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

Tuesday, July 13, 2010

..Goldman Sachs Links and News - July 13, 2010

Goldman Sachs, Citigroup Sued Over Subprime Loans
Goldman Sachs faces Brazil police probe: report
EARNINGS PREVIEW: Goldman, Morgan Stanley Face Sluggish 2Q
Wall Street Journal
HEARD ON THE STREET: Banks Should Come Clean on SEC Subpoenas
Wall Street Journal
By DAVID REILLY Banks often try to emulate the success of Goldman Sachs. Now would be a good time to avoid one of its blunders.

Goldman Sachs Loots Their Own Store
Courtesy Home Equity Loan Term


RobertM posted a video clip from Dylan Ratigan below.  Make sure to watch it.  Dylan, as always makes some good points.  Dylan says tax Wall Street for the "stolen money".  More people need to recognize and verbalize that the financial industry is stealing money.  The politically correct term has been "transfer of wealth".  In reality this "transfer of wealth" was in fact thaeft at an unprecedented level.   Thanks Robert for posting it and also thank you to the Anonymous commenter that also posted the link as posted on

This link courtesy of Laser Haas.  Thank you Laser for your continued viewing and participation.

Goldman may seek extension in SEC case:

BANGALORE (Reuters) - U.S. investment bank Goldman Sachs Group Inc is likely to ask for more time to respond to the fraud lawsuit filed on April 16 by the U.S. Securities regulator, the New York Post reported, citing sources.

Goldman, which has denied wrongdoing, faces a court-imposed July 19 deadline to respond to the lawsuit filed by the Securities and Exchange Commission.

The lawsuit accused Goldman of creating and marketing collateralized debt obligations linked to subprime mortgages in early 2007, without telling investors that hedge fund Paulson & Co helped choose and was betting against the underlying securities, leading to investor losses of about $1 billion.

Goldman, which has already filed for one extension tied to the fraud case, is likely to seek an extra 30 days beyond its July 19 deadline, the sources told the paper.

Neither Goldman nor the SEC were available to comment.

Goldman was due to release second-quarter results July 20.

(Reporting by Antonita Madonna Devotta in Bangalore; Editing by Dan Lalor)

 This link provided courtesy of Sean Zacharie.  Thank you for your daily offerings and readership.

Goldman, Citigroup and 13 Other US Banks Sued by Mortgage Investor

Cambridge Place Investment Management has sued 15 US banks after losing $1.2 billion on subprime mortgage-backed securities. 

(July 13, 2010) -- Cambridge Place Investment Management is suing the word’s biggest banks in an effort to recoup a $1.2 billion loss tired to subprime mortgages.
In the lawsuit filed in Massachusetts state courts on July 9, the hedge fund claims the banks misled the firm about its investments in subprime securities. The Boston-based firm said it lost about 50% of its investment, alleging that the banks facilitated an “environment of improper lending practices.”
The lawsuit, which could encourage other investors, such as large pension funds, to bring similar lawsuits against the banking industry, represents one of the biggest cases of its kind to be filed so far in the US. The suit takes aim at Morgan Stanley, Goldman Sachs Group Inc. and about 13 other banks.
 Read the full article at here

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Anonymous said...

Is it April...? like 1st?

Is this for real?

For Bankers of Failed Financial Institutions… the Pain Is Not Over Yet

The Federal Deposit Insurance Corp. (“FDIC”) has started laying a foundation for lawsuits against the senior executives and directors that the agency claims were responsible for their bank failing. Apparently, the FDIC has already sent out hundreds of demand letters that warn officers and directors about the possibility of civil charges, and announce formal investigations into individuals and subpoenaed directors’ financial statements, among other documents.

Shiela! There you are! Where the heck have you been girl? Last I heard, Hank Paulson sent you for coffee, and you’ve been standing in Geithner’s shadow ever since. It’s about damn time, girl!

FDIC says they want to assess accountability for the multitude of bank failures and perhaps take shot at replenishing the Deposit Insurance Fund while they’re at it, and the letters set the stage for civil lawsuits and monetary settlements, if appropriate. Some industry people say the FDIC is only targeting the bankers with the most money, including those with insurance policies that will pay damages, but I couldn’t figure out for sure if they meant that doing so was a bad thing. Because as far as I’m concerned, that’s exactly what the FDIC should do… target away, Ms. Bair.

Anonymous said...

Hmmm...wonder why your elected reps don't give a hoot?'s because you don't shower them with loot!

Members of Congress Seek K Street Cash

Anonymous said...

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Larry Rubinoff said...

Anonymous said...

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Blog added to Suggested Links sidebar.
Thank you for bringing it to our attention.

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