GoldmanSachs666 Message Board

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

Saturday, February 27, 2010

Goldman Sachs Links and News - February 26, 2010

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Goldman Sachs Group, Inc.Toyota and Goldman Sachs: the financially oriented pirates ...
By Allison Kilkenny 
 Pat Dollard | Young Americans | Blog Archive » Goldman Sachs ...
By Pat Dollard 
All About Work & Financial: Bernanke Says Fed Reviewing Goldman ...
By Yeoh Guan Teik
Blogactiv - EU Blog Platform : Goldman Sachs, the missed target
By admin
The Predictable Odor of the Goldman Sachs Seepage - Home - The ...
By DailyBail
Ben Bernanke Responds To Why Goldman Sachs Needs Fed VaR Exemption ...
By Tyler Durden
Do we all suffer from Goldman Sachs envy?
Bernanke Says Fed Reviewing Goldman Sachs-Greece Contracts
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Anonymous said...

This guy is right on....I guess when everything dries up for everyone they'll start to demand answers!

Friday, February 26, 2010
Why Are the Taxpayers Keeping AIG Alive?

The degree of corruption here involving Henry Paulson, Ben Bernanke, Tim Geithner, Larry Summers, Lloyd Blankfein and others smells worse than a broken sewage holding tank in New York City in the heat and humidity of August.

"It's clear to me, and probably most people, that the decision to save AIG was based on the decision to indirectly bailout Goldman Sachs, and other Wall Street banks. Recall that the ex-CEO of GS was the Secretary of Treasury and the then-head of the NY Fed, Tim Geithner, is Robert Rubin's robot - Rubin being the former Co-Chairman of GS several years ago. Anyone doubt the motive?

Anonymous said...

Goldman Sachs’ role in this Greek tragedy… and the next sovereign defaults

In the « Greek case », just like in every suspense story, a « bad guy » is needed (or, following the logic of an old-style tragedy, a « deus ex machina »). In this phase of the global systemic crisis, the role of the « bad guy » is usually played by one of Wall Street’s big investment banks, in particular by the leader of the gang, Goldman Sachs. The « Greek case » is no different as indeed this New York investment bank is directly implicated in the budgetary conjuring tricks which allowed Greece to qualify for Euro entry, whilst its actual budget deficits would have disqualified it. In reality it was Goldman Sachs who, in 2002, created one of its cunning financial models of which it holds the secret (9) and which, almost systematically resurfaces several years later, to blow up the client. But what does it matter, since GS (Goldman Sachs) profits were the beneficiary!

In the Greek case what the investment bank proposed was very simple: raise a loan which didn’t appear in the budget (a swap agreement which enabled a ficticious reduction in the size of the Greek public deficit (10). The Greek leaders at the time were, of course, 100% liable and should, in LEAP/E2020’s opinion, be subjected to Greek and European political and legal process for having cheated the EU and their own citizens within the framework of a major historic event, the creation of the single European currency.

But, let’s be clear, the liability of the New York investment bank (as an accomplice) is just as great, especially when one is aware of the fact that Goldman Sachs’ vice-president for Europe was, at the time, a certain Mario Draghi (11), currently President of the Italian Central Bank and a candidate (12) to succeed Jean-Claude Trichet at the head of the European Central Bank (13).

Considering the importance of GS in world financial affairs these last few years, nothing that this bank does should leave governments and legislators indifferent. It is Paul Volcker, current head of Barack Obama’s financial advisors, who has become one of the strongest critics of Goldman Sachs’ activities (17). We already had the occasion to write, at the time of the election of the current US President, that he is the only person in his entourage having the experience and skills to push through tough measures (18) and who, at this moment, knows what, or rather whom, he is talking about.
If the head of Goldman Sachs believes he is « God » as he described himself in a recent interview (20), it would be prudent to consider that his bank, and its lookalikes, can seriously behave like devils, and it is therefore wise to draw all the consequences. This piece of advice, according to our team, is valid for the whole of Europe, as well as every other continent. There are « private services » which clash with « public interests »: just ask Greek citizens and American real estate owners whose houses have been repossessed by the banks!

Anonymous said...

If more countries feel the effects of this gimmickry what do you think happens?

Washington Abandons Greece: Beware of Geeks Bearing Grifts

Janet Tavakoli

President, Tavakoli Structured Finance, Inc.
Posted: February 28, 2010 10:00 AM

The National Bank of Greece seems embarrassed. Last week, it removed the prospectus for Titlos PLC, the financial engineering vehicle arranged for it by Goldman Sachs International, from its web site.

Now Federal Reserve Chairman Ben Bernanke is concerned with the way credit derivatives and other financial instruments are being used during Greece's current debt crisis. In his semi-annual economic report to Congress, Benanke said the Fed and the Securities and Exchange Commission (SEC) would look into the involvement of the banks they oversee:

"Obviously, using these instruments in a way that intentionally destabilizes a company or a country is--is counterproductive."

He should question all related Greek and Euro transactions (not just derivatives). Banks claim their trades aren't risky because they are doing customer business. One should remember that Goldman Sachs claimed its destabilizing transactions with AIG were "customer business." How did that work out?

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