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News Blankfein Hires Prominent Defense Attorney Send GS Stock Tumbling, Gold Futures Soaring Over $1900
For a perfect ending to a schizophrenic day we go to Reuters which has just reported that Goldman's CEO has hired high profile defense attorney Reid Weingarten. The market is not waiting to find out the details, and GS stock is tumbling. What has alos happened is that gold futures punched through $1900 for the first time ever. $2000 is the next target, and will likely be taken out within the week.
GS stock:
And gold:
From Reuters:
Goldman Sachs Chief Executive Lloyd Blankfein has hired Reid Weingarten, a high-profile Washington defense attorney whose past clients include a former Enron accounting officer, according to a government source familiar with the matter.
Blankfein, 56, is in his sixth year at the helm of the largest U.S. investment bank, which has spent two years dodging accusations of conflicts of interest and fraud.
The move to retain Weingarten comes as investigations of Goldman and its role in the 2007-2009 financial crisis continue.
"Why do you bring in someone like that?" said the source, who was not authorized to speak publicly. "It says one thing: that they're taking it seriously."
Blankfein has not been charged in any civil or criminal case, and it was not immediately clear why he hired Weingarten.
David Wells, a spokesman for Goldman, declined to comment.
Weingarten did not respond to requests for comment.
Something big is about to hit the tape, and this time Goldman won't be able to put the whole blame on a twenty-year old Frenchman.
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Maybe he should hire his ex VP...
http://www.truth-out.org/goldman-sachs-vp-changed-his-name-now-advances-...
Goldman Sachs VP Changed Name, Now a Top Congressional StafferThinkProgress has found that a Goldman Sachs vice president changed his name, then quietly went to work for Issa to coordinate his effort to thwart regulations that affect Goldman Sachs’ bottom line....In a few short years, Haller went from being in charge of dealing with regulators for Goldman Sachs to working for Congress in a position where he made official demands from regulators overseeing his old firm.
lolmao500
*****
Great find, deserves a look at by TD
http://www.bloomberg.com/news/2009-12-03/arming-goldman-sachs-with-pistols-alice-schroeder-correct-.html
Lead, bitchez.
http://johngaltfla.com/wordpress/wp-content/uploads/2011/08/DONTPUTHESOA...
Don't forget two-face bernoccio. When he's not out printing money, he puts on fake eyebrows, changes his name to "Farmacist" and drives HP into bankruptcy.
+1913.
Gold's new high # (coincidentally the year of the Fed's inception). F U FED! Are you not entertained?!
http://www.youtube.com/watch?v=FsqJFIJ5lLs
To Lloyd and every other bankster out there "doing God's work", JUMP YOU FUCKERS!!!
http://www.youtube.com/watch?v=yge311sFhC8
This is first time i visit this post. I collected so many interesting things from your site. From the tons of comments on your posts, I guess I am not the only one having all the enjoyment here. Keep up the good work.
thermage Sydney
Lloyd and Goldman Sachs are going to need an army of defense attorneys, as one thing leads to another. White collar criminals are easy to sqeeze, to spill the beans. Prosecutors love the song "One Thing Leads to Another" by the aptly titled band The Fixx.
The impression that you sell
Passes in and out like a scent...
You've seen your name on the walls
And when one little bump leads to shock miss a beat
You run for cover and there's heat, why don't they:
Do what they say, say what they mean
One thing leads to another
You told me something wrong, I know I listen too long
But then one thing leads to another
One thing leads to another
http://www.youtube.com/watch?v=pIe-Cj071l0
OId news - without the name change angle, its business as usual - basic hand-holding job making sure the Congressman crosses the T's and doesn't appear too clueless when presenting the pro GS legislation. I covered it last time it was mentioned here (last week some time) - rumour is that the guy was 'let go' from GS [one presumes not sharp enough]. Bio is econ Gov > GS lowtime > Gov aid. Hardly unusual for the revolving doors.
Hmm, what? You're shocked when a paid for Congressman puts in pro-business (donators) legislation?
ALEC isn't. http://www.alecexposed.org/wiki/ALEC_Exposed
Nor is the Chamber of Commerce.
A - B - C - A - I - D - A
http://www.youtube.com/watch?v=y-AXTx4PcKI
Goldman and squid man must have been slow in their Obama 2012 donations. Pony up the cash or Holder and the DOJ will visit.
+1 to Tyler for the find.
Just O Bummah's boy ...
It's all in "The Family", it's All Good ...
Now lets have another $3 Trillion PLAY MONEY for the Wall Street Biggies ...
"truthout and ThinkProgress" = LOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOL
Is the article wrong? I read it a couple of days ago. I figured it was true... it pretty much matches what I view as the revolving door between regulator and the industry over which the regulator is to regulate. But if it the article is false, I would like to know.
Finally confirmed on CNBC - so you know it must be true because if not - they would sweep it as far under the rug as they could. According to CNBC - this has something to do with possible obstruction of justice charges in his testamony before the Congress last year. Needless to say - this could be just the first shoe to drop and could be - well -- BIG!
No, the article is right, I believe. The publications have a 'filter' - that's what's funny when I see the stuff quoted here. The post by EB in the guest section detailed a Roach Motel of folks that stole hundreds of millions from tax payers, yet, that won't be a spotlight for Maya Schenwar or her 'followers' because it isn't truth worth searching for....
omg! you got 5 junxz! a racoon, too! the trolls are out tonite, sophi_(a)micus!
peace, love, and manure spreaderz to ya!
Let him have God defend him - after all, he's just "doing God's work", right? God must be pleased with his "work".
He tried but God had a conflict
So he hired the Patron Saint of quality footwear
He's also going to need local counsel.
Could this be a case of Squid pro quo......??
Certainly smells fishy
Does this mean Bernie might be his Butt Buddy. It just might have a different smell.
Too bad his mother's maiden name wasn't Goldman :-) LMAO
The spicier version is here:
http://exiledonline.com/war-nerd-dc-update-transylvania-goes-to-dc-and-lies-its-head-off/
Hey Tyler - NY Post is saying Blankfein might be connected to Raj Raj's freind the other Rajat Gupta on GS board. Gupta supposedly in singing a lot of tunes to the Feds.
http://www.nypost.com/p/news/business/why_lloyd_hired_criminal_defense_f8MLntuQ164unriOU0Aq1L
I am not pimping for the Post but that is a weird connection.
Ideally, GS shuts down first then BAC.
So that leaves JPM to clean up the fragments of value? That's not working for me.
Au & Ag
That's all I have to say about JPM.
nope, me neither, but i have been advised to accept the things that i cannot change and that i ain't shit, rilly...if i'm honest with myself, ...every decade...or so...m/l...
For everything else, there's Shitibank.
Doing God's work has its rewards.
but europe was higher today and lybia was liberated
uncle ben is going to stimulate the economy
how could goldman possibly be down?
.....labia was liberated?
But did they get the C.L.I.T.?
http://www.youtube.com/watch?v=NCatFyP9tKo
You're such a cunning linguist.
And a master debater
No, stimulated.
Well:
First Kadafi falls so they can steal his Gold.
Now Blankfein falls from Goldman S.
Coincidence? I THINK NOT!!!
Looks like Hugo's gonna get his gold and the LBMA will be safe after all...
Seriously:
Goldman S. has been pushing their clients to buy Gold for years. I wouldn't be surprised if those clients are starting to ask for delivery and that this might be causing a problem for them. It's not the first time banks have been holding gold for clients that turned out not to be in the vaults.
Goldman might have been doing the same and using the money for other investments. And now these clients ask delivery they can't afford it anymore to buy it on the open market for their clients.
I'm just looking for some kind of reason why gold is booming like this these last few weeks and this could be one.
Wouldn't that be the joke of the day :)
I would be thrilled if JPM would also make a notice this or next week!
Gold is rallying because;
The Nash Equilibrium has been broken.
Repairs cannot be made within the constraints of the current dominant party offering a Null Solution Set.
The Internet Reformation has rendered the classic Benaysian Perceptions Management process ineffective.
The Hegelian Dialect worked until it doesn't anymore.
The peasantry distains encroachments upon liberties and has come resistant to the New Versailles.
Substitute "Are we there yet?" with "We've arrived!"
"When the shit hits the fan." has transmuted into "Stand back; it's splattering large."
Nothing works, all's broke, civility's died and confidence is extinct.
Welcome to the New World Order.
+1
If Goldman is supposed to have gold that clients want delivered then no amount of spinning will save them. My guess is Obama confiscates gold before GS goes down.
There should be gallows set up at Broad & Wall Street and also in DC.
Hugo Chavez is a POS but I think he is calling their bluff.
also seriously:
where did the moQ fall? not face down in your lap, i hope, my dear & respected friend! MSM too much for you, today?
it's a bloodbath till they get him! who could have known?
how cld anyone have known the s.o.b. is just real enuf to face death like the mighty bedouin warrior chief he has had such fun pretending to be? ...for the past 42 years...latest "reports" have him "hanging by a thread" which is, actually, pretty fuking funny if ya think about it
what a fun way to protect innocent civilians! (and make warbux, too!) a nice destroyed modern & solvent nation, 10,000 (m/l) ordinance drops on "military" targets, murder, mayhem, us drones clones, and now, a bloodbath, too!
go ahead! make slewie's day!
re lloyd (and perhaps not rilly related to libya & their gold (!)): now that the goobermint is going after the ratings agencies, for real, 1) how "safe" doya think the blankster is? 2) do ya rilly think prez0 called buffett (owner of "moody's" for "advice"? L0L!!! 3) wanna buy a bridge or hey! howZabout this: sum nice, upwardly mobile, paper gold?
what if the prez0 rilly does want to be re-elected? maybe a little "justice" might help, or hasn't this strategy been published, yet, except, here, and ...now...
BiCheZ!
or are you, too, convinced that "superman" has brought us back to 2008 by "reverse spin"?
Sushi: It's what's for dinner!
This is all bullish too.
http://www.marketwatch.com/story/mortgage-delinquency-rate-rises-to-844-...
Mortgage delinquency rate rises to 8.44%: MBA
Mortgage delinquencies rose in the second quarter, a development that reflects the deterioration of the job market, the Mortgage Bankers Association's chief economist said on Monday. In the second quarter, the delinquency rate for mortgages on one-to-four unit residential properties reached a seasonally adjusted 8.44%, up from 8.32% in the first quarter, yet still down from 9.85% when compared with the second quarter of 2010, according to the MBA's quarterly delinquency report.
Better rush out and buy some AAPL - looks like more money to spend on I Pads and other gadgets.
Yes, bullish!
Amerikranski and The unEconomicEuropeanUnion are both going to thrive as people sleep in their cars (about to be featured on Repo Games), eating iPad3 (Ramen Noodle Flavored), while President Hector Camacho (Obama) promises that he's going to sprinkle more cheddar on the inner cities & Brawndo on the green sharts (as The Bernank stockpiles anything of value for the meeters, greeters and beaters of Wall Street), Japan goes into a cosmic bunny hole repression [Japanese Housewives start stockpiling BOJ bonds like they're gold] and Chinese people wake up to the reality that gasoline and diesel are more than 78 cents a gallon when PBOC stops subsidizing basic necessities when it has to perform emergency surgery to stem the bleeding from the open jugular that is the toxic/decaying loans handed out by completely corrupt regional and local banks to anyone.
HAHAHAHAH! maybe he raped the maid - ?
those rich white guys all look the same.
Geez Infinity, Don't you know nuthin? Read Taibbi? This Blanfein dude didn't rape the maid - he raped us all, each and every one. By hiring this junkyard dog, we know that Lloyd't a-hole is currently in the puckerin mode. We can only hope that it'll soon be bleedin.
HA HA again. Blankfein will "get off" most likely - I'm over Hope.
and the NY DAs are recommending dropping all charges against DSK...free man
DSK walked, and so will Lloyd. Kosher Mafia Rules.
Get back into your bunker, Adolf.
huh? These guys are jews, not whites
Which ones are worse, habibi?
Blankfein must be desperate. I hear that Weingarten's fee is an ounce of gold per hour...............................
that's ok being that he'll be paid in GLD shares.
You can't Jew a Jew. Weingarten will demand physical.........
That's barbarous.
Got relics?
Nobody else seemed to get that.
So I gave you a green.
The overwhelming vast majority of this audience silently got it ... so I gave you a red. The universe is balanced again.
(Oh, am I going to pay for this one.)
Jesus wept.
It wouldn't hurt to give the man a Green.
Everyone here cannot be so far up there own arese that they can't afford a Green.
OK fine a little green. Good thing gold doesn't come off well as a screen color, there are limits to one's generosity. My foray into central planning goes about as expected.
BTW, that wasn't me who junked you the second time ... I was framed!
Let's be clear here.
We've all been framed.
By lies.
Empire this. Empire that.
It's all shit and nonsense.
It doesn't exist.
You do.
They know it.
You don't.
I smell a ZH t-shirt / donation campaign.
Paging Mr. Banzai...Mr. William Banzai...
Is Warren still holding that GS paper?
No. Unka Warren is one of da boyz.
.....explains why Obuma is talking to Warren.......
Yes sir. Yes sir. I uh.... Yes sir. But I.... Yes sir. Understood. Yes sir. Uh...
(dial tone)
Lord Blankman is going to be offered to the dumbass masses for doing "Gods Work"?
well that will fix everything!
1 Zionist in Jail will recap the whole World!
i will believe this means anything when he and the rest of them are behind bars.
Unfortunately, the only bars they will be behind are gold and silver ones......in some remote part of the world.
Nice and Nice.
where there is smoke there is usually fire...
GS and Blankfein?
Burn you fuckers...
I hope he truly gets what he deserves. I'm cynical, but never give up hoping for justice for all, especially for the Oligarchs.
This post is horny, thanks Tyler.
Timberrrrrrrrrrr!
Black Monday indeed.
BlackFeign that is.
Vivek (ORI)
http://aadivahan.wordpress.com
Couldn't have happened to a nicer guy.
The question is not whether Goldman knowingly committed Fraud.
The question is, were they uncharacteristically sloppy?
I'll bet Lloyd wishes email was never invented.
No. That is not a question.
See the problem is that the fraud was never dealt with. It was only papered over for a few years with tax-payer money. A fraudulent business model doesn't turn into a prince at midnight. And neither did any of the financial institutions that made fraud their business model. They're still out there, but no one is talking about them. And they'll eventually fail despite the craptastic attempts by the Federal Reserve. It's just a time bomb waiting to go off. Much like the European bank insolvency problem that is also going to explode in the near term.
Timmy must have given his old buddy a heads up.
One can only hope that this asshole is next.
GS down $5.25 today and another $1.50 after hours.
DID ANYBODY ORDER ROOMSERVICE?!
Maid Service?
+1
DSK is cleared, free...charges will be dropped
not sure where the blankfein deal is heading but it takes a while sometimes for the wheels of justice to get rolling. that's the case with financial fraud in the usa, of course. eventually heads will roll as the depression deepens and widens. somebody has to get the blame, and blankfein is the poster boy.
Finnaly the cattle will be pleased and no more question will be asked, and all other Kleptomans can walk free , the lions have been fed.
Finaly the cattle is pleased and no more question will be asked, and all other Kleptomans can walk free , the lions have been fed.
Oi vey! Poor Lloyd!
what i'd like to know is how the fuck GS is trading at anything more than $0.666? Oh yeah it's called rigged financial fuckery courtesy of Bernank, et. al
Fuck me!
Matt Taibbi Helped a little bringing some of this to the public's eye.
Matt Taibbi went from rating Moscow bars with "fuckies" (the more the merrier, of course) to writing populist articles for the Rolling Stone. What a fucking intellectual.
Not defending GS by any measure. Matt is a douchebag, nevertheless.
-1
How does writing about Wall St fraud make him a "douchebag"?
That was not the statement made. Lots of things make Matt a douchebag, both personally and professionally. Try reading one of his crappy books.
I read "Spanking the Donkey" and it was pretty good. It exposes the presidential candidates and the campaign trail racket.
You should read "Spanking the Monkey". It is even better.
I wrote it.
Matt had some nice articles, but after hearing him say he would still vote for Obama instead of Ron Paul (about 6 months ago) , I don't know if I can trust anything the douchebag says. The bottom line is that if you still support Obama (or Rick Perry for that matter) you have got to be pretty damn stupid.
Did that NYFED spokesman say that you only need to prosecute when you do something indefensible?
"Honest officer, I was only trying to help that sheep over the fence."
pods
when my dork got stuck in it by accident.
Bankers are polishing brass on the Titanic, bitchez!!!!!
The real bankers are building helicopters on the Titanic. Blankfein is a pawn.
The window of opportunity for getting physical at reasonable prices is closing. Keep an eye on Gold Shark. The premiums on krugerrand gold coins have almost doubled in the last two weeks!
Looks like our boy Lloyd is getting ready to be thrown under the train by his employers. Makes a perfect scapegoat.
All GS employees to gitmo.............NOW
always hire the joo lawyer...
Claus von Bulow
A squid has many tentacles. Cut one and ten others appear. Never underestimate the enemy.
GS not traded this low since early 2009.
You can't put God in prison!!! Seriously, WTF?!?
Schadenfraude for everybody!!!
Wheeeee Blankenstein is going down, wheeeee GS going down, wheeee BAC going down.....wheeeee EU going down...wheeeeee, Oblamea going down, wheeeee the US going...?????
Schadenfraude has nothing to do with it, I'd like to think. People who want to see systemic change are cheering the destruction of the system's elements. The worst thing that can happen is for stagnation and slow rot to take over.
When did you realise that you were full of shit?
I'm glad my comments are eliciting reaction from the goat fornicator readership. If something specific bothers you, don't be afraid to speak up.
I doubt that you have anything specific to say.
But do carry on old chap.
The Algos bought the market up to 11,300+/- at the open...
close was 10,800..
More Tax Dollars thrown in the money pit!
Buy the Market up.. Buy Gold + Silver Down.. 3am bullshit crew burning threw the ceiling cap! LOL!!
http://www.youtube.com/watch?v=JnX-D4kkPOQ
Gods Work has GREAT Bonuses!!
How can a neofeudalist charge another neofeudalist?
if we arrest him and hang him , we are doing God's work , doncha know...
It's transitory.
gonads and strife
calamari, bitchez.
Someone's been reading Taibbi
Where is news of Harry Markopolos' [he fingered Madoff] newest investigation of BankOfNewYorkMellon /StateSt scamming pension funds, etc , with suits expected by ALL 50 STATES?
http://finance.yahoo.com/blogs/daily-ticker/madoff-whistleblower-big-banks-ripping-off-pension-funds-152836936.html
Nice find. Another one handed to them on a platter, lets see what they do with it.
[T]hrough his writings on "competitive strategy" S&P CEO Sharma considers the United States the PROBLEM in today's world, operating with what he implies is an unfair and reckless advantage. The brutal reality is that for "globalization" to succeed the United States must be torn asunder ...
http://www.truth-out.org/standard-poors-and-bilderbergers-all-part-plan/1313765245
Did Blankfein lie during congressional testimony about those 'shitty investments"??
Maybe Obama needs to hang a banker to get his street cred back before 2012.
Hypothetically?
He lied about not needing or borrowing any money from the fed except what he was forced to. Don't see why that would upset anyone, it's not like he lied about taking perfomance enhancing drugs to give his fast ball a little more pop or any thing important like that.
My German is not good but.
A translation of Blankfine is ...
Blank (empty) fine(good).
Emptygood.
Although doing "gots werk" maybe it should be ...
Empty (of) God.
"Blank" means bright or shiny, you lazy nitwit. Another half-assed attempt at humor, I suppose.
So that would be Shiny God then.
Then get your "Blank"-box, bitch.
"llwyd refers to the brown waters of a river in flood"
I'm tickled pink!
heres an idea.....lets tie him to a pole in govt housing area in central philadelphia and take bets to see what happens :)
Shove hunits up hizass first then sell tickets.
Blenkfein go fuck yourself!
Hard Times bitchezz........even for god's little beaver.
I hope that if the squid gets got they can go back and get Paulson too.
obummer is even turning on his own kind right now! talk about desparation to get elected
Listen carefully ... can you hear it... 'Tchaikovsky's Overture 1812' ... Ahh the amazing sounds of the canons...
It's fucking beautiful!
Can't you just picture Lloyd bent over with a ball-gag while getting reamed ala Ving Rhames in Pulp Fiction?
Pure bliss . . .
New Logo for Goldman Sachs http://fiveup.com.au/request/tell-me-why-goldman-s-ceo-blankfein-hired-a-high-profile-defense-attorney-reid-weingarten
Blankfein ought to get sentenced to a half-life. Which is life in prison if just half the things they say are true.
If there is anybody in Europe who hates GS for setting them up by cooking the books for Greece and Ireland, then this could be banker bitch fight karma. On the other hand, I hope it is a House Banking Committee investigation.
On the bright side for Blankfein, bankers doing God-like productions seem to have superpowers. DSK just skipped away from the rest of his rape problem thingies today as the Euro rape problem is being pushed under the rug -- "Can't touch this".