Replies

That guy, John Paulson, is a piece of work. And in bed with Chucky Putzhead Schumer:

Timing of SEC’s Goldman Sachs Fraud Case Was No Coincidence
http://www.rushlimbaugh.com/home/daily/site_041910/content/01125107.guest.html

[Rush] The New York Post on Saturday: “Wall Street Suspects Goldman Charges ‘Not Coincidental’ to Financial Reform Effort.” And there’s an interesting little tie here. John Paulson is the hedge fund guy who was allowed to pick the mortgage-backed securities that Goldman was going to package, and then this guy was allowed to go short on them, he bet that they were going to fail, he bet that whoever bought these as investment vehicles would lose money, and Goldman let him pick part of the portfolio. And he won, or scored a billion dollars when he was right. That’s what all this is about. This guy, John Paulson, not related to Henry, this guy has not been charged at all. He’s the hedge fund guy. Some vice president somewhere in Europe has been charged. But guess who’s in bed with John Paulson? That would be Chuck Schumer. “[Hedge fund billionaire John] Paulson goes to Goldman Sachs and asks the investment bank to create mortgage-backed bonds that he could short. Goldman Sachs agrees, taking a $15 million payment from Paulson for doing so. But Goldman goes a step farther by allowing Paulson to pick the mortgages that would be bundled into bonds — the mortgages that Paulson thought would be most likely to fail. Goldman then sold those tainted, Triple A-rated bonds to unwitting Goldman clients, collecting another hefty fee in the process. Like Paulson, it too placed secret bets that the bonds it had sold to trusting clients would fail.

“Paulson and Goldman are alleged to have created the investment vehicles to fail — they went short and Goldman got to sell them to investors who were long.” Some might say that this is a little conflicting. “John Paulson, the hedge fund short-artist in the middle of today’s SEC suit against Goldman Sachs, recently helped raise money for Sen. Charles Schumer (D., N.Y.), referring to the Senator in a fund-raising letter as ‘one of the few members of Congress that has consistently supported the hedge fund industry.’” You know who else was very close to Madoff was Chuck-U Schumer. So Senator Schumer is theoretically very close here to John Paulson and Bernie Madoff. But, my friends, a tough sell, because, remember, the Democrats are for the little guy. The Democrats are out there looking out for the little guy. Oh, yeah. “Sen. Chuck Schumer (D-N.Y.) Monday led a long list of officeholders and groups expected to give up more than $430,000 in political contributions from Bernie Madoff and his family... ‘My money, I’m returning,’ Schumer said... The $100,000 Madoff donated to the Democratic Senatorial Campaign Committee, run by Schumer until last month, should also be returned, but ‘that is their decision,’ Schumer said... A spokesman for the committee, now headed by Sen. Robert Menendez (D-N.J.), said, ‘We’re reviewing it.’” But, remember, the Democrats are for the little guy, folks. [snip]

[Side note: Trying to defend Clinton’s definition of ‘alone’, then-representative Schumer tried to argue that the sky wasn’t necessarily blue but arguably pink from some peoples’ perspective. Schumer is almost as fanatical about protecting infanticide as Obama himself. It all rolls together if you think about it.]