Los Angeles Times
Poll: Goldman Sachs and other big banks have poor reputations
FierceFinance
PR problems at Goldman Sachs don't keep away clients | Money ...
By Nathaniel Popper
Meg Whitman's Shady Goldman Sachs Past -- Is It California's ...
Goldman Sachs's ties to Meg Whitman questioned
FierceFinance
Goldman Sachs' Aganga Named Nigerian Finance Minister
BusinessWeek...GS666 Note: Watch out Nigeria, GS seems to be infiltrating your government.
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5 COMMENTS:
Goldman must have hired Roger Stone as in,
""Admit nothing, deny everything, launch counterattack."[2]"
http://en.wikipedia.org/wiki/Roger_Stone
(Notice they did not say ALL clients)
Goldman Sachs Denies It Bet Against Mortgage Clients
http://www.bloomberg.com/apps/news?pid=20601087&sid=aKhblxcIF1R4&pos=6
Remember this quote....
"It is impossible to calculate the moral mischief, if I may so express it, that mental lying has produced in society. When a man has so far corrupted and prostituted the chastity of his mind as to subscribe his professional belief to things he does not believe he has prepared himself for the commission of every other crime." … Thomas Paine 1737-1809, Anglo-American Political Theorist, Writer
Goldman Denies It Bet Against Clients
Goldman has just issued an eight page letter to shareholders, in which it tries to defend itself against its critics, particularly regarding its conduct vis-a-vis AIG, with how it got short the residential mortgage market, and its compensation.
To be more terse than usual: the AIG argument is generally plausible (and not inconsistent with what Tom Adams’ analysis has found), the other two are problematic. to put it politely.
http://tinyurl.com/yccz8oc
Goldman Sachs: Spinning Gold
Goldman Sachs claims great risk management skills, while it shirks responsibility for its role in the near collapse of the U.S. economy. The former is a myth, and the latter is a dodge. [1] As taxpayer wealth was destroyed, Goldman exploited the financial crisis it helped cause, while the U.S. was (and remains) at war.
Goldman Sachs released its 2009 annual report today showing it made net revenues of $45.17 billion with net earnings of $13.39 billion. In its shareholder letter, Goldman says it repaid TARP money, but did not mention the massive new taxpayer subsidies it continues to enjoy.
Built to Fail
There was fraud by borrowers and speculation, but there was also massive widespread predatory lending. Most victims were the least sophisticated borrowers. Mortgage lenders engaged in a variety of frauds including phony appraisals, altered documents, hidden fees, lies about the type of loan, and lies about the maximum payments. As for CDOs, the SEC dropped seminal investigations.
Many of Goldman's "investments" crashed like an airplane made from faulty components. Some of the CDOs Goldman created--including some sold to French banks that traded with AIG--ended up in money market funds (as asset backed commercial paper) bought by retail investors.
http://tinyurl.com/yhgfecc
Here is one of my favorite quotes from famous:
Cecil Parkinson: "It is better to be a has-been than a never-was."
@John: thank you for your quotes. One was published in our quote sidebar to the left.
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