This page has been archived and commenting is disabled.
Corzined Marvell Muppets Sue Vampire Squid
Pay close attention because this could be a record-breaking amount of mauling ever attempted by the colossus of client care as Goldman shows it does not discriminate between millionaire and billionaire Muppets. In a bizarre story in CNN Money, we are told that two billionaire 'married' executives of Marvell Technologies - MRVL (no, not the comic book though that would be spectacular) are suing Goldman for what initially appears to be a straight-forward alleged fraud of unauthorized transfer of ownership of their MRVL shares to Goldman's internal fund to enable more borrow availability for shorts (1 Corzine-ing). But the story gets better. The executives, upon the advice of another Goldman broker were advised to take levered long positions in competitor NVDA's shares (which GS was allegedly selling out of its own book - 2 Corzine-ings) only to very rapidly face significant losses when the company missed and the stock dropped notably (3 Corzine-ings). Then, GS sends the MRVL execs margin calls on that position (4 Corzine-ings) and unwilling to accept the MRVL shares as collateral due to its low share price (5 Corzine-ings), forces the former MRVL executives to sell their MRVL shares (6 Corzine-ings) to meet cash calls - all the while remembering that GS had transferred the ownership in order that they could allegedly have more of this hard-to-borrow stock to short (7 Corzine-ings). What's more, the couple's suit alleges that Goldman and a hedge fund run by Goldman were buying MRVL's shares at the same time the firm was forcing Sutardja and Dai to sell (8 Corzine-ings). Both NVDA and MRVL's shares have since more than doubled from their late 2008 lows. The couple claim they lost more than $100 million because of their forced sales and general Muppet massacre.
Do not, however, feel too bad for these two Muppets as Sutardja and Dia are not without controversy themselves. In 2008, MRVL paid a $10 million fine to settle allegations from the SEC that the company backdated the options it paid out to its executives. As part of the settlement, Dai, who was once Marvell's COO, paid a personal fine of $500,000 and was barred from being a director or officer of a publicly traded company for five years.
Couple says Goldman misused shares to assist short-sellers
Silicon Valley entrepreneurs say they were mistreated by Goldman, joining other critics of the firm.
FORTUNE -- Two Silicon Valley entrepreneurs suing Goldman Sachs say the Wall Street firm mislabeled shares in the couple's brokerage account in order to be able to assist short-sellers who were betting against the company the couple founded.
...
The suit claims that Goldman cost the married couple $100 million by duping them into selling a portion of their Marvell shares to cover a margin loan at the height of the financial crisis. "Goldman had no legal right to lend out shares that didn't belong to the firm," says Phil Gregory of Cotchett, Pitre & McCarthy, who is representing Sutardja and Dai. "This whole case is about Goldman trying to make Goldman look better, and my clients suffering for it."
...
At the time, interest from investors wanting to bet against Marvell's stock was soaring. The number of Marvell shares borrowed by short-sellers more than doubled from 16 million in mid-September 2007 to nearly 37 million by the end of January. The couple allege that by putting their shares in Goldman's name, the firm was able to lend those shares to short-sellers, allowing them to increase their bets against Marvell. Goldman also collected fees from the hedge funds and other investors who borrowed the shares.
...
Sutardja and Dai are not the only ones to complain about Goldman's securities lending operations. On Monday, the New York Times reported that a former hedge fund manager turned chicken farmer believes Goldman's mishandling of his trades by the firm's securities lending division caused his once successful $1.5 billion fund to collapse.
Sutardja and Dia are not without controversy themselves. In 2008, Marvell Technology paid a $10 million fine to settle allegations from the Securities and Exchange Commission that the company backdated the options it paid out to its executives. As part of the settlement, Dai, who was once Marvell's chief operating officer, paid a personal fine of $500,000 and was bared from being a director or officer of a publicly traded company for five years.
That was the same year the couple's Goldman troubles began. At a Goldman broker's suggestion, Sutardja and Dai bought shares in another technology company Nvidia (NVDA) in mid-2008, using a margin account in which their sizable holding of Marvell shares had been pledged as collateral. The couple quickly amassed a large position in Nvidia's shares. A Goldman analyst had recently begun recommending the technology company. However, according to the couple's suit, at the same time Goldman was telling Sutardja and Dai and other clients to buy Nvidia, Goldman was selling its own stake, slashing the company's investment in the technology firm by 60%.
Shortly after Sutardja and Dai purchased Nvidia shares, the stock plunged. Marvell's shares were falling as well. In late 2008, Marvell's shares dipped briefly below $5. Sutardja and Dai, according to the suit, got a call from their Goldman broker who said that they would have to sell 9 million Marvell says to cover the losses in their account. The broker, according to the suit, allegedly said stocks trading for under $5 a share could not be used as collateral for a margin account. The couple say they offered to come up with other collateral to back the margin loan, and that Marvell's shares rebounded above $5 within a few days. Nonetheless, they said they felt pressured to sell. What's more, the couple's suit alleges that Goldman and a hedge fund run by Goldman were buying Marvell's shares at the same time the firm was forcing Sutardja and Dai to sell. Both Nvidia and Marvell's shares have since more than doubled from their late 2008 lows. The couple claim they lost more than $100 million because of their force sales.
"Our claim alleges Goldman was trying to get into Marvell at the same time they were forcing my clients to sell," says Gregory. He says at the height of the financial crisis Goldman was looking for any excuse to reduce its lending in order to make its balance sheet look better to regulators and the firm's own investors. Sutardja and Dai got caught in the crossfire. "Based on the information we have, the order from New York was for the firm's brokers to close as many margin loans as possible. My clients were forced to sell even though the rational for the margin call no longer existed."
»
- 16532 reads
- Printer-friendly version
- Send to friend
- advertisements -
Caveat emptor?
That's soooo Goldman.
Seriously, could Goldman Sachs or JP Morgan or any of the other Kleptocratic Cronies who happen to fund a big chunk of the 'political war chests' of politicians on both sides of the aisle in Congress do anything that would surprise or shock the conscience of any sentient being?
Goldman Sachs, the firm that conspired with John Paulson (Abacus/Hudson/Timberwolf, etc.) to identify, bundle and promote/market as sound the most toxic repositories of MBS imaginable, after getting the credit ratings agency bucket shop known as Fitch to 're-brand' them investment grade, which Goldman then shorted with gusto (knowing ahead of time that these bundled, synthethized products contained time bombs), but only after Goldman put the toxic waste MBS on its 'convict buy' list for its VIP Muppet Clients, and had assurance that these 'solid' financial products were unloaded/sold at a high premium to their 'valued clients,' and for which Goldman was never prosecuted, merely paying a wristslap fine that probably amounted to a small % of the profits they reaped on the deal.
Goldman, JP Morgan, Morgan Stanley and all the rest of the wealth shifting & wealth destroying rapacious, voracious parasites of Wall Street....
....they've so deeply and completely captured the U.S. Government (and the British Government, also), that nothing short of some sort of revolution will save the Republic.
Banking is the parasitic drain on and obstacle to any prospect of a true economic recovery or honest growth in the real economy.
Fractional Reserve Banking is the enemy of capitalism, innovation and free enterprise.
http://www.youtube.com/watch?v=a8ecXITshe8&feature=player_detailpage
"so judgemental are they...
Snake eating itself:
http://bbsimg.ngfiles.com/1/16771000/ngbbs486bd5092a5d1.jpg
Klein Bottle:
http://hans.wyrdweb.eu/wp-content/uploads/2008/12/klein-bottle-300x240.jpg
You know it's the endgame when these slimy motherfuckers start turning on each other.
In the eyes of Goldman Sachs, Satan is a pussy.
Wow.. an Escher Relativity trade..
Seriously, what sort of imbecile still does business with these thieves?
Kermit the Retailer? Miss EuroFund Piggy?
My fav was how Goldman tricked Ashanti Gold into bankrupting itself by shorting gold, then had to watch helplessly as Goldman collected fees while brokering it's breakup sale to Anglo Gold, to become Anglo Ashanti. Like the guy said 'its sooo Goldman'.
Can this entry stay pinned for a while? for any semi-sentient muppets that may glance at ZH on occasion?
WHY
does
ANYONE
do biznizz with
the SQUID?
"In the eyes of Goldman Sachs, Satan is a pussy."
Aye. When Satan gets mad he says "Go to Goldman!!"
and yes, the marvelous MRVLs must have been heavy sinners to have fallen so far into the maw of Molloch
Hard to feel badly for anyone in this story.
Like begets like but opposites attract? WTF?
FTW anyways. In a police state, nun of this matters, don't be distracted.
ori
police-state-descends-on-america-things-get-nutty-in-india
Goldman shows it does not discriminate between millionaire and billionaire Muppets.
All Muppets are created equal....
Free Jon Corzine!!!!
Oh wait....he is.
It's like being in a dream, within a dream, within a dream, within a dream...
But at level 1 they were aware of a warm feeling on their finger tips
In level 2 they realized they shouldn't have eaten the prunes and oatmeal for the 2 previous meals
At level 3 there's a strong urge to speak up from the 'ol Toothless Wonder' region
-and finally-
Snap--> They got woke up by an elbow in the side from Sister Bertha Better-than-you sitting next to them in the pew, while the whole congregation is staring at 'em, and the choir raises their voice with a directed rendition of 'Shall we Gather at the River'...
And everyone ain't thinking about cleaning them up, nope, it's time for the bags with the shale and skinny dipping on the way to hell!
ALL your fucking shit belonga me BITCHEZ, ALL!
They've already Corzine-d Satan, and boy is he pissed.
Ahh, birds of a feather and all...
(You may hear the occasional sound of stacking going on)
Around these parts we call the whole affair Hillbilly Justice. What one toothless fool does to another is of no import in the regular community. Let 'em brawl amongst themselves. It's of no interest to the guy trying to find a job.
US of MFG. Little MFG bombs going off all over the place.
I am shocked this made it to MSM print.
I junked you.. Stop caring.. Get out of the way and let it crash.. EVERYONE STOP Posting truth or solutions.. just stop..
sit back and watch it all come down...
Learn to swim.. or, long popcorn in zh vernacular..
'Learn to swim...'
http://www.youtube.com/watch?v=D7ErpFBO7RI
Amen.
Fractional Reserve Banking is the enemy of......humanity.
Where's Alexander Hamilton when you need him???
The Primary Owners of the Federal Reserve Bank Are:
1. Rothschild's of London and Berlin
2. Lazard Brothers of Paris
3. Israel Moses Seaf of Italy
4. Kuhn, Loeb & Co. of Germany and New York
5. Warburg & Company of Hamburg, Germany
6. Lehman Brothers of New York
7. Goldman, Sachs of New York
8. Rockefeller Brothers of New York
which one of these is not like the other....?
these Talmudic Jews are
.
.
A. psychopaths
B. luciferian/satanists
C. Bodies being controlled by inter dimension reptiles
D. A,B
E. all of the above
Whatever they are, they are the enemy of free humanity everywhere.
Who can pick from these choices? Whatever the reality when Lloyd says he's doing God's work you have to wonder who his god is. Read between the lines, he may be telling the truth in his own way.
Saint Hitler wasn't a bad guy after all.
Hitler was a psychopath.
Hitler was a puppet, owned and ruled by bankers, like.........(fill in any name of ANY "sock puppets" from the last 100 years)
"Saint Hitler wasn't a bad guy after all."
How is the pay at the CIA blog provocateur department these days?
Telling the 'truth' in his own way is a pretty good indication that his god isnt God
Xibalba, this is not only old propaganda, it's also wrong (unnecessarily antisemitic) and irrelevant propaganda which might only damage any discussion about the FED.
The ownership of the FED is a moot point - any surplus generated by the FED goes to the Treasury. The FED is just the private hand of the Treasury - on paper.
In reality, the big biz is done by the fact that the Primary Dealers have first access to the FED's funds. Make a list of the Primary Dealers and you'll see who is "in the money".
---------
ok, ok, I'll do it:
Bank of Nova Scotia, New York Agency
BMO Capital Markets Corp.
BNP Paribas Securities Corp.
Barclays Capital Inc.
Cantor Fitzgerald & Co.
Citigroup Global Markets Inc.
Credit Suisse Securities (USA) LLC
Daiwa Capital Markets America Inc.
Deutsche Bank Securities Inc.
Goldman, Sachs & Co.
HSBC Securities (USA) Inc.
Jefferies & Company, Inc.
J.P. Morgan Securities LLC
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Mizuho Securities USA Inc.
Morgan Stanley & Co. LLC
Nomura Securities International, Inc.
RBC Capital Markets, LLC
RBS Securities Inc.
SG Americas Securities, LLC
UBS Securities LLC.
I thought this was just a conspiracy.
Rothschilds to Unite French, U.K. Banks to Secure Family Control
By Anne-Sylvaine Chassany - Apr 5, 2012 1:18 AM PT
The Rothschild family plans to merge its French and U.K. banking interests into one company to tighten control over the assets.
Rothschild & Cie Banque, the company that holds the French assets of the family such as the eponymous Paris-based mergers and acquisitions bank, and Rothschilds Continuation Holdings AG, which holds assets including London-based bank N.M. Rothschild & Sons Ltd., will be combined under French-traded company Paris Orleans et Cie. SA, it said in an e-mailed statement last night. Paris Orleans will change its legal structure into a limited partnership to give the family more control, it said.
They need more control?
“This will enable us to address the requirements of a globalized and competitive world while securing control of the family over the group,” David de Rothschild, who oversees the whole firm, said in the statement.
http://www.bloomberg.com/news/2012-04-05/rothschilds-to-unite-french-u-k...
You know that their secret is getting out if they are trying to hide the Red Shield name.
pods
AH-----Let's dig him up and shoot him again!
It's a system built to contain slaves in a pen, in that regard and in that regard alone.... it is quite successful.
Contract Law is being destroyed. We shall see how successful that is.
well written TIS, bringing up an example of your points from last November 10:
http://thinkprogress.org/economy/2011/11/10/366514/jefferson-county-bankruptcy-jp-morgan/?mobile=nc
Yesterday, Jefferson County, Alabama, filed the largest municipal bankruptcy in U.S. history, the final step in a sordid tale involving sewers, credit swaps, and some of the nation’s biggest banks. The bankruptcy became necessary “after an agreement among elected officials and investors to refinance $3.1 billion in sewer bondsfell apart.”
The swap deal that sunk Jefferson County was crafted by the mega-bank JP Morgan Chase (in concert with other banks, including Goldman Sachs). As Rolling Stone’s Matt Taibbi put it when describing JP Morgan’s actions in Jefferson County, “here you can see a trail that leads directly from a billion-dollar predatory swap deal cooked up at the highest levels of America’s biggest banks, across a vast fruited plain of bribes and felonies — ‘the price of doing business,’ as one JP Morgan banker says on tape.” And while Jefferson County was pushed over the cliff, JP Morgan has bounced back to record profits, and its municipal business has continued “unscathed.”
In a desperate attempt to avoid bankruptcy, Jefferson County furloughed employees and cut back on its police force so much that it no longer dispatched officers to traffic accidents. Of course, Jefferson County officials played their role in the fiasco, accepting bribes in connection with the deal. But JP Morgan was at the forefront, paying off officials, collecting tens of millions in fees, and foisting a risky deal onto the people of Jefferson County when there was no economic reason for it (other than to bolster the bank’s bottom line).
Adding insult to injury, House Financial Services Chairman Spencer Bachus (R-AL) — who represents Jefferson County — not only fought against passage of the Dodd-Frank financial reform law, but is still trying to slow down the regulation of derivatives like those that decimated his constituents’ community, leaving the door open for the same sort of toxic deal to take place again.
The journey of 10,000 squid deaths begins with a single bullet
not if Goldmans owns the gun (Courts)
in order for private litigation to take Goldmans down they need to file outside of New York or they'll be stitched-up a 2nd time
TD said "Do not, however, feel too bad for these two Muppets as Sutardja and Dia are not without controversy themselves. "
As Clint Eastwood said in "Unforgiven", "We've all got it comin' kid.........."
"Deserve's got nothing to do with it"
The problem here, and with so many things these days, is that it is out in the open. It's called stealing. Or cheating. Or changing the rules. Or just fucking doing what you want.
Just like our government. There is no Constitution if you pretend it doesn't exist, right? There is no fraud if you don't think so, right? Just do whatever it is you want and say, "hey, it seems like the right thing, man". And then walk away.
So WHAT ARE YOU GOING TO DO ABOUT IT?
This kind of thing used to end in duels.
When there is no justice, one must make their own justice?
From Mao's Little Red Book, Chapter 2:
Every Communist must grasp the truth: Political power grows out of the barrel of a gun.
Our Red King controls the biggest guns and can ignore every law he wants. Congress is inconvenient to him. Ditto the SCOTUS. As long as TPTB control the Red King, we are at their mercy. And they aren't very merciful to muppets, only to their own kind.
I am sure Obama will hire the guilty Goldman party by the end of the month to run his campaign!
you just have to...ahem...marvel at it.
I had a client who asked for advice on a standard representation agreement he received from Goldman. This was back in maybe 2004 or 2005. Anyway the contract was embarassing. It basically said Goldman had no fiduciary duties to any clients whatsoever could and would trade for the bank against clients using client assets, limited the jurisdiction for all claims to the circuit court in New York (can't remember the district) and basically said that if you enter into an agreement with the bank, the bank will screw you over and you have no recourse. That's was the sum and substance of the agreement. Anyway when I hear these stories I think to myself so what. Anyone dumb enough to sign that representation agreement deserves whatever they get. As the Russians are fond of saying, one rat devouers another and it serves them both well. Hopefully they were all members of the same ethnic minority. That would make it comical.
I hope more people read your comment to see what fuckers thes GS asshole are - my +1,000 up arrow to you sir.
Yep, I've seen their agreements, too- Goldman's only real "sales" job is getting inflated-ego clients to sign an agreement they would NEVER sign with any other concern.... These idiots are so hungry to be among Goldman's chosen ones that they sign away any real recourse- morons will only wind up spending money on their lawyers to watch this lawsuit go nowhere....
sombody said to me in conversation, satanist believe, " you deserve what you get".
Was wondering - what if the owners of the MRVL shares would have decided to 'short' the shares that GS leased at a strike closer to the money, (a strike 'above') than Goldman's short sell lessees' strikes were offered at?
And then what would have happened had the strikes of the MRVL share owners been exorcised before the price hit the lessees' strikes and the lessees had to exercise?
Insiders do that all the time - they cash out and the buy back shares when the stock trends up. (granted, the FED can print more dollars but don't think GS can print stock certificates - or maybe they can - it must be in the fine print).
What if MRVL had some magical technology that, when announced, "would change the world as we know it", and after GS's short sellers had exorcised their leased shares and the MRVL owners' of record had decided to sell their shares (that GS no longer had possession of)?
Got to see a rerun of the gress pretending to do their jobs. Remember, they nailed Martha Stewart for insid-ing 34,000$ but Cortizone, after stealing 1.2 Billion, is still taking his seat belt off to accommodate a blow job from his assistant while he drives to Atlantic City.
They had the CFO from MF Global (Mein Kampsteen or something like that). He was unable to recall - or fuzzy (he was scared shitless) regarding the legality of taking someone else's' money (btw he got a 100K bonus helping the SEC demonstrate just how useless it is). Another MF Bonerus biache compliance matter got a lett from the Morgue demanding MF Global sign 'unusual' assurances the 1.2 Billion transaction was not customer money.
The only thing Mein Kampsteen did remember is that funds could be 'borrowed', providing their were replaced by EOD. Unfortunate, indeed, that MF Global 'borrowed' their customer monies for the Morgue transaction the same day it went bankrupt.
The morgues Vampire `n Chief called Morque's request for assurances 'highly unusual' ... but the Morgue accepted the 1.2 Billion transfer before (and without) the assignments it requested from MF Global .. meaning the Morgue was in on the heist from the get go. THE MORGUE KNEW IT WAS A HEIST ALL ALONG!
Where most of us come from the paper has to be signed before the service/transaction is allowed - guessing they thought they'd be robo-signing the authorizations later.
The FSC, our gress doing business as usual, did not ask the Morgue's Vampire `n Chief a single f*cking question as to "why" the Morgue accepted the transfer without MF GLobal's signed assurances in hand! How typical is an understatement.
Is Goldman headquartered in Nigeria?
Someone sometime, with really deep pockets, is going to say f*ck the courts (all they do is protect the ponzi anywaze, right?) and start taking this sh*t personal. Easy to imagine that well heeled billionaires can afford revenge served best cold and still have something left over for the tip?
If it smells like RICO ... What's the line a DoJ intervention, on Goldman's behalf and veiled under a guise of justice, of course, followed by an out of court no fault gag order secret 'hand slap' settlement with the standard fine print disclaimer immunizing Goldman against future claims regarding this matter?
If it looks like RICO ... So .. hmmm .. 'married' executives of Marvell Technologies, the 'Marvels', hire Goldman's custodial and title transfer services, but GS did not authorize or give a GS power of attorney regarding their shares of MRVL ... right(?) .. just guessing the Marvel's have their team of modelers and analyst - and who that could afford would NOT PREFER their own investment team to the "sell muppets 'long' any paper our prop desk plans to short" white shoe gypsies' (no disrespect to burgundy shoe gypsies intended) pigging 'n a poke ponzi rut to to the nut `rounds running the game at GS client investment services?
If it tastes like a RICO ,, then at he same time GS advising the Marvel's to acquire a long turd of some NVDA shares that GS was dumping short of the strikes they advised the Marvels to position at .. .. which - predictably - never hit the money ... and ... when the Marvel's asked GS to use their MRVL shares as collateral to cover their loss on GS's NVDA advice, GS said "no" because, thanks to GS's unauthorized lease of the Marvels MRVL shares to short sellers who most likely sold their exercised MRVL share acquisitions back to the leaser, and custodian of the vary same MRVL Marvel shares .. to GS's hedge fund real cheap?
It must be RICO.
One of the daze someone is gonna go totally bi-polar on GS's ass.
In other news some talking head rebutted Dallas FED chair regarding his calls to break up the big banks. The dweeb-bot main stream economic gadfly argued that big banks provide 'liquidity' (and there are WMD's in Iraq) because the Primaries buy US debt. Lets see how that works ... DoT beleives it needs to en debt Americans just a little more .. the primaries buy the debt using money printed (counterfeited) by the FED and get a hefty margin on the transaction .. and the FED bills Americans for the counterfeit fiats used to by counterfeit debt from DoT and then the FED buys the debt the DoT sold to the primaries with the fiats counterfeited by the FED with more fiats counterfeited by the FED?
Keenes is throttling the Krugman where the sun don't shine like an Australian Ass Mamba in a rat hole!
the psychopathic barbarians are eating their own....poached muppet tastes yummy...
Ever try to skin a muppet before cooking? You're pulling out polyester hairs from your teeth for hours after the meal....
The key is to tickle them first
http://www.youtube.com/watch?v=GYGhmJD9LKc
Great, just because it happens to two rich swndling assholes it's OK? If the answer is "yes" you are part of the fucking problem.
Fraud IS fucking fraud, stealing is stealing......regardless. If not it will eventually affect you because YOU have already accepted it as being "OK" under whatever circumstances. I don't like these dicks any more than anyone else but this shit is just plain WRONG.
Get it?
Dude - I agree it is wrong but if you do business with Goldman - expect to be screwed.
PS - I love the Tyler's but the endless banners ads with Mrs. Hope & Change are a MEGA turn off.
So fucking what? Really, you and I cannot allow our values to erode just because some assholes got screwed by even bigger assholes. Think about it....we wouldn't have a value system worth shit with this kind of thinking. Don't let the system play you. That's how it is all perpetuated.
honor among theives?
Why ANYONE still does business with GS is a mystery to me. After all the shit they've done (that we know about), why would anyone trust these cocksuckers is beyond me.
They might be a turn off but I'll bet Tyler is raking in some pretty good cash. Every time you use Obama in a post then the web bots pick up on that and link the adds. If you don't want to see his picture don't talk about him.
What??
I could give a shit about the president. The problems are far more ingrained in our cultural thinking.
I realize the world revolves around you , but it wasn't your commentary that I was addressing.
Google "irony"
Here is help.
http://lmgtfy.com/?q=irony
You only have yourself to blame; something about your browsing behavior as stored in your cookies is sending info back to Google Adsense that you enjoy seeing Mrs. Obama's face.
Ads are also posted based on the content that's on the current page...my cookies are cleaned regularly and there is no mention of O'ShitWhat'dHeDoNow. It does appear on these pages. Also, tires, SugarDaddyD8ting, etc. You'll note that the ads appear last on page loads unless already cached...
I hate to deprive ZH of revenue, but the browser I use supports add-ins. One of them eliminates most advertising, so I get to read a pristine ZH. Sometimes it's good to be a geek.
I think it is good that this happens to rich people and it is about time too!
These people paid the senate to pass laws enabling them to rip off everyone with impunity and now, when the circle of fraud is perfected, they found out that there are bigger sharks in the water, that "everyone" does include themselves, not only the little people, as they intended.
The best is yet to come: Goldman, drunk on power and legal immunity, will eventually manage to rip off some rich clients with access to "hard power". It would be another level of poetic justice entirely when someone with those ressources sicks a heat-seeking missile on a GS corprat jet or a drone is dispatched a to clean out the excecutive floor.
Snakes eating their own tail.
What is the past participle of Corzine ?
Corzied?
Corzified?
Corzificated?
CorziPorn Cornificating.
Corzinerated.
Corzholed.
Corleoned.
Ouroborosed
'horzed
Well played, GS, well played indeed
birds of a feather
Turds of the Nether,
Swirl Together
so both sides were butf&cking each other....? sounds about right.
"We simply do not know where the borrowed shares are"
-Lloyd "Corzine" Blankfein
The great thing about this upcoming disaster is that we are all guilty. Some more than others. From lazy underclass to rapacious 1%. Everyone has done their bit. The greed has spread everywhere.
Another example: lottery winners have started to ripoff their betting syndicates.
Yes, we are all equally guilty.
But, some of us are much more equal than others.
You'll notice that I actually wrote that everyone is guilty to some extent, but not equally. Reading comprehension FTW.
And I know this is not a popular opinion here. I just have little sympathy for the masses continuing to play the ponzis in the hope of deflecting the inevitable losses on someone else. It doesn't matter whether it be real estate ponzi or stock ponzi or government pension ponzi or whatever.
If everyone pulled out their money and refused to play the ponzis they would immediately fail. But people continue to join the game because they hope to become rich off it too, like the last generation.
You're right. I find it hard to believe that somebody who has made minimum wage all their life is so greedy that she has to have all $105 mil and leave her coworkers in the same condition. But Karma can be a bitch sometimes, I'm sure we will hear about her in the future.
Yeah I know. And just recently there was a case where a guy was forced by the court to pay his betting syndicate after trying to hide the win and claiming it was a totally separate ticket.
Maybe this has been a regular occurence and I'm imagining some moral decline here, but I don't remember seeing cases like this in the past.
#we are told that two billionaire 'married' executives of Marvell Technologies - MRVL
billionaires and asking for advice??. well,, THERE IS NAME FOR THEM
SUCKERS SUCKERS SUCKERS SUCKERS SUCKERS SUCKERS
not regrets, if you are playing poker and dont see a patsy THEN YOU'ARE ONE
ALX
You're under the false assumption that wealth = intelligence. At work I interact with many high-networth individuals (not billionaires but yes 8-figure networths) and NONE of them would have any idea where to even BEGIN if they had to invest and manage their own money. They invest it with crooks like GS and as long as their monthly statements aren't too ugly, they don't really care what the banks do with it. The two individuals who got burned by GS were actually more involved in their money management than the typical 1%er.
I can assure you that as this crisis deepens, you'll see a lot more instances of wealthy individuals waking up one day to find that the money they "securely" put in "trust" at Goldman and other banks is "just gone"/vaporized/Corzined/rehypo'ed to infinity, etc. Pass the popcorn!
+ 1
An interesting observation. Rich dummies might wake up with nothing. Fortunately, you do not have to be all that smart to buy some (physical) gold.
While some truly did earn their money, and will likely hold onto it, the vast majority will not. The best book to describe the vast majority is "Fooled by Randomness". (Taleb) But that is life; just as lottery winners can't do it, neither can nouveau rich.
I think Balzac summed it up best:
"Behind every great fortune, there is a great crime."
Once dealt with someone who quarter after quarter wondered why his account was one million less than he thought, quarter after quarter had to remind him about the vacation home that he bought in Cabo. Mid 50's executive.
I think that's end game.
Final Frontier of Rich is Middle East.
Hence there is 'Occupy Saudi Border' through Arab Spring.
Look at countries surrounded by Saudi in conflict and Saudi i is left to lean on 'Global Police'
The smarts needed to run a semiconductor firm have little to do with trading. They should have recognized their own limits. I bet if they had restricted their plays to their market space or dropped that spare change into R&D they would have been much better off.
Prob acted on insider info from Nvda which was cocktail party BS
They deserve it. It was a sure thing! Right
Agreed, except Nvidia is also a tech firm, one of the two primary video card manufacturers. What they perhaps needed to avoid was the manipulation by GS. After all, Nvidia stock did, according to the writer, eventually double. Good call, bad methodology.
recapitalizing the banks by other means, not a crime.
there is no crime, look it up, get a lawyer to help, he will
explain, there are no financial crimes in america. it is an
impossibility. these financial houses are too hungry to
deny feeding on their clients , the taxpayer and future
taxpayers. it is systemically essential that they feed at
will on anything that is not already in their digestive tract.
it is a higher law that the commoner is unable to appreciate.
what is next? there must be a different atrocity somewhere to
command our attention.
it's 10 pm, do you know where your financial regulators are?
The "banks" in the U.S. are a Mafia.
Goldman Sachs, JP Morgan Chase, Citi, B of A, Wells Fargo = The Five Families
Ruled by Don Dimon and Underboss Blankfein.
The SEC? The SEC is the Consigliere, with a staff of mob lawyers on their payroll.
"do you know where your financial regulators are?"
Having dinner at Cipriani and cackling as they rake in money hand over fist, would be my guess.
At least the real Mafia can make a nice pie, a good sauce and a nice canoli.
Trust me, they ARE the real Mafia.
The street thugs are just the idiot cousins.
The smart ones moved up-market long ago.
Balls to the wall bitches,,,,,,,the carnivores eating their own is bullish.
There is a word for that ... Canni(Ball)sm is indeed bullish for other species.
the silver stake!! quickly, the silver stake!!! btw,that header is absolutely classic!
Two phrases come to mind.
In English: If you play with fire, you WILL get burned.
In Spanish: En fin, todos alacranes otro les ha de picar. [In the end, all scorpions get stung].
"Can't shake the devil's hand and say you're only kidding."
Wow, total thieves.
Goldman execs thirst for the bloodsport of ripping off their clients any way they can.
Dispicable.
It is called:
The Marvel of the Margin.
Maybe this is what the Giant Squid means when they say...
Or perhaps: If we serve our clients well done, our own success will follow. Munch, munch.
thanks to Internett blogs like ZH, we can marvel at the debauchery at hand
All frauds eventually collapse of their own weight. The day of reckoning draws ever nearer. When it arrives, there will be business that needs be tended to.
So you sign a piece of paper that allows for rehypotication and then complain. If you sign a piece of paper that says you allow the other party to screw you then guess what happens.
oooops! http://www.youtube.com/watch?v=xbiRzwfIet4&feature=player_detailpage
Each and every one of these episodes exposes the lie a little more.
Blankfein: (looks up at you with his sad, puppy dog eyes) Gee, mister - we didn't think we was a doin' anything wrong and stuff. We was just tryin' to do God's work is all. You didn't have ta go and get us in trouble and junk. Golly, we sure learned our lesson, and we promise never to commit multiple premeditated felonies again...
This was the best laugh that I've had all day. Corzined 8 times. There is a God!
They just got Octorzined, Even real muppets cannot get more than Pentorzined.
lol...that's so fucking funny but who cares...really. Just another mafia war of sorts.
One last thought before logging off this site tonight: I am a USA citizen. When Iran claimed that the USA is the big satan............I fully agree. Wall Street combined with DC is, without doubt, the asshole of Planet Earth.
I'd like to formally apologize to any other nationalities. Not everyone in the USA is a fucking idiot. Most of us are just common people, upset with the world and our present sate. We don't want war. Thing is the USA was bought and sold for a long time ago and we have no control what our supposed elected officials are doing.
Yes, we are just muppets truthfully. There's an elite agenda. We're not included in it. And neither are you.
As much as I hate to say it , I have to agree with your statement. It's really unbelievable to see what this nation is devolving into. My kids are in for a rough life I'm afraid.
Then fucking change it.
My kids know the differnce between right and wrong. It's that fucking simple.
Are you suggesting mine don't ? Get out there lead the way. Grab you AR and be the catalyst for change.
No, I'm saying YOU appear not to from your statement. And YOU used the word fear in regards to YOUR kids.
The gun is the last resort guy, not the first.
By the way you respond to people I question whether your kids truly know right from wrong.
I could give a shit about your questions regarding my children. Teach values.
BTW - respond to you or to the omnipresent "people"? My response was directed to your comments alone. Nice try, asshole.
You need to chill out, maybe join an anger management program. If your "values" are too attack people then I suggest that people with "values" like yours are a part of the problem.
A couple minutes after returning home from drinking late one night, my roomate opened the door to my room and shouted me awake: "Did you drink my beer?"
"No," I said. I'd been sleeping. "What the fuck?"
"I had a six-pack in the refrigerator. Now there's only two."
His gander was up. Thing is, we'd been real good friends for two or three years.
"Wasn't me," I sighed, laying back again. He stepped closer.
"I saw your friend Mike come in when I was leaving," he said. "You guys drank 'em, didn't you?"
"I said no, okay?"
Dude was six-four, 245. He came closer, freeing his hands from his pockets. He was really angry now.
"ARE YOU CALLING ME A LIAR?" he demanded.
I told him the conversation was over and to close my door on the way out. He simmered for a few seconds and then did that. The next day he mumbled a semi-apology, and I told him not to worry about it, it was forgotten. That didn't turn out to be true. I never trusted him much after that, and gradually let our friendship fall apart.
Since you're flustered about it to the point of irrational attacks, why don't you let us in on the secret as to how you "fucking change it"?
"Most of us are just common people, upset with the world and our present sate."
That's the only statement I have a problem with. Only a small minority are upset. The majority are fighting for their share of the loot provided by the financial hegemony as pittance for not rebelling.
I think a lot of people are hiding their feelings. The PC environment did have an impact. Or do you think it's a conspiracy? (sarc)
The United States' decline lies squarely with Wall Street and D.C. You may also lay blame with London's bankers, who get away with financial murder. Wasn't AIG's fraudulent financial products unit run out of London? I do recall Cassano made his home there.
By "Wall Street," I mean Wall Street investment banks and bullshit investment bankers, parasitic hedge funds and "money managers," and their accountants and lawyers. There still are some honorable companies whose shares are publicly traded. Companies that actually provide valuable services, make things, do things. But the list of reputable businesses grows thin.
We had a chance to put a bullet in Citigroup and Goldman during the 2008-2009 crisis, and we also could have bankrupted the scumbag AIG "special products" personnel. Alas, asshole Bernake, the discount window, and Maiden Lane robbed the world of this golden opportunity.
Yes its a big club and you ain't in it - George Carlin (RIP)
http://www.youtube.com/watch?v=i5dBZDSSky0
Blankfein and all the other senior bozos running GS should should be given a few years. at government expense. of residency in Attica where said persons of considerable wealth could enjoy love prison style. If this was done to a sizable population of WS banksters, the kind of theft and sleaziness would end without question and, while we at it, killing the Fed would also be a good idea, don't you think?
Attica? I was thinking more along the lines of Gitmo.
What's wrong with Forest Lawns...
...................Fuck Goldman Sachs.................................!!!
Are they related to Kama and Sutra?
Some law firm is going ot have a very Happy Chirstmas (or Hanukka) year end.
It's like watching a dog, who can't stop shamelessly licking his own pecker, over and over and over, like he was actually nurturing something.
I'm not sure the analogy applies, but it still made me laugh so I gave you a thumbs up.
Fuck Goldman.
Goldman would rape babies and kill puppies for money.
They would rape the puppies too.
but first they'd securitize them and sell puppy bonds which they'd secretly bet against using 40 to 1 leverage after writing a report recommending the puppy bonds as a terrific long term buy and hold.
then they'd rape the puppies and cook them and serve them at their annual meeting and they'd make slippers for all their vp's from the dead puppies' skins.
Then they collapse the puppy bond market and demand a government bailout which their ex ceo who is now secretary of the treasury, would get approved by congress in 7days.
Just doing God's work one raped dead skinned delicious puppy at a time.
Don't ask about the babies... you don't want to know.
"Puppy bonds."
Live by the sewer die by the sewer.
What's wrong with sewers? Without sewers we would have waste in the street. Sewers have a value to them. These slime have no value.
They're the slimy waste in the sewer, the man means.