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According to the Collins English Dictionary 10th Edition fraud can be defined as: "deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage".[1] In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g. in science, to gain prestige rather than immediate monetary gain
*As defined in Wikipedia

Sunday, December 13, 2009

Goldman Sachs Links and News - December 12-13, 2009 Weekend Edition

Links and Editor's Comments: The world is watching and reporting. You will see below that there are reports from Japan - Sydney, Australia - Ghana and Asia. Reports from across the globe informing their citizens about Goldman Sachs. They know and see what we know and see about them. They also know that GS and their illicit activities affected them as it did us. I suppose this makes GS a global crime syndicate - a company so large with tentacles reaching every part of the globe with tsunami like affects.

Goldman's activities enabled the other Wall Street firms in selling criminally and falsely rated mortgage backed securities by falsley insuring them against failure. This is a conspiracy of epic proportions. AIG, Goldman Sachs, Bear Stearns, Merrill Lynch and Lehman Brothers. All co conspirators and all got away scott free.

You might say that Lehman went under so that was punishment. No, they were allowed to go under probably as a cover up and the punishment was doled out to the stockholders who lost their investments. Oh, and you might say that Bear Stearns and Merrill Lynch had to be taken over so that was punishment. No! Again these takeovers were implemented in "midnight" Sunday nite decisions by none other then The Fed (Bernanke), The New York Fed Bank (Geithner), U.S. Treasury Secretary (Paulson) who I believe were co conspirators as well in this massive cover up. The punished and losers in these deals again, not the management but the stock holders who were wiped out.

Let's take a look at who the acquiring companies were. JPMorgan/Chase and Bank of America both of whom were front line lenders and securitizers in the mortgage industry. They would have to be considered co conspirators as well. You must also know that JP Morgan?Chase has a seat on the Board of Directors of the New York Federal Reserve Bank and as part of the deal to take over (they called it a purchase of $250 million) Bear Stearns, JP Morgan required a payment of $55 billion from the government - which they got. Hmmm, conspiracy???

A conspiracy so large and so devastating world wide that it actuallly could bankrupt a country.

Yes, the world is watching as we here are. Perhaps we will see justice served from abroad.


Goldman Sachs played bigger role in AIG trades: report : newses Japan
By Newses Japan
Goldman Sachs Crimewatch: Paul Volcker Says Taxpayers Should not ...
By zionistgoldreport
Goldman Sachs played bigger role in AIG trades: report
Feed the hungry? 'Share the Goldman Sachs' bonuses!'
Globe and Mail
Goldman Sachs Fueled AIG's Risky Gambles
By The Huffington Post News Editors
Goldman Sachs Fueled AIG's Gambles
Wall Street Journal The Goldman Sachs Equity Bonus Scam
By Robert Wenzel
Janet Tavakoli Comments on Goldman Sachs Fueled AIG Gambles
The Market Oracle
Goldman Sachs execs won't get 2009 cash bonus - Yahoo! Finance
Goldman is cutting bonuses? Be suspicious
Goldman Sachs Trading Should Get No US Backstop, Volcker Says
Sox First: Goldman Sachs encouraged AIG's self-destruction
Drop safety net for Goldman if trading is its game: Volcker
Sydney Morning Herald
Goldman Sachs bigger part of AIG troubles : Ghana Business News
Goldman Sachs: Smarter Than the Average AIG
Goldman Sachs changes bonus practices
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Anonymous said...

The Architecture Of The Scam (Goldman

The Wall Street Journal has put forward an article that adds color to the general view I have always held about securitization, risk-shedding, and what I allege amounts to organized, systemic fraud by our "big banks."

While they focused on Goldman Sachs, it is a serious error to maintain focus there as a "universal" or "sole" villain. Quite to the contrary - the entire financial system became one gigantic fraud machine during the last 20 and especially the last 10 years.

In point of fact virtually all of the lending risk for all non-standard mortgage instruments written from 2003-2007 was predicated on one and only one thing - property values would never go down.

Why? Because none of those loans, analyzed dispassionately on the standard "5Cs of credit", were likely to perform to maturity. None of them.

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