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

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posted on Apr, 16 2010 @ 05:26 PM
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reply to post by Jessicamsa
 


People don't get it. The left/right is a facade. There are only the elites versus the regular people.


Sorry, I'm finished with being that cynical. Having lived through both Kennedy's murders, Vietnam Reagan, Bush etc. I WAS pretty cynical.
But I decided that there MUST be hope somewhere, or why even try?

Is there no point? No justice? I'm taking a long shot, occasionally there is someone that will stand up for us. I'm gambling on Obama.
With the public behind reform, it does at least stand a chance.




posted on Apr, 16 2010 @ 05:33 PM
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I think any and all Corporations making vast profits while they are responsible for the Economy Tanking in the first place should be at least Investigated by EVERY CONSCIOUS THINKING TAXPAYER.

when i'm upset about GREED + ECONOMIC HEIRARCHY = ?

this tends to be my opinion.

I might be a irresponsible citizen if i Pass a Fist (pacifist) onto the next generations, maybe they don't deserve this fight in the future.
But, i guess the judges of what the future will have to deal with lies here, in our present.

Be what it is you want to see in others.
Offer a good example.



posted on Apr, 16 2010 @ 05:42 PM
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reply to post by lagnar
 


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.


For 8 years under the oppressive rule of Bush et al who had power to do anything at all? Why blame EVERYone? Most of us have contacted politicians, written letters, demonstrated; but many of us have little clout. Stop blaming victims in this debacle; many of us don't know much of anything about high finance and have to work 10 hours a day to live. speaking for myself, I am tired of reading that all of us are to blame. Our system is rigged from the get go; and to get in to make changes takes patronage and pull. We have been outside a long time. I don't own property and live on my wages: just like most of the people in the USA. Apply your blame to the miscreants please. Or explain in detail just how WE are to blame for this boondoggle...



posted on Apr, 16 2010 @ 05:42 PM
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Well, one might have suspected something to be off when Goldman was making all these billions while others/mostly everyone else, were losing their shirts if not more....

I'm concerned about what the repercussions could be if the SEC unravels this whole thing... if there is one...

Volcanoes, Earthquakes, and more Global Financial Distress...

I'd say we're right on schedule...



posted on Apr, 16 2010 @ 06:05 PM
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I just wonder if the majority of people walking around believing in the free market are starting to wake to the reality that if you eliminate most of the rules, and stop enforcing the rest, then the players will immediately start cheating.

Without the rules, there is no market efficiency, and the market system slowly grinds to a halt.



posted on Apr, 16 2010 @ 06:07 PM
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I would like to thank everyone who has been participating in the thread. It has been very educational.

I suspect we will have an opportunity to collect enough common knowledge to shed a more realistic light on this than the press can be expected to provide.



posted on Apr, 16 2010 @ 06:07 PM
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Originally posted by LaMadameDuval
reply to post by lagnar
 


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.


For 8 years under the oppressive rule of Bush et al who had power to do anything at all? Why blame EVERYone? Most of us have contacted politicians, written letters, demonstrated; but many of us have little clout. Stop blaming victims in this debacle; many of us don't know much of anything about high finance and have to work 10 hours a day to live. speaking for myself, I am tired of reading that all of us are to blame. Our system is rigged from the get go; and to get in to make changes takes patronage and pull. We have been outside a long time. I don't own property and live on my wages: just like most of the people in the USA. Apply your blame to the miscreants please. Or explain in detail just how WE are to blame for this boondoggle...



Every time you are voting you have responsibility...thats the rule of democracy...



posted on Apr, 16 2010 @ 06:13 PM
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reply to post by PhotonEffect
 


Yep. Look at one of Goldman Sachs insiders John Paulson 2007 income was 3.7 BILLION DOLLAR$. For one man? How does one even feel worthy of taking sooooo much from the economy???

Does our Economic Model have any integrity what so ever???

Anti-Economic sentiment is my current mood, but i can't find a word to describe the emotion i'm feeling toward the Corporate Dictatorships. how close is the land of the free to being a teranical nightmare?

American Military at war over Oil Reserve rich nations for Oil Lobbyists.
Exxon Mobile makes $35 BILLION profits.
Exxon Mobile pays America NOTHING IN TAXES???

Why are American troops dying for Oil Corporations that pay U.S. ZERO TAXES due to existing laws that the oil corporations lobbied to make in the first place?

Cannibalistic Corporations, do anything say anything, and deny everything at all costs to make $$$ and decieve their own species.

It least it could seem that way.



posted on Apr, 16 2010 @ 06:15 PM
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The person who really should take the blame (and go to prison) for this is Gordon Brown.

When he was Chancellor of the Exchequer (equivalent to US Treasury Secretary) he created the unregulated agency who labelled all these investments as AAA as far as investors were concerned (and PM Brown made sure that these investments got an AAA risk rating), misleading investors into thinking that they were a safe haven for their money.

Gordon Brown pretty much single handedly created the derivatives markets. I guess the British people will have their say in the UK election in three weeks.

The banks thought that an unregulated derivatives market was a great way to make money, and followed along with his example.

While the banks are all at fault, as is anyone who actually invested in this (didn't your Mom tell you that if it looks too good to be true it probably is), the real culprit is not an American politician at all, but an English politician who has sold out to American politicians.

[edit on 16-4-2010 by babybunnies]



posted on Apr, 16 2010 @ 06:17 PM
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reply to post by Esoteric Teacher
 


Great post!
But Joe the plumber is worried about redistributing the wealth.
As long as being a flunky for the corporate rich is equated with patriotism, we are screwed. Republican propaganda has been very effective on this equation.



posted on Apr, 16 2010 @ 07:30 PM
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notice its not a CRIMINAL Charges and Arrests seem to be missing so this is how they get off the hook. I would think. and they wonder why we are pissed.

[edit on 16-4-2010 by Anti-Evil]



posted on Apr, 16 2010 @ 07:38 PM
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reply to post by Light of Night
 


Didn't they do that with standard oil and all that happened was standard oil just became several big oil companies?

All that would happen is that the smaller banks would cannibalize each other and invest in each other till there is no real distinction between each other anymore.

 


Goldman Charges Roil Markets


The Securities & Exchange Commission said Goldman Sachs failed to disclose to investors vital information about a synthetic collateralized debt obligation, or CDO, based on subprime mortgage-backed securities. In particular, the SEC noted the role played by a major hedge fund that had bet against the CDO. Subprime CDOs were at the heart of the recent financial crisis.

Please visit the link provided for the complete story.


That firm that bet against the CDO mad a killing when the housing market fell.

Nice right? Sure they could have warned people. But instead chose to make BILLIONS off of the suffering of others through the inept practices of this large financial institution.



posted on Apr, 16 2010 @ 07:44 PM
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Wow what a bombshell.


This is fantastic news from the SEC and a great way to wake up on a Saturday morning.

I just wonder if they're going to have the power to nail these guys.



posted on Apr, 16 2010 @ 07:57 PM
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From all indications, Obama is just beginning, and this is but the first of many indictments to come. Now that Obama succeeded in his healthcare plan to a reasonable extent, this will be his main concentration.

As far as who he has as the chairman of the Fed Res, it makes me think of the old expression from the "Godfather", keep your friends close, but keep you enemies closer".

What Obama did by getting a healthcare plan passed is prove his capabilities, and succeeding at such a historical piece of legislation proves that the kid has got stuff.

Now the repubs in congress are staring down the barrel of finance industry reform as election time approaches.

Perfect time for Obama to hook the biggest fish in the investment pond. This puts everyone involved in the big scam at risk, and a fabulous move to collect evidence before they start sending out the criminal indictments.

Politically, it is a masterful stroke.

Meanwhile the republicans have succeeded in coming off as the right wing lunatic fringe. That huge mess with the party paying people to go to strip clubs sure didn't help.

Meanwhile Wall Street CEOs are too addicted to bonus crack, they couldn't stop long enough to even make a gesture to the public by holding back on bonuses. Now it is too late.

Edit Oops, a mistake too big to leave, Fed Res, sorry


[edit on 16-4-2010 by poet1b]



posted on Apr, 16 2010 @ 08:05 PM
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Interestingly enough, Poltical scadals continues to go wild up of the border.

In Quebec very serious accusations are ported against our PM (Jean Charret) by is ex-Minister Justice Department (Marc Bellemare).

Is it TPTB wants people to tick about their own goverment to steer the revolution?

We will see!



posted on Apr, 16 2010 @ 08:39 PM
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Want to know the secret of turning $20 into almost $10,000 in 15 minutes?








posted on Apr, 16 2010 @ 09:11 PM
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Another observation that may be deduced is ....

We are burning this planet's natural resources and using them to wage war on eachother for those very resources.

Not very constructive, sorta deconstructive towards our own species.

We sincerely need to re-evaluate our collective actions and behaviors and where such tendencies originate.

Aren't we obligated to the very place we call home and the Tyranical Corporate Dictatorship cloaked in "Economy" we are leaving as an inheritance to the future and a direct reflection of our current "state of minds"?

These corporations prove to be immune to "Free interprize" expectations and laws.

Seriously, how do we intend to rely on a system where the only people who knew the exagerated existing money situation would collapse and warn few while making a massive profit because they knew it was coming, they helped create it.

No one in the GOVERNMENT was obligated to notice a HUNDREDS OF BILLIONS, PERHAPS TRILLIONS of DOLLARS discrepancy with the actual money in circulation???

Everyone at the control panel must be bought out or asleep and incompetent.

or...

WHAT POSSIBLE EXISTING CIRCUMSTANCES WOULD HAVE TO EXIST TO MAKE THEM RIGHT AND CORRECT FOR WHAT THEY ARE DOING? ARE THEY DUMPING $$$$$ INTO TECHNOLOGIES AND INFORMATION RESEARCH? WITH NO RULES, APPARENTLY, DARE I SAY OBVIOUSLY?

no one likes confrontation, but damn.
what are we leaving as an inheritance to the future and how bad do things have to get before the future decides to try to have an affect on the past to fix their present?

The longer we let these Rulers make the Rules
The longer we permit this societal experiment to continue
The longer we accept being railroaded by the upper 1% without any input

Eventually one will have to assume some personal responsibilty and ask themselves "Well, what did i do about it?"

Maybe if local communitys' treasuries in every town decided to collectivley invest in the stock market and communities across America started buying stock in the same company, like Coca-Cola or something general.

Just to rock wall street and take back some authority, or make a joke of the stock market for awhile.

[edit on 16-4-2010 by Esoteric Teacher]



posted on Apr, 16 2010 @ 09:37 PM
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the more i think about the current economic model, the more i learn about how it operates .... The more it makes me physically ill.

The system should contribute to serving us
not us serving in totallity a system that is apparently defunct.

INSANITY is sometimes described as doing the exact same thing over and over while anticipating a different outcome. ie, doing the same thing repeatedly, generation after generation, and expecting different results.

The Current Economic Model resembles a joke with no punchline what so ever.



posted on Apr, 16 2010 @ 09:50 PM
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doesn't uncle buffet have 5 Billion invested in this? Guess he's not such a great stock investor after all. No more top billionaire list for you! Who's next Jpig morgan or citi?



posted on Apr, 16 2010 @ 09:52 PM
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I absolutely agree that this is just a PR move.

I don't for an instant think that the timing of this is coincidental. Just days after the US agrees to give the IMF another 105 bn for bailouts, when it is quite obvious that Greece will be one of the first large recipients and Goldman was so complicit in their failure.

This will send a message to the world that the US is serious about addressing fraud. It will also give the US the opportunity to recover some of the funds were having to distribute to help stabilize the world economy.

The US let it's unruly children get out of hand and now the children need to be publicly spanked to appease the vicitms.



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