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 3, 2011

Goldman Sachs--The Bully of Wall Street

We recognize a bully when we see a TBTF bank, Goldman Sachs, with $933 billion in assets challenging a non-profit credit union with assets of $30 million. Goldman even threatened the Peoples Federal Credit Union with legal action if it did not give back the $5,000 that was supposed to support dinner for the credit union's 25th anniversary.

You can read all of Greg Palast's article here
and see the video below:

You can also see the video here


More of the same said...

Just Another In Our (Corrupt) Paradise

Hopefully, if there is a hell, Jon Corzine will burn there.  A good friend of mine back in NY who is plugged into the Wall Street "whisper" news affirmed that the scuttlebutt about the real number in the MF Global missing funds case is $1.5 billion, not $700 million.  Not only that, but that the internal control systems had been designed to prevent regulators from detecting the illegal activity.  This means that both Corzine and the CFO should go down hard.  Unfortunately for the CFO, he was never CEO of Goldman Sachs or Governor of New Jersey, so he will likely go down in flames while Corzine skates away in shame because of this hidden code in our system:  "when you see money flowing to those who deal, not in goods, but in favors."

Choose42 said...

Divine intervention requested said...

16 Arrested in March on Goldman Sachs

“The banking system has been shot through with greed,” said West, a
professor at Princeton University. He marched arm in arm with several
protesters, whom he referred to as his “brothers and sisters.” Some
protesters held signs that read “Out of Your Ivory Tower” and “Don’t
Feed the Bull.”

Reverend Billy, dressed in his signature white suit, called the
Occupy movement “real, physical, actual hope,” and he blamed President
Barack Obama for “drain[ing] all meaning from the word ‘hope.’” Talen
added: “He’s no less corrupt than George Bush. He’s been unable to
regulate these people,” referring to financial institutions.

Eforeragon said...

Yep, Lloyd Blankstein and the goldman boys really have got the system woked.

@d57fd9d9ea2d717099cb9e9f32ad1d93 :

Thanks for the link


The regulators suck said...


Credit Derivatives and Leverage Sank Jon
Corzine’s MF Global

Credit Derivatives and Leverage Sank Jon Corzine’s MF Global
“Repo to Maturity” Transactions Are in Substance Total Return Swaps, a Type of Credit Derivative.
Fallout Is Worse Than Lehman For the Exchange-Traded Futures Markets.

MF Global Admitted “Diverting” Money from Segregated Accounts
What isn't usual is diverting money from segregated customer accounts. It’s too late to blame
“sloppiness, bookkeeping, or accounting,” MF Global admitted it “diverted” money from customers’
segregated accounts.
The fact that MF Global was exposed to default risk and liquidity risk because of its “repo-to-maturity”
transactions and that the risk was- linked to European sovereign debt was disclosed in MF Global’s 10K
for the year ending March 31, 2011, a required financial statement filed with the SEC. The CFTC and
other regulators had the information right under their noses, but it appears they didn’t understand
that they were looking at a leveraged credit derivative transaction that could lead to margin calls that
MF Global would be unable to meet.
Even if all the money can eventually be recovered, it doesn’t change the fact the MF Global took
impermissible steps.

Disgraceful said...

CFTC Update on the Investigation Into Manipulation of the Silver Market In Progress Since 2008

Master Blaster runs bartertown said...

Friday, November 4, 2011
Could MF Global Be The Lehman/AIG Event Trigger?

     Segregated reserve bank accounts under SEC Rule 15c3-3:  The SEC Act of 1934 requires broker dealers to maintain "special reserve bank accounts" strictly for customers which are separated from the broker dealer's own accounts.

First off, I just want to say that if Jon Corzine does not see jail time over this then our system is seriously corrupt and fraudulent and we're all a bunch of lifeless serfs if we don't join the Occupy movement to protest the raping and pillaging our country by a select few.  That's the bottom line.

The brokerage accounts of MF are being moved to several different brokers who are presumably on sound financial footing.  Here's the problem:  it looks like there must be some missing collateral associated with those customer accounts to the tune of about $1 billion:

    Call it the mother of all margin calls: Up to 50,000 former customers of bankrupt broker MF Global must post some $1 billion in additional collateral to new brokers almost overnight, or be forced out of their trades.

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