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, September 1, 2011

Goldman Sachs To Stop Robo Signing

Larry's Corner
I can't resist this one.  Robo signing is an illegal practice.  It is the practice of having many people sign one persons name onto documents such as affidavits attesting to a court that the information was examined by that person is is known to be true and correct.

So Goldman - in a deal to sell its servicing company Litton - has agreed not to Robo sign documents anymore.  Let me see if I understand this.

I am admitting to an illegal practice because I want to sell a company I own that is committing this illegal practice.  Because I am one of the To Big To Fail guys, my admission of guilt will have no consequences and in fact will allow me to sell my property adding more cash to my coffers.  This public admission of guilt will keep me out of prosecutions way.  In addition, I promise not to ever do that again should I (GS) ever get back into the servicing business.

Basically, that is what is happening here.  Again, when is a crime not a crime?  Answer: When it is committed by our government protected Too Big To Fail institutions - banks!

Here is the headline in today's MSNBC post:

Goldman to stop robo-signing mortgages

Agreement with New York banking regulator covers many controversial practices 
updated 1 hour 10 minutes ago click here...for link to story on MSNBC

Note that it says "Agreement with New York banking regulator - our government and the Fed - covers many controversial practices.  The key word here by our Too Big To Report The News Properly is controversial practices.  This is not controversial, this is downright illegal.
As part of the deal, the Goldman subsidiary said it will stop the practice of robo-signing mortgage paperwork. The practice, which involved signing mortgage affidavits without reviewing the loan documents and notarizing them in a way that violates state law, led to a temporary halt to most mortgage foreclosures in the fall of 2010.
The sale of Litton Loan Servicing is being made to Ocwen - itself having a rather shady past in the mortgage business.  I would have to believe that Robo signing occurred or is still occuring at Ocwen as it obviously still is at Litton.  This being the case, I see nowhere that Ocwen has agreed not to Robo sign docs any longer.

This is criminal activity being waved in front of our faces.  It is creating fraud on the courts making a sham of our entire court system and it is causing people to lose their homes illegally.  Our laws - what's left of them - are a complete joke if you are among the elite group of people and companies that are TBTF.

Goldman Sachs is admitting to being a criminal enterprise with admissions of guilt like this one.  When will someone we have elected to protect and to serve us take action.  If it were you or I, we would be in handcuff's with all the TV networks showing us being taken away in a police car.

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Anonymous said...

They should null and void the debt...

Endgame: When Debt Is Fraud, Debt Forgiveness Is The Last And Only Remedy

Debt forgiveness, therefore, accomplishes two important things. It eliminates the increasing and outsized portion of productive enterprise to pay off unproductive obligations, and it clears the ground for new opportunities, new thinking, invention, and entrepreneurialism. This is why the ability to declare bankruptcy is so essential in the pursuit of both happiness and innovation.

Currently we are mired in a “new normal” and calls for “austerity” which are nothing more than the delusional efforts of a status quo to avoid the consequences of its own error and fraud and to profit evermore. So bedazzled by the false wealth created by debt multiplication and its concomitant fantasy of ever-higher returns, this status quo continues to be stupidly amazed that people are not spending and that the economy is not picking up. But how could it be otherwise?

Productive wealth has been trapped in a web of parasitic theft, counterfeiting, liability evasion, non-regulation, and prosecutorial non-accountability. All the fundamental attributes of a functioning exchange economy have been warped to reward creative criminals. I spoke extensively about this in my posts from 2008. (Imaginary Worth, Empire of Debt: How Modern Finance Created Its Own Downfall (October 15, 2008)

Joyce said...

I read the link above about forgiving debt. Does that mean that Goldman Sachs will just have to admit it made a "mistake" when it actually defrauded investors? Is it all right to get away with committing fraud? Do they get to keep all the money they obtained from fraud?

If your child stole money from your purse and you found out, would you just forgive him without his making any recompense?

Man, forgiveness means that Goldman Sachs got away with fraud and contributed to the corruption of the political system. How long do you think it will be until Goldman finds another fraudulent way to create more wealth for itself if it doesn't have to answer for its fraudulent behavior now?

Anonymous said...

Well Joyce...if the kidnappers are in bed with the government and the issue is just going to be whitewashed away, is your choice to kill the hostages or to let them go? Its called a hobson's choice.

You need a functional justice system for your scenario.

GS666 said...

Yes, Joyce, there is fraud, there is thievery.  "Is it all right to get away with committing fraud?"  NO! "Do they get to keep all the money they obtained from fraud?"  YES!

I think we (the people) understand that committing crimes are wrong but somehow our politicians and enforcers have created a two tier system in this country.  They have, in effect, changed our Constitution and the Republic for which it stands. 

One question I have always had when all the banksters cried that they were broke and we rushed in with billions of dollars to "bail them out".  Where was all the trillions of dollars they made during the previous years when the bubble was inflating? 

No one has ever addressed that question.  Not one member of any media, not one member of any government agency and not one member of our elected Congress.

Where's The Cash?  Off shore in off shore accounts.  Just like Haliburton who made billions on non bid government contracts - thanks to their former CEO Dick (literally heartless) Cheney while Vice President of these United States. 

Halliburton actually gave up their U.S. corporate citizenship and became a Dubai corporation several years ago.  Now they no longer pay taxes on their earnings from their government contracts and they have absolutely no disclosure what so ever here in the U.S.  They are a true foreign corporation. 

Do you think its possible that they hid their payoffs to Bush, Cheney and Rumsfeld over there?  No matter, all the banks do business in most all other countries of the world.  GS and JPM have a very large presence in China.  Perhaps a lot of Blankfein's and Paulson's retirement funds are over there (the money we don't know about) along with all the ill gotten profits they made before they declared themselves broke.


Rain said...

These headlines mimic the reality of it know which symbolizes the general public when it comes to punishment? tbtf?

Newton man will serve 10 days in jail for overdue library materials

NM officer having sex on car hood won't be charged

Anon said...

Nassim Taleb: The American Economy Will Transfer $5 Trillion To Banker Pay And Bonuses Over The Next 10 Years
That $5 trillion dollars is not money invested in building roads, schools, and other long-term projects, but is directly transferred from the American economy to the personal accounts of bank executives and employees.

Such transfers represent as cunning a tax on everyone else as one can imagine. It feels quite iniquitous that bankers, having helped cause today’s financial and economic troubles, are the only class that is not suffering from them – and in many cases are actually benefiting.

Read more:

Anon said...

Sparks Sued For Selling “Junk,” “Dogs,” “Big old lemons,” and “Monstrosities”

Goldman internally characterized its offerings as “junk,” “dogs,” “big old lemons,” and “monstrosities.”“junk”-“dogs”-“big-old-lemons”-and-“monstrosities”?

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