U.S. Accuses Goldman Sachs of Fraud [update]

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posted on Apr, 16 2010 @ 09:51 AM
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U.S. Accuses Goldman Sachs of Fraud


www.nytimes.com

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.

(visit the link for the full news article)



[edit on 30-4-2010 by Maxmars]




posted on Apr, 16 2010 @ 09:51 AM
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Seems that the press is finally catching up to us here on the whole "corrupt" banking vehicles and self-serving financial institution business.

While it may seem like no big surprise to us, perhaps more will realize that a scam, no matter how you paint it, is still a scam.

Or do any of you think that the GS 'strategy' we see (in hindsight) was a legitimate form of commerce, in keeping with the social contract... etc. etc. etc.

www.nytimes.com
(visit the link for the full news article)


+38 more 
posted on Apr, 16 2010 @ 09:54 AM
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OK, if you want to be honest, YOU BETTER CHARGE THEM WITH CONSPIRACY TO DESTROY TWO SOVEREIGN NATIONS... the US AND GREECE.

Also, CHARGE PAULSON, BERNANKE, BUSH, OBAMA, MCCAIN, CLINTON, ANYONE WHO RECEIVED MONEY FROM THOSE SCUMBAGS AND PASSED LAWS TO RELAX BANK REGULATIONS...

Those pieces of filth need to go to 40$ and below/share.

Otherwise it's a whitewash.

[edit on 16-4-2010 by Vitchilo]



posted on Apr, 16 2010 @ 10:11 AM
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Originally posted by Vitchilo
OK, if you want to be honest, YOU BETTER CHARGE THEM WITH CONSPIRACY TO DESTROY TWO SOVEREIGN NATIONS... the US AND GREECE.

Also, CHARGE PAULSON, BERNANKE, BUSH, OBAMA, MCCAIN, CLINTON, ANYONE WHO RECEIVED MONEY FROM THOSE SCUMBAGS AND PASSED LAWS TO RELAX BANK REGULATIONS...

Otherwise it's a whitewash.


Lets just hint at honesty and toss the heads of these grfts in jail the CEO COO, etc.

This is the final straw as far as Gietner is concerned.

Perhaps now people will stop blaming eachother and realize they created it that way.

Why you ask? Simple, so they could get more money now and keep flipping their investment. They made money on the sale and multiple repackaging any loss they write off and get bailed out for once the bailout was established under Bush it became a cancer. The banks found they could continue fraudulent finance and not worry about loss. This unturned creates the perpetual bubble state we live in today. While all these money grubbing criminals from banks to big pharma to monster corporations draining all the dollars away .



[edit on 16-4-2010 by ISHAMAGI]


+2 more 
posted on Apr, 16 2010 @ 10:17 AM
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I've written extensively on Goldman and how they do business.

Here's a thread I authored a while back on the subject. There's a lot of information in this thread:

www.abovetopsecret.com...



posted on Apr, 16 2010 @ 10:18 AM
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Yikes!

this is going to get interesting

wonder who they bring down with them..
JPM and friends too?



posted on Apr, 16 2010 @ 10:20 AM
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also posted here:

news.bbc.co.uk...


great news...but probably means theres a larger chance of war breaking out somewhere real soon..



posted on Apr, 16 2010 @ 10:24 AM
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Of course gold tanks too with this

Just as I get in with my .1 lot

This is buuuulllllshiiiiiiiiiiiiiiiiiiiiiiiiiizzz

____________


Could be a good buying opp. though if this is all "overstated" somewhat..



posted on Apr, 16 2010 @ 10:28 AM
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I think the government needs to step in and break the big banks up. They have grown to big and powerful to still be a legit business.

I might be a capitalist, but the financial sector is one that I firmly believe needs to be neutered. Money institutions are one of those things that should have major competition all the time. Once you reach a certain level of profits it's time for you to get broken up.

This seems more like a move to try to quell the populist outrage.



posted on Apr, 16 2010 @ 10:28 AM
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Originally posted by GreenBicMan
Of course gold tanks too with this

Just as I get in with my .1 lot

This is buuuulllllshiiiiiiiiiiiiiiiiiiiiiiiiiizzz

____________


Could be a good buying opp. though if this is all "overstated" somewhat..


why would gold go down with this?



posted on Apr, 16 2010 @ 10:33 AM
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reply to post by alienesque
 


Dollar strength = Equities Falling



posted on Apr, 16 2010 @ 10:37 AM
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Originally posted by GreenBicMan
reply to post by alienesque
 


Dollar strength = Equities Falling


seems you were right..although gold seems to have stopped falling for now...

boy im stupid..i dont even understand why such a story would strengthen the dollar



posted on Apr, 16 2010 @ 10:44 AM
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Gold is a place to store wealth, it is the dollar that fluctuates.

Of course you can't eat the gold, but i would rather have gold then dollars for the time being.

Gold is gold is gold, paper money is fiat currency.

If the country were to collapse, gold would be your best bet to keep.

Eating is a different story, i hope people are smart and don't destroy themselves if the country collapses, which is what usually happens.

Hydroponics is a good start for growing food or farming on land. Time to start farming



edited to add: The whole monetary system is a scam. Give me the control of a nations money and I care not who makes the laws.

[edit on 16-4-2010 by Quickfix]



posted on Apr, 16 2010 @ 10:45 AM
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Be prepared for a propaganda blitz that will make health care look tame.
Corporate thieves will frame this as being about freedom ( the so called free market), cry socialism and class warfare and refuse any attempt at reform. this is Obama's opening salvo on Wall Street reform. The President is serious about meaningful reform, Wall St will be angry, Congress will hem and haw being chicken as usual.
We need a STRONG public support for these things, if people could put aside their partisan hatred of Obama, we could actually accomplish something.
I fear for The Presidents safety, when he screws with the rich ruling class, they will be irate, and will do ANYTHING they think they can get away with.
DON"T BE A STOOGE JUST BECAUSE YOU HATE OBAMA!



posted on Apr, 16 2010 @ 10:46 AM
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reply to post by alienesque
 


Well we are losing to the YEN

But gaining on EUR and GBP

Generally when stock market goes down = dollar goes up



posted on Apr, 16 2010 @ 10:48 AM
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Can you please explain what Obama, McCain and Clinton have to do with this?



posted on Apr, 16 2010 @ 10:49 AM
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Originally posted by Quickfix
Gold is a place to store wealth, it is the dollar that fluctuates.

Of course you can't eat the gold, but i would rather have gold then dollars for the time being.

Gold is gold is gold, paper money is fiat currency.

If the country were to collapse, gold would be your best bet to keep.



...assuming you actually have the Gold in your possession, not just a certificate stating you have an investment - which in effect is just another worthless piece of paper. The whole precious metals market is another topic that may well be fixed and full of nasty little secrets, but that's for another thread.



posted on Apr, 16 2010 @ 10:52 AM
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reply to post by Maxmars
 


***INFO DIG***

MATHIAS GONZALEZ
Vice President,
Investment Strategies

Son of Arturo and Susan
Residence in Chula Vista Ca. 91910
619-421-6508
(if you have any questions regaurding this "crisis")


Mathias joined Bel Air Investment Advisors LLC in 2010 where he is responsible for investment advisory services and business development. Prior to Bel Air, Mathias was a Private Banker at Goldman Sachs in Geneva, Switzerland. He specialized in portfolio construction and trading across all asset classes including foreign currencies, derivatives and complex investment strategies.


***In 2008, Mathias was the only Wealth Management analyst in all of Europe to be promoted at Goldman Sachs.***(I wonder why) He began his investment career in 2001 with Merrill Lynch.


Mathias received his B.A. in Economics for Business Management from Occidental College where he was the Founder & President of the Entrepreneur’s Association and Captain of the Soccer Team. He also is a graduate of University High class of 1999



posted on Apr, 16 2010 @ 10:54 AM
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reply to post by Light of Night
 




I think the government needs to step in and.....


Lets stop right there. Im rather fond of the way Einstein put it: " You cannot solve a problem with the thinking that created the problem."

Government intervention not only does not work, it does so poorly. Consistency is only a virtue if youre not a screw-up. Government intervention is what has gotten us into this mess.
Intervention in free trade, in housing, in medicine, and in schooling to start with just a few.
Even if one assumes that they do so with the most honest, and upright intentions. As the old saying goes: "The road to hell is Paved with good intentions"

IMHO, the only reason they are pointing the proverbial finger now, is to divert attention away from their own mistakes.



posted on Apr, 16 2010 @ 10:54 AM
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Can anyone even imagine this suit being filed by the Bush administration? Or by a Rommney or Palin Presidency. You can BET that
Obama is behind this. Bush gave a green light to Wall Street, they are not going to take to this at all.





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