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Old 04-26-2010, 06:05 AM
 
12,869 posts, read 13,677,843 times
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an excellent simple read on how goldman operates and how they do their damage:
Tully's Page: Goldman Sachs: A Fraudulent history repeats itself - The Legacy of Ashanti Gold

the whole story is fascinating with a small final excerpt here:

The destruction of Ashanti Gold by Goldman Sachs was saturated with fraud and conflicts of interest: Goldman Sachs served as Ashanti's Financial Advisors; profitted form the contracts they designed and marketed for Ashanti; was involved in the manipulation of the gold prices on which the contracts depended; represented Ashanti's creditors when the contracts went bad; and profitted as the Financial Advisors to the company that picked up the Ashanti corpse for pennies on the dollar.

The Bailout of Wall Street - little understood by many Americans, and supported grudgingly by members of both political parties who operated on only fractions of the full picture (not unlike the Iraq invasion) - has Goldman Sachs' legacy all over it.

Prosecution of Goldman Sachs and Regulation of the Financial Industry is not evidence of "Big Government," "Socialism," or more "Washington Take-over."

It is an appropriate - and overdue - safeguard against Fraud and Theft, which, the last time I looked, was not antithetical to the principles of liberals, moderates, conservatives, or libertarians.
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Old 04-26-2010, 11:45 AM
 
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Well, the TBTF theory is also part of the "too big to prosecute" theory. Those on the sidelines of investor ignorance have been reluctant to call out the dogs on these Wall Street gangsters simply because they fear the truth that may be forthcoming in any legal proceedings. That truth would include the present hyper fraudulent market metrics that have been wooing those who don't/can't see the darker side of allowing a manipulative cabal of shysters to carry on, as long as government is in the pocket of these criminals we'll all be subject to their games and Vegas style morality.
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Old 04-26-2010, 04:38 PM
 
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it looks like government is pretty far in the goldman pocket. i remember always being told that goldman was the market and now i understand just a little more.

there is so much going on in the underbelly of goldman and the government concerning the new global warming bill that they are trying to now jam through. glenn beck had a very good special today on that very subject, with the connections between government, goldman sachs, al gore, and the 10 trillion dollar (carbon) cap and trade market that is "coming". i suggest that everybody watch this special and also i will try and find it in the next couple of days to post it.

it was fascinating.

Last edited by floridasandy; 04-26-2010 at 05:09 PM..
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Old 04-26-2010, 04:38 PM
 
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Well look at the agencies congress oversights like the SEC. They are too politcally tied to congresses failure to fire anyone really.Watching porn while investors from pensions to madoff investors being robbed by a crook that never was even trading.
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Old 04-26-2010, 04:48 PM
 
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i have no doubt that the SEC has DELIBERATELY ignored all of the fraud because they had plenty of warnings, not just with madoff, but also with enron, tyco, worldcom, etc.

this coming swindle is going to be bigger than anything we have ever seen simply because it will be global.
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Old 04-26-2010, 10:43 PM
 
Location: Sacramento
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Don't forget the credit rating agencies too:

The SEC charges that, in trying to satisfy hedge fund manager (and client) John Paulson's desire to bet against the subprime mortgage market, Goldman created a doomed-to-fail synthetic collateralized-debt obligation that it then sold to other clients without informing them of its provenance. (Moody's and S&P, of course, gave the CDO a triple-A rating.)

Wall Street, Where (Some) Clients' Interests Come First - Justin Fox - Harvard Business Review


I still maintain that the process for obtaining credit package ratings needs to be revamped, and very soon (like yesterday). To me, this has contributed to the problems as much as anything.
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Old 04-27-2010, 05:03 AM
 
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i absolutely agree with that. it is similar to having a home inspector not report any damage to your potential future home after you have paid him money to evaluate it. i see that buffett is dumping his share of moody's and i have no doubt that as all of this unwinds the credit rating agencies are going to be a target by all investors who have lost money and the lawyers will be more than happy to jump on it.

i am still trying to find a good clip on the goldman chicago climate exchange show that glenn beck had yesterday. if anyone finds it perhaps they could post it. it showed the connections between the chicago climate exchange, gensler, al gore, international companies, and goldman sachs. that is quite a racket they are setting up there....
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Old 04-27-2010, 04:34 PM
 
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here is some of it:

YouTube - Glenn Beck-CCX part1

some of the players:

• William C. Dudley, president of the Federal Reserve Bank of New York; was a partner and managing director at Goldman
• Gary Gensler, chairman of the Commodity Futures Trading Commission; spent 18 years at Goldman
• Mark Patterson, chief of staff to Tim Geithner; former Goldman lobbyist
• Philip Murphy; nominated for ambassador to Germany; former Goldman executive
• Diana Farrell; deputy director of the National Economic Council; formerly with Goldman
• Emil Michael; White House fellow; former investment banker with Goldman

collusion between Barrack Obama, George Soros, Al Gore, Goldman Sachs, Franklin Raines (super crooked Fannie Mae head), CCX, and Generation Investment Management (GIM-London based co-founded by AL Gore).

Know the crooks and their roles:
George Soros, Joyce Foundation, and connection to CCX-(North America's only cap and trade system).

What is CCX, the Chicago Climate Exchange, projected to gross 10 Trillion a year is Cap-N-Tax passes. Obama played a pivotal role in the formation of the CCX. (Click here for expose)

Barrack Obama, Board Member of the Joyce Foundation, funded the formation of the CCX. (Valerie Jarrett is still on the board, Obama’s top adviser.) Obama sat on board and funneled money to William Ayer’s brother to form the CCX.

AL Gore--Goldman Sachs-- GIM: London-based Generation Investment Management sees the Trillion and they purchased a huge stake in Chicago Climate Exchange (fifth largest shareholder.) The founder of GIM is none other than former Vice President Al Gore along with Goldman people. For example other founders are David Blood (former Goldman executive), Mark Ferguson (Goldman) and Peter Harris (Goldman) to name a few.

Franklin Raines, mega crooked banker and bust Fannie Mae head, uses Fannie Mae (taxpayers money) to buy the technology to measure and manage carbon. The patent was award the day after Obama won the election.

Goldman Sachs owns ten percent of the CCX and its 10 Trillion a year potential. (CCX is 10% owned by Goldman Sachs (GS) and 10% owned by Generation Investment Management (GIM).) Gore, Goldman, and Cap and Trade.
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