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 ...
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.