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

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posted on Apr, 16 2010 @ 12:40 PM
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Watch how far the stock market falls as a result. They are playing their little kid games with the market again.

They are acting like spoiled brats throwing a temper tantrum in the candy aisle because they aren't getting their way.

This is the childish like nature of the top 5% of shareholders in full and in living colour.

And how stupid can the average person be who does not want to see the markets be reigned in and have some serious regulation get levied just kick back and watch the show.

I'm half expecting Goldman to be asking for a bailout before the close of the year because this severely hindered and hit their business.

[edit on 16-4-2010 by TheImmaculateD1]




posted on Apr, 16 2010 @ 12:54 PM
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i dont know mannn this is like hitler putting himmler on trial.. im not sure i see anything comin out of this. i could see war breaking out to take people minds of this. i really do.. TPTB are not gonna put TPTB on trial... makes no sense at all.



posted on Apr, 16 2010 @ 12:59 PM
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reply to post by Quickfix
 


We are getting off topic here with the gold talk, but I have a comment perhaps someone can address.

The other day I read a report (Chapman?) that said the gold market was basically a fraud too in that the holding companies only had 1% in stock of what they had sold. And it any of tht other 99% was called for there would be a metals crash. So, it seems to me, that if that came out as factual that the gold market would collapse in minutes and all other currencies right behind. Any truth and sense to that?



posted on Apr, 16 2010 @ 01:04 PM
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reply to post by Maxmars
 


what's even odder is the foreign mortgage companies began calling me the moment the war against terrorism kicked off. they called me every day, several times a day (and into the night), even on weekends, trying to get me to take a second mortgage or a refinance.

"our records indicate you are paying ___ interest on your loan. we'd like to offer you a lower interest rate refinance."

closer examination revealed that most of them had a huge balloon payment and huge interest rate increases, affixed, in small print. just in time for the financial meltdown and the housing bubble fiasco.

i resisted this offer every time and man they were really determined to sell it to me.

i call shenanigans.



posted on Apr, 16 2010 @ 01:06 PM
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This certainly isn't for those who know better. I'd say this is solely for the last 30% of the population, who still believe the SEC is there to do anything other than try their very best to destroy the little guy, the business starter and anyone who opposes the establishment's flow of influence into the banker's digital money belts (free, or near free energy for instance).

God forbid, anyone should mention that nasty word (or inside joke) "Bribery" in Washington.

You're right C, they are all a joke, just as most other "oversight" organizations, but the joke's on us, for we are the biggest joke in history for letting ANY of this happen, let alone some nowhere near even half-a$$ed attempt to pacify that last 30%.

We are getting what we deserve for our inaction, willful ignorance, and blind fear. In the end, WE are the ones charged with - and neglecting our duty of - investigation, oversight and repercussion. But that's an even worse word - responsibility. Who wants that...right.

It becomes ridiculous to say, or even think, it won't get far worse than anyone can fathom at this point, before the needed 3% of the population starts TAKING care of business.



posted on Apr, 16 2010 @ 01:10 PM
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Here is the thing.

online.wsj.com...


The hedge fund involved in the Goldman case, Paulson & Co., also contributed to the headline effect. Paulson had earned legendary status on Wall Street during the crisis by making an estimated $20 billion in betting again the housing crisis. Paulson executives were not immediately available for comment Friday.


The article goes on and on about how this affects the market, but nothing about the essence of these charges.

I chose the above snippet because I can only wonder who pays for Paulson's $20B gambling wins.

Have the people at the Wall Street Journal bothered to pause and ask themselves that?

Here is the obvious thing, the Stock market has been turned into one huge gambling casino.

Is putting your money into the stock market any different than plopping it on a crap table?

Lack of free drinks is the only difference I can see.



posted on Apr, 16 2010 @ 01:10 PM
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reply to post by Aliensun
 


Probably. Its all manipulated for profits. Here is a thread on JP Morgan gold price manipulation. They short it when they drop the price and then buy it before it goes up. Nice, huh?
If all the currencies and commodities crash, then its a good thing I bought seeds.



posted on Apr, 16 2010 @ 01:10 PM
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Originally posted by Crakeur
This suit against Goldman is nothing more than a means for the government to get some well needed bail out money from a source holding cash. Goldman won't be dismantled. They're too big to be shuttered. They control too much of the world's financial positions. Instead, the US, in need of cash, slaps a suit on them and Goldman will settle it for ten billion dollars (or some other amount that is meaningless to them) and the government will claim a win and have some extra cash to repurchase more subprime crap from Goldman.

The whole system is a joke at this point. Sadly, we're not in on that joke.


u r exactly correct
that is why this is a civil suit instead of
a criminal suit.

People dont go to jail in a civil suit
just money is exchanged



posted on Apr, 16 2010 @ 01:13 PM
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reply to post by boondock-saint
 


bingo... this is a frickin shame to make americans think they, our loyal government, are against these fascist banker crapbirds... like Obergruppenfuhrer gheitner in my avy



posted on Apr, 16 2010 @ 01:18 PM
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I dont know about anybody else

but I wanna see these people prosecuted
in criminal court instead of civil court.

I wanna see them behind bars
for defrauding the world.

That's still a crime isn't it???

And just think, 9/11 stopped this scenario
in 01 when WTC7 came tumbling down
with all the Enron and Worldcom evidence.
Quite convenient dont you think?

And I hope the Federal Reserve is next on the list

[edit on 16-4-2010 by boondock-saint]



posted on Apr, 16 2010 @ 01:22 PM
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reply to post by boondock-saint
 


I tend to agree. The meme of "too big to fail" was established, not by government, but by financial industry 'insiders' who needed the metaphorical gun to point at the taxpayers' heads.

In a free market, operating under true capitalism, 'too big to fail' is nonsense. Failure is the ultimate 'correction' to any model that operates from 'outside' the system. Once you go down the path of draining revenue from the system without any value in return, you are in effect parasitically infecting the market. "Too big to fail" should register in our minds as "Out of control."

Like employees protecting their paycheck, the political machinery went way over the line to protect the excesses of their benefactors; which essentially marginalized the average citizen's "pursuit of happiness" into a state of fantasy.

Transparency in either the corporate world or the political world would have empowered the citizens to at least have the possibility of reacting appropriately to the market manipulation by the monetary monopoly. Sadly nearly every public servant and nearly every institution of the nation stood still while they played their game.



posted on Apr, 16 2010 @ 01:25 PM
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reply to post by N.of norml
 


somebody told me once, not too long ago, that DC is not considered part of the united states. the legal jargon places US citizens in the category of enemy combatants. if you threaten to or succeed in convincing others to cut off the money flow, this country will suddenly become the target of international terrorists, and the guys with all our money, will watch it happen from some comfy tropical island big screen TV.

we aren't dealing with the same category of human beings that we were taught to be ourselves. these people consider themselves top of the food chain, the ultimate predators. and the fact that they own most of us lock, stock and barrel, would appear to support their view of themselves.


[edit on 16-4-2010 by undo]



posted on Apr, 16 2010 @ 01:30 PM
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Ug, I know this has been brought up before and is no real surprise to us here, but wow, just looked at the price trends for DJIA, S&P500, And NASDAQ on Google Finance. What are the odds that all three would be following the exact same pattern (across differant scales, of course). Is there something about these that would imply an inherant synchronicity between them all?



posted on Apr, 16 2010 @ 01:32 PM
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Originally posted by Crakeur
reply to post by time91
 


Goldman won't be dismantled. They're too big to be shuttered.


I believe you may be surprised.

Things aren't going to be like 'business as usual' anymore. These guys have to topple, as does the entire corrupt system. This time there is a different corner to turn.... and some new sheriffs will be coming in to town.



posted on Apr, 16 2010 @ 01:35 PM
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This is all a result of the deregulation of the finance industry. They need to reverse all of that deregulation, to eliminate the fraud.

For over fifty years we had a good system that resulted in a strong growth of the middle class. All these free market scam have done is destroy the integrity of the markets, by allowing these crooks to get by with what they have done.

The Obama admin is doing the right thing by going after these crooks.



posted on Apr, 16 2010 @ 01:39 PM
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NOTHING will come of this. At most they will slap their hand and give them a fine which is chump change. It's all a big game. Nobody will every go to jail and it will all be forgotten soon anyway. Watch and see.



posted on Apr, 16 2010 @ 01:41 PM
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reply to post by projectnsearch
 


I'm hearing a lot of people talk about this from both sides over the past 4 hours that are market movers etc. from both ends

Sounding like SEC may look dumb in the end here, and this was quite politically motivated because of financial reform legislation. Sounds like a lot of this was also about disclosure about who was picking what was in the fund etc..



posted on Apr, 16 2010 @ 01:42 PM
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reply to post by rogerstigers
 


They all usually move the same percentage when "blanket selling" occurs.



posted on Apr, 16 2010 @ 01:46 PM
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reply to post by GreenBicMan
 


I was hoping you could explain the term "blanket selling" to me. Is this one of those automated computer algorithm driven things. Or is it about selling whole swaths of commodities or stocks at one time across the board?

Hope you don't mind the question...



posted on Apr, 16 2010 @ 01:50 PM
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This is a political move, and nothing more. The financial reform bill is coming up for vote, and Obama's affiliates were already waiting for the go ahead to blitz. This allegation (which has nothing to do with business to consumer, it's business to business) could make it very hard to vote against new financial regulations.

www.huffingtonpost.com...





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