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The work you put into these things, young man, is quite impressive. Nice post...
I see on the pie-chart above that GS has almost $5 billion in "Goodwill". Is that bribes to politicians?
A lot of work went into this. Thank you
Fraud without impunity... so what else is new?
Max Keiser piece on the subject in general, and Lehman specifically... from July 2008 (maybe the regulators are just a bit "Internet Challenged")!
This is a nuklar post!!!!!!!!
HAPPY SAINT PADDY'S GOLDMAN SKUNKS:
Great article Reggie, but I hate to see Dodds name in there. It definitely takes away from the credibility of anything they want to pass (as far as legislation).
70% of 'USA' Americans (not 'We Are The World' Americans) had better be prepared for a political revolution. IMO it is coming. It has to or else we are a failed nation. With an election just on the horizon this will be the ONLY way to shake up the system.
Market crashes ahead of this event. They'll get to blame the crash on the fact that after being caught red-handed the American people want justice and honor restored....and their diginity. Either way we will suffer masses losses but at least the perps will to. And perhaps we shall emerge as New America, cancel as much fraudulent debt signed off by the perps and then fight to show the world that we are again worthy.
Oh. And KILL "Public Unions" and imprison union leadership. Peace. Out.
I would jizz in my pants if JPM were to go under. No seriously. and no offense to anyone currently working there. Just sayin...
WRT "We must treat financial crimes with the same gravity as other crimes," however, I would assert that Wall Street's crimes should be treated with the gravity they deserve. Few crimes have impact remotely comparable to such mega-financial crimes. Murder and the like come to mind. Certainly they appropriately call for far greater punishment than stealing $500 from a cash register--both for justice per se as well as effective deterence of behavior that can very well destroy mankind's economic system.
Have to again say "Thanks" to Reggie for doing the work of keeping the facts out on the table.
About Kaufman, all I can say is, why can't he stay a little longer. He has the mental resources and character to actually do the job. The senate being what it is, however, he might have trouble in any dealmaking that he had to undertake. Eventually politics requires compromise.
Dodd seems to be trying to walk a line between showing some sort of reform to satisfy his constituents while still leaving usable loopholes for the bankers.
Time to write some more letters.
Of course congress had nothing at all to do with this while running up $14 trillion in debt. Bought first by you-know-who with -you-know-what.
If Kaufman had any intention of staying on, this speech would have been rewritten and re-re-written until it turned to mush. I just hope he keeps this stuff up in the months of glorious freedom he has left.
The Goldman assault seems Grass Roots... just like K-Mart verse WallMart ala Mr. Black not so long ago... So who has the horse power to chop up Goldman? and… how much is it worth in pieces? not much... cash flow from collateral arbitrage, in house trading and milking the 0% Fed Window?
There is no real value in Goldman other than the “Name Brand” and the Political Clout / Inner Beltway Lobby.
If Goldman is the premier Bank (I can Not believe that’s a fact) on WallStreet then our system as a whole is truly Fucked.
Only problem with Senator Kaufman, he disapears the first week of January 2011. Remember this is the guy that was picked to replace Biden so Beau Biden could run in 2010. Needless to say he has the summer to get the smoking gun and after that it noise from September to November.
Another great article on ZH, and thanks Reggie for the research/work. Makes me proud to donate my mere $50 to ZH a few weeks back. Worth EVERY penny as it helps guys like me get a better understanding of WTF is really going on! (plus saves me HUGE time when/if i have to research all this myself)
Nice post, Reggie. But with the lawbreakers in charge, the politicians bought (with a few notable exceptions), and regulators castrated and bound, nothing will get fixed. We're getting words about change, but deeds are what counts. Also, Dodd ain't playin' on our side, that's for sure.
What's with the idea of putting Kaufmann and Dodd in the same lineup?
The only lineup Dodd should be in is the one at the precinct on the galactic off-chance that there will be perps arrested.
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