Image via WikipediaBy Jack KellyGoldman Sachs's Corrigan Opposes `Volcker Rule' to Limit Bank Risk ...
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The Great American Financial Sandwich: Goldman Sachs, PricwaterhouseCoopers ...
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57% pay rises for Goldman Sachs, as bank claims it showed ...
Editor's Comment:
Just a slow news day today. The big story for today was the NY State Attorney General filing a CIVIL Fraud suit against Bank of America, its' former CEO and another high level executive.
As CNN reporter Anderson Cooper asks, "why isn't anyone in jail". A good question and one I have been asking for quite some time. If there is fraud then fraud is illegal and should be a criminal offense. If it were you or I it would be and we would be sitting in jail right now.
Are we playing games here? So much fraud that caused this collapse and fraud still being committed - especially mortgage foreclsoure fraud.
Where is the JUSTICE?
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4 COMMENTS:
Of course you did not go to Washington to bail out the banks..it was a bailout of your alma mater, Goldman, and your grand finale!
The books title should be I'm a stinker.
You accomplished the greatest transfer of wealth from the public purse in history...if you don't believe our leaders would do that? Go read Devil Take the Hindmost: A History of Financial Speculation...you will read what men behind the scenes will do to screw others out of money.
For instance, there is the constant recurrence of manipulation of markets by the greedy and unethical, the likes of Jay Gould and his associates.
Look at our modern day Jay Gould!
Whenever someone throws their faith into the equation your antennae should go up! Its a diversion....
Charlie Rose: Henry Paulson, Former U.S. Treasury Secretary – Watch the full episode now.
February 4, 2010
Revisionist galore, new book, what the hey. Expect what you expect. He told Bush in 06, but didn’t see housing, come on Hank you know you saw it all. And all for no taxes on your GS stock!
http://tinyurl.com/y87qym8
If you watched the video you will understand why Paulson does not support Volcker rules by clicking on following link...what do you think it has to with?
04 February 2010
Of Proprietary Trading and Credit Default Swaps - Mission Accomplished
Goldman is no surprise, because they are nothing but a hedge fund with the right connections and a rolodex full of Senators.
http://tinyurl.com/ybjllt3
you'll never defeat these guys playing straight:
Volcker and Reform Defeated
The Former Fed Chairman Offers A History Lesson, Congress Skips the Class
Mr. Volcker's testimony was at once a brilliant articulation of the structural dangers of Wall Street as it stands and a forceful warning. He clarified the most controversial part of the rule, the ban on proprietary trading for commercial banks.
A bank "trading for its own account, it will almost inevitably find itself, consciously or inadvertently, acting at cross purposes to the interests of an unrelated commercial customer of a bank," he said in prepared testimony.
This state of affairs at big institutions such as Bank of America Corp., Citigroup Inc. and J.P. Morgan Chase & Co. is more than just a conflict. It is an all out internal war at the heart of these institutions pitting the money system so important to the economy with the risk-taking system important only to those who benefit from the betting windfall.
But given the reaction of committee members, the Volcker Rule appears to be doomed. By the end of his testimony the dais was nearly empty. Big bank stocks rallied. The only question now is whether the bill will be gutted or euthanized like failed investment banks would have been under the Volcker plan.
Sen. Shelby has his own interests. He is running for reelection this year. Wall Street has been the leading contributor to his campaign and the leadership political action committee this cycle, with $600,000 in donations through Jan. 10, according to the Center for Responsive Politics. Add the real estate and insurance industries and Mr. Shelby has taken $2 million from financial interests, more than double the contributions from the next leading industry, the CRP said.
http://tinyurl.com/yam945m
Fraud. Larry hits on the operative word.
Want proof?
Every single day, Dylan Ratigan talks about it on the TeeVee.
Every single day, Karl Denninger lays it out in excruciating detail.
Every single day, a hundred others point the fingers right at the problem.
And............/crickets chirping/....nothing*.
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