Goldman Sux

windthrown

If you are not aware of it, Goldman Sachs is being sued for fraud by the US Securities and Exchange Comission. Basically they say that Goldman intentionally sold bogus house loans bundled in other securities and defrauded customers. Goldman of course denies it all. As ususal I get my real news from overseas, where the issues are not glossed over and tainted as much by US special interests.

Will Goldman Sachs prove greed is God? | Business | The Guardian

windthrown

Here's a question:

Did Goldman short themselves in their hedge funds today?

Seems that they would have a perpetual money machine that way. If they fail they can just get a bailout from the FED. Then they can make more political campaign contributions to keep the whole thing going in an endless financial loop.

glennak

The New York Post has published the Andrew Maguire silver manipulation story, including some of the emails Maguire exchanged with the CFTC outlining exactly how and when JP Morgan silver traders would manipulate the market and create huge windfall, albeit illegal, profits. The CFTC was going to bury those emails. But Maguire sent them to GATA after it was made clear to him that the CFTC was going to bury them. Bill Murphy then read them verbatim at the CFTC hearing two weeks ago, much to the obvious surprise and horror of Gary Gensler, chairman of the CFTC.

It is incredable what the big banks can get away with. Giving themselves bonuses with bail out money. The rest of the bail out money paying for the puts they bought to cover the dogy mortages they bundled and sold. Little if any of the bail out money doing what it was suposed to do.
Back in 2007, Morgan Stanley agreed to settle a $4.4-million lawsuit brought by precious-metal clients, who alleged that Morgan offered to buy gold and silver and store it for the investors, but never purchased any metal and still charged them storage fees. Sounds a cheap way to get out of it.
What else can you expect from a country where it's legal to bribe polititions.
Good artical not bad when a bank can screw a whole country or close enough to the whole world.

windthrown

Yes, and the US supreme court just said that anyone can give any politician as much as they want now. No more limits to campaign contributions. So the US congress will just be bought outright from now on (not all that much different than before, but now with no limit spending, anyone can buy an election).

Eric Frei

LOL, well, good to see a yank that doesn't have one eyed vision.

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clementine

The biggest form of legal gambling ever seen!
They sure can pull in the suckers!

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Meddle not in the affairs of dragons - for you are crunchy and taste of chicken!