American Propaganda

[Vast LWC]

Why do you think they are "clearly guilty" of fraud? I rather doubt it, in fact.

Goldman is a major contributor to congressmen. The SEC is independent of Congress. Goldman is an obvious target because of bail out money and their record profits, just announced. But in the end nothing will happen to them.

Their job is to advise their clients to invest where they will make money.

Goldman clearly not only thought that the investments that they were advising their clients to buy were faulty, but they were actually betting against them.

That is clearly fraud.

 

[Titanic Sailor]

What else do you have for your defense VLWC. So far I hear crapola and massive avoidance from a 20 percenter. Why must you throw all of your energy at defending wrong? What happened to you?

Shame.......

 

[Titanic Sailor]

I think a traitor is someone who defends the rights of the few in massively corrupt government over the rights of a people. I'm keeping an eye on all of the government workers fighting their asses off to avoid Obamacare penalties now, much like they did when they scammed out of Social Security decades ago. All these pig government workers except our military, they must be Republicans..................

25% of those in government do 90 percent of all of the work, and the hack Democrats are hammering the little guy to make the citizens suffer. The Democrat view is if they can increase the pain from reduced revenue on the people, they can justify raising taxation.

Democrat 101, protect the hacks, salaries, and benefits, and screw the actual workers.

 

[The Rabbi]

Why do you think they are "clearly guilty" of fraud? I rather doubt it, in fact.

Goldman is a major contributor to congressmen. The SEC is independent of Congress. Goldman is an obvious target because of bail out money and their record profits, just announced. But in the end nothing will happen to them.

Their job is to advise their clients to invest where they will make money.

Goldman clearly not only thought that the investments that they were advising their clients to buy were faulty, but they were actually betting against them.

That is clearly fraud.

No. Goldman Sachs is an investment bank. They perform many functions. They perform advisory functions for some clients' portfolios. But they also perform functions of underwriting securities and selling securities. They also trade for their own account. Every investment house does that.
There is no contradiction to their selling a product while simultaneously betting against it in another area of the business. At the time everyone knew the housing market was a bubble. They would be fools not bet it would pop. Equally if the opportunity arose to make underwriting fees by floating a mortgage securitization (and their product was even more esoteric than that) they would be fools not to do that.
Fraud would be misrepresenting the nature of the products they sold in terms of their quality or risks involved. But they were selling to sophisticated investors, hedge fund managers and the like. If those customers had issues they can sue in civil court for damages.
SEC involvement has politics written all over it.

 

[Lonestar_logic]

Awesome, health care stocks up to the moon, and Goldman Sachs giving 70% of lobbying cash to Democrats, what a shocker.

Should the world go slower for the 20 percenters?

1. Goldman Sachs gives more donations to whomever is in charge, as do almost all those firms.

2. The SEC under the Democrats are currently prosecuting Goldman Sachs for their crimes, despite lobbying dollars.

What crime was committed? It's my understanding it's a civil matter not a criminal one, but please enlighten me.