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

Sunday, August 8, 2010

Goldman Sachs Daily Links and News Weekend Update - August 6-8

Bank of America, Goldman, Deutsche Bank, AstraZeneca, BP in Court News
Did Deutsche Bank Use Goldman Sachs-Style Securities To Trade ...
By Ryan McCarthy
Goldman Sachs Is Said to Shift Principal-Strategies Business Into a Fund
Bloomberg What It's Like To Be A Quant At Goldman Sachs: "Like A Porn Fluffer"
The Business Insider
Goldman prop trading unit to become fund - Bloomberg
 Ex-Goldman Sachs Employee Compares Working At Bank To Being A 'Fluffer' On A ...
Huffington Post (blog)
Angelides Says FCIC to Keep Pressing Goldman for Data: Video
Wall St. Faces Specter of Lost Trading Units
New York Times
By GRAHAM BOWLEY and ERIC DASH They are the elite among the elite at Goldman Sachs,

Goldman Sachs: Unemployment is Going Back to 10%
Wall Street Journal (blog)
July jobs report renews concerns over a stalled recovery
Washington Post


Anonymous said...

Have more respect for this guy than all the big moneyed punks at Goldman...and look he's doing something to benefit the country and're(ie. Goldman & TBTF) the dregs of society!

Once-homeless veteran's company hires, trains ex-warriors

Pate works closely with Faith Hope Love Charity Inc., of Palm Springs, which provides resources and help for veterans. The charity operates Stand Down, a residential program that orientates vets back into civilian life.

In the past few months, Pate has hired a number of veterans through Stand Down. It costs $6,400 per employee for 12 weeks training including the cost of a seamstress, who teaches them how to sew, the pay they receive during training, and the sewing machines.

"One of the fellows who works for me was on the side of the road with a 'homeless veteran' sign. He, his wife and kid were living in a car," Pate said.

Anonymous said...

Wall Street Fines 08/06/10

Janet Tavakoli of Tavakoli Structured Finance tells what she thinks of recent fines the SEC has imposed on Wall Street giants and where she would like future investigations take place.

JR said...

Another Janet Tavakoli video on what should be done to the banks who caused the recession:

JR said...

A thoughtful essay on what can be done about Money and the Corrosion of American Politics

Anonymous said...

Now Max, you're saying that it's by design for the benefit of the rich to destroy the middle class. Wouldn't that in effect destroy the economy as a whole?

Keiser: No, because if you're a Goldman Sachs banker, you are completely protected from this phenomenon. Plus you're buying gold, you're buying silver and you're buying tangible assets. So you are not taking any risks. It's okay to simply wipe out the middle class. It's a holocaust. Just like the holocaust we saw in WWII. In America we are seeing the holocaust of the middle class by a few extraordinary, greedy, corrupt bankers on Wall Street; principally Goldman Sachs, J.P Morgan and the gang.

JR said...

Goldman Sachs, Morgan Stanley Have $20 Billion in Fund Stakes

By Michael J. Moore

Aug. 9 (Bloomberg) -- Goldman Sachs Group Inc. and Morgan Stanley have invested almost $20 billion of their own money in private-equity, private-debt, real-estate and hedge funds, meaning they may each have to cut those stakes by more than 60 percent to comply with the so-called Volcker rule.

More here:

JR said...

Goldman Under Investigation in U.S. and Britain

Goldman Sachs is under investigation by United States and British watchdogs over the timing of disclosures relating to the Securities and Exchange Commission’s fraud charges against the firm, The Telegraph reported.

More here:

JR said...

Goldman Sachs Is Sued by Technicians Claiming Bank Denied Overtime Pay
By William McQuillen

Goldman Sachs Group Inc. was sued by five computer-network technicians who claim the bank denied them overtime pay for their work as contractors.

More here:

Anonymous said...

Reagan insider: 'GOP destroyed U.S. economy'
Commentary: How: Gold. Tax cuts. Debts. Wars. Fat Cats. Class gap. No fiscal discipline

Stage 3. Wall Street's deadly 'vast, unproductive expansion'
Stockman continues pounding away: "The third ominous change in the American economy has been the vast, unproductive expansion of our financial sector." He warns that "Republicans have been oblivious to the grave danger of flooding financial markets with freely printed money and, at the same time, removing traditional restrictions on leverage and speculation." Wrong, not oblivious. Self-interested Republican loyalists like Paulson, Bernanke and Geithner knew exactly what they were doing.

They wanted the economy, markets and the government to be under the absolute control of Wall Street's too-greedy-to-fail banks. They conned Congress and the Fed into bailing out an estimated $23.7 trillion debt. Worse, they have since destroyed meaningful financial reforms. So Wall Street is now back to business as usual blowing another bigger bubble/bust cycle that will culminate in the coming "American Apocalypse."

Stockman refers to Wall Street's surviving banks as "wards of the state." Wrong, the opposite is true. Wall Street now controls Washington, and its "unproductive" trading is "extracting billions from the economy with a lot of pointless speculation in stocks, bonds, commodities and derivatives." Wall Street banks like Goldman were virtually bankrupt, would have never survived without government-guaranteed deposits and "virtually free money from the Fed's discount window to cover their bad bets."

RobertM said...

Lots of good stuff in your links today, Anon-guys (Anonymouses? Anonymice? Anonymooses?)

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