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Senate grills Goldman execs on meltdown role
Yahoo News ^ | 04/27/2010 | by Olivier Knox

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 ...


TOPICS: Constitution/Conservatism; Crime/Corruption; Extended News; News/Current Events
KEYWORDS: congresseducation; finacial; goldman; howmarketswork; longsandshorts; marketmaking; wallstreet
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If I were these guys, I would come with a list of all the political donations I made to these "Public Servants" in cluding those to Dear Reader himself, and ask for my money back in my opening statement.
1 posted on 04/27/2010 7:52:07 AM PDT by MNJohnnie
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To: MNJohnnie

A case of the pot calling the kettle black?

(oopsie...is that racist?)


2 posted on 04/27/2010 7:59:15 AM PDT by marstegreg
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To: MNJohnnie

This testimony is fascinating.

I don’t see where they committed anything illegal...so far.


3 posted on 04/27/2010 8:01:28 AM PDT by Clint N. Suhks (Jim Bunning we will miss you. Palin/Cheney 2012)
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To: MNJohnnie; OafOfOffice

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.

http://www.washingtonpost.com/wp-srv/politics/congress/fin_dis/2005/o000167.pdf

stocks;
AVI biopharma
Sky Terra

mutual fund;
Vanguard

http://www.washingtonpost.com/wp-srv/politics/congress/fin_dis/2006/o000167.pdf
Obama 2006 financial filings;

STOCKS
Purchase GOLDMAN SACHS 2006, 2006, 2006

Mutual funds,
Vanguard
Nuveen
Marshall prime money
PIMCO

http://www.washingtonpost.com/wp-srv/politics/congress/fin_dis/2007/o000167.pdf
2007 FINANCIAL FILINGS

Pretty much the same as 2006.

Obama Vanguard accounts.

http://www.abovetopsecret.com/forum/thread482681/pg1

87 posted on Tuesday, April 27, 2010 2:59:04 AM by OafOfOffice


4 posted on 04/27/2010 8:01:40 AM PDT by combat_boots (The Lion of Judah cometh. Hallelujah. Gloria Patri, Filio et Spirito Sancto.)
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To: MNJohnnie

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


5 posted on 04/27/2010 8:01:44 AM PDT by silverleaf (Karl Marx was not one of the founding fathers ....)
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To: MNJohnnie
This grandstanding is sickening. If you substitute Fannie and Freddie every time one of them says big wall street firm and substitute politician every time they say executives of these big Wall Street firms, you would be amazed at how well it fits.
Any proposed Financial Reform that leaves out Fannie and Freddie and politicians that greased the skids and former politicians that reaped huge personal financial fortunes (salaries and bonuses at Fannie and Freddie) on the backs of taxpayers, is disingenuous at best.
Is the taxpayer on the hook for hundreds of billions for Fannie and Freddie? - Yes
Who was in charge of the mortgage banks? Who made their policies? Who appointed their executives? Who reaped benefits?
Begin to address these, and we’ll talk. Until then, shut up and turn the mirror around.
6 posted on 04/27/2010 8:02:50 AM PDT by jgophel
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To: marstegreg
oopsie...is that racist?

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.

7 posted on 04/27/2010 8:04:56 AM PDT by seowulf ("If you write a whole line of zeroes, it's still---nothing"...Kira Alexandrovna Argounova)
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To: MNJohnnie

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!


8 posted on 04/27/2010 8:07:11 AM PDT by Bigun ("It is difficult to free fools from the chains they revere." Voltaire)
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To: MNJohnnie

Glenn Beck connected a lot of dots between GS and Obama yesterday.


9 posted on 04/27/2010 8:09:08 AM PDT by lonestar (Better Obama picks his nose than our pockets!)
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To: Bigun

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.


10 posted on 04/27/2010 8:11:20 AM PDT by Gen-X-Dad
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To: MNJohnnie

The answers are not what the kangaroo court wanted to hear.


11 posted on 04/27/2010 8:12:08 AM PDT by Carley (I'll keep clinging to the constitution, my guns and my religion, thank you.)
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To: Gen-X-Dad

Exactly!


12 posted on 04/27/2010 8:12:32 AM PDT by Bigun ("It is difficult to free fools from the chains they revere." Voltaire)
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To: Bigun

Don’t leave Dodd out of the mix of corrupt pols.


13 posted on 04/27/2010 8:12:54 AM PDT by Carley (I'll keep clinging to the constitution, my guns and my religion, thank you.)
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To: Carley

NO! Please don’t!


14 posted on 04/27/2010 8:14:00 AM PDT by Bigun ("It is difficult to free fools from the chains they revere." Voltaire)
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To: Gen-X-Dad

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.


15 posted on 04/27/2010 8:14:13 AM PDT by Carley (I'll keep clinging to the constitution, my guns and my religion, thank you.)
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To: lonestar

He is doing it again right now. He is also tying all this to Al Gore’s company and Cap and Trade


16 posted on 04/27/2010 8:16:00 AM PDT by MNJohnnie (he problem with Socialism is eventually you run our of other peoples money. Lady Thatcher)
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To: MNJohnnie

Levin doesn’t know what he is talking about!

GS was short for a client not themselves.


17 posted on 04/27/2010 8:16:38 AM PDT by Clint N. Suhks (Jim Bunning we will miss you. Palin/Cheney 2012)
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Nothing but a.......


18 posted on 04/27/2010 8:16:58 AM PDT by OB1kNOb (When injustice becomes law, resistance becomes duty. - Thomas Jefferson)
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To: MNJohnnie

Believe me the Senators already know and Goldman Sachs and the Senators including Obama and George Soros are all in this together.


19 posted on 04/27/2010 8:23:29 AM PDT by freekitty (Give me back my conservative vote; then find me a real conservative to vote for)
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To: MNJohnnie; penelopesire; Liz; onyx; hoosiermama; STARWISE

0bama
Joyce Foundation
Chicago Climate Exchange
Generation Investment Management
Al Gore
David W. Blood
Goldman Sachs
Hank Paulson
Maurice Strong
Soros
...

More here:

http://www.freerepublic.com/focus/f-news/2501282/posts

//

http://www.muckety.com/Generation-Investment-Management/5000777.muckety

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

http://www.muckety.com/David-W-Blood/29954.muckety

David W. Blood

Gender: Male

David W. Blood lives and/or works in
London, UK.
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


20 posted on 04/27/2010 8:23:39 AM PDT by maggief (Not everything is what it seems.)
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To: maggief

Great stuff there


21 posted on 04/27/2010 8:25:53 AM PDT by MNJohnnie (he problem with Socialism is eventually you run our of other peoples money. Lady Thatcher)
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To: Carley

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.


22 posted on 04/27/2010 8:26:02 AM PDT by Gen-X-Dad
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To: lonestar

Glenn Beck - Goldman Sachs Obama And The Green Agenda

http://usaguns.net/patriots/beckc.html


23 posted on 04/27/2010 8:26:25 AM PDT by sheikdetailfeather
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To: MNJohnnie

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.


24 posted on 04/27/2010 8:28:39 AM PDT by ex-snook ("Above all things, truth beareth away the victory.")
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To: sheikdetailfeather

Deserves it’s own thread. Un-freaking-beliveable.


25 posted on 04/27/2010 8:31:42 AM PDT by MNJohnnie (he problem with Socialism is eventually you run our of other peoples money. Lady Thatcher)
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To: Gen-X-Dad

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


26 posted on 04/27/2010 8:34:39 AM PDT by Carley (I'll keep clinging to the constitution, my guns and my religion, thank you.)
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To: silverleaf
Senator Levin is such a pompous a$$.

Forgive my redundancy.

27 posted on 04/27/2010 8:37:23 AM PDT by auboy (Men who cannot deceive others are very often successful at deceiving themselves. Samuel Johnson)
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To: Carley

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.


28 posted on 04/27/2010 8:37:46 AM PDT by Gen-X-Dad
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To: maggief

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


29 posted on 04/27/2010 8:40:01 AM PDT by penelopesire ("The only CHANGE you will get with the Democrats is the CHANGE left in your pocket")
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To: MNJohnnie

Senator Collins does not know the difference between being a market maker and being an investment advisor! What a dunce!


30 posted on 04/27/2010 8:40:55 AM PDT by WashingtonSource
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To: WashingtonSource

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!


31 posted on 04/27/2010 8:48:41 AM PDT by penelopesire ("The only CHANGE you will get with the Democrats is the CHANGE left in your pocket")
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To: Carley

It’s kind of like a televised Star Chamber.


32 posted on 04/27/2010 8:51:22 AM PDT by garbanzo (Government is not the solution to our problems. Government is the problem.)
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To: WashingtonSource
Senator Collins does not know the difference between being a market maker and being an investment advisor!

What part of risk management do you expect Congress to understand? Just look at our public debt as a fraction of GDP.

33 posted on 04/27/2010 8:52:40 AM PDT by garbanzo (Government is not the solution to our problems. Government is the problem.)
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To: freekitty

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!


34 posted on 04/27/2010 8:56:16 AM PDT by penelopesire ("The only CHANGE you will get with the Democrats is the CHANGE left in your pocket")
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To: Carley

So that excuses fraud?


35 posted on 04/27/2010 9:02:50 AM PDT by maddogconservative
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To: Gen-X-Dad

are you demanding for more regulation?


36 posted on 04/27/2010 9:03:39 AM PDT by maddogconservative
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To: garbanzo

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.


37 posted on 04/27/2010 9:04:35 AM PDT by Carley (I'll keep clinging to the constitution, my guns and my religion, thank you.)
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To: maddogconservative

What good is more ‘regulation’ when the President, Congress and the ‘watchdogs’ are in on the scam?


38 posted on 04/27/2010 9:19:24 AM PDT by penelopesire ("The only CHANGE you will get with the Democrats is the CHANGE left in your pocket")
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To: penelopesire

So what do you propose?


39 posted on 04/27/2010 9:28:11 AM PDT by maddogconservative
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To: maddogconservative

An independent commission to investigate the financial meltdown, a new congress in 2010 and a new president in 2012.


40 posted on 04/27/2010 9:34:21 AM PDT by penelopesire ("The only CHANGE you will get with the Democrats is the CHANGE left in your pocket")
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To: MNJohnnie

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.


41 posted on 04/27/2010 9:43:13 AM PDT by kempo
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To: kempo

These congress people should be in prison regardless of whether they are working for the government or the private sector. They are corrupt!


42 posted on 04/27/2010 9:54:30 AM PDT by penelopesire ("The only CHANGE you will get with the Democrats is the CHANGE left in your pocket")
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To: MNJohnnie

Are they going to go after Soros? I think he is behind the Money Market deal...


43 posted on 04/27/2010 10:01:40 AM PDT by CharlieOK1 (I refuse to pay for DUmmies' Healthcare!!!)
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To: penelopesire

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.


44 posted on 04/27/2010 10:08:31 AM PDT by maddogconservative
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To: MNJohnnie

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.


45 posted on 04/27/2010 10:15:21 AM PDT by VOA
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To: maddogconservative; penelopesire
So what do you propose Maddog?
46 posted on 04/27/2010 10:22:53 AM PDT by MNJohnnie (he problem with Socialism is eventually you run our of other peoples money. Lady Thatcher)
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To: MNJohnnie

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?”


47 posted on 04/27/2010 10:46:11 AM PDT by maddogconservative
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To: maddogconservative

Nope. I am demanding accountability. Investigate, persecute, and hold people accountable. Not hand them taxpayers dollars to continue business as usual.


48 posted on 04/27/2010 10:54:31 AM PDT by Gen-X-Dad
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To: penelopesire

They should give George Soros 300 hundred years.


49 posted on 04/27/2010 11:21:51 AM PDT by freekitty (Give me back my conservative vote; then find me a real conservative to vote for)
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To: penelopesire

How about putting some of these senators and reps in the hot seat. They are guilty too.


50 posted on 04/27/2010 11:22:49 AM PDT by freekitty (Give me back my conservative vote; then find me a real conservative to vote for)
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