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Goldman Sachs bet on housing meltdown -- and won (What a surprise!!)
MamiHerald ^
| 11/01/2009
| Greg Gordon
Posted on 11/01/2009 7:02:54 AM PST by devane617
Goldman's sales and its clandestine wagers, completed at the brink of the housing market meltdown, enabled the nation's premier investment bank to pass most of its potential losses to others before a flood of mortgage defaults staggered the U.S. and global economies.
(Excerpt) Read more at miamiherald.com ...
TOPICS: Business/Economy; Front Page News; News/Current Events
KEYWORDS: goldmangov; greedybastards; housing; secretgovernment
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Who would have thought GS would be involved in stuff like this? This is a good read....
1
posted on
11/01/2009 7:02:56 AM PST
by
devane617
To: devane617
maybe because GoldmanSachs knew about the fraud in the first place. The criminals on Wall Street know what’s going on and make money on having inside information. The sad thing is they are helped by their pol buds in DC.
2
posted on
11/01/2009 7:05:47 AM PST
by
MAD-AS-HELL
(Hope and Change. Rhetoric embraced by the Insane - Obama, The Chump in Charge)
To: devane617
GS won only because Washington (we) bailed out their counter parties.
3
posted on
11/01/2009 7:09:28 AM PST
by
rsobin
To: rsobin
Goldman Sachs is just as corrupt as ACORN.
4
posted on
11/01/2009 7:14:18 AM PST
by
Ev Reeman
To: rsobin
To: devane617
That’s what I call an excerpt!
6
posted on
11/01/2009 7:19:44 AM PST
by
1rudeboy
To: 1rudeboy
This comment pretty well sums it up.
rogermia305 (11/01/2009 06:57:14 AM):
“Goldman Sachs is the biggest contributor to the Democratric party. Obama works for them, and he is easy to manipulate. They are untouchable at this time. They don’t care about main street, and will keep stealing, and getting away with it. I’m sorry I voted for him.”:
7
posted on
11/01/2009 7:23:03 AM PST
by
paristwelve
(Feeling sorry for things is just an excuse for not celebrating your own happiness.)
To: MAD-AS-HELL
...maybe because GoldmanSachs knew about the fraud in the first place. The criminals on Wall Street know whats going on and make money on having inside information. The sad thing is they are helped by their pol buds in DC...Exactly. I remember at the height of the RE boom (around 2005), stuck in a remote corner of the newspaper was a story about Citibank lobbying Congress to reform bankruptcy laws.
I recall wondering why they were doing that when everything seemed to be going great in the market and there was no bankruptcy problems.
They knew it was going to blow up.
8
posted on
11/01/2009 7:28:15 AM PST
by
FReepaholic
(Give me ambiguity or give me something else!)
To: devane617
``The Securities and Exchange Commission should be very interested in any financial company that secretly decides a financial product is a loser and then goes out and actively markets that product or very similar products to unsuspecting customers without disclosing its true opinion,'' said Laurence Kotlikoff, a Boston University economics professor who has proposed a massive overhaul of the nation's banks. ``This is fraud and should be prosecuted.'' Does the US government disclose it's true opinion of the ponzi scheme treasurary bills it sells? They are marketed as super safe, can't lose places to store wealth, yet it's clear a huge unprecedented default is coming.
9
posted on
11/01/2009 7:30:53 AM PST
by
Reeses
To: devane617
a five-month McClatchy investigation has found that Goldman's failure to disclose that it made secret, exotic bets on an imminent housing crash may have violated securities laws.OMG! That's funny.
The Securities and Exchange Commission should be very interested in any financial company that secretly decides a financial product is a loser
Two in a row. You have to assume that any product anyone wants to sell you is a loser, otherwise, they'd keep it themselves.
That reminds me, the dollar is about to become worthless, send me your worthless dollars to buy my gold. LOL!
10
posted on
11/01/2009 7:31:49 AM PST
by
Toddsterpatriot
(Math is hard. Harder if you're stupid.)
To: devane617
good thing for them that bankers and senators,
and their spouses, are above the law forever.
11
posted on
11/01/2009 7:42:29 AM PST
by
Diogenesis
("Those who go below the surface do so at their peril" - Oscar Wilde)
To: paristwelve
It was the Democrat Schumer who recommended Hank Paulson to the Bush’s administration. Oh George always trying to please the left by being obliged to being non-partisan hired old Hank on and gave him the job. George looked like a deer caught in headlights when the $hit hit the fan. He was so pre-occupied with protecting the country since 911, that he fell to recognize along with everyone else the daisy chain relationship from the White House to Goldman to Congress with info. flowing to bundlers, via W.H. then to the Obama campaign. Great coup in the beginning of the overthrow of the United States Financial Economy by the new liberal communist democratic administration who has now taken over the Democratic party.
To: Toddsterpatriot
You are still in here shilling for Goldman Sachs.
13
posted on
11/01/2009 7:49:09 AM PST
by
M. Espinola
(Freedom is never "free")
To: M. Espinola
I thought I was shilling for the Fed?
14
posted on
11/01/2009 7:51:04 AM PST
by
Toddsterpatriot
(Math is hard. Harder if you're stupid.)
To: Toddsterpatriot; All
15
posted on
11/01/2009 8:13:04 AM PST
by
Leisler
(We donÂ’t need a third party we need a conservative second party.)
To: Leisler
16
posted on
11/01/2009 8:14:40 AM PST
by
Toddsterpatriot
(Math is hard. Harder if you're stupid.)
To: rsobin
GS won only because Washington (we) bailed out their counter parties. BINGO!!!!
What would have been their balance sheet, without the par payments funneled from AIG and others. Tax payers are such suckers. Now I'll go look in the mirror.
17
posted on
11/01/2009 8:25:42 AM PST
by
org.whodat
(Vote: Chuck De Vore in 2012.)
To: paristwelve
And Goldman was not in the meeting with Paulson and democraps/republicans trying to get Tarp approved and Jorge did not sign it. Damn did not know obamma was in charge then.
18
posted on
11/01/2009 8:28:53 AM PST
by
org.whodat
(Vote: Chuck De Vore in 2012.)
To: Leisler
Probably got to go to parties with Madoff and sit at the controls of the de’bull. Madoffs boat!
19
posted on
11/01/2009 8:30:57 AM PST
by
org.whodat
(Vote: Chuck De Vore in 2012.)
To: classified
LOL, foil cap alert!!!
20
posted on
11/01/2009 8:32:11 AM PST
by
org.whodat
(Vote: Chuck De Vore in 2012.)
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