As the year 2009 draws to an end and the new year 2010 begins perhaps we as Americans can look forward to justice and to the return of the American way of life where opportunity exists for everyone and anyone.
As we reflect back on our efforts here this past year, we hope we have played a small part by keeping you - the public - informed. While this site is dedicated solely to Goldman Sachs, don't for a minute think that they alone are responsible for the misery we have been living through. The entire banking system along with The Federal Reserve and our very own Treasury Department - and their leaders - have fault and blame. Presidents of the United States going back to Bill Clinton have been active participants in the execution of what George Bush the 1st called "The New World Order". Interestingly enough "The New World Order" was first mentioned back in the late 1700's by Meyer Rothschild - the creator of the Central Banking System - who believed he could rule the world by controlling the economies and money of nations. As you see daily at the top of this blog, he said, "Let me control the money of a nation and I care not who makes its laws". So with that said and the fact that his family and heirs are still very much involved in international finance and banking, it is posslble that "his" plan has been executed by many if not most of our Presidents.
It is apparent that "big money", those "too big to fail", the biggest being Goldman Sachs, have control of this country and its' people. But it also begs the question, what laws have been broken by these controlling banks who reward themselves lavishly? It also begs the question, how is it that these "too big to fail" are the only ones profiting from a crisis they brought upon us?
It was reported yesterday that "we" are giving another $3.5 billion to GMAC as a result of "losses(?)" they have sustained in their mortgage divisions. First let's all be aware that the mortgage companies GMAC owns (Residential Capital and Ditech) were making loans at the speed of light, under the same lax to none underwriting guidelines used by all other lenders, mortgage brokers and mortgage bankers - most of whom are out of business. Know also that GMAC is partially owned by Cerberus Capital Management, LP, the same company that owns Chrysler and whose top guy is former Treasury Secretary John W. Snow having been appointed to that position in 2003 by Pres. George W. Bush.
So will the year 2010 be the same with no change for the "fat cat" bankers and no relief for the American people? I for one hope not. By the efforts of our contributors and the many others in and out of media we devote our time and efforts to right the wrongs, get justice, make a difference and truly accomplish change.
You will see by the links to other stories below (not our usual daily links) that there is a lot of talk about wrong doing, illegal activities and more. We are not a few in this quest for justice as there are many others. We along with these others are a voice to be heard by our politicians and law enforcers as the truth requires action.
Our nation has always had far too many homeless and hungry. Too many sick and dying for lack of available health coverage. And most important, too many hungry and homeless children who may never have the opportunities available in the past. Our education system is amongst the lowest in developed countries in the world. Yet the "fat cat" bankers along with the elite class of politicians we have created care not about any of this, they care only for themselves driven by greed and the determination to own all the wealth they have been and are taking from the people.
We are in the midst of a Revolution. A Revolution not of and by the people but a Revolution against the people who seem to be fulfilling Meyer Rothschllds plan.
Let us stand up and speak out in 2010. We can take back control. We can reverse this cycle of robbing from the poor to give to the rich. Can any of you think of a better place to put the next $3.5 billion of our future generations money then giving it to GMAC/Cerberus?
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Goldman Sachs Mortgage Bets Said to Draw Probe by Regulators
BusinessWeek - David Scheer - Dec 24, 2009
Dec. 24 (Bloomberg) -- The US Securities and Exchange Commission and brokerage regulators are examining how Wall Street firms bet against ...
Banks Bundled Bad Debt, Bet Against It and Won
New York Times - Gretchen Morgenson, Louise Story - Dec 23, 2009
In late October 2007, as the financial markets were starting to come unglued, a Goldman Sachs trader, ...
Response to Goldman Sachs Expose
The Market Oracle - Janet Tavakoli - Dec 25, 2009
The New York Times published a Christmas Eve expose of Goldman Sachs's so-called “Abacus” synthetic collateralized debt obligations (CDOs). ...
Taxpayers Help Goldman Reach Height of Profit in New Skyscraper
Axis of Logic - Christine Harper - Dec 25, 2009
"It doesn't operate branches or automated-teller machines. Only millionaires can open checking accounts. Instead, Goldman Sachs exists ...
Diet for fat-cat bankers an illusion
WalletPop (blog) - Dec 25, 2009
As another year of jobs lost, homes foreclosed and budgets cut draws to a close in America, some of Wall Street heftiest fat cats are tipping the scales ...
Is there a Goldman CDO scandal?
Seeking Alpha (blog) - Felix Salmon - Dec 24, 2009
The big story on this slow news day is the NYT's 3000-word story on Goldman and synthetic CDOs, which now has a formal response from Goldman itself. ...
Wall Street Crime Blockbuster: Goldman's Lucrative Bets Against America
Village Voice (blog) - Ward Harkavy - Dec 24, 2009
One of the year's biggest corporate-crime blockbusters, and the New York Times publishes it on Christmas ...
Sell Junk, Short The Same Junk, Laugh Your Way To The Bank: Ethical? (MS, GS, DB)
Benzinga - Ed Liston - Dec 24, 2009
Investment banks like Morgan Stanley (NYSE: MS), Deutsche Bank (NYSE: DB) and the old and venerable Goldman Sachs (NYSE: GS) apparently made a fortune ...
SEC Investigating How Goldman Sachs & Friends Gamed the System
True/Slant - Dec 24, 2009
That's pretty much how it worked for Goldman Sachs and others who were trading in Collateralized Debt Obligations (CDOs), the credit default swaps that made ...
The Goldman Housing Scandal Isn't A Scandal: It's The Inevitable Result Of ...
The Business Insider - Dec 24, 2009
The New York Times delivers a front-page expose on the original Goldman Sachs scandal: How the firm created derivatives (synthetic CDOs) to allow investors ...
Goldman Blasts The New York Times's Hit-Job
The Business Insider - Dec 24, 2009
Background: The New York Times published a story on December 24th primarily focused on the synthetic collateralized debt obligation business of Goldman ...
Regulators Probe Banks On Failed Securities
StreetInsider.com (subscription) - Dec 24, 2009
The SEC and FINRA are investigating conduct by Wall Street investment banks, which bet against securities which they created ahead of the implosion of the ...
Banks probed on risky securities; Citi's payback; Most pirated film of '09
International Business Times - Dec 24, 2009
US regulators and legislators are investigating whether Wall Street investment banks deliberately sold risky structured securities to clients, ...
Banks Probed for Betting Against Own Securities
Newser - Rob Quinn - Dec 24, 2009
(Newser) – Congress and financial regulators are probing several Wall Street firms for bundling bad ...
Adams: Goldman's Actions Cross Into Criminal Activity
Before It's News - Dec 23, 2009
Thomas Adams, a lawyer at Paykin Krieg and Adams, LLP, and a former managing director at Ambac and FGIC is backing up the charges that Janet Tavakoli has ...
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1 COMMENTS:
integrity Rigor mortis
Investors could only lose in Goldman's Caymans deals
Goldman said those investors were fully informed of the risks they were taking.
These Cayman Islands deals, which Goldman assembled through the British territory in the Caribbean, a haven from U.S. taxes and regulation, became key links in a chain of exotic insurance-like bets called credit-default swaps that worsened the global economic collapse by enabling major financial institutions to take bigger and bigger risks without counting them on their balance sheets.
The full cost of the deals, some of which could still blow up on investors, may never be known.
http://tinyurl.com/yc4fsth
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