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Shocker: Goldman Sachs and Executive Charged With Fraud

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posted on Apr, 18 2011 @ 01:59 PM
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Shocker: Goldman Sachs and Executive Charged With Fraud


www.truth-out.org

Washington - The Securities and Exchange Commission Friday charged Goldman Sachs & Co. and one of its executives with fraud in a risky offshore deal backed by subprime mortgages that cost investors more than $1 billion.

The SEC also contends that Goldman allowed a client, Wall Street hedge fund Paulson & Co., to help select the securities to be sold. Paulson in turn bought insurance against the deal and when the securities tanked, losing almost all their value, Paulson made a $1 billion profit.
(visit the link for the full news article)




posted on Apr, 18 2011 @ 01:59 PM
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From the 'It's about time' column of 'Do we really live in this world?' news... Can you believe it? They are actually going to go after one of the banksters after Goldman's whole team lied to Congress....

Well we will see... Goldman's is the number One contributor to Obama, and the Congress... and that does not include the bankster PAC group.... so don't hold your breadth.... still... its a start..

www.truth-out.org
(visit the link for the full news article)



posted on Apr, 18 2011 @ 02:05 PM
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This means absolutely nothing as they will always
cover for each other, that is the name of the game
and we are being had. Glad to see at least some
recognition of their crimes, this way they will have
something to make a toast about at dinner tonight
“to all the morons who let us get away with it right
in front of their eyes” “cheers!”



posted on Apr, 18 2011 @ 02:05 PM
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reply to post by R_Clark
 


It's about time they go after these bankers and executives who caused this economic mess. I hope they don't stop there! There's plenty more where they came from. The question is, will their high paid lawyers wiggle them out of the fraud charges?



posted on Apr, 18 2011 @ 02:07 PM
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It's time they go after the Bankers man!!

oh wait.

Goldman Executive Named as SEC Investment Chief
www.abovetopsecret.com...

Well....


Too much Cronyism



posted on Apr, 18 2011 @ 02:11 PM
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'Bout damned time SEC. Where the hell have you been for 4 years!

What the hell does it take for the SEC to actually ENFORCE fraud these days?
Your job ain't done SEC. Next is JP Morgan, B of A, and a few others.



posted on Apr, 18 2011 @ 02:18 PM
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Not sure what they shocker here is these bastards have been frauds for ages and I have to agree with 'project' about the SEC, serious where the hell have you been SEC.


Nice post! *&P
edit on 18-4-2011 by mileslong54 because: dam pluralization



posted on Apr, 18 2011 @ 02:19 PM
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reply to post by R_Clark
 


Sounds alot like the abacus operation Goldman put together about 3 or 4 years ago. G S are such a bunch of arrogant scumbags. The Rolling Stone article about Goldman "the vampire squid" is a good read if anyone's interested. These deals have been compared to "ship insurance" that was available in England hundreds of years ago. Anyone, even without a vested interest in the ship could purchase say $ 10000 worth of insurance for $ 500. Someone was gonna make sure that ship sank for huge profits. Easy money when you can make accidents happen. Ridiculous isn't it. I wonder if former treasury secretary Hank Paulson was involved. Another ex Goldmanite scumbag swindler.
edit on 18-4-2011 by colbyforce because: Oops

edit on 18-4-2011 by colbyforce because: Again



posted on Apr, 18 2011 @ 02:24 PM
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Originally posted by mileslong54
Not sure what they shocker here is these bastards have been frauds for ages and I have to agree with 'project' about the SEC, serious where the hell have you been SEC.


Nice post! *&P
edit on 18-4-2011 by mileslong54 because: dam pluralization


I think the "shocker" is that they would go through the trouble of presenting this charade for us, so we might not hate the rest of them so much. It costs money to put on a show like this!

From the onset of the SEC's organizational enema, we knew they would have to do something or people might end up protesting on their doorsteps in such numbers as could not be ignored, or 'explained' by the media as 'crazy people.'

We shall see how far the producers of this event are willing to go. Probably not too far at all, unless there has been a sudden outbreak of morality in political-appointees across the system.... but they probably have a pill for that.

EDIT TO ADD..... is there any relation between Secretary of the Treasury Paulson and the Paulson of this article????


Khuzami said that the Paulson firm, which is not affiliated with former Treasury Secretary Henry Paulson, was not charged because it did not mislead investors.



edit on 18-4-2011 by Maxmars because: Answered my own question.



posted on Apr, 18 2011 @ 02:27 PM
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Corporations get criminal charges all the time and usually shuffle them through shell companies. Problem is, is you can't send a corporation to jail.

It sure looks nice though doesn't it?



posted on Apr, 18 2011 @ 02:33 PM
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Originally posted by Maxmars

Originally posted by mileslong54
Not sure what they shocker here is these bastards have been frauds for ages and I have to agree with 'project' about the SEC, serious where the hell have you been SEC.


Nice post! *&P
edit on 18-4-2011 by mileslong54 because: dam pluralization


We shall see how far the producers of this event are willing to go. Probably not too far at all, unless there has been a sudden outbreak of morality in political-appointees across the system.... but they probably have a pill for that.

EDIT TO ADD..... is there any relation between Secretary of the Treasury Paulson and the Paulson of this article????
edit on 18-4-2011 by Maxmars because: (no reason given)


Agreed, I believe that pill is called mysterious suicide or something of that nature. In the end it will be another 'show' to make people believe things are being handled correctly, ahh peace of mind.....



posted on Apr, 18 2011 @ 02:34 PM
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reply to post by boncho
 


Which is why I say do not necessarily go after a person per se. Go after the corporation itself, revoke business licenses, and exile them out of the country. When corporations operate with a board of directors, it hides the true identity of the people behind the scams, so, just shut the business down and scatter the remains. Divide them, the way they have divided us.


edit on 18-4-2011 by Skewed because: (no reason given)



posted on Apr, 18 2011 @ 02:41 PM
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Nothing will happen. These guys made billions.
They will get a slap on the wrist for a few million and then retire.

If it was me I'd do the same thing too.

Look at what Wachovia did.
Laundered mexican drug money. Made billions and were fined millions.
Sounds like an excellent business model to me. Probably why they keep wash rinsing and repeating.
Unless we start to seriously penalize wall street nothing will change.

wvgazette.com...



Eventually, Wachovia was charged with laundering $378 billion -- equal to one-third of Mexico's gross national product. A year ago, the bank paid a $110 million forfeiture and a $50 million fine. No individual bankers were charged. Further criminal prosecution was deferred for a year, then dropped.



posted on Apr, 18 2011 @ 02:42 PM
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reply to post by Skewed
 


You have to wonder how an US Person (a corporation) can be both immortal and sovereign but a human can't.

I wonder what it would take the revoke their corporate charter..... and how unlikely that is to happen?



posted on Apr, 18 2011 @ 02:47 PM
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reply to post by Maxmars
 


Any corporation that engages in the kind of financial terrorism that Goldman Sachs and others do should have their corporate charters removed entirely and all their assets liquidated...and, of course, shiny steel bracelets for all involved.

I've had enough of a little fine here and a little fine there. It's time to roll out the handcuffs.



posted on Apr, 18 2011 @ 02:48 PM
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reply to post by Maxmars
 

From the linked article in OP:
"Khuzami said that the Paulson firm, which is not affiliated with former Treasury Secretary Henry Paulson, was not charged because it did not mislead investors."



posted on Apr, 18 2011 @ 02:50 PM
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reply to post by projectvxn
 


In this case, we should refer to Law of the Pack,

off with their heads.



posted on Apr, 18 2011 @ 04:05 PM
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reply to post by Maxmars
 


The board of directors can and should be jailed if the corporation did it, as opposed to an individual. However, since the population's faith is at zero or thereabouts, anything they do will be a most pleasant surprise.



posted on Apr, 18 2011 @ 04:25 PM
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Originally posted by Maxmars
reply to post by Skewed
 


I wonder what it would take the revoke their corporate charter..... and how unlikely that is to happen?


Put me in charge, and I will show you.



posted on Apr, 18 2011 @ 05:43 PM
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Mods filter out as to were i should post since duel topics are involved, simply asking and not implying




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