Things that make you go HMMMMM...

Discussion in 'Economy' started by Paulie, Jul 17, 2009.

  1. Paulie
    Offline

    Paulie Platinum Member

    Joined:
    May 19, 2007
    Messages:
    31,523
    Thanks Received:
    4,848
    Trophy Points:
    1,130
    Ratings:
    +15,351
    1st rule of politics: FOLLOW THE MONEY

    Henry Paulson is given the postion of Treasury Secretary by Bush, but Obama Keeps him when he gets in.

    Paulson was the Chief Executive of Goldman Sachs.

    When the government bailouts came about, Lehman Brothers, a major competitor of Goldman Sachs, was not given any money, and went under.

    AIG was one of the first to be bailed out...and they were allowed to pay back all their debts to one company...guess who? Tada...Goldman Sachs, which it did in FULL, with the taxpayer bailout money.

    When the time for TARP came about, Paulson placed another member of the executive board of Goldman Sachs, Stephen Friedman, in charge of the money.

    However, it is illegal for an exec to hold stocks in that company while he holds the government position. Paulson, a former exec of Golman Sachs, issues him a waiver which allows him to keep his stocks. Not only did this exec keep his stocks, but he bought 52,000 more shares of it while holding his goverment position in charge of TARP.

    The FED, responsible for TRILLIONS of dollars in bailout money, is protected by "Bankers Privildge" which grants them privacy and allows them to remain silent as to where the TRILLIONS of taxpayer dollars have been spent, or who received the money.

    Goldman Sachs was the 2nd higest contributor to Obama coming in at near $1 million.

    Goldman Sachs revenue increased 64% from 2008-2009.

    Is this what Obama was talking about when he spoke of a transparent government???

    Hmmmm....
     
    • Thank You! Thank You! x 1
    Last edited: Jul 17, 2009
  2. strollingbones
    Offline

    strollingbones Diamond Member

    Joined:
    Aug 18, 2008
    Messages:
    65,592
    Thanks Received:
    15,608
    Trophy Points:
    2,190
    Location:
    chicken farm
    Ratings:
    +31,892
    i was listening to a discussion this morning on npr..where the lady with the gravel voice is the host...talking about how did they have these profits? and was it insider trading etc.
     
  3. Paulie
    Offline

    Paulie Platinum Member

    Joined:
    May 19, 2007
    Messages:
    31,523
    Thanks Received:
    4,848
    Trophy Points:
    1,130
    Ratings:
    +15,351
    Without researching deeply to figure it out, I'd say the huge influx of investments while the market was bottoming in the beginning of the year, coupled with the bailout money being used to keep their cost of capital low, and other institutions paying their debt off to them with other bailout money, and Lehman Bros going under which probably gave a lot of business to Goldman, all helped to boost their profit margin.

    Goldman runs this country if you ask me. They're untouchable.
     
  4. strollingbones
    Offline

    strollingbones Diamond Member

    Joined:
    Aug 18, 2008
    Messages:
    65,592
    Thanks Received:
    15,608
    Trophy Points:
    2,190
    Location:
    chicken farm
    Ratings:
    +31,892
    sure that and more....seems that goldmans has been very user friendly to the obamas and others..they are trusted...so there is no need for transparency or what i would call accountablity....it is still a situation where taxpayers are being screwed and not getting a kiss....the banks which were failing in amazing record numbers are not making record profits....hell drug dealers have more accountablity
     
  5. Valerie
    Offline

    Valerie Gold Member

    Joined:
    Sep 17, 2008
    Messages:
    24,624
    Thanks Received:
    5,980
    Trophy Points:
    290
    Ratings:
    +10,295

    So true, Paulie! :cool:
     
  6. Paulie
    Offline

    Paulie Platinum Member

    Joined:
    May 19, 2007
    Messages:
    31,523
    Thanks Received:
    4,848
    Trophy Points:
    1,130
    Ratings:
    +15,351
    By the way Bones, as far as insider trading goes...I'd say that waiving Friedman to allow him to buy 52,000 more shares of Goldman was a prime example of it, considering they obviously knew Goldman was going to become quite profitable again in the near future. Why else issue the waiver, and CERTAINLY why else buy 52,000 more shares of a company that was otherwise in the questionable category of BANK at the time when just about all of them needed bailout money to stay afloat?

    Obama keeping Paulson in the position long enough to make that all happen tells me that Obama was in on it too, and obviously Bush has no less guilt in the matter either.

    We elect crooks into the highest office in the land. We're a fucking country of retards.

    The sad part is that there's still tons of people holding out for hope and change :rolleyes:
     
  7. strollingbones
    Offline

    strollingbones Diamond Member

    Joined:
    Aug 18, 2008
    Messages:
    65,592
    Thanks Received:
    15,608
    Trophy Points:
    2,190
    Location:
    chicken farm
    Ratings:
    +31,892
    what is that saying...allow idiots to vote they will elect the biggest idiots....now its just a debate on how long we have been doing this
     
  8. strollingbones
    Offline

    strollingbones Diamond Member

    Joined:
    Aug 18, 2008
    Messages:
    65,592
    Thanks Received:
    15,608
    Trophy Points:
    2,190
    Location:
    chicken farm
    Ratings:
    +31,892
    martha stewart went to jail for doing what everyone would do under the same circumstances....but this is just bold faced....you cant even refer to them as pick pockets anymore...they are more....looters at this point
     
  9. Paulie
    Offline

    Paulie Platinum Member

    Joined:
    May 19, 2007
    Messages:
    31,523
    Thanks Received:
    4,848
    Trophy Points:
    1,130
    Ratings:
    +15,351
    I agree, when faced with information that could 100% positively make you big money, it would be quite hard not to act on it. However, if it happens to be illegal for you to do so, then I don't accept any excuses.

    If it's against the law, it's against the law. Being a libertarian, I still advocate those kinds of laws. Someone involved in a particular company shouldn't be able to act on information that the common investor has zero access to. No one shareholder should be any more privvy to information than any other, no matter how many shares they own.
     
  10. dilloduck
    Offline

    dilloduck Diamond Member

    Joined:
    May 8, 2004
    Messages:
    53,240
    Thanks Received:
    5,552
    Trophy Points:
    1,850
    Location:
    Austin, TX
    Ratings:
    +6,403
    This thread is far to real to continue. Can we please get a moderator to lock it ?
     
    • Thank You! Thank You! x 1

Share This Page