Posted on 04/16/2010 8:04:24 AM PDT by quesney
Edited on 04/16/2010 8:18:06 AM PDT by Admin Moderator. [history]
Goldman Sachs, which emerged relatively unscathed from the financial crisis, was accused of securities fraud in a civil suit filed Friday by the Securities and Exchange Commission, which claims the bank created and sold a mortgage investment that was secretly devised to fail.
(Excerpt) Read more at nytimes.com ...
Rahm Emanuel’s close friends who run Magnetar Capital packaged and sold between 30 and 60% of all CDO’s in the boom years of 2005 to 2007, and they purposefully packaged tham ALL to fail.
Yet Magnetar Capital and Rahm Emanuel have been NOT ONCE mentioned in the LSM over the largest destruction of private household wealth in the history of the country.
Goldman Sachs is the banking arm of the Dim party - having given us such stars as Rubin, Corzine and September Surprise Paulson.
I predict after the November elections, this will all go away quietly.
wait til the hearings start after the Republicans take over Congress in November!
Are Hank Paulson and John Paulson related? Does anyone know?
After a weekend of hearing “This is not that bad” from the financial talking heads, the stock will be bid back up on Monday ... thats when I will start looking at some Jan12 put leaps ... maybe the 150’s ...
You are absolutely right ... there will be some large lawsuits coming.
There’s a sharp rise in AIG stock price going on right now. Could (hope of) proof of fraud at GS and other houses be causing this?
Did Soros short Goldman? (inside trading?)
No the reason it is civil fraud and not criminal is precisely why they gave so much to him and the dems.
And how many Goldman Sachs employees have been given job appointments by Obama?
Thanks. What is Citi stock doing right now? If it’s rising, it will tell us alot. Soros and Paulson have taken large stakes in Citi recently.
Well, if Goldman committed fraud, AIG may be off the hook for some of the CDS money they owe them. Just a guess.
ping
I expect the suit to be withdrawn as soon as Goldman reminds Obama of the tens of millions in campaign contributions they gave him.
Ahhhh, be ware of the odds of March (or in this case, the evens of April).
What legislation is before congress in the next few weeks? BANK REFORM! Say it with me now folks! BANK REFORM! Too big to fail and new powers to the regime!
Goldman has enough dirty on the politicians to make these charges go away, and the politicians know it. Manufacture a “crisis”, charge them with the civil fraud, push through the legislation that the “people” want on their divided common man vs. rich wall street, and then...poof, magically the charges get settled for a nice cool 10 million or 20, who cares. Goldman will pay their “penalty” promise not to “do it again” and make that 10 or 20 mil back by lunch time and their 1:00PM tee time!
Citi is down ~ .2 right now. I really doubt Soros or anybody had any foreknowledge of this.
That’s what I was thinking also, but I’m not very smart when it come to the market.
Citi is down about 9%.
I was counting seconds 'till someone brings the name of Taibbi, one of the biggest frauds that excite capitalism haters. He has quite a following here on FR, where many "conservatives" immensely dislike capitalism.
Apparently, you are one of them.
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