Three Cheers for the SEC

[Vast LWC]

Well come on, you have to admit that there are a lot of sheep voters who will be satisfied with only a couple people going down, and will credit the democrats and the administration with some kind of "victory".

That's not partisan, that's just reality. I'd be saying the same shit if it involved republicans, because the same sheep voter mentality applies to those voters too.

Alright, that is a good point in that context.

 

[The T]

Do you actually bother to understand how the world works?

The gov goes from one scapegoat to the next, this is the big plan to 'win' over the public, go after the 'fatcats' on wall street.

Watch the law of unintended consequnces go wild now, its already started:

Stocks tumble as Goldman charged with civil fraud

Yep. And alot of politicians benefitted from Goldman contributions...

 

[Dr Gregg]

I asked a question that has a specific purpose.

Whoever the hell is found guilty and responsible should go to jail for fraud, like the law states.

Obviously you don't want to answer the question.

I answered, I don't care if its one or a few, if they are found guilty, then they should go to jail. If found innocent, then nobody.

Still have no idea what the hell your point is

 

[Paulie]

Whoever the hell is found guilty and responsible should go to jail for fraud, like the law states.

Obviously you don't want to answer the question.

I answered, I don't care if its one or a few, if they are found guilty, then they should go to jail. If found innocent, then nobody.

Still have no idea what the hell your point is

My point is that you'd be completely satisfied if only a couple scapegoats go down for something that anyone with brains knows is widespread among Goldman's upper management, and probably beyond.

Rather than calling for everyone's head, including Blankfein, you'd accept Obama's offer of only a few.

The point is, you're fucking blind.

 

[twogreen2c]

An little unknown financial adviser by the name Steve Cordasco has been speaking of this GS fraud for years on his talk radio show. Now he is predicting and I agree, one or two guys will take the fall for GS. GS owns the White House. They will just get a little slap for this misdoing. The Obama administration needs something to pull up their falling approval ratings. The Obama Administration will push for banking regulations knowing all along what GS and the rest of Wall Street was doing. Politicians got paid off by these big financial institutions. They will now use this GS event as a way to try and save their political careers. The mass media will spin it to give kudos to Obama and the crooked Capitol Hill politicians who will now go after GS. You watch, one or two GS execs will take the fall. Then it will be business as usual as GS lobbies for the cap and trade bill which Obama so loves.

 

[rdean]

I outlined the cause of the collapse here:

http://www.usmessageboard.com/curre...-prospect-of-wider-crackdown.html#post2216650

The thing that has me curious; at what point to neocons stop blaming the collapse on "Freddie/Fannie"? Have we already reached that point? Do they just stop talking about it and move on to another lie? I haven't heard about death panels for a while. Or kill grandma.

Since the major banks paid back their loans, they stopped with the government take over of banks.

Since GM is paying back it's loans 5 years early and expects to post a profit this year, they've stopped calling it "Government Motors".

They refuse to say anything about the tens of billions the government has made from loan interest.

So, where is the next big lie? They seem to do that better than solutions. And they want to run the country? Or run the country into the ground?

 

[Gunny]

The Buzz: SEC deserves praise for taking on Goldman Sachs - Apr. 16, 2010

By Paul R. La Monica, editor at large April 16, 2010: 2:13 PM ET

The Buzz is now on Twitter! Follow me @LaMonicaBuzz

NEW YORK (CNNMoney.com) -- The SEC showed some major teeth Friday. It's about time. And hopefully this won't be the last time the agency bares its fangs.

The Securities and Exchange Commission is going after the biggest of the big on Wall Street. Goldman Sachs.

paul_lamonica_morning_buzz2.jpg

The SEC alleged that Goldman Sachs (GS, Fortune 500) failed to disclose to investors in a pool of subprime mortgages that Paulson & Co., one of the most influential hedge funds in the world, was making bets against the security.

If the SEC's claim is true, this is a major transgression. Even if it turns out that the wrongdoing was the work of one rogue employee -- the SEC specifically named Goldman Vice President Fabrice Tourre -- it is clear that Goldman has some explaining to do and must pay. <more>

Three Cheers indeed. Finally someone is taking action.

Way to go SEC.

Way to go. More meddling from the Fourth Reich.

 

[rdean]

The Buzz: SEC deserves praise for taking on Goldman Sachs - Apr. 16, 2010

By Paul R. La Monica, editor at large April 16, 2010: 2:13 PM ET

The Buzz is now on Twitter! Follow me @LaMonicaBuzz

NEW YORK (CNNMoney.com) -- The SEC showed some major teeth Friday. It's about time. And hopefully this won't be the last time the agency bares its fangs.

The Securities and Exchange Commission is going after the biggest of the big on Wall Street. Goldman Sachs.

paul_lamonica_morning_buzz2.jpg

The SEC alleged that Goldman Sachs (GS, Fortune 500) failed to disclose to investors in a pool of subprime mortgages that Paulson & Co., one of the most influential hedge funds in the world, was making bets against the security.

If the SEC's claim is true, this is a major transgression. Even if it turns out that the wrongdoing was the work of one rogue employee -- the SEC specifically named Goldman Vice President Fabrice Tourre -- it is clear that Goldman has some explaining to do and must pay. <more>

Three Cheers indeed. Finally someone is taking action.

Way to go SEC.

Way to go. More meddling from the Fourth Reich.

Do yo see what I'm talking about? Is this is someone who is representative of the white wing. Their greed nearly ruined the eoncomy. Stopping them from doing it again is meddling, which of course, is just "crazy".

 

[Paulie]

The Buzz: SEC deserves praise for taking on Goldman Sachs - Apr. 16, 2010

By Paul R. La Monica, editor at large April 16, 2010: 2:13 PM ET

The Buzz is now on Twitter! Follow me @LaMonicaBuzz

NEW YORK (CNNMoney.com) -- The SEC showed some major teeth Friday. It's about time. And hopefully this won't be the last time the agency bares its fangs.

The Securities and Exchange Commission is going after the biggest of the big on Wall Street. Goldman Sachs.

paul_lamonica_morning_buzz2.jpg

The SEC alleged that Goldman Sachs (GS, Fortune 500) failed to disclose to investors in a pool of subprime mortgages that Paulson & Co., one of the most influential hedge funds in the world, was making bets against the security.

If the SEC's claim is true, this is a major transgression. Even if it turns out that the wrongdoing was the work of one rogue employee -- the SEC specifically named Goldman Vice President Fabrice Tourre -- it is clear that Goldman has some explaining to do and must pay. <more>

Three Cheers indeed. Finally someone is taking action.

Way to go SEC.

Way to go. More meddling from the Fourth Reich.

Do yo see what I'm talking about? Is this is someone who is representative of the white wing. Their greed nearly ruined the eoncomy. Stopping them from doing it again is meddling, which of course, is just "crazy".

Yeah, it's meddling when they're obviously going to just pick a couple patsies to take the fall while Goldman continues business as usual.

Come talk to me when the whole board and all the officers are locked up, and the entire management of the company is changed over to fresh faces.

The corruption is deeply embedded at that place, and you're living in fantasy land if you think otherwise.

 

[NYcarbineer]

The Buzz: SEC deserves praise for taking on Goldman Sachs - Apr. 16, 2010

By Paul R. La Monica, editor at large April 16, 2010: 2:13 PM ET

The Buzz is now on Twitter! Follow me @LaMonicaBuzz

NEW YORK (CNNMoney.com) -- The SEC showed some major teeth Friday. It's about time. And hopefully this won't be the last time the agency bares its fangs.

The Securities and Exchange Commission is going after the biggest of the big on Wall Street. Goldman Sachs.

paul_lamonica_morning_buzz2.jpg

The SEC alleged that Goldman Sachs (GS, Fortune 500) failed to disclose to investors in a pool of subprime mortgages that Paulson & Co., one of the most influential hedge funds in the world, was making bets against the security.

If the SEC's claim is true, this is a major transgression. Even if it turns out that the wrongdoing was the work of one rogue employee -- the SEC specifically named Goldman Vice President Fabrice Tourre -- it is clear that Goldman has some explaining to do and must pay. <more>

Three Cheers indeed. Finally someone is taking action.

Way to go SEC.

Way to go. More meddling from the Fourth Reich.

Do yo see what I'm talking about? Is this is someone who is representative of the white wing. Their greed nearly ruined the eoncomy. Stopping them from doing it again is meddling, which of course, is just "crazy".

Now the irrational hatred of President Obama will come out all across the pseudo-populist wing of conservatism.

Obama was bad for being for the Wall Street bailout. Now he'll be bad for going after Wall Street.

 

[NYcarbineer]

It is great to see the phoniness of the right erupt right before our eyes.

 

[Dr Gregg]

Obviously you don't want to answer the question.

I answered, I don't care if its one or a few, if they are found guilty, then they should go to jail. If found innocent, then nobody.

Still have no idea what the hell your point is

My point is that you'd be completely satisfied if only a couple scapegoats go down for something that anyone with brains knows is widespread among Goldman's upper management, and probably beyond.

Rather than calling for everyone's head, including Blankfein, you'd accept Obama's offer of only a few.

The point is, you're fucking blind.

Obama's offer? WTF does this have to do with Obama? what's clear is you are a blind partisan hack. I never said a few, I said whoever is responsible. fucking hacks, not even transparant about it. Yes, I'm blind yet here you are making this about Obama and bashing him. Nutjobs

SEC is investigating, NOT obama. give it a rest already with the obama bashing, you idiots

 

[Dr Gregg]

It is great to see the phoniness of the right erupt right before our eyes.

I'm amazed they are so willing to look so stupid and petty and partisan.

 

[KissMy]

Do you actually bother to understand how the world works?

The gov goes from one scapegoat to the next, this is the big plan to 'win' over the public, go after the 'fatcats' on wall street.

Watch the law of unintended consequnces go wild now, its already started:

Stocks tumble as Goldman charged with civil fraud

Did Goldman not in fact rip off it's investors by advising them to buy stocks that THEY KNEW WERE GOING TO FAIL???

Is that not Fraud?

Should the SEC look the other way and let them get away with it?

Seriously man, try to think about what you're saying before posting it.

Cons support corporations over citizens. That worked, for a while, for Mussolini.

Goldman did not rip off its investors or average citizens. Goldman knowingly sold other banks junk paper to qualified investment funds who are responsible for their own research, unlike the unsuspecting public. This is not against the law because brokers do not have fiduciary responsibility to qualified investors. We may want to change some laws now but I do not see how Goldman broke any in that case.

The government should take away the money Goldman got from the bailout of AIG since Goldman either did not research AIG to make sure they could pay their loss or expected the government to back AIG & cover their loss. If it were not for the government bailouts of others Goldman would have gone under, so why did the government save them & now parade out this BS lawsuit around that Goldman will win? Could it be that Goldman has paid off, employed, or will employ many politicians? Welcome to corruptions dog & pony show.

For all the commies jumping up & down due to this lawsuit, the GSEs are still the 800 pound gorilla in the room who bought 80% of the US mortgage market.

 

[Toro]

Actually, the more I read about this today, the less substance I think there are in the charges.

 

[Toro]

Goldman did not rip off its investors or average citizens.

Goldman was almost certainly days away from collapsing as the repo market was drying up and their short-term funding was disappearing. The Fed bailed them out. Effectively, the government backstopped the cash market, nationalized AIG, and created various funding programs to take bad assets off the books of banks, which allowed Goldman to survive. The Fed is keeping rates at 0%, effectively allowing the likes of Goldman (and others) to borrow for free while they buy risky assets earning 4%, 5%, 6% or more, essentially making free money. Today, they are paying their employees on average $800k.

None of this is illegal but people have every right to be furious with Goldman and Wall Street. They helped create this mess, got bailed out by the government, have massively profited from the government's actions and now are paying themselves egregious amounts of money while unemployment is at multi-decade highs.

 

[Paulie]

I answered, I don't care if its one or a few, if they are found guilty, then they should go to jail. If found innocent, then nobody.

Still have no idea what the hell your point is

My point is that you'd be completely satisfied if only a couple scapegoats go down for something that anyone with brains knows is widespread among Goldman's upper management, and probably beyond.

Rather than calling for everyone's head, including Blankfein, you'd accept Obama's offer of only a few.

The point is, you're fucking blind.

Obama's offer? WTF does this have to do with Obama? what's clear is you are a blind partisan hack. I never said a few, I said whoever is responsible. fucking hacks, not even transparant about it. Yes, I'm blind yet here you are making this about Obama and bashing him. Nutjobs

SEC is investigating, NOT obama. give it a rest already with the obama bashing, you idiots

You do understand that the SEC is an agency under the jurisdiction of the executive branch, right? They are an independent government agency, independent meaning that they are not subordinate to a cabinet department. But they are still under executive branch jurisdiction, as are the vast majority of independent government agencies. The SEC can and does operate at the behest of the executive.

It's naive to think that the president would have nothing to do with a move like this, when it has as direct a political affect on him as it does.

This is why YOU are the hack. You take the position that most favors your guy. I look at the situation objectively and take the most RATIONAL position.

But it's ok if you want to pretend that such a significant move as this has nothing to do with the president. Whatever helps you sleep easier.

 

[KissMy]

Goldman did not rip off its investors or average citizens.

Goldman was almost certainly days away from collapsing as the repo market was drying up and their short-term funding was disappearing. The Fed bailed them out. Effectively, the government backstopped the cash market, nationalized AIG, and created various funding programs to take bad assets off the books of banks, which allowed Goldman to survive. The Fed is keeping rates at 0%, effectively allowing the likes of Goldman (and others) to borrow for free while they buy risky assets earning 4%, 5%, 6% or more, essentially making free money. Today, they are paying their employees on average $800k.

None of this is illegal but people have every right to be furious with Goldman and Wall Street. They helped create this mess, got bailed out by the government, have massively profited from the government's actions and now are paying themselves egregious amounts of money while unemployment is at multi-decade highs.

Yea, I also have a major problem with them paying themselves egregious amounts of money while we lend them 0% money & have saved their ass. They should have their asses taxed off until they straighten up.

I like Carl Icahn's plan "say on pay" vote, giving shareholders voting rights to determine executive pay. Most of these banks have the government as major a shareholder who could determine executive pay.

 

[Toro]

I like Carl Icahn's plan "say on pay" vote, giving shareholders voting rights to determine executive pay. Most of these banks have the government as major a shareholder who could determine executive pay.

One of the weaknesses of American capitalism is the level of governance. The board system does not work particularly well in the United States. Shareholders have less power than they should whereas managers can often dictate board composition and agendas at the expense of shareholders. America should look at Scandinavia, where it is much easier for shareholders to fire incompetent and venal executives.

 

[uscitizen]

Our media should be empahsizing the fraud and corruption in America. And not just Fox on democratic corruption.
Corporate corruption as well.