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

Thursday, November 11, 2010

What is Goldman Sachs Doing with Its Petty Cash Lately? Update 1

Goldman Sachs has been facing some lawsuits and fines recently. Goldman Sachs was fined $650,000 for not disclosing that two employees had received a Wells notice that the SEC was planning an enforcement action. Read the article in Dealbook here.
Another suit for $1.2 billion is a class action lawsuit for CDOs packaged and sold in 2006 and 2007 called Hudson Mezzanine Funding 1 and 2. You can read that article in WSJ here.
Finally, GS is suing and being counter-sued by France's Natixis over the legality of terminating CDSs (worth $530 million) bought by Goldman Sachs International in London. You can read the story in Bloomberg here
Editor's Note: The 1st comment for this post is very interesting and I thank the Anon reader for posting it. The link from which this comment comes from takes you to Zero Hedge which posted the writings of Michael Krieger owner of Kam LP Fund. To view his entire here.
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Anonymous said...

: The Giant Cover Up

Much has been written about QE2, too much really. However, today I want to take a step back and look at it from another angle. QE2, or the latest round of Federal Reserve quantitative easing is in all reality just a move of extreme desperation by what Max Keiser appropriately calls “financial terrorists” to cover up the recent coup d’etat of what was left of America’s wealth by special interests across the spectrum from politicians themselves, the military industrial complex and crucially the big Wall Street firms that gamble with taxpayers money all the while calling themselves banks. At the center of the theft is and continues to be the Federal Reserve. Using the financial collapse of 2008 as a smoke screen, the totally bankrupt large Wall Street firms using their puppet ex Goldman Sachs CEO and then Treasury Secretary Hank Paulson sufficiently scared our politicians to give them unlimited sums of money, suspend accounting for their bad assets and then go right back to gambling again and paying huge bonuses all the while never accounting for their assets at market value. The hope from the perspective of the Federal Reserve has been that by pumping virtually unlimited amounts of newly printed money into the banking system (which is what quantitative easing is) they could create another fake Keynesian economic boom that would get people back to work and back to sleep again. Housing prices would start rising again and none would be the wiser until the system collapsed again a few years later (which it would be guaranteed to do) but then it would be much too late to stop it.

But there’s a broader sense of collateral damage that I think that has not really been taken on board. And that is confidence in our legal system, in our rule of law, in our system of justice. When you say the Pledge of Allegiance you say, with “justice for all.” People aren’t sure that we have justice for all. Somebody is caught for a minor drug offense, they are sent to prison for a very long time. And yet, these so-called white-collar crimes, which are not victimless, almost none of these guys, almost none of them, go to prison.”

Anonymous said...

Looks like petty cash is going to CONgress...

ALERT: Congress Considering Retroactively Making MERS ‘Legal’

That would be an ex-post-facto law, and is explicitly barred by The Constitution.

Such a bill, were it to be promulgated, would be an act of intentional subversion of The Constitution and a violation of the oath of office of every Congressperson who votes or argues for it.

Anonymous said...

from Dublin:

Michael D.Higgins TD just now on today Fm’s The Last Word Show, stated that transnational financial corporations are acting with impunity. Cited Greek example of GS.
Stated that this is a form of terrorism and that these people are terrorists.

Anonymous said...

Help a guy get some peace!


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