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, November 6, 2011

The Spreading Putrefaction from Goldman Sachs

We are now beginning to see why it would have been better to remove those in power who were responsible for the deregulation of the banks including many Goldman Sachs alumni. Deregulation enabled the banks to despoil the savings and pension funds of investors and led to the 2008 financial meltdown.

Goldman Sachs was considered the bank that others could aspire to, but that was before the inside rot began to corrode to the outside. Now it seems the ethical decomposition has begun to render a mighty stench in other organizations.

Daniel Wagner and Bernard Condon, two AP Business Writers for SFGate, report the following in an article entitled Corzine steps down at collapsed firm, hires lawyer:
. . . .

In another twist, a top regulator recused himself from the investigation of MF Global because of his longstanding ties to Corzine. Commodity Futures Trading Commission Chairman Gary Gensler, whose agency is leading the effort to locate the missing client money, had worked for Corzine at Goldman Sachs.

MF Global's implosion, which came after Corzine made a big, risky bet on European debt, revived memories of the 2008 banking crisis and the ruin of the much bigger Lehman.

As Corzine, 64, stepped down as chairman and CEO, he said he felt "great sadness about what has transpired at MF Global." Corzine, who ran the investment firm Goldman Sachs years before joining MF Global, said his resignation was voluntary and called it "a difficult decision."

Regulators said more than $600 million in client money is still missing. They said MF Global apparently moved the money out of client accounts within days as the company's cash dried up.

. . . .

In February, he successfully lobbied the Federal Reserve Bank of New York to make MF Global one of only 22 banks authorized as primary dealers of U.S. Treasury securities. The New York Fed's president and CEO, William Dudley, was a partner at Goldman until 2007.

Corzine later lobbied his company's main regulator, the CFTC, on new rules, including one related to the handling of client money. He held a call with former Goldman colleague Gensler in July, according to public records.

Read the entire article here

. . . . . . . . . . . . . . .

So we see the rot, the moral decay, affecting a lot of people--Corzine (formerly of GS), Gensler (formerly of GS), Dudley (formerly of GS) and even President Obama

No Change After All

By Al Lewis - WSJ Al's Emporium
. . . .

Here's what Mr. Obama said in October 2009 while stumping for Mr. Corzine's re-election bid as the Democratic governor of New Jersey:

• "You've had an honorable man, a decent man, an honest man, at the helm of this state. … He's fought for what matters to ordinary folks."

• "People…say, 'You know, I was saving up all my life. …. Suddenly, because of this financial crisis, I may have to go back to work.' "

• "Jon knows these are challenging times. This is why he got into public service. He didn't do it for the paycheck."

• "This crisis…came about because of the same theories, the same lax regulation, the same trickle-down economics that the other guy's party has been peddling for years."

• "Jon's got the mop and he's cleaning up after somebody else's mess."

Now someone else has the mop, and they're cleaning up Mr. Corzine's mess. After losing his gubernatorial bid to Republican Chris Christie, Mr. Corzine became chief of a $41 billion investment firm called MF Global, trading derivatives and other wacky securities that led to the financial collapse of 2008.

. . . .

Read the entire article here


We're all Owned said...

Nail, Meet Hammer

Keystone cops said...

Protesters Arrested Outside NYC Courthouse on Bank Transfer Day

At least 20 Occupy Wall Street protesters
were arrested Saturday as police used nets to clear a sidewalk in front
of a state courthouse in Lower Manhattan to make way for nonexistent

The move puzzled protesters, who were
blocked from taking the granite steps of the State Supreme Court
building before being told by police officers that they had to leave the
sidewalk to make way for pedestrian traffic. “We are pedestrian
traffic,” the crowd shouted in response.

Real journalist said...

On Friday, Zuccotti Park was crowded all day and into night with the
young and old, including several hundred who remain in the park at night
and stay in low tents of nylon set down in rows. They sleep wrapped in
thermal covers.

They were helped to stay warm yesterday by Brian, who is from New
Jersey. He sits on a bike on a raised platform like this bike I’m on, a
stationary, doing what I am doing now — pedaling without taking a break —
and why? The bike creates power to replace the generators they no
longer have since the cops came in at night and took them all away
because the head cops and fire chiefs and the like announced that the
place was a fire danger.

Walk through the park and you come upon what has become a fixture.

Sitting in chairs with their laps filled with wool were two women who
had been in this park from the start, 37 days as of yesterday. Here is
Marsha Spencer who lives in Hell’s Kitchen in Manhattan. She sits with
hardly a word out of her as these big needles in her hands work on thick
wool face masks, knitting colorful lines of red and blue into a white

Sitting a couple of feet away with the same concentration was Karin,
and her last name is hers and not yours. She is from the East Village
and knits here every day.

We stop when the sky becomes too dark for us to work our needles, Karin said.

This is molestation? Lawlessness? These are animals? Morons?

That’s another kind of story, all right.
Read more:

Fool me once not twice said...

Wall Street’s resurgent prosperity frustrates its claims, and Obama’s

By Zachary A. Goldfarb, Sunday, November 6, 1:30 PM

President Obama calls people who work on Wall Street “fat cat bankers” and his reelection campaign will try to harness public frustration with Wall Street.
Financial executives, for their part, say the president’s pursuit of
new financial regulations are punitive and “holding us back.”

But both sides face an inconvenient fact. During Obama’s tenure,
Wall Street has roared back even as the larger economy has struggled.

Transfer your money said...

As the social media-sparked Bank Transfer Day approaches, the Credit
Union National Association (CUNA) reports that over 650,000 people have
joined credit unions in the last four weeks. In Colorado, the group
reports 14,000 new accounts and $100 million in new deposits.

Credit unions nationally have added $4.5 billion in new accounts
since the end of September, CUNA says, reporting that four out of every
five credit unions affiliated with the group report that the increase is
due to attempts by big banks to raise fees on customers or Bank
Transfer Day, a movement birthed by social media that will take place

Mayor Pinnochio said...

What caused the financial crisis? The Big Lie goes viral.

One group has been especially vocal about shaping a new narrative of
the credit crisis and economic collapse: those whose bad judgment and
failed philosophy helped cause the crisis.
Rather than admit the
error of their ways — Repent! — these people are engaged in an active
campaign to rewrite history. They are not, of course, exonerated in
doing so. And beyond that, they damage the process of repairing what was
broken. They muddy the waters when it comes to holding guilty parties
responsible. They prevent measures from being put into place to prevent
another crisis.
Here is the surprising takeaway: They are winning. Thanks to the endless repetition of the Big Lie.
The Big Lie made a surprise appearance Tuesday when New York Mayor Michael Bloomberg, responding to a question about Occupy Wall Street,
stunned observers by exonerating Wall Street: “It was not the banks
that created the mortgage crisis. It was, plain and simple, Congress who
forced everybody to go and give mortgages to people who were on the

Crossing the line said...

Jack Abramoff Tells Us How Washington D.C. Really Works

Partnership said...

Warren breaks financial "Watergate" of 2011-2012 with confirmation that our financial system is broken beyond repair because of legal system is operating at 100% corruption. This proves that we are no better off than were were systemically than 2007-2008 and that the whole system remains a house of cards with companies such as Fideltiy, Blackrock, Merrill, BOA, JP Morgan as fragile as ever with no regulatory or insurance backstop.

Denial said...

Denial, Delusion and MSM Disinformation

People are in denial or delusional that everything is going to return to
normal.  I blame this on the MSM and the lack of reporting and disinformation on
how bad things really are in the global economy.  After one of my stories
warning about the coming bad economy (circa early 2008), I was asked off-camera
by one of the main CNN anchors if I was ever worried about “causing a
panic.”  I don’t remember exactly what I said back to him, but it was
something like “Telling the truth to the public is always appropriate.” 
(If you want an example of what I was saying at
CNN in March of 2008 before the meltdown, click here.) 
After the last financial meltdown, people in the MSM sat around and
said, “Nobody saw this coming.”  I wonder what their excuse
will be the next time.

Jennifer Collins said...

Sharing some informative video about social media this is very interesting

Post a Comment