Those are all insignificant in relation to the prime cause of the bubble.
It's all laid out very clearly in Tom Woods' excellent book:
Posted on 04/16/2010 8:49:07 AM PDT by Sleeping Freeper
Exactly.
LOL!!!!
So Goldman Sachs - how’s that Hope and Change working out for you?
You getting you 900k of Obama donation worth? :)
Interesting...Obama throws Goldman under the bus. Goldman gave heavily and mightily to Odumbo’s campaign coffers.
We will see how this all turns out...but you can bet the head of the snake will come out smelling like a rose. And...Goldman Sachs is THE head of the snake.
I bet that Goldman Sucks are busy shorting their own shares.
The reason why I despise Goldman is that they’re crooks, frauds and thimbleriggers.
An honest question, but one that has already long since been answered:
http://www.cnbc.com/id/27321998/S_P_Officials_We_d_Do_a_Deal_Structured_by_Cows
Ditto.
And here’s my cynical take on why this SEC action is happening now:
The Kenyan sees his polling numbers dropping like an anvil off a rooftop... so how to prop them up? He needs something that can be done without waiting for Her Highness Nancy and the Mormon Mafia’s boy Harry to act... something that the executive branch could do unilaterally....
I can almost see the wheels spinning in his Harvard-educated mind... “What to do? Oh, I know... I could enforce some laws! ...
But I need to pick on someone that everyone hates. Let’s see... child molesters. Almost everyone hates kiddie-diddlers. But there aren’t enough kiddie diddlers out there to prop up my polls numbers... and diddling little kids isn’t a federal crime, so those damned Republicans will start asking anbout jurisdiction. And then the damn courts will toss it out... no, we’ll have to find someone other than child molesters. Hmmmm.”
“OH! I know! Everyone HATES the banks. Let’s open up a can of whoop-ass on the most hated bank in the world... Goldman Sachs. “
And here we are, much later than these charges could have been issued.
How convenient that there is no Camp 3 blaming Congress, The SEC itself, ACORN, the CRA, and the other 'real issues'!!! The camp 1 v 2 game is pure class envy tripe!
What’s wrong with cows?
I guess my question was rhetorical. I know the ratings agencies were walking lobotomies.
Those are all insignificant in relation to the prime cause of the bubble.
It's all laid out very clearly in Tom Woods' excellent book:
I guess I have to say it again. There is a Camp 3 and I addressed it previously.
There comes a point of saturation after which the lethargy of the the legislative branch, having been been repeatedly informed and shown clear, undeniable evidence of the massive criminal fraud behind the foreclosure crisis, can only be viewed as tacit approval and complicit aiding and abetting of the criminal fraud itself.
It is very concerning that elected officials may be incriminating themselves as accessories after the fact should they vote in favor of FL HB1523 and FL SB2270.
Unlawful and false affidavits of indebtedness, parties filing foreclosure who are not parties to the transaction, false endorsements and/or allonges that merely contain a stamp on a blank piece of paper with no identifying features of the property it claims to attach itself to, and mere copies of purported documents being passed off as original documents.
Is it possible to walk into a bank with a copy of a check and expect the teller to cash it- of course not. A copy of a check is no more negotiable than a copy of a promissory note. I have seen assignments of mortgage that have so much white sticky strips all over the face of the document where there is writing on top and underneath the white strips, assignments of mortgage that state BOGUS as the grantor, and assignments of mortgage that have witnesses signing as a completely different name than the typed name under the signature line.
In addition, if, between 2001 and 2007, you or anyone in your family signed a mortgage backed promissory note, I urge you to hire any of the top fraud examiners in your state to review what may be an eye opening experience. Sometimes, personal experience is the best educator.
All of the above mentioned items are fraudulent. From this point going forward, legislators are hereby noticed that that there is enormous fraud occurring on practically each and every foreclosure filed against homeowners each and every day.
By ignoring the rampant fraud perpetrated by illegal parties, legislators automatically become accessories after the fact which is a crime. By voting in favor of HB1523 and SB2270 legislators are a party to the fraud which is a prosecutable offense.
Furthermore, legislators eagerness to sign their names to a bill that will literally result in extraordinary harm to their constituents is causing red flags to go up that they personally may have an undisclosed relationship with the parties pushing so hard to get these bills passed so quickly.
http://www.foreclosurehamlet.org
Ah. Sorry, I’m kinda running on a few hours’ sleep today and your wit sailed cleanly over my head...
As for cows: I like them better than many people, whether they’re on my plate or in my backyard.
Oh boy. The wheels are coming off the well oiled global bankster machine. A shake down for a shake down.
First of all, you should all hope that GS does not face criminal charges or collapse as they are one of the few financial institutions in the world who actually know what to do with money and if they collapse...look out below.
Secondly, if you are angry, direct your anger at the Federal Gov’t. It was the repeal of the Glass Steagall Act which allowed the banks and brokerages to play in the same sand box and cross into each other’s businesses. Then because of the Community Reinvestment Act, you had the gov’t required expansion of the mortgage industry which then fueled the creation of CMO’s (collaterized mortgage obligations) & CDO’s (collateralized debt obligations)and many of the other derivatives. If the individual mentioned in some of these articles did commit fraud or a crime, then he should be prosecuted to the fullest extent of the law. I would just like to know when the same standard is going to be held to those in DC?
And finally, it’s my opinion that GS is being thrown under the bus in order to distract from the Healthcare mess so that the administration can make its case for the financial reform package...another disaster. Do any of you want Tim Geithner or any single individual in Wash. D.C. to have the power to deem any business too big to fail with out any other input or judicial review? One individual deciding the fate of an entire bank, company or business entity?
The Obama administration kissed up to GS to get elected and now they are throwing them in the trash heap. Think about that for a minute.
Watch this and then we can all shed a collective tear for GS.
http://www.youtube.com/watch?v=nZ6lPaiKmwg
I’m sobbing in my beer over here. Honest. Poor guys. ;)
Thanks...I read the comments but the article seems not available to me. Tell me what happened in the court if you have time. What do you think?
Snip>
“The pure volume of foreclosures has a tendency perhaps to encourage sloppiness, boilerplate paperwork or a lack of thoroughness” by attorneys for banks, said Judge Tepper of Florida, in an interview. The deluge of foreclosures makes the process “fraught with potential for fraud,” she said.
At an unrelated hearing in a separate matter last week, Anthony Rondolino, a state-court judge in St. Petersburg, Fla., said that an affidavit submitted by the David Stern law firm on behalf of GMAC Mortgage LLC in a foreclosure case wasn’t necessarily sufficient to establish that GMAC was the owner of the mortgage.
“I don’t have any confidence that any of the documents the Court’s receiving on these mass foreclosures are valid,” the judge said at the hearing.
A spokesman for GMAC declined to comment and a lawyer at the David Stern firm declined to comment.
Snip>
Hi Sara, here’s a better link...
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