Goldman Sachs Ripped Off And Misled Clients, Senate Report Says

[auditor0007]

And we give these guys tax breaks? We ought to hang them.


Goldman Sachs Ripped Off And Misled Clients, Senate Report Says

Goldman Sachs, the nation's fifth-largest bank by assets, systematically misled clients, sold them financial instruments it knew to be junk, bet against them and profited off of their losses, according to a Senate report released this week.

The report, the product of a two-year investigation, paints the firm as Exhibit A of Wall Street's evolution from a place that raises and deploys capital to worthy businesses into a vulturous creature that preys on unwitting investors.

Goldman's conduct in the two years leading up to the near-implosion of the financial system show a firm dedicated to "sticking it to their own clients," said Senator Carl Levin, a Michigan Democrat who chairs the panel that produced the report. "Goldman gained at the expense of their clients, and used abusive practices to do it."

Goldman Sachs Ripped Off And Misled Clients, Senate Report Says

 

[editec]

NEITHER the Republicans nor Democratic administrations seem remotely interested in doing anything about WALL STREET BANKSTERS' crimes

And yet, amaingly, many of you STILL BELIEVE that one party is fundamentally different than the other.

Why?

Well they are, I suppose ...on social issues.

And why is it that they are so different on social issues but so similar on issues like this one?

I'll leave it to you guys to connect those dots.

 

[Douger]

Jankers. "Gold-man"

 

[Mad Scientist]

NEITHER the Republicans nor Democratic administrations seem remotely interested in doing anything about WALL STREET BANKSTERS' crimes

And yet, amaingly, many of you STILL BELIEVE that one party is fundamentally different than the other.

Why?

Well they are, I suppose ...on social issues.

And why is it that they are so different on social issues but so similar on issues like this one?

I'll leave it to you guys to connect those dots.

Obama could start by purging his cabinet and government appointees of all those Goldman Sachs and Banker types.

First would be Obamas Chief of Staff William Daley who is a Morgan Chase banker.

 

[Paulie]

NEITHER the Republicans nor Democratic administrations seem remotely interested in doing anything about WALL STREET BANKSTERS' crimes

And yet, amaingly, many of you STILL BELIEVE that one party is fundamentally different than the other.

Why?

Well they are, I suppose ...on social issues.

And why is it that they are so different on social issues but so similar on issues like this one?

I'll leave it to you guys to connect those dots.

Obama could start by purging his cabinet and government appointees of all those Goldman Sachs and Banker types.

First would be Obamas Chief of Staff William Daley who is a Morgan Chase banker.

They ALL put bankers in high places. ALL of them.

Paulson was ex-CEO of Goldman. I'm sure there was no coincidence at all that he was the main pusher of TARP, which probably benefited Goldman the most.

 

[editec]

NEITHER the Republicans nor Democratic administrations seem remotely interested in doing anything about WALL STREET BANKSTERS' crimes

And yet, amaingly, many of you STILL BELIEVE that one party is fundamentally different than the other.

Why?

Well they are, I suppose ...on social issues.

And why is it that they are so different on social issues but so similar on issues like this one?

I'll leave it to you guys to connect those dots.

Obama could start by purging his cabinet and government appointees of all those Goldman Sachs and Banker types.

First would be Obamas Chief of Staff William Daley who is a Morgan Chase banker.

They ALL put bankers in high places. ALL of them.

Paulson was ex-CEO of Goldman. I'm sure there was no coincidence at all that he was the main pusher of TARP, which probably benefited Goldman the most.

Bingo!

Democratic administration or Republican the Banksters are really calling the shots.

 

[uscitizen]

NEITHER the Republicans nor Democratic administrations seem remotely interested in doing anything about WALL STREET BANKSTERS' crimes

And yet, amaingly, many of you STILL BELIEVE that one party is fundamentally different than the other.

Why?

Well they are, I suppose ...on social issues.

And why is it that they are so different on social issues but so similar on issues like this one?

I'll leave it to you guys to connect those dots.

should we expect them to attack their masters?

 

[Mad Scientist]

Obama could start by purging his cabinet and government appointees of all those Goldman Sachs and Banker types.

First would be Obamas Chief of Staff William Daley who is a Morgan Chase banker.

They ALL put bankers in high places. ALL of them.

Paulson was ex-CEO of Goldman. I'm sure there was no coincidence at all that he was the main pusher of TARP, which probably benefited Goldman the most.

Bingo!

Democratic administration or Republican the Banksters are really calling the shots.

"You must spread some Reputation around before giving it to editec again."

 

[uscitizen]

Hey and lets not forget The ratings companies like Moodys who falsely rated the securities high.

 

[william the wie]

Sui generis (legalese for "hell we've done it before, let's do it again.") probably makes prosecution impossible.

CDOs go back to the S&L crisis.

Foreign but not domestic CDSs and shortsales helped sink Long Term Capital Management in 98. No prosecutions of domestic CDS buyers and sellers in foreign markets followed.

The selling of ratings was testified to in congress during the derivatives scandals of the Clinton administration as were selling practices.

What prosecution tactic can circumvent enough of this "established law" to be sustained on appeal? Hedging is legal and need nor be disclosed.

 

[sparky]

Hey and lets not forget The ratings companies like Moodys who falsely rated the securities high.

delving into that point , we find a complete fox/henhouse infiltration, exempt from the SEC

now one might think, well, so what? and that notion might stand up for internal commerce, yet externally other countries bond raters (like China's, the other big boy on the block) take full advantage of this for monetary manipulation

and as long as we have the best congress the elites can buy, we will continue screwing the valuation/risk/benny shell game pooch for their benifit

Jessie lays it on the line>

You control our world. You’ve poisoned the air we breathe, contaminated the water we drink, and copyrighted the food we eat. We fight in your wars, die for your causes, and sacrifice our freedoms to protect you. You’ve liquidated our savings, destroyed our middle class, and used our tax dollars to bailout your unending greed. We are slaves to your corporations, zombies to your airwaves, servants to your decadence. You’ve stolen our elections, assassinated our leaders, and abolished our basic rights as human beings. You own our property, shipped away our jobs, and shredded our unions. You’ve profited off of disaster, destabilized our currencies, and raised our cost of living. You’ve monopolized our freedom, stripped away our education, and have almost extinguished our flame. We are hit… we are bleeding… but we ain’t got time to bleed. We will bring the giants to their knees and you will witness our revolution!

Sincerely,

The Serfs.

We Ain't Got Time To Bleed |

 

[editec]

Hey and lets not forget The ratings companies like Moodys who falsely rated the securities high.

delving into that point , we find a complete fox/henhouse infiltration, exempt from the SEC

now one might think, well, so what? and that notion might stand up for internal commerce, yet externally other countries bond raters (like China's, the other big boy on the block) take full advantage of this for monetary manipulation

and as long as we have the best congress the elites can buy, we will continue screwing the valuation/risk/benny shell game pooch for their benifit

Jessie lays it on the line>

You control our world. You’ve poisoned the air we breathe, contaminated the water we drink, and copyrighted the food we eat. We fight in your wars, die for your causes, and sacrifice our freedoms to protect you. You’ve liquidated our savings, destroyed our middle class, and used our tax dollars to bailout your unending greed. We are slaves to your corporations, zombies to your airwaves, servants to your decadence. You’ve stolen our elections, assassinated our leaders, and abolished our basic rights as human beings. You own our property, shipped away our jobs, and shredded our unions. You’ve profited off of disaster, destabilized our currencies, and raised our cost of living. You’ve monopolized our freedom, stripped away our education, and have almost extinguished our flame. We are hit… we are bleeding… but we ain’t got time to bleed. We will bring the giants to their knees and you will witness our revolution!

Sincerely,

The Serfs.

We Ain't Got Time To Bleed |

Nice sentiment but it ain't gonna happen.


Not when all it takes is about 20% participation and acceptance from public at large to maintain power and control.

And between the two groups of loyal partisans, the masters have more than enough partisan tools (on the left and the right) to keep this ship of state on its steady course...a course of sinking our economy into the Davy Jones' locker of financial instability.

And, per usual, I am positing that the destruction of the USA's government, and the rape of the middle class by financial machinations is the TRUE AGENDA of the masters.

THEY have the resources to get THEIR CAPITAL out of the USD, because that is exactly what FREE TRADE and the international currency exchange and internationalism of industry makes so very possible..but really only for those with truly BIG CAPITAL. (read: the lower upper class who are still feeling okay are ALSO going down when their nation's currency does)

Most Americans, on the other hand, are much like the serfs of feudal times.

THEIR FATE is tied to the fate of the nation.

They cannot emigrate, they cannot escape, they cannot defend their economy from manipulation because THEY THE PEOPLE do not control our own government...BIG CAPITAL does.

Some of you want to know why the Jews didn't escape Europe when it was obvious that Hitler was rising?

Because they couldn't

They ALSO lacked the resources to leave, and nobody wanted to them in their nations anyway...unless they were already connected to the new adopted homes (Or Einsteins of some kind)

And kids, nobody really wants most the middle class Ameicans, either.

So even if an American familiy still has the grubstake needed to get the hell out, few of them could find a place to land.

What the masters are doing to the USA now, is NOT a new kind of national economic rape.

Big capital has raped and then crashed other national economies and they did very well by doing so, too.

And that's exactly what is happening to our economy, right now.

STop listening to the rhtetoric from either party and start looking at the OUTCOMES of their policies.

If you haven't noticed that their rhetoric does not jibe with the outcomes that they create, then friend start paying attention to DETAILS.

One cannot spend 40 years giving BIG CAPITAL every advantage, foist the cost of those advantages upon the middle class and expect the national econoimy to thrive.

I know some of you truly believe that the RICH are the engine of economic growth but that is simply NOT TRUE.

Wealth is created by working people whose labor is capitalized by the wealthy.

But when ATLAS SHRUGS, there isa no CAPITALISIZATION for workers to work with.

And THAT is what is happening to this economy.

 

[uscitizen]

You can check me out on this if you want but I think we are now just paying off the S&L bailout. The bonds that bailed it out are coming to maturity.

 

[LA RAM FAN]

NEITHER the Republicans nor Democratic administrations seem remotely interested in doing anything about WALL STREET BANKSTERS' crimes

And yet, amaingly, many of you STILL BELIEVE that one party is fundamentally different than the other.

Why?

Well they are, I suppose ...on social issues.

And why is it that they are so different on social issues but so similar on issues like this one?

I'll leave it to you guys to connect those dots.

funny that mad scientist can accept it that neither the demopublicans or the reprocrats are interested in doing anything about the wall street bankers crimes yet he covers his ears and closes his eyes when evidence and facts are presented to him about my user name being the truth.man some people are so scared of government corruption its unreal even though they can ADMIT both parties are corrupt.

 

[LA RAM FAN]

Hey and lets not forget The ratings companies like Moodys who falsely rated the securities high.

delving into that point , we find a complete fox/henhouse infiltration, exempt from the SEC

now one might think, well, so what? and that notion might stand up for internal commerce, yet externally other countries bond raters (like China's, the other big boy on the block) take full advantage of this for monetary manipulation

and as long as we have the best congress the elites can buy, we will continue screwing the valuation/risk/benny shell game pooch for their benifit

Jessie lays it on the line>

You control our world. You’ve poisoned the air we breathe, contaminated the water we drink, and copyrighted the food we eat. We fight in your wars, die for your causes, and sacrifice our freedoms to protect you. You’ve liquidated our savings, destroyed our middle class, and used our tax dollars to bailout your unending greed. We are slaves to your corporations, zombies to your airwaves, servants to your decadence. You’ve stolen our elections, assassinated our leaders, and abolished our basic rights as human beings. You own our property, shipped away our jobs, and shredded our unions. You’ve profited off of disaster, destabilized our currencies, and raised our cost of living. You’ve monopolized our freedom, stripped away our education, and have almost extinguished our flame. We are hit… we are bleeding… but we ain’t got time to bleed. We will bring the giants to their knees and you will witness our revolution!

Sincerely,

The Serfs.

We Ain't Got Time To Bleed |

great post sparky.too bad this truth you posted scares people like mad scientist to death.Jessie nailed it.