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

Lying Lloyd Blankfein

Max talks with Karl Denninger about Goldman Sachs and the market manipulation going on in the "markets" in the second half of the show (around the 12 minute mark).

Dylan is back!

Dylan Ratigan Wants To Know How Jobs Can Ever Be Created With ‘The Insolvent Banking System Sucking Up All The Money Like A Giant Squid’

In related news-
SEC Chief Information Officer Finds God, Quits Regulator To Become Deacon

Seems like somebody is worried about burning in hell for eternity (and for good reason). No word yet on whether he will be running the HFT (High Frequency Tithing*) program at the church.

* shamelessly stolen from comments at ZeroHedge


Anonymous said...

It's good to be the King and a Goldman..thank you America!

Anonymous said...

It's good to be the King and a Goldman..thank you America!

JR said...

And here's how GS used sub-prime mortgages to their advantage:

Goldman Sachs, Citigroup Sued Over Subprime Loans
July 12, 2010, 10:00 PM EDT

July 12 (Bloomberg) -- Goldman Sachs Group Inc., Citigroup Inc., Morgan Stanley and dozens more bank and brokerages were sued by a Boston area-based fund seeking reimbursement for losses related to subprime loans.

More here:

Anonymous said...

Anyone else wondering if Andrew is a reporter or a shill?

With a vote on the final version of legislation to overhaul the nation’s financial regulatory system pending in the Senate, Andrew Ross Sorkin turned to Henry M. Paulson Jr. to find out what the former secretary of the Treasury and central government actor during the panic of 2008 thought of the bill.

Paulson Likes What He Sees in Overhaul
July 13, 2010, 5:32 am
“Some things would hopefully have been identified earlier,” he said. While his critics have contended that regulators missed warning signs about impending problems, he said he had little visibility into certain businesses, like A.I.G., until it was too late.

“I doubt that there is any regulator that had all the information that would have allowed something like what was happening at the A.I.G. holding company to have occurred,” he said.
But he did not seem surprised by that development — or lack of. “There’s plenty of blame to go around — the banks, investors, rating agencies, regulators. But let’s not forget policy makers,” he said.

One policy that Mr. Paulson was not so sure of was the so-called Volcker rule, which would largely prohibit banks from investing with their own capital and being in the business of hedge funds and private equity.

Anonymous said...

Warning to CFTC....same old liquidity argument

CFTC weighs crack-down on high-frequency trades

(Reuters) - The U.S. Commodity Futures Trading Commission risks hurting markets if it is too aggressive in flexing its regulatory muscle to rein in high-frequency traders, exchanges and participants are expected to tell the agency on Wednesday.

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