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Readers know that I am not a subscriber to Plunge Protection Team (PPT) theory. However, I am open to the idea that it is possible for Broker Dealers or Bank Holding Companies to be trading their own accounts ahead of customer accounts and/or advising clients (or the public) one way (and trading the other), on purpose.
That is not a direct accusation. Instead it is a statement of what is possible due to lack of sufficient separation between trading groups, advisory groups, and a myriad of hedge funds sponsored by the broker dealers and bank holding companies.
Originally posted by kosmicjack
Time to break up Goldman...
Readers know that I am not a subscriber to Plunge Protection Team (PPT) theory. However, I am open to the idea that it is possible for Broker Dealers or Bank Holding Companies to be trading their own accounts ahead of customer accounts and/or advising clients (or the public) one way (and trading the other), on purpose.
That is not a direct accusation. Instead it is a statement of what is possible due to lack of sufficient separation between trading groups, advisory groups, and a myriad of hedge funds sponsored by the broker dealers and bank holding companies.
I love Mish!
The government bailout of AIG, at more than $180 billion so far, has primarily gone to pay off AIG's credit default swap obligations to counterparty gamblers Goldman Sachs, Citibank, JP Morgan Chase and Bank of America, the banks who believe they are "too big to fail". In effect, these institutions today believe they are so large that they can dictate the policy of the federal government. Some have called it a bankers' coup d'etat. It definitely is not healthy.
Geithner and Wall Street are desperately trying to hide this dirty little secret because it would focus voter attention on real solutions. The federal government has long had laws in place to deal with insolvent banks.
The Federal Deposit Insurance Corporation (FDIC) places the bank into receivership, its assets and liabilities are sorted out by independent audit. The irresponsible management is purged, stockholders lose and the purged bank is eventually split into smaller units and when healthy, sold to the public. The power of the five mega banks to blackmail the entire nation would thereby be cut down to size. Ooohh. Uh Huh?
Over the past few years, people from Goldman Sachs have assumed control over large parts of the federal government. Over the next few they might just take over the whole darn thing.
UPDATE 9-22-08 Goldman is going to become a bank holding company and former Goldman CEO Paulson is about to become an American oligarch. Details here.
UPDATE 10-2007 Goldman Sachs becomes bank holding company on September 21. On October 6, Treasury Secretary and former Goldman head signs tax rule changes giving huge tax benefits to bank holding companies.
UPDATE 10-2008-Neel Kashkari named Treasury Interim Assistant Secretary for Financial Stability is a former Goldman Sachs man.
UPDATE 12-04-2008-Word has leaked that Gerald Corriagan, the former head of the Federal Reserve Bank of New York, is being tapped by Goldman Sachs as chairman of its newly created bank holding company.
UPDATE 1-18-2008 President-elect Barack Obama announces that his choice the head the CFTC is former Goldman exec. Gary Gensler.
He messed up by using Goldman Sachs in his domain name.
GS can stop that. Easily.
They don't care what some crazy guy rants about.
Originally posted by burntheships
reply to post by ranhome
I am not doubting your occupation...however the fact that he is using part of thier name, coupled together with the number string 666 could be defended easliy by a claim of parody. I am sure any attorney in that field would be familiar with that angle. For your education...a video.
[edit on 14-4-2009 by burntheships]
[edit on 14-4-2009 by burntheships]
According to the nonprofit Electronic Frontier Foundation's section on intellectual property rights and bloggers, "nominative fair use" of a company's trademark, even in the context of complaints about a company, "is permitted if using the trademark is necessary to identify the products, services, or company you're talking about, and you don't use the mark to suggest the company endorses you."
Morgan calls his blog an "open forum for facts and discussion about what part Goldman Sachs and their executives played in the current Global Economic Crisis."