles the populist appeal.
using the standard model of stupidity in large organizations, I will take Levin by KO in the 2nd and 3rd rounds.
"Don't insult our intelligence. We're not that stupid" -
Oh no senator, I didn't say stupid, I said corrupt and complicit, not the same thing at all.
Thwack!
pwned
What time does Darth Blankfein appear?
Timmay, I am your father.
don't underestimate the power of the short side
I will believe in this dog and pony show if they don't even get Blankfien to testify until either past midnight or tomorrow.
If they are going hard against the low level guys right now so they can tire people and do nothing against Blankfien then the cynic in me is ready for that.
BTW, GS stock is going up because of 2 things: sell short the rumor, cover the news and the primary dealers at 33 Liberty working overtime making sure there is good buying on the bid.
They have to protect the media facing part of their octopus. And to think that JP Morgan has about 90 Trillion in derivative junk on their books.
Chance of GS down for the day: 0%
Chance that a .1% down-day would be played up as "GS got a spanking so now we can close the books" by CNBC: 100%
CNBC.com is working overtime today during these hearings to propagandize for GS, it's all butterflies and sweet phrench parfum.
Don't forget the lemonade.
It sure hasn't been elevated to the level of a mint julep.
I was wondering why Tourre's personal emails were released?? I think now I know why.....
That is to put a human face on Goldman employees and not show them as cold calculating people out to fleece everryone else.
Too bad GS can't collateralize the synthetic junk sub prime Democratic party it purchased and take the short side of that trade. They would make a bundle in Nov.
GS has been selected as the whipping boy for the Sovereign defaults that loom and is expendable to the larger goal of international financial reform being promoted by the G20, IMF, BIS, FSB, World Bank. I can't think of a more deserving sacrificial candidate. Just goes to show that past performance of GS Sec of Treasury does not guarantee future results.
They are some of the best and brightest and the panel looks like fools.
Its simple, nothing, absolutely nothing will come of this. For those impressed with Levin, forget it. Silly at best.
The "chicken in every pot" and "a new house to boil it" in crowd as truly out of their league....again.
Did Tourre just perjure himself?
Senator Levin: "I think you've not answered the question the best that you can so let's move on"
Too bad Janet Tavakoli can't ask some questions. And where are the rest of the Wall Street banksters hiding today? We all love taking shots at Goldman, but they're not alone.
Sen.Levin sounds like Deputy Dawg
http://www.youtube.com/watch?v=F85BCzo1F_8
"I'm a gonna git you Rushty..."
Carl Levin launches the haymaker at Fabrice...
Fabrice admits that the ACA documents 'could ahve been more accurate'...
Fabrice prevaricates until the bell rings.
How old is Birnbaum, like 12? And he's a former MD, did he start working there when he was born?
Actually, I think I remember seeing these guys somewhere else? http://www.youtube.com/watch?v=qoIvd3zzu4Y