Posted on 04/17/2010 7:06:25 AM PDT by george76
Civil charges negotiated between plutocrat speculators and financial vampires and lickspittle facistic wannabee libs. Ho Hum
Is John Paulson any relation to Hank Paulson?
The fact that these are not criminal charges has me concerned and wondering. Civil charges can be resolved quickly with enough money and keep bad GS PR out of the media. This is also one way for the government to fund its socialistic policies.
Criminal charges would be fought tooth and nail by all defendants. If something was done illegally, someone should go to jail. It seems that this is at least partially politically motivated and that the case may not be all that strong.
I do not know
I believe Goldman Sachs is the worlds largest securities firm by market share.
Guess it needs to be brought down ... a peg or two or more.
Goldman Sachs also donated a bit to the Presidents campaign coffers. Guess the money was appreciated but the evil rich were not.
GS top management are wealthy, politically influential democrats suddenly facing civil charges from an organ of the Obama regime. This smells like a rope-a-dope where GS plays the evil capitalist financial company brought to justice by our heroic young president. The headlines will help pass the Poseur’s statist financial reform and lure the gullible into thinking the administration is cracking down on those responsible for the financial crisis.
After financial reform passes, with plenty of loopholes for GS, this story will end with a small civil fine, perhaps a mid-level firing or two and GS will go back to business as usual. One thing is for sure; nothing will be done to GS which would endanger their ability to fund the Democrat party.
Yes, it sounds like it might be a political shakedown (not that GS is not worthy of everything they're getting).
I wonder if this is just the shot across the bow with criminal charges pending; unless, of course, certain campaign contributions are made.
We do have an election coming up shortly, don't we?
“Goldman Sachs also donated a bit to the Presidents campaign coffers. Guess the money was appreciated but the evil rich were not.”
They also donate big to McCain.
This table lists the top donors to this candidate in the 2008 election cycle.
John McCain
Merrill Lynch $373,595
Citigroup Inc $322,051
Morgan Stanley $273,452
Goldman Sachs $230,095 [snip]
http://www.freerepublic.com/focus/news/2494466/posts?page=96#96
Sometime next week the market will recover from its shock losses and continue its “inexplicable” waft upward. Come back little ‘vestor, give the big guys money for their games.
Dogcaller, you are absolutely correct. Half the finance guys in the Obama administration are ex-GS. This has been the case for decades, dating back to FDR. The revolving door between GS and the Feds is why GS is often referred to as "Government Sachs."
GS is a deadly nest of vipers. Amazing how all of their serious competitors were allowed to fail or shut down during the meltdown, but GS was carefully protected via AIG and somehow managed to emerge unscathed and no longer encumbered by TARP money just in time to generate record profit and bonuses. This is an arm of the democrat party.
If you are right then this is a good time to accuumulate their stock. It won’t be down long.
My guess: Goldman has been doing the “crony capitalism” thing for years, happily watching as the SEC and FINRA destroy many many smaller firms. Well, they are now learning that the govt monster isn’t easily appeased and always turns on its “allies.”
No love lost for Goldman. They are reaping what they have sown. That said, this blatant thugocratic strong-arming of another huge chunk of the public sector is terrifying...
Ooops, I meant private sector...
Is there a link to a story (or stories) on FR about the history of the mortgage mess/ Like stories of the Clinton DOJ forcing banks to make these loans; or any links to the youtube videos about the hearings?
Thanks.
No relation.
Thanks!
I’d say search via keywords, probably bubble, housingbubble, mortgage, etc. There are a wealth of articles here warning of the inevitable disaster going back to 2004 at least.
Here is a start. Lots of stuff out there.
The Community Reinvestment Act and the expansion of it in the mid-90s that is the root cause of this problem. Why is no one talking about this? The CRA forces banks to find clever ways to lend money to people who can not afford to pay it back.
Beth A. Wilkinson also served as Fannie Mae’s executive vice president, general counsel and corporate secretary from February 2006 until September 2008. She resigned her position at Fannie Mae along with three other senior executives on September 19, 2008.
Beth A. Wilkinson is married David Gregory; he is the host of Race for the White House on MSNBC. Any surprise that David Gregory and his media friends are silent on this massive fraud where his wife made millions of dollars?
http://www.nypost.com/seven/10012008/gossip/pagesix/awkward_links_131451.htm
Mistress of Disaster: Jamie Gorelick
Imagine playing a central role in the biggest national defense disaster in 50 years. Imagine playing a central role in one of the biggest economic disasters in your country’s history. Imagine doing both as an un-elected official. Imagine getting filthy rich in the process, and even being allowed to sit self-righteously on a commission appointed to get to the bottom of the first disaster, which of course did not get to the bottom of that disaster or anything else for that matter.
Imagine ending, ruining or at least causing signficant quality deterioration in the lives of millions of people, most of whom will never know your name.
http://www.americanthinker.com/2008/09/mistress_of_disaster_jamie_gor.html
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