Simon Johnson: Goldman Is About To Be Blacklisted And Possibly Banned In Europe

http://www.businessinsider.com/simon-johnson-goldman-is-about-to-be-blacklisted-and-possibly-banned-in-europe-2010-2 ^

[blam]

Simon Johnson: Goldman Is About To Be Blacklisted And Possibly Banned In Europe

Joe Weisenthal
Feb. 15, 2010, 6:45 AM

MIT professor Simon Johnson raises some provocative scenarios in regards to Goldman's participation in Greece's scheme to obfuscate its debt levels.

In particular, he expects a full audit of the company, and perhaps some kind of ban:

If the Federal Reserve were an effective supervisor, it would have the political will sufficient to determine that Goldman Sachs has not been acting in accordance with its banking license. But any meaningful action from this direction seems unlikely.

Instead, Goldman will probably be blacklisted from working with eurozone governments for the foreseeable future; as was the case with Salomon Brothers 20 years ago, Goldman may be on its way to be banned from some government securities markets altogether.
If it is to be allowed back into this arena, it will have to address the inherent conflicts of interest between advising a government on how to put (deceptive levels of) lipstick on a pig and cajoling investors into buying livestock at inflated prices.

[snip]

[Sleeping Freeper]

"Goldman will probably be blacklisted from working with eurozone governments"...

Goldman Sachs is a criminal enterprise... but one of Obama's favorites....

[HiTech RedNeck]

They Greeced the wrong palms!

[ClearCase_guy]

I suppose I’m really reaching, but this seems momentous. It reminds me of the bankruptcy of Lehman Brothers. A sign that a great financial power was, in fact, rotten and hollow.

[gussiefinknottle]

Wolfram and hart.

[sunmars]

That will have knock on effects in every arena if that happens.

[ConservativeMind]

I would love to see Goldman Sachs go under and all the management put in chains for life.

[sunmars]

hehe, I loved watching Angel but probably you are not far off the mark.

[hennie pennie]

o.m.g. *ping*

[9YearLurker]

Or they palmed the wrong Greece!

[Travis McGee]

"The logic of the conspiracy theorists in this regard is, of course, impeccable: Goldman alumnus Josh Bolten runs the White House, while his former boss, Hank Paulson, runs the Treasury. They both speak regularly to former Treasury Secretary Bob Rubin, now over at Citigroup, who ran Goldman before Paulson and who keeps Paulson and Bolton dangling like puppets on a string. They all supposedly touch base with the heads of the Italian and Canadian central banks—both Goldman alumni—and with Robert Zoellick, head of the World Bank, ex Goldman. What's more Paulson is now getting his advice on how to handle the crisis from Ken Wilson, the recently retired Goldman partner and financial-institutions M&A banker, who Paulson just recruited to Washington to help him out. Already at Treasury were Goldman alumni Dan Jester, Anthony Ryan, David Nason and Bob Hoyt, the department's general counsel. And—the conspiracy crowd can't help but point out—Neel Kashkari, 35, a former vice-president at Goldman who Paulson recruited as assistant secretary of international affairs in 2006, has just been appointed—by Paulson—to run, on an interim basis, the new $700 billion bailout fund."

~~William Cohan, "Does Goldman Sachs Really Rule the World?" October 2008

[parsifal]

Hey, I predicted this on FR today! Another one I got right. Just wait until the “Operation Albatross” story I broke comes true.

parsy, the clearvoyeur, or whatever that word is

[parsifal]

Mega OUCH!

parsy, the envious

[dennisw]

Robert Zoellick (Ex-Goldman) has been pimping free trade for decades. The scum of the earth on Wall Street have been pimping free trade for decades because they make big money off all the money flows and de-industrialization of America. They moved America to a degenerate and faggy WalMart economy of consumers because there was more money in it

The same Wall Street scum who crashed our financial system with derivatives have been killing off American production and industry for years because they made money doing it. If it was up to me they would be marched to the gallows

[stephenjohnbanker]

Goldman Sachs doesn’t own the EU, like they own Obama.

[Travis McGee]

They may yet be, if we can extradite them from the countries they own.

[Lurkina.n.Learnin]

Have you got a link to that Operation Albatross story?

[hennie pennie]

Really? It was my impression that Goldman Sachs owns everything and everybody!!

[stephenjohnbanker]

“Really? It was my impression that Goldman Sachs owns everything and everybody!!”

Not just yet ;-)

[flash2368]

“I would love to see Goldman Sachs go under and all the management put in chains for life.”

Could not happen to a more deserving den of thieves!