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Will Goldman COO Gary Cohn Face Consequences For Committing Perjury Before The FCIC?
Christine Harper, Michael Moore and Bob Ivry have been quite busy today. After poring through the lifetime legacy project of their late colleague Mark Pittman, the trio may have just made a discovery that in a non-banana republic could be enough to at least force a special hearing into whether Goldman COO Gary Cohn committed perjury while testifying to the FCIC on June 30. The culprit: Goldman's (ab)use of the discount window not once, not twice, but five times. Well everyone else was doing it, especially Goldman's insolvent peers like JPM, Merrill Lynch, Bear Stearns, Lehman Brothers, Bank of America, Wachovia, UBS, Credit Suisse and, well, everyone else. So what's wrong with that? Here's what: "Goldman Sachs President and Chief Operating Officer Gary D. Cohn told the Financial Crisis Inquiry Commission June 30 that “we used it one night at the request of the Fed to make sure our systems were linked with their systems, and it was for a de minimis amount of money.” Peter J. Wallison, a member of the Financial Crisis Inquiry Commission, then asked, “you never had to use it after that?” “No, and as I said, we used it on the Fed’s request,” Cohn replied. Alas, that is a lie. And last time we checked, lying to Congress under oath is not quite the right the way to conduct God's work (and yes, a perfectly innocuous "I don't recall" ala David Sokol from his CNBC interview would have sufficed). Alas no: Goldman just had to demonstrate how very immune from the legal process it is, by "risking" its credibility and reputation with the assumption that it is either never wrong, or, like Warren Buffett, that it can never be caught doing wrong. Well, it just was.
More from Bloomberg:
“During the crisis, we tested our systems, including accessing the discount window; the amounts involved were de minimis, and the testing was routine,” Michael DuVally, a spokesman for New York-based Goldman Sachs, said today in an e- mailed statement. “The fact that we tested the system to insure our procedures worked smoothly was made known to senior executives. Routine tests thereafter were considered part of the normal course of business.”
Goldman Sachs and Morgan Stanley (MS) were the largest and second-largest U.S. securities firms until Sept. 21, 2008, when they both won the Federal Reserve’s approval to convert to bank holding companies. The conversion took place about a week after Lehman Brothers Holdings Inc., which was then the fourth-biggest securities firm, filed the biggest bankruptcy in U.S. history.
Congress assigned the FCIC to determine the causes of the financial crisis. The panel released a report in January, along with a 545-page book.
We are confident that the corrupt "representatives" (of Wall Street interests) in Congress will get right on sending out a subpoena to Cohn asking him to explain why he lied under oath. Then again, since this act was nowhere near as criminal as Meredith Whitney telling the sad truth about America's insolvency to the broader population, we feel our confidence waning... waning...
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No, and I have not even read the article yet!
EDIT: Just read it, still NO!
Anybody have a summary of the findings that even a moron like Jon Nadler can understand
Congress is a bunch of pussies, derelict in their duties.
They don't even hold the president accountable for his illegal declaration of kinetic military action (i.e. WAR). They give their power of the purse to the private central bank. They are dangerous given their contempt for the American people.
But hey, we can't get too angry at them. They simply follow the orders and talking points emanating from their corrupted parties. And oh what a PARTY it is, all at the expense of the public.
Like I said, ... PUSSIES!
Didn't Lloyd tell Congress the same thing, that Goldman had used the window only once to test it? The day the testified before Levin about the shitty deal?
So he perjured himself too
Now your talking my stuff. Lloyd Blankfein and Neel Kashkari surely belong in Jail with the rest of the banksters.
Had he confessed the truth at the time the result would have been catastrophic. Although it ran counter to every fiber in his being this small white lie bought the country the time it needed to stablize the recovery. He is a hero of epic proportion. Someone plant him a statue in Tel Aviv next to Pollard.
btw, free Pollard. http://www.youtube.com/watch?v=4KUQ0idNEIo
Will Goldman COO Gary Cohn Face Consequences For Committing Perjury Before The FCIC?
No, Gary Cohn will replace GE's Jeff Immelting-Nuclear-Reactor on the President’s Council on Jobs and Competitiveness.
GS shareholders can pay, they did after all, benefit from his lying...
Good catch. However, the squid is the law.
No way, Dude. He will certainly get a fine.
A fine bottle of wine perhaps.
No way dude, shareholders get the fine. He gets the bonus at an advantageous tax rate...
...until the swamp is drained.
Squid is also fish bait.
Lloyd on a hook.
If the federal government has the time to prosecute Roger Clemens and Barry Bonds for lying under oath.......
panem et circenses
+1 that was the first thing i thought of. but RC and BB affect people's lives more than this fucker (or so they think)
Do Roger Clemens and Barry Bonds buy US government debt?
Lloyd does...
"bailiff, wack his pee pee!"
"Thou shalt not take the name of the LLOYD thy SQUID in vain; for the LLOYD will not hold him guiltless that taketh HIS name in vain..."
Exodus 20:7
http://www.youtube.com/watch?v=NyEE0qpfeig&feature=fvwrel
Seriously?
Ok, ok you got him
He'll get:
30 days of house arrest and a $50 fine.
30 days probation to be served concurrently with his house arrest.
30 days off for God-like behavior
fine to be paid by FRB criminal activity facility
and no more chocolate for at least a week....
Naughty Lloyd, have another bonus...
and don't fuckin' do it again...
until we ask you...
I am pretty sure that there was/will be a covert directive sent out from the WH to prove without a shadow of a doubt that Mr. Cohn is innocent of all future charges. After all didn't they already say we shouldn't count what happened in the past?!?!
Rule #1- The banks control the government, not the other way around. In some ways I hope he gets away with it because of last time. Remember, they tried this last year? Filed charges and the bottom dropped out of the market? Or the bottom was dropped out of the market. The paranoid side of me (getting bigger every day) imagines the GS lawyers telling the government lawyers on May 5th "You're making a mistake here. Tell your masters to pay attention to what happens tomorrow afternoon, then we'll talk again". When did GS get their rediculous little fine and when did the market shake off the head and shoulders formation and start rising again. That paranoid part of me has always thought QEII was a bribe for GS and friends to forgo the fortune they would make on the standard tank-and-buy operation on the market in July and August. Do you think the Dems would own the senate still if the Dow was at 8000 in November? Not that it matters it's just crooks of another flavor. Sorry for the rant, I just hate thieves.
The devil made him do it .
Can they back-date their statements to congress, like they do their stock options?
You mean like they did at Countrywide?
Amend statements - done all the time - correct errors - nothing wrong here
doing Yahweh's work
There is more of a chance TD will face jail time for asking that question than the Squid COO will for felony perjury.
Burn that mother fucker at the stake.
Edit: Bitchez
..
Forgive them for they know not what they doall he has to do is prove he was willfully ignorant at the time of the statement.
That just means some new "system" did not report the sources off all borrowed funds to all the right people :)
Our information systems failed us. We will set up a task force to study the issue and improve corporate communication so that the right people have the right knowledge available to them. We are humbled by this error, but will learn from this incident. We wish we never made mistakes but we are only human.
GS might even get taxpayers to pick up the tab for improving their communication system?
"Ron Paul on Bloomberg Mar 31 2011 ..END THE FED!" - http://www.youtube.com/watch?v=CZEgFldAw5E&feature=feedu
Gary Cohn will take on the position of OCFO.
http://www.whitehouse.gov/administration/eop/oa/divisions/ocfo
/s/
Some people believe that Bernanke is God, in which case lying to Congress is permissible...
This is our window of opportunity - just like Capone had his achilles heel with taxes, we have this DOUCHE if we want him. Lets see if the political will exists yet
What the fuck is this "we?" Or the fallacy of political will? That shit is all political theater to mesmerize the rubes.
As George Carlin said, "They have a club and you ain't in it!"
"We" lmao. It's "them" and "us" - it's a good idea to keep it in mind.
He is goldman sachs so congress will do nothing. They all need campaign contributions. I am reminded of the song "If I Had a Rocket Launcher."
The little people need to take matters into their own hands if we cant depend on authoritah.
Cmon. There has got to be someone relatively healthy with a terminal diagnosis out there somewhere. Al Queda? Are you all talk? Didnt we hear something about a fatwa against bankers? Now is the time to make amends for that tower thingy.
I'm sure he will get a stern talking to. Very "strong words" will be used, it will not be pretty.
Consequences in the form of a promotion and bonus?
We don't have laws in this country. We have a set of rules that are enforced on the proles to keep them in line. The master class is immune. They could eat babies in front of CONgress and the only comment would be "Are you going to finish that?". Then Kudlow would go on and talk about how baby eating will drive the economy as the increased need of new babies will create a booming market in doctors.
We lost money on Abacus.
Wow, maybe they will impeach him. He will be the first coo to ever be impeached . Impeach definition: a horrible stain in history books resembling the color peach.
Do chickens have lips?
Ron Paul on CSPAN. Takes Questions from Callers.
Est. Running Time: 40 min
Part 1: http://www.youtube.com/watch?v=aaJ8V17rziE
Part 2: http://www.youtube.com/watch?v=tlzp8O1ew7g
Part 3: http://www.youtube.com/watch?v=N04AmrsXmrE
Part 4: http://www.youtube.com/watch?v=8ns2sIoskSA
Cliff(s): First 3 mins part 1, his basic economic thesis/forecast going forward
I guess this means ZH hasn't found evidence of substantial use of the discount window by GS, though it has found evidence that GS used it more than once, including 2 times for $1 million each.
ask Barry Bonds, he understands that it's not what you lie about, it's the lie. Of course a professional ball player accused of lying to congressional committee on the critical issue of steroid use in Americas' national pass time is on a completely different level than this petty matter.
Bonds is nothing more than the next outsider to get roasted in order to toss a little red-meat to the "tough on crime" crowd.
(Martha Stewart all over again)
Let's ask these guys:
http://www.opensecrets.org/orgs/recips.php?id=D000000085&type=P&cycle=20...
CONgreff critters are cheap hookers.
I thought Goldman was buying the US Treasury, not those old open mouthed prostitutes on Capital Hill?
Is there a difference?
Phony left against phony right. Yawn!! Bring back Balloon boy
hmmm... 2 year old paper.
One more nail in the USD coffin ...driven in by those behind the fed.
Part of the overal plan to tank the USD so they can replace it / control it.
Those who own the real assets...will make the rules going forward.
Hold your physical tight.
When will you peons learn your station? You -the American middle class- idiotically traded your properity for the 666 bankster empire? You are nothing and this shall be crystal clear to all soon!
roflmao
hmmm... 2 year old paper.
One more nail in the USD coffin ...driven in by those behind the fed.
Part of the overal plan to tank the USD so they can replace it / control it.
Those who own the real assets...will make the rules going forward.
Hold your physical tight.
dude, that's a four-bagger. u might have a tie for most. come forward and get your prize!
It all depends upon the definition of "use."
Rather like Charlie Brown once said "...it's like peeing in a dark suit, it gives you a warm feeling but no one notices."
Hi Dave. My name is Bubba and we'll be sharing this cozy little cell together ...
Hi Dave, my name is Sergey. You remember me don't you...Sergey Aleynikov? Does that ring a bell Dave?
Naah. Now, lying to Congress about cheating in baseball. That's serious stuff. Just ask Roger, and even he's not worried.
there ain't gonna be no justice people.
let's move on to more pressing news out of Japan:
http://www.guardian.co.uk/world/2011/mar/31/japan-pressure-nuclear-evacu...
Yo Tyler get cracking on Japan hell, would ya!?!? These banksters ain't gonna pay.
It doesn't matter if he lied.
GS is untouchable by any government entity - BECAUSE GS OWNS THE GOVERNMENT.
"BECAUSE GS OWNS THE GOVERNMENT" --- Rong
GS ( goldmnites and jopamites ) are the Government!
http://www.sec.gov/news/press/2010/2010-59.htm
This is Gary D. Cohn. I am the #2 over at "tha Squid." I don't give a fuck about perjury or the legal system in general. Got it? End of story. Move along to Gawker and Perez Hilton, you fucking peasants.
Of course not. You can only perjure yourself if you are a baseball star being investigated for steroid abuse. I thought everyone knew that.
maybe we can get L-l-l-loyd on "subornation of perjury", a concept first made famous in the Clinton impeachment maneuvers, if I recall
Another dirtbag "Chosen One". Who'd have guessed it?
absolutely nothing will come of this
I'm not convinced that this will be overlooked, pergury still seems to be something semi-enforced, probably because it's one of the most difficult to overlook, and now with webnet everyone can find it.
The rule of law went the way of the dinosaurs. It's eat or be eaten now.
to answer the question of the article, perjury charges are only for the little people....
Martha Stewart got jail time for lying.
I'm sure the penalty will be quite severe: $50 fine and a stern talking to!
Now go on your way and never do it again.
How can you find out what all these companies that mooched off the Fed posted as collateral?
"....that it can never be caught doing wrong. Well, it just was."
NO it wasn't! No it wasn't! No it wasn't! Blasphemy! Police! Police! Police! Somebody call the Dept of Homeland Security and shut this site down immediately!!!!
They're rubber and you're glue! What bounces off them sticks to you!
How dare you question The Powers That Be! How dare you Sir! You are not worthy!
By now it should be clear even to the dimmest village idiot that the capture of the federal government by the likes of GS, JPM plus the FED has been total. They form a state within the state, capable of mobilizing illimited resources (FRNs, discount window) to fend off any challenges to their cryptocracy.