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Sen Jon Corzine the "tolerant and compassionate liberal Democrat" from New Jersey who bought his Senate seat with $65 of his own assets, was once the CEO of Goldman Sachs. Corzine has been tied to stock schemes in several news stories:

Wash Times 7/17/02
Nicholas Maier, who was syndicate manager of the Wall Street firm Cramer & Co. from 1996 to 1998, told SEC investigators in the spring that Goldman Sachs routinely forced him to buy stocks at inflated prices if he wanted to purchase shares of an initial publicoffering (IPO).

"Goldman, from what I witnessed, they were the worst perpetrator," Mr. Maier said. "They totally fueled the [market] bubble. And it's specifically that kind of behavior thathas caused the market crash. They built these stocks upon an illegal foundation —manipulated up, and ultimately, it really was the small person who ended up buying in."

For example, Mr. Maier told the SEC that Goldman Sachs would offer him shares of anew company's IPO at the initial, low price of $20 per share only if he agreed to purchase"aftermarket" shares of the same company at $100 each. In turn, he would sell the sharesof the higher-priced stock to small investors.

"None of these aftermarket orders had anything to do with what I honestly valued acompany to be worth," Mr. Maier said. "Goldman created the convincing appearance of awinner, and the trick worked so well that they seduced further interest from otherspeculators hoping to participate in the gold rush.

The general public had no idea that these stocks were actually brought into the world at unnaturally high levels through illegal manipulation."

Asked whether he knew about an SEC investigation (of the company he once headed), Mr. Corzine tried the amnesia defense: he said, (Duh.) "That could very possibly be; (duh) I'm not aware of it. I'm divorced from [Goldman] since 1999."

Looks like liberal Democrat and igonorance go hand in hand,

WASHINGTON TIMES 7/17/02 A class-action lawsuit filed in April 2001 accused Goldman Sachs and others of engaging in "laddering" on the initial sale of stock of NetZero, driving up the company's share price to artificially high levels.

In another class-action suit, shareholders of Buy.com have accused the firm and its underwriters, including Goldman Sachs, of engaging in a laddering scheme in its IPO in February 2000, after Mr. Corzine left Goldman. And investors of defunct online grocer Webvan.com have filed a similar suit in federal court concerning that firm's initial public offering in November 1999.

Another class-action suit filed last year says that underwriters, including Goldman Sachs, manipulated several IPOs since 1997, including at least six when Mr. Corzine was still at the helm of Goldman.

1 posted on 09/05/2002 3:12:03 AM PDT by Liz
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To: Liz
I want to see the IPO allocations to Congressmen.

I believe that D'Amato used to flip hot IPOs,
so which of these other hypocrites have received the same largess they are now "shocked" to hear about?
2 posted on 09/05/2002 3:16:34 AM PDT by APBaer
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To: Liz
Is this the same John Mack that is tied in with Tony Coehlo?
4 posted on 09/05/2002 4:35:32 AM PDT by afz400
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To: Liz
"Laddering scheme"...quite the game developed by the insiders to create the run-up in price.

"The investigations will lead to wherever they take us..."...hopefully they'll lead to the Justice Department prosecuting these economic terrorists.

They were/are a much bigger threat to FREEDOM than Osama bin Laden. The economic terrorists are destroying America from within.

Can we say HOMELAND SECURITY?

5 posted on 09/05/2002 4:55:39 AM PDT by PGalt
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To: Liz
"where we make money the NEW-fashioned way. . ."

we burrrnnn it."

10 posted on 09/06/2002 4:38:38 AM PDT by bandlength
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