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Simon Johnson: Goldman Is About To Be Blacklisted And Possibly Banned In Europe
http://www.businessinsider.com/simon-johnson-goldman-is-about-to-be-blacklisted-and-possibly-banned-in-europe-2010-2 ^

Posted on 02/15/2010 2:50:09 PM PST by blam

Simon Johnson: Goldman Is About To Be Blacklisted And Possibly Banned In Europe

Joe Weisenthal
Feb. 15, 2010, 6:45 AM

MIT professor Simon Johnson raises some provocative scenarios in regards to Goldman's participation in Greece's scheme to obfuscate its debt levels.

In particular, he expects a full audit of the company, and perhaps some kind of ban:

If the Federal Reserve were an effective supervisor, it would have the political will sufficient to determine that Goldman Sachs has not been acting in accordance with its banking license. But any meaningful action from this direction seems unlikely.

Instead, Goldman will probably be blacklisted from working with eurozone governments for the foreseeable future; as was the case with Salomon Brothers 20 years ago, Goldman may be on its way to be banned from some government securities markets altogether.
If it is to be allowed back into this arena, it will have to address the inherent conflicts of interest between advising a government on how to put (deceptive levels of) lipstick on a pig and cajoling investors into buying livestock at inflated prices.

[snip]

(Excerpt) Read more at businessinsider.com ...


TOPICS: News/Current Events
KEYWORDS: bubblemafia; eu; euro; europe; eurozone; goldman; goldmansachs; greece; pigs; wallstreet; wallstreetcrooks
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1 posted on 02/15/2010 2:50:09 PM PST by blam
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To: blam
"Goldman will probably be blacklisted from working with eurozone governments"...

Goldman Sachs is a criminal enterprise... but one of Obama's favorites....

2 posted on 02/15/2010 2:53:19 PM PST by Sleeping Freeper
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To: blam

They Greeced the wrong palms!


3 posted on 02/15/2010 2:53:51 PM PST by HiTech RedNeck (I am in America but not of America (per bible: am in the world but not of it))
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To: blam

I suppose I’m really reaching, but this seems momentous. It reminds me of the bankruptcy of Lehman Brothers. A sign that a great financial power was, in fact, rotten and hollow.


4 posted on 02/15/2010 2:54:38 PM PST by ClearCase_guy (I was born in America, but now I live in Declinistan.)
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To: Sleeping Freeper

Wolfram and hart.


5 posted on 02/15/2010 2:54:50 PM PST by gussiefinknottle (woof!woof!woof!)
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To: blam

That will have knock on effects in every arena if that happens.


6 posted on 02/15/2010 2:55:45 PM PST by sunmars
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To: blam

I would love to see Goldman Sachs go under and all the management put in chains for life.


7 posted on 02/15/2010 2:56:30 PM PST by ConservativeMind (Hypocrisy: "Animal rightists" who eat meat & pen up pets while accusing hog farmers of cruelty.)
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To: gussiefinknottle

hehe, I loved watching Angel but probably you are not far off the mark.


8 posted on 02/15/2010 2:56:48 PM PST by sunmars
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To: FromLori; onyx; CondoleezzaProtege; sonofstrangelove; Las Vegas Ron; JustPiper; ...

o.m.g. *ping*


9 posted on 02/15/2010 3:00:53 PM PST by hennie pennie
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To: HiTech RedNeck

Or they palmed the wrong Greece!


10 posted on 02/15/2010 3:03:53 PM PST by 9YearLurker
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To: blam; TigerLikesRooster; dennisw; FromLori; rabscuttle385; ex-Texan
"The logic of the conspiracy theorists in this regard is, of course, impeccable: Goldman alumnus Josh Bolten runs the White House, while his former boss, Hank Paulson, runs the Treasury. They both speak regularly to former Treasury Secretary Bob Rubin, now over at Citigroup, who ran Goldman before Paulson and who keeps Paulson and Bolton dangling like puppets on a string. They all supposedly touch base with the heads of the Italian and Canadian central banks—both Goldman alumni—and with Robert Zoellick, head of the World Bank, ex Goldman. What's more Paulson is now getting his advice on how to handle the crisis from Ken Wilson, the recently retired Goldman partner and financial-institutions M&A banker, who Paulson just recruited to Washington to help him out. Already at Treasury were Goldman alumni Dan Jester, Anthony Ryan, David Nason and Bob Hoyt, the department's general counsel. And—the conspiracy crowd can't help but point out—Neel Kashkari, 35, a former vice-president at Goldman who Paulson recruited as assistant secretary of international affairs in 2006, has just been appointed—by Paulson—to run, on an interim basis, the new $700 billion bailout fund."

~~William Cohan, "Does Goldman Sachs Really Rule the World?" October 2008

11 posted on 02/15/2010 3:04:38 PM PST by Travis McGee (----www.EnemiesForeignAndDomestic.com----)
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To: blam

Hey, I predicted this on FR today! Another one I got right. Just wait until the “Operation Albatross” story I broke comes true.

parsy, the clearvoyeur, or whatever that word is


12 posted on 02/15/2010 3:05:36 PM PST by parsifal (Abatis: Rubbish in front of a fort, to prevent the rubbish outside from molesting the rubbish inside)
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To: HiTech RedNeck

Mega OUCH!

parsy, the envious


13 posted on 02/15/2010 3:06:20 PM PST by parsifal (Abatis: Rubbish in front of a fort, to prevent the rubbish outside from molesting the rubbish inside)
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To: Travis McGee

Robert Zoellick (Ex-Goldman) has been pimping free trade for decades. The scum of the earth on Wall Street have been pimping free trade for decades because they make big money off all the money flows and de-industrialization of America. They moved America to a degenerate and faggy WalMart economy of consumers because there was more money in it

The same Wall Street scum who crashed our financial system with derivatives have been killing off American production and industry for years because they made money doing it. If it was up to me they would be marched to the gallows


14 posted on 02/15/2010 3:17:50 PM PST by dennisw (It all comes 'round again --Fairport)
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To: hennie pennie

Goldman Sachs doesn’t own the EU, like they own Obama.


15 posted on 02/15/2010 3:19:21 PM PST by stephenjohnbanker (Support our troops, and vote out the RINOS)
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To: dennisw

They may yet be, if we can extradite them from the countries they own.


16 posted on 02/15/2010 3:20:19 PM PST by Travis McGee (----www.EnemiesForeignAndDomestic.com----)
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To: parsifal

Have you got a link to that Operation Albatross story?


17 posted on 02/15/2010 3:21:46 PM PST by Lurkina.n.Learnin (Waste and fraud are synonymous with gov't spending)
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To: stephenjohnbanker

Really? It was my impression that Goldman Sachs owns everything and everybody!!


18 posted on 02/15/2010 3:24:19 PM PST by hennie pennie
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To: hennie pennie

“Really? It was my impression that Goldman Sachs owns everything and everybody!!”

Not just yet ;-)


19 posted on 02/15/2010 3:25:39 PM PST by stephenjohnbanker (Support our troops, and vote out the RINOS)
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To: ConservativeMind

“I would love to see Goldman Sachs go under and all the management put in chains for life.”

Could not happen to a more deserving den of thieves!


20 posted on 02/15/2010 3:26:41 PM PST by flash2368
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To: dennisw

“The same Wall Street scum who crashed our financial system with derivatives have been killing off American production and industry for years because they made money doing it. If it was up to me they would be marched to the gallows”

The Obama administration will protect Goldman over here, but Goldman has made many enemies overseas.


21 posted on 02/15/2010 3:28:19 PM PST by stephenjohnbanker (Support our troops, and vote out the RINOS)
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To: stephenjohnbanker

Oh, Oh, it really SACHS to have your ANUS GREECED!


22 posted on 02/15/2010 3:28:45 PM PST by outhousepatrol
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To: Lurkina.n.Learnin

Thank you for asking. Everybody thinks I’m crazy.

http://www.freerepublic.com/focus/f-bloggers/2446043/posts

parsy, who broke this story


23 posted on 02/15/2010 3:29:10 PM PST by parsifal (Abatis: Rubbish in front of a fort, to prevent the rubbish outside from molesting the rubbish inside)
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To: outhousepatrol

ROTFLOL!


24 posted on 02/15/2010 3:30:09 PM PST by stephenjohnbanker (Support our troops, and vote out the RINOS)
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To: blam

Please let it be so. See tagline.


25 posted on 02/15/2010 3:31:18 PM PST by PermaRag (the stock market will stop bleeding when those who manipulate it START bleeding)
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To: Sleeping Freeper

You are so right about Goldman being criminal. Most Wall street firms gradually shifted from hyper-aggressive capitalists to crony capitalists to organized crime operating under the legal radar.


26 posted on 02/15/2010 3:32:21 PM PST by WashingtonSource
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To: Travis McGee
Goldman Sachs is a lot like a 20 dollar whore but Goldman does not have the standards, integrity, morality, and the good business sense of the whore. It also costs a hell of lot more to use the services of Goldman.

However, both leave you with the same feeling but only one of the business entities delivers what you negotiated for. Might I pose this question to be pondered, which of the two is more ethical in their business standards?

27 posted on 02/15/2010 3:32:21 PM PST by cpdiii (Oil Field Trash, Geologist, Pilot, Pharmacist. THE CONSTITUTION IS WORTH DYING FOR)
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To: hennie pennie

Let’s hope for a “trickle up” effect.

Thanks for the ping.


28 posted on 02/15/2010 3:33:12 PM PST by Rushmore Rocks (Dollar a Day Member..............Free Republic is not Free!)
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To: ClearCase_guy

Crash #2 in the horizon?


29 posted on 02/15/2010 3:34:32 PM PST by jersey117
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To: ConservativeMind

GS is as corrupt as it comes. They admitted to the senate that they do things that look illegal. Such as, buying a lot of a particular stock (and cause a run up in price), then downgrade it and sell at a profit, and while the selling frenzy starts over the gs downgrade, they short sell the stock. When the stock has reached its bottom, they begin buying again (remember in a down grade you go from buy to hold, or hold to sell, no where in there is buy).

These guys are crooks and I hope they get whats coming to them.


30 posted on 02/15/2010 3:34:58 PM PST by Huskerscott
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To: parsifal

LOL, Are you in Caifornia on medical marijuana ?


31 posted on 02/15/2010 3:45:17 PM PST by Lurkina.n.Learnin (Waste and fraud are synonymous with gov't spending)
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To: Lurkina.n.Learnin

Thanks! No, in Louisiana eating homemade pickles in the root cellar.

parsy, who says “Who Knows?”


32 posted on 02/15/2010 3:47:34 PM PST by parsifal (Abatis: Rubbish in front of a fort, to prevent the rubbish outside from molesting the rubbish inside)
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To: blam

Goldman Sachs = “Banksters”


33 posted on 02/15/2010 3:50:19 PM PST by LZ_Bayonet (There's Always Something.............And there's always something worse!)
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To: blam

“The first thing you need to know about Goldman Sachs is that it’s everywhere. The world’s most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money. In fact, the history of the recent financial crisis, which doubles as a history of the rapid decline and fall of the suddenly swindled dry American empire, reads like a Who’s Who of Goldman Sachs graduates.”

http://www.rollingstone.com/politics/story/29127316/the_great_american_bubble_machine


34 posted on 02/15/2010 4:03:14 PM PST by NeoCaveman (we are so doomed (OTP))
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To: HiTech RedNeck

Greeced palms...now that is a good one!


35 posted on 02/15/2010 4:42:35 PM PST by pointsal
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To: Lurkina.n.Learnin

What’s the Albatross story??? Is this a troll adventure?


36 posted on 02/15/2010 4:44:02 PM PST by pointsal
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To: parsifal

Have you checked out the facilities in Atascadero?


37 posted on 02/15/2010 4:45:04 PM PST by pointsal
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To: jersey117
Crash #2 in the horizon?

We haven't seen a crash yet -- just pre-crash jitters.

When the food stops moving, that's a crash.

38 posted on 02/15/2010 4:45:46 PM PST by meadsjn (Sarah 2012, or sooner)
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To: Rushmore Rocks; JustPiper; LucyT; STARWISE; SunkenCiv; Las Vegas Ron; sonofstrangelove
Here is important background information -- a set of articles written by Matt Tiabbi about Goldman Sachs and published last summer in Rolling Stone.

They are EXCELLENT articles, every single person who's read them is very impressed.

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The Great American Bubble Machine (cap and trade and Goldman Sachs)
23 posts - 16 authors - Last post: Dec 17, 2009
In Rolling Stone Issue 1082-83, Matt Taibbi takes on "the Wall Street Bubble Mafia" --investment bank Goldman Sachs. ...

http://www.freerepublic.com/focus/news/2289094/posts

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The Great American Bubble Machine (Goldman Sachs runs everything ...
41 posts - 18 authors - Last post: Sep 26, 2009
Skip to comments. The Great American Bubble Machine
(Goldman Sachs runs everything, it seems) · Rolling Stone ^ | 7-13-09 | Matt Taibbi ...

http://www.freerepublic.com/focus/news/2348634/posts

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The Great American Bubble Machine how Goldman Sachs has engineered ...
12 posts - 9 authors - Last post: yesterday
The Great American Bubble Machine how Goldman Sachs has engineered every ... Rolling Stone Magazine ^ | Jul 02, 2009 8:38 AM | MATT TAIBBI ...

http://www.freerepublic.com/focus/f-news/2451220/posts

+ + + + + + + + + + + + + + + + + + + + + + + +

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The Great American Financial Bubble Machine (Goldman Sach stealing ...
If you haven't read Matt Taibbi's recent Rolling Stone piece on Goldman Sachs, make sure to get your hands on it ASAP. It's a must read on how Goldman Sachs ...

http://www.freerepublic.com/focus/f-chat/2286227/posts

+ + + + + + + + + + + + + + + + + + + + + + + +

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The Great American Bubble Machine (Goldman Sachs)
Skip to comments. The Great American Bubble Machine (Goldman Sachs) ·
Rolling Stone ^ | July 13, 2009 | MATT TAIBBI.
Posted on 07/18/2009 2:03:02 AM PDT by...

http://www.freerepublic.com/focus/f-news/2295392/posts

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The Great American Bubble Machine
51 posts - 24 authors - Last post: Dec 18, 2009
Rolling Stone Magazine ^ | June 9th, 2009 | Matt Taibbi
... From tech stocks to high gas prices, Goldman Sachs has engineered every major ...

http://www.freerepublic.com/focus/news/2280025/posts

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39 posted on 02/15/2010 5:00:33 PM PST by hennie pennie
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To: meadsjn

Just what would it take, other than a natural disaster, to create conditions in which FOOD actually stops moving??? How does a crash create that?


40 posted on 02/15/2010 5:02:10 PM PST by hennie pennie
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To: blam

After the (blank) hit the fan only a fool would take advice and/or buy a financial product from Goldman. Your used car salesman is more honest than these Ivy League MBAs.


41 posted on 02/15/2010 5:03:20 PM PST by C19fan
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To: hennie pennie; AdmSmith; Berosus; bigheadfred; Convert from ECUSA; dervish; Ernest_at_the_Beach; ...
Image and video hosting by TinyPic "Too big to fail! Bailout!"

42 posted on 02/15/2010 5:37:11 PM PST by SunkenCiv (Happy New Year! Freedom is Priceless.)
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To: NeoCaveman

Here’s what else people should know about the squid and the others

http://www.opensecrets.org/orgs/list.php?order=A

http://www.salon.com/opinion/greenwald/2009/04/04/summers/

http://www.nytimes.com/2009/07/19/business/19dimon.html?_r=1

http://www.economicpolicyjournal.com/2009/07/president-obamas-favorite-banker.html

http://www.noquarterusa.net/blog/2008/09/21/baracks-wall-street-problem-is-now-americas/

http://www.opensecrets.org/news/2009/07/jpmorgan-ceo-jamie-dimon-donat.html

http://online.wsj.com/article/SB123146096981566339.html

http://www.rollingstone.com/politics/story/31234647/obamas_big_sellout/print
Obama coddles bankers

His credibility sinks further as Democrats schmooze the lobbyists

http://www.post-gazette.com/pg/10038/1033826-373.stm

In his year-end interviews with friendly news outlets like The Washington Post and National Public Radio, President Obama had a curious choice for his biggest accomplishment of the year: the bailout of the financial sector.

http://www.washingtonexaminer.com/politics/Obama_s-pick-for-man-of-the-year_-George-W_-Bush-8677553-79997637.html

Irked, Wall St. Hedges Its Bet on Democrats

http://www.nytimes.com/2010/02/08/us/politics/08lobby.html?hp


43 posted on 02/15/2010 5:51:07 PM PST by FromLori (FromLori)
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To: blam
Buenos Aires. Out of the Global Eye.
44 posted on 02/15/2010 6:01:38 PM PST by jnsun (The Left: the need to manipulate others because of nothing productive to offer.)
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To: hennie pennie
Just what would it take, other than a natural disaster, to create conditions in which FOOD actually stops moving??? How does a crash create that?

How much of your food is grown within walking distance?

For every person in the US, how much of their food is grown within walking distance?

There are a variety of circumstances that would stop the food from moving.

45 posted on 02/15/2010 7:59:43 PM PST by meadsjn (Sarah 2012, or sooner)
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To: blam
Business Insider
46 posted on 02/15/2010 9:22:47 PM PST by A.A. Cunningham (Barry Soetoro is a Kenyan communist)
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To: meadsjn

What is this going to do with trade with Greece? Will the EU ostracize Greece?


47 posted on 02/15/2010 10:19:50 PM PST by HiTech RedNeck (I am in America but not of America (per bible: am in the world but not of it))
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To: C19fan

Sachs was making money hand over fist.

Now they’re anathema to much of Europe, because of the monkey business with Greece. Did Europe expect Sachs to be more ethical?


48 posted on 02/15/2010 10:22:00 PM PST by HiTech RedNeck (I am in America but not of America (per bible: am in the world but not of it))
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To: HiTech RedNeck
I don't know, and probably neither does any of the really smart people.

It looks like no other country is going to bail out Greece. I suspect that when one big country defaults on their debt, others, including the USA, will be soon to follow. As the fellows on Glenn Beck a few days ago were discussing, we could see a global reset, a wiping-out of all debt, just because so many countries are never going to be able to produce enough to pay their debt, their interest, and their operating costs.

This is probably what the big thieves like Goldman Sachs and JP Morgan expected, and they don't care. They've already stolen their trillions from taxpayers and investors.

49 posted on 02/15/2010 10:46:26 PM PST by meadsjn (Sarah 2012, or sooner)
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To: HiTech RedNeck

If I heard correctly, this crisis with the PIGS countries could result in a break-up of the EU. I’d see that as a good thing.


50 posted on 02/15/2010 10:49:25 PM PST by meadsjn (Sarah 2012, or sooner)
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