Skip to comments.Senate grills Goldman execs on meltdown role
Posted on 04/27/2010 7:52:07 AM PDT by MNJohnnie
Senators demanding answers on what caused the 2008 global economic meltdown were to grill Goldman Sachs chief Lloyd Blankfein Tuesday on the investment giant's alleged role in the collapse.
The US Senate Permanent Subcommittee on Investigations was to question Blankfein and other executives including Fabrice "Fabulous Fab" Tourre, the London-based French national at the heart of US fraud charges against the firm.
(Excerpt) Read more at news.yahoo.com ...
A case of the pot calling the kettle black?
(oopsie...is that racist?)
This testimony is fascinating.
I don’t see where they committed anything illegal...so far.
In 2006 when Goldman sachs bought 10% in this redistribution of wealth scam, Obama also bought shares of goldman sachs. I have posted this before but it so relevant again. This was all planned and Obama was going to get his share.
Obama 2005 financial filings.
Obama 2006 financial filings;
Purchase GOLDMAN SACHS 2006, 2006, 2006
Marshall prime money
2007 FINANCIAL FILINGS
Pretty much the same as 2006.
Obama Vanguard accounts.
87 posted on Tuesday, April 27, 2010 2:59:04 AM by OafOfOffice
This is political theater- watch for signs of scripting
Blankfein held a fundraiser for Harry Reid just last year
maybe GS has tightened its donations to the dems (or hinted at doing so) and this harmless little charade is a way of reminding Lloyd who his senior partner really is
I don't look at the color of their skin. I look at the content of their hearts.
Of course all of their hearts are black too.
How come they aren’t grilling Barney Frank and Dicky Durban about the Fannie Mae and Freddie Mac fiasco? After all THEY were the root cause of ALL of this!
Glenn Beck connected a lot of dots between GS and Obama yesterday.
This is all Kabuki theater for the masses. Corruption is complete. The political class is merely going through the motions with the Wall St. guys. Bailouts for billionaires is alive and well.
The answers are not what the kangaroo court wanted to hear.
Don’t leave Dodd out of the mix of corrupt pols.
NO! Please don’t!
The speaker I heard made it clear that not ONE single individual investor was part of their process.
ALL the investors were sophisticated fund MANAGERS with full knowledge of the risks and rewards.
He is doing it again right now. He is also tying all this to Al Gore’s company and Cap and Trade
Levin doesn’t know what he is talking about!
GS was short for a client not themselves.
Believe me the Senators already know and Goldman Sachs and the Senators including Obama and George Soros are all in this together.
Chicago Climate Exchange
Generation Investment Management
David W. Blood
Generation Investment Management
People related to Generation Investment Management:
David W. Blood - co-founder & senior partner
L. John Doerr - advisory board member
Mark Ferguson - managing partner & CIO
Albert A. Gore Jr. - chairman
Peter Harris - managing partner & COO
Peter S. Knight - managing partner
Colin le Duc - managing partner
Miguel Nogales - managing partner
Other current Generation Investment Management relationships:
Ausra, Inc. - investor
Generation Investment Management
David W. Blood
David W. Blood lives and/or works in
David W. Blood current relationships:
Acumen Fund - advisory council member
Generation Investment Management - co-founder & senior partner
Hamilton College - trustee
David W. Blood past relationships:
2008 Barack Obama presidential campaign - London fundraiser co-chair
Goldman Sachs Asset Management - CEO
Great stuff there
Wall St. let greed and stupidity wipe out our banking and investing system. The regulators and government were right along with them in the ponzi scheme financing we call the derivatives trading system. Trillions of dollars later, these insolvent criminals are all covering their tracks and reinventing history. Nothing has changed. No one but Madoff has went to jail. Secrecy and obscuration as to where all the funny money printed by the FED went to is the norm. The politicians who enabled them are now the ones who are supposedly investigating them. What a joke.
Glenn Beck - Goldman Sachs Obama And The Green Agenda
Q. If GS is so smart why did they get a bailout?
A. Because GS is smart and wanted in on the taxpayer gang bang.
Deserves it’s own thread. Un-freaking-beliveable.
The banks were FORCED to give mortgages to NINJAs.......The banks sold the mortgages. Some institutional investors were willing to take the risk.
Everyone knows that every single stock you buy is only going to go UP. Everyone knows that!!!!
NINJA........No Income No Job No Assets
Forgive my redundancy.
No one has clean hands when it comes to this mess (except the guy that outed Madoff). Systematic break down at this level can only occur when all parties involved see a benefit to looking the other way.
Reposting an observation here from the other thread:
“Kinda half watching the Goldman Sacs/Congressional cover up/hearing now. These men that they have brought in to testify from GS are SOOOOO YOUNG! I get the feeling that these young GS exes are being set up by the REAL CRIMINALS in Goldman and Congress to be the FALL GUYS! Just a intuition of course but the REAL criminals are the ones doing the questioning!”
27 posted on Tuesday, April 27, 2010 10:35:16 AM by penelopesire
Senator Collins does not know the difference between being a market maker and being an investment advisor! What a dunce!
That’s because she gets all of her questions and talking points from the DNC....lol. I was watching another congressional hearing late last night on the movie commodities trading scam on CSPAN. Some democrat actually asked the person that was testifying on behalf of the scam, if Congress was allowed to ‘regulate’ this market,etc.(or something to the effect). In other words..the dem congressman was asking a witness from the CFTC what Congress’s job was. Astonishing...lol!
It’s kind of like a televised Star Chamber.
What part of risk management do you expect Congress to understand? Just look at our public debt as a fraction of GDP.
These democrat congress critters, Al Gore,et al and their allies like George Soros are the ones that SHOULD BE ON THE WITNESS STAND!!
This is outrageous!
So that excuses fraud?
are you demanding for more regulation?
The sheer ignorance or deliberate obfuscation of the issue is sickening.
They act as tho BUYER BEWARE is an alien concept.
The banks were forced to give those loans.
And where is the management of Fannie and Freddie?
Laughing all the way to the bank.
What good is more ‘regulation’ when the President, Congress and the ‘watchdogs’ are in on the scam?
So what do you propose?
An independent commission to investigate the financial meltdown, a new congress in 2010 and a new president in 2012.
It disturbs me when I see Congress people grill the private sector about fraud. If the people in congress were running a company instead of the government they would be in prison.
These congress people should be in prison regardless of whether they are working for the government or the private sector. They are corrupt!
Are they going to go after Soros? I think he is behind the Money Market deal...
Wall Street would just buy off the new congress and president.
And who gets to choose the independent commission? Really who would make up the independent commission? Anybody who knows anything about Wall Street has extensive ties to the situation.
To all posters/lurkers:
My apologies for the senator from Missouri, Claire McCaskill.
I voted for Jim Talent, but not enough people were sane inside the
voting both in Missouri in that election.
Simple, Wall Street has proven to us once again they cannot control themselves. So we need to do the following.
Force all Investment banking/Hedge Funds/Brokerage Houses to become private partnerships - no more corporations.
Ban all non-monetary compensation from wall street for upper management. No more stock bonuses.
Finally, a transaction tax, every share bought or sold will be taxed at a penny per share. This will cut down on speculation and that money will go into paying off the bail out. They got us into this mess they’ll get us out.
Fannie & Freddie - wipe out all the shareholders and bring it back in under the federal government and continue to pay off the bondholders. Fannie & Freddie got in trouble when their shareholders looked at the “gains” from countrywide and said “Why not us?”
Nope. I am demanding accountability. Investigate, persecute, and hold people accountable. Not hand them taxpayers dollars to continue business as usual.
They should give George Soros 300 hundred years.
How about putting some of these senators and reps in the hot seat. They are guilty too.