Tuesday, March 19, 2013


Goldman Sachs is it a Cancer or just a Parasite of the US financial system?

I need to remind the Brazilian people over and over again until the honest members of the Brazilian Congress and the Brazilian mainstream media start grasping this very important point of what is at the core of the pillaging of other people's assets that is going on around the world.

The only way Wall Street banksters know how to make money today, is by creating massive scams and by pillaging the assets of people from around the world – they are bottom feeders, parasites and a cancer to the world international economic and financial systems.

Brazil will be a very easy prey for these world-class scoundrels, because Brazilians would be impressed by the members of the "Goldman Sachs the Pillage People" and their network of thieves.

These scoundrels are a very special type of gangster, and they belong to the most successful, sophisticated, polished, and influential mafia family in the United States, and most of these gangsters hold advanced degrees from the best universities, and they are well groomed and slick dressers who wear fashionable clothing to impress their prey.

President Dilma Rousseff needs to go one step further regarding her efforts in trying to drain the swamp in Brazil – she needs to put all Brazilian government agencies on alert and they should go after the criminals from Wall Street such as the "Goldman Sachs the Pillage People" and their network of thieves, because the members of this Mafia family are in Brazil only to cause all kinds of trouble and set up new scams and pillage the entire system of any assets.

Keep in mind that behind of the mask, all you will find it is a glorified bunch of thieves and nothing else.

This nasty cancer is also spreading into Brazil, and eventually this cancer epidemic is going to destroy the entire world.

There's a vicious and virulent cancer that is destroying the economic system of many countries around the world, and today that nasty cancer is also spreading into Brazil.

If Brazilians don't get rid of this nasty cancer, eventually this virulent cancer will destroy the Brazilian economy as it has been doing on everything that this cancer touches.

As economies across the globe all into turmoil - and millions struggle to survive - the banksters at “Goldman Sachs the Pillage People” are pillaging the assets of one country at the time.

On Saturday December 1, 2012 the Financial Times (UK) had a front page article "Brazil's hopes of return to high growth hit as economy shows signs of stalling"

Then they quoted an economist from "Goldman Sachs the Pillage People" regarding what he thinks is wrong with the Brazilian economy.

These guys are complaining that Brazilian policy is making hard for the "Hot Money" to go to Brazil and make a fast buck.

Everything is falling apart Euroland, the Asian economies slow down, the US economy still is in a coma and Wall Street and the financial system needs the massive market intervention, games that the Fed has been playing with its QE....programs and money printing from thin air.

Ben Bernanke and the Fed are destroying the long term health of its insurance companies with this policy of keeping interest rates artificially low close to zero percent - and they are destroying the personal net worth of senior citizens, since interest rates are so low that many seniors are living out of their principal and many senior citizens are afraid that they are going to run out of resources before they die.

There is so much crap going on here in the United States, and also in Europe than ever before - and these guys have the balls to criticize Guido Mantega - the one person who is fighting against the non-sense coming out of the US Federal Reserve and also from the European Central Bank.

If anything Brazil should avoid doing any type of business with "Goldman Sachs the Pillage People" and their network of thieves.

Today, "Goldman Sachs the Pillage People" and their network of thieves, control Greece, Italy, the European Central Bank, the US Federal Reserve and Treasury, and their latest conquest is the Bank of England.

It seems to me that the "Goldman Sachs the Pillage People" Mafia family and their network of thieves are trying to take over the world one country at the time.

And you can bet that these crooks also want to set Brazil for a fall for them to pillage everything in sight in Brazil.

You have to be a JACKASS and an idiot to do any type of business with these crooks.



XXXXXXXXXXXXXXXXXXXX



Goldman Sachs is it a Cancer or just a Parasite of the US financial system?

Thread at Elite Trader Economics Forum: Goldman Sachs is it a Cancer or just a Parasite of the US financial system?”
 
Note: The above information about “Goldman Sachs the Pillage People” was posted at the Elite Trader Economics Forum from April 11, 2010 to December 31, 2012.

The above were all of my postings on that thread “Goldman Sachs is it a Cancer or just a Parasite of the US financial system?”

When the people at Elite Trader Forum decided to delete all that excellent information about “Goldman Sachs the Pillage People” and their network of thieves – during these 3 years we had 395 postings on that thread and over 43,000 viewers.

The information was erased from the Elite Trader Economics Forum around January 20, 2013, but above is a copy of every single one of my postings on that thread as follows:


Part 1


April 11, 2010

SouthAmerica: Finally the real Goldman Sachs is being exposed to the world one scandal at the time, one business deal after another.

Goldman Sachs is like the fireman that starts the fire, and then later show up to try to put the fire out – but in most cases the property ends up burning to the ground.

After reading the many articles on the major newspapers such as The New York Times, the Financial Times (UK) and in many business magazines, and a book on that subject on how Goldman Sachs and its Network of scoundrels has had a major impact in the Wall Street bailout of 2008, and on how their scam artists have set up financial traps for countries such as Greece, and to local communities around the United States.

After reading all the material that is available today about this company and its network of scoundrels the only conclusion anyone with any common sense can arrive to be that this company is nothing more than the most prosperous and well connected of the mafia families located in New York City.

It seems to me that this company makes its money by setting up traps on unsuspecting countries, on unsuspecting local communities around the United States, by milking US government programs to the bone, or by taking for a ride any naïve investors from sovereignty investment funds of other countries to savvy investors that still trust these scoundrels.

I wonder how many more garbage and scandals are going to appear in the near future in relation to anything that Goldman Sachs did with other countries in Europe, Brazil, Asia, and in other communities around the USA?

The real question is: Is Goldman Sachs a cancer in the US financial system or just a parasite that feeds itself from naïve and unsuspecting investors?

How these scoundrels and scam artists keep getting away with murder time after time?

If the Goldman Sachs rocket scientists helped you, your company or your community in setting up any type of finance then I would check very closely the details of the deal to find out if these guys didn’t leave behind a real minefield that can put you, your company or your community out of business.

With everything that has been coming out in the last two years regarding Goldman Sachs you have to be an idiot to do business with them and their network of scoundrels.

Goldman Sachs has been among the symbols of American capitalism around the world for a long time, but people from around the world has started to wake up and realize that this is just another American capitalist symbol that has got rotten to the core.


*********


Here is what I had posted on the other thread regarding Goldman Sachs:


April 9, 2010

SouthAmerica: Reply to buzzy2

Joseph Stiglitz was not the culprit regarding Greece’s economic meltdown.

As usual it was the rocket scientists that work for Goldman Sachs.

Goldman Sachs was the real culprit advising Greece, and badly hurting them with their scam artist, crooked and incompetent advice.

And if you have the chance to read the latest issue of Rolling Stone magazine (dated April 15, 2010) “How Wall Street Ripped Off Main Street” by Matt Taibbi – then you would find out that the scoundrels from Goldman Sachs did not screw only the Greeks, Goldman Sachs looted main street in many communities around the United States leaving behind massive corruption scandals and a wasteland of bankrupted communities.

Goldman Sachs is the most powerful Mafia family in the United States in every way, and more profitable than any of their peers:

1) Goldman Sachs the Pillage People
2) Lucchese
3) Bonanno
4) Gambino
5) Colombo
6) Genovese

Note: By the way, one of the top scoundrels of Goldman Sachs former US Treasury Secretary Henry Paulson just met with the Chinese Premier Wen on April 7, 2010 in Beijing, during which he probably try to set up the Chinese leader to take the Chinese for a ride regarding the coming IPO’s of major Chinese banks.

You can bet if the Chinese listen to Hank Paulson they are going to get screwed in a big way.


XXXXX


Part 2


April 11, 2010

SouthAmerica: Reply to Nutmeg

You said: “The King of Due Diligence (Warren Buffett) bought some GS, I presume he is of the opinion there's no shortage of idiots willing to do business with the parasitic cancer.”

During the financial meltdown of 2008 Warren Buffett showed his true colors to the world; a self-serving greedy old man and nothing else – and conflict of interest is his middle name.

Here are some of my postings on ET forum when all the fiasco related to the Wall Street bailout was going on:


*****


October 20, 2009

SouthAmerica: …I used to respect and admire Warren Buffett for the last 40 years then he lost most of his credibility about a year ago when he went around peddling the Wall Street bailout that helped him to line up his pockets.

I used to believe that Warren Buffett represented ethics, and high integrity. Now I understand a little better why he is the richest man in the land and how naïve I have been all this time.

Today Warren Buffett credibility is zero as far as I am concerned, and I understand he is just a self-serving greedy old man and nothing else – and conflict of interest is his middle name.


*****


October 2, 2008

SouthAmerica: After watching Warren Buffett being interviewed on the Charlie Rose Show - I posted the following in the comments section of that TV show.

I just watched Charlie Rose interview Warren Buffet the richest man in the United States and he almost begged that Congress pass the Wall Street bailout.

Warren Buffet looked desperate about this Wall Street bailout, and he even suggested that Congress should give Treasure Secretary Paulson a blank check probably for him to use it trying to stop a meltdown in the derivatives market related to the tsunami of redemptions that is affecting the $ 3 trillion dollar Hedge Fund industry and these guys are loaded with all kinds of derivatives instruments – that is why Secretary Paulson want the authority to buy any type of financial instruments since he already placed the orders to buy $ 700 billion dollars of toxic derivatives that just God knows if these instruments are already completely worthless at this point – and the derivatives market an unregulated $ 62 trillion dollar financial weapon of mass destruction that has exploded – and nobody knows what kind of toxic fallout is underway that is going to infect the entire global financial system.

http://www.elitetrader.com/vb/showthread.php?s=&postid=2612803&highlight=Warren+Buffett+Paulson#post2612803


******


October 17, 2008

SouthAmerica: I was just turned the TV on to CNBC to check the market averages and they started talking about an article by Warren Buffett that was published on The New York Times today.

First, Mr. Buffett’s credibility has been evaporating during this current financial crisis, he has become just a mouth piece for the $ 700 billion dollars bailout, and in favor of giving Treasury Secretary Paulson a blank check, and he is involved in all kinds of self-interest deals related with all the activities that is going on related to this bailout…

http://www.elitetrader.com/vb/showthread.php?s=&postid=2328083&highlight=Warren+Buffett+Paulson#post2328083


*****


October 18, 2008

SouthAmerica: …No wonder we have a crisis of trust in the banking system and financial market, with so much US government intervention making an effort to keep the distortions in the US market from adjusting itself and finding a new equilibrium and the real prices deflated from the artificial bubbles, and artificial thinking.

Here is what I mean by conflicts of interest by Mr. Buffett:

I mentioned on the above posting about Mr. Buffett’s relationship with Treasury Secretary Paulson, and his new investment in Goldman Sacks on the days prior to the approval of the bailout that Mr. Buffett was lobbying for it on the Charlie Rose Show.

Berkshire Hathaway, Inc. is the top institutional holder of Wells Fargo & Company stock. As of June 30, 2008 Berkshire Hathaway owned 9 percent or 290,654,868 shares of common stock of Wells Fargo valued at $ 7 billion dollars.

On this new US government welfare program for the major US banks the Wells Fargo bank is getting $ 25 billion dollars (including $ 5 billion dollars that was going to Wachovia now part of Wells Fargo)

Two weeks ago the Goldman Sacks investment banking company turned itself into a banking holding company just in time to qualify for this new US government welfare program, and they are going to receive $ 10 billion dollars.

In just these two companies that Mr. Buffett has interests worth about $ 10 billion dollars – combined these 2 companies are receiving from the US government welfare program for the rich – a handout to the tune of $ 30 billion dollars.

The latest issue of Business Week magazine dated October 27, 2008 has a table listing all the major banks that are receiving this handout from the US government and they list also the amount of the welfare check that each bank is going to receive.

I am sure that Mr. John M. Templeton wouldn’t have involved himself in such a scheme completely full of conflicts of interest, and he also wouldn’t have sold his soul and his credibility for a fist full of dollars.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=131887&perpage=6&pagenumber=5


*****


October 9, 2008

SouthAmerica: No wonder Warren Buffett invested a few billion US dollars in Goldman Sacks then he became part of the hard sell for the $ 700 billion dollars Wall Street Bailout – And Wareen Buffett recommended on the Charlie Rose Show that Congress give a blank check for his long time friend from Goldman Sacks Treasury Secretary Paulson.

Since the world markets are in complete turmoil and in the middle of a major crisis of confidence these to inspire confidence, as soon as the bailout were approved by Congress Secretary Paulson announced that one of his old cronies from Goldman Sacks was going to be the person assigned to distribute the loot.

Last night I was watching the Lou Dobbs show on CNN and he mentioned that AIG was getting another $ 38 billion dollars from the US government on top of the other $ 85 billion that AIG got just a few days ago.

http://www.elitetrader.com/vb/showthread.php?s=&postid=2114553&highlight=Warren+Buffett+Paulson#post2114553


XXXXX


Part 3


April 11, 2010

SouthAmerica: Reply to Ghost of Cutten

The articles of Matt Taibbi published by Rolling Stone magazine are just the tip of the iceberg. In the last 2 years we had a ton of material about Goldman Sachs and their network of scoundrels published by the major newspapers such as The New York Times, and the Financial Times (UK) and the major US business magazines such as Business Week, Fortune, and so on…

If you connect the dots on everything that has been published about Goldman Sachs and their Network of scoundrels then you get the picture of a major Mafia Family with powerful connections and influence inside Washington – a real cancer growing out of control and affecting in a destructive way the US financial, economic and political system. (And undermining the financial system of other countries such as Greece with their crooked solutions and ways of doing business.)

I would recommend that you read the book “It Takes a Pillage” – that book explain in detail the demise and complete destruction of the US economy by the power brokers of Wall Street.

After reading this book you will understand why the new generations of Americans don’t have any future – Wall Street stole their future and pissed the money away to the tune of trillions of US dollars.

The year 2008 marks the end of an era and the capitalist brand of America. In the same way that people associate the destruction of the Berlin wall with the collapse and demise of the Soviet Union.

For you to understand why the US is in such a massive trouble I would recommend that the members of this forum (from any political party or ideology) get the following book, because the author gives an outstanding explanation and detail information about what happened in the US financial markets that ended up in a global financial meltdown.

After reading this book you will have a much better understanding about what is going on with the US economy today, how we got to this point and the massive trouble that lies ahead of us.

Book: “It Takes a Pillage” by Nomi Prins
(Published in October 2009 by John Wiley & Sons Inc.)

Yes, the party is over and the future of the US economy can be summarized in one word: “Titanic”


***********


I am almost finished reading the following book: “It Takes a Pillage” Behind the Bailouts, Bonuses, and Backroom Deals from Washington to Wall Street. By Nomi Prins.

This book (296 Pgs) was published in October 2009. Nomi Prins is a former managing director at Goldman Sachs and her book exposes the corruption in Washington and Wall Street. Her articles are published on Fortune magazine, the Nation, Mother Jones, and other publications. And her latest book has become an important source of information about the corruption in Washington and its connection to Wall Street.

You’ll find out how the revolving door between Wall Street and Washington enabled and encouraged the disastrous behavior of large investment banks. You’ll meet the Pillage People: the men who funneled trillions of dollars directly to the banks and the executives whose companies drained the American economy.

You’ll learn which of the Federal Pillage Triumvirate pirated the biggest part of a $ 10.7 trillion bounty-Hank Paulson, Ben Bernanke, or Timothy Geithner. You’ll decide which private-sector pillager took the biggest share of spoils…

…Worse, the Second Great Bank Depression led to the very expensive and largely nontransparent $ 13 trillion bailout of the financial industry, while leaving the banking and investment structures intact.

Wait? More than $ 13 trillion in the bailout? If you thought this bailout was only about a $ 700 billion thing called Troubled Asset Relief Program (TARP), which is what the banks, the Treasury Department, and the Federal Reserve want you to believe, you really need this book…

…By summer of 2009, the price tag for the federal government’s bailout of the banks (including all federal loans, capital injections, and government loan guarantees) stood at approximately $ 13.3 trillion, roughly dividing into $ 7.6 trillion from the Fed, $ 2.5 trillion from the Treasury (not including additional interest payments), $ 1.5 trillion from the FDIC (including a $ 1.4 trillion Temporary Liquidity Guarantee Program (TLGP) initiated in October 2008 to help banks continue to provide lending to consumers), a $ 1.4 trillion joint and a $ 300 billion housing bill. This number is so huge, it is almost meaningless. But by comparison, $ 13.3 trillion is more money than the combined costs of every major U.S. war (including the American Revolution, the War of 1812, the Civil War, the Spanish-American War, World War I, World War II, Korea War, Vietnam War, Iraq Wars, and Afghanistan War), whose total price tag, adjusted for inflation, is $ 7.2 trillion. Plus, according to Oliver Garret, the CEO of Casey Research, who studied this war-versus-bank-bailout comparison, “World War II was financed by savings, the American people’s savings, when Americans bought war bonds…today, families are in debt and the government is in debt. Lots and lots of debt.

Meanwhile, $ 50 trillion in global wealth was erased between September 2007 and March 2009, including $ 7 trillion in the U.S. stock market and $ 6 trillion in the housing market. In addition, the total amount of retirement and household wealth trashed was $ 7.5 trillion in pension plans and household portfolios, $ 2.0 trillion in lost income in 401 (k)s and individual retirement accounts (IRAs), $ 1.9 trillion in traditional defined-benefit plans, and $ 3.6 trillion in non-pension assets…


*****

Note: The above information is quoted from the “Introduction” to Nomi Prins latest book.


XXXXX


Part 4


April 12, 2010

SouthAmerica: I am not surprised that after 1 and ½ years has passed since of the massive Wall Street financial meltdown nothing it has been done in the United States regarding new government regulations of the US financial industry including derivatives and so on…

It is business as usual until the next US financial collapse, which can happen at any time. And the next time the US government safety nets won’t be there since these scoundrels have been milking and raiding the resources of the US government to the bone.


*******


The Guys From ‘Government Sachs’
By JULIE CRESWELL and BEN WHITE
Published: October 19, 2008
The New York Times

THIS summer, when the Treasury secretary, Henry M. Paulson Jr., sought help navigating the Wall Street meltdown, he turned to his old firm, Goldman Sachs, snagging a handful of former bankers and other experts in corporate restructurings.

In September, after the government bailed out the American International Group, the faltering insurance giant, for $85 billion, Mr. Paulson helped select a director from Goldman’s own board to lead A.I.G.

And earlier this month, when Mr. Paulson needed someone to oversee the government’s proposed $700 billion bailout fund, he again recruited someone with a Goldman pedigree, giving the post to a 35-year-old former investment banker who, before coming to the Treasury Department, had little background in housing finance.

Indeed, Goldman’s presence in the department and around the federal response to the financial crisis is so ubiquitous that other bankers and competitors have given the star-studded firm a new nickname: Government Sachs.

The power and influence that Goldman wields at the nexus of politics and finance is no accident. Long regarded as the savviest and most admired firm among the ranks — now decimated — of Wall Street investment banks, it has a history and culture of encouraging its partners to take leadership roles in public service.

It is a widely held view within the bank that no matter how much money you pile up, you are not a true Goldman star until you make your mark in the political sphere. While Goldman sees this as little more than giving back to the financial world, outside executives and analysts wonder about potential conflicts of interest presented by the firm’s unique perch.

They note that decisions that Mr. Paulson and other Goldman alumni make at Treasury directly affect the firm’s own fortunes. They also question why Goldman, which with other firms may have helped fuel the financial crisis through the use of exotic securities, has such a strong hand in trying to resolve the problem.

The very scale of the financial calamity and the historic government response to it have spawned a host of other questions about Goldman’s role.

Analysts wonder why Mr. Paulson hasn’t hired more individuals from other banks to limit the appearance that the Treasury Department has become a de facto Goldman division. Others ask whose interests Mr. Paulson and his coterie of former Goldman executives have in mind: those overseeing tottering financial services firms, or average homeowners squeezed by the crisis?

Still others question whether Goldman alumni leading the federal bailout have the breadth and depth of experience needed to tackle financial problems of such complexity — and whether Mr. Paulson has cast his net widely enough to ensure that innovative responses are pursued.

“He’s brought on people who have the same life experiences and ideologies as he does,” said William K. Black, an associate professor of law and economics at the University of Missouri and counsel to the Federal Home Loan Bank Board during the savings and loan crisis of the 1980s. “These people were trained by Paulson, evaluated by Paulson so their mind-set is not just shaped in generalized group think — it’s specific Paulson group think.”

Not so fast, say Goldman’s supporters. They vehemently dismiss suggestions that Mr. Paulson’s team would elevate Goldman’s interests above those of other banks, homeowners and taxpayers. Such chatter, they say, is a paranoid theory peddled, almost always anonymously, by less successful rivals. Just add black helicopters, they joke.

… MR. PAULSON himself landed atop Treasury because of a Goldman tie. Joshua B. Bolten, a former Goldman executive and President Bush’s chief of staff, helped recruit him to the post in 2006

…Neel T. Kashkari arrived in Washington in 2006 after spending two years as a low-level technology investment banker for Goldman in San Francisco, where he advised start-up computer security companies. Before joining Goldman, Mr. Kashkari, who has two engineering degrees in addition to an M.B.A. from the Wharton School of the University of Pennsylvania, worked on satellite projects for TRW, the space company that now belongs to Northrop Grumman.

He was originally appointed to oversee a $700 billion fund that Mr. Paulson orchestrated to buy toxic and complex bank assets, but the role evolved as his boss decided to invest taxpayer money directly in troubled financial institutions.

Mr. Kashkari, who met Mr. Paulson only briefly before going to the Treasury Department, is also in charge of selecting the staff to run the bailout program. One of his early picks was Reuben Jeffrey, a former Goldman executive, to serve as interim chief investment officer.

Mr. Kashkari is considered highly intelligent and talented. He has also been Mr. Paulson’s right-hand man — and constant public shadow — during the financial crisis.

He played a main role in the emergency sale of Bear Stearns to JPMorgan Chase in March, sitting in a Park Avenue conference room as details of the acquisition were hammered out. He often exited the room to funnel information to Mr. Paulson about the progress.

Despite Mr. Kashkari’s talents in deal-making, there are widespread questions about whether he has the experience or expertise to manage such a project.

“Mr. Kashkari may be the most brilliant, talented person in the United States, but the optics of putting a 35-year-old Paulson protégé in charge of what, at least at one point, was supposed to be the most important part of the recovery effort are just very damaging,” said Michael Greenberger, a University of Maryland law professor and a former senior official with the Commodity Futures Trading Commission.

“The American people are fed up with Wall Street, and there are plenty of people around who could have been brought in here to offer broader judgment on these problems,” Mr. Greenberger added. “All wisdom about financial matters does not reside on Wall Street.”

While Mr. Kashkari is playing a prominent public role, other Goldman alumni dominate Mr. Paulson’s inner sanctum.

The A-team includes Dan Jester, a former strategic officer for Goldman who has been involved in most of Treasury’s recent initiatives, especially the government takeover of the mortgage giants Fannie Mae and Freddie Mac. Mr. Jester has also been central to the effort to inject capital into banks, a list that includes Goldman.

Another central player is Steve Shafran, who grew close to Mr. Paulson in the 1990s while working in Goldman’s private equity business in Asia. Initially focused on student loan problems, Mr. Shafran quickly became involved in Treasury’s initiative to guarantee money market funds, among other things.

Mr. Shafran, who retired from Goldman in 2000, had settled with his family in Ketchum, Idaho, where he joined the city council. Baird Gourlay, the council president, said he had spoken a couple of times with Mr. Shafran since he returned to Washington last year.

“He was initially working on the student loan part of the problem,” Mr. Gourlay said. “But as things started falling apart, he said Paulson was relying on him more and more.”

The Treasury Department said Mr. Shafran and the other former Goldman executives were unavailable for comment.

Other prominent former Goldman executives now at Treasury include Kendrick R. Wilson III, a seasoned adviser to chief executives of the nation’s biggest banks. Mr. Wilson, an unpaid adviser, mainly spends his time working his ample contact list of bank chiefs to apprise them of possible Treasury plans and gauge reaction.

Another Goldman veteran, Edward C. Forst, served briefly as an adviser to Mr. Paulson on setting up the bailout fund but has since left to return to his post as executive vice president of Harvard. Robert K. Steel, a former vice chairman at Goldman, was tapped to look at ways to shore up Fannie Mae and Freddie Mac. Mr. Steel left Treasury to become chief executive of Wachovia this summer before the government took over the entities.

Treasury officials acknowledge that former Goldman executives have played an enormous role in responding to the current crisis.

… While many Wall Streeters have made the trek to Washington, there is no question that the axis of power at the Treasury Department tilts toward Goldman. That has led some to assume that the interests of the bank, and Wall Street more broadly, are the first priority. There is also the question of whether the department’s actions benefit the personal finances of the former Goldman executives and their friends.

“To the extent that they have a portfolio or blind trust that holds Goldman Sachs stock, they have conflicts,” said James K. Galbraith, a professor of government and business relations at the University of Texas. “To the extent that they have ties and alumni loyalty or friendships with people that are still there, they have potential conflicts.”

Mr. Paulson, Mr. Kashkari and Mr. Shafran no longer own any Goldman shares. It is unclear whether Mr. Jester or Mr. Wilson does because, according to the Treasury Department, they were hired as contractors and are not required to disclose their financial holdings.

… THIS summer, as he fought for the survival of Lehman Brothers, Richard S. Fuld Jr., its chief executive, made a final plea to regulators to turn his investment bank into a bank holding company, which would allow it to receive constant access to federal funding.

Timothy F. Geithner, the president of the Federal Reserve Bank of New York, told him no, according to a former Lehman executive who requested anonymity because of continuing investigations of the firm’s demise. Its options exhausted, Lehman filed for bankruptcy in mid-September.

One week later, Goldman and Morgan Stanley were designated bank holding companies.

“That was our idea three months ago, and they wouldn’t let us do it,” said a former senior Lehman executive who requested anonymity because he was not authorized to comment publicly. “But when Goldman got in trouble, they did it right away. No one could believe it.”

The New York Fed, which declined to comment, has become, after Treasury, the favorite target for Goldman conspiracy theorists. As the most powerful regional member of the Federal Reserve system, and based in the nation’s financial capital, it has been a driving force in efforts to shore up the flailing financial system.

Mr. Geithner, 47, played a pivotal role in the decision to let Lehman die and to bail out A.I.G. A 20-year public servant, he has never worked in the financial sector. Some analysts say that has left him reliant on Wall Street chiefs to guide his thinking and that Goldman alumni have figured prominently in his ascent.

After working at the New York consulting firm Kissinger Associates, Mr. Geithner landed at the Treasury Department in 1988, eventually catching the eye of Robert E. Rubin, Goldman’s former co-chairman. Mr. Rubin, who became Treasury secretary in 1995, kept Mr. Geithner at his side through several international meltdowns, including the Russian credit crisis in the late 1990s.

Mr. Rubin, now senior counselor at Citigroup, declined to comment.

A few years later, in 2003, Mr. Geithner was named president of the New York Fed. The board of the New York Fed is led by Stephen Friedman, a former chairman of Goldman. He is a “Class C” director, meaning that he was appointed by the board to represent the public.

Mr. Friedman, who wears many hats, including that of chairman of the President’s Foreign Intelligence Advisory Board, did not return calls for comment.

During his tenure, Mr. Geithner has turned to Goldman in filling important positions or to handle special projects. He hired a former Goldman economist, William C. Dudley, to oversee the New York Fed unit that buys and sells government securities. He also tapped E. Gerald Corrigan, a well-regarded Goldman managing director and former New York Fed president, to reconvene a group to analyze risk on Wall Street.

Some people say that all of these Goldman ties to the New York Fed are simply too close for comfort. “It’s grotesque,” said Christopher Whalen, a managing partner at Institutional Risk Analytics and a critic of the Fed. “And it’s done without apology.”

But when bankruptcy loomed for A.I.G. — a collapse regulators feared would take down the entire financial system — federal officials found themselves once again turning to someone who had a Goldman connection. Once the government decided to grant A.I.G., the largest insurance company, an $85 billion lifeline (which has since grown to about $122 billion) to prevent a collapse, regulators, including Mr. Paulson and Mr. Geithner, wanted new executive blood at the top.

They picked Edward M. Liddy, the former C.E.O. of the insurer Allstate. Mr. Liddy had been a Goldman director since 2003 — he resigned after taking the A.I.G. job — and was chairman of the audit committee. (Another former Goldman executive, Suzanne Nora Johnson, was named to the A.I.G. board this summer.)

Like many Wall Street firms, Goldman also had financial ties to A.I.G. It was the insurer’s largest trading partner, with exposure to $20 billion in credit derivatives, and could have faced losses had A.I.G. collapsed. Goldman has said repeatedly that its exposure to A.I.G. was “immaterial” and that the $20 billion was hedged so completely that it would have insulated the firm from significant losses.

As the financial crisis has taken on a more global cast in recent weeks, Mr. Paulson has sat across the table from former Goldman colleagues, including Robert B. Zoellick, now president of the World Bank; Mario Draghi, president of the international group of regulators called the Financial Stability Forum; and Mark J. Carney, the governor of the Bank of Canada.

BUT Mr. Paulson’s home team is still what draws the most scrutiny.

“Paulson put Goldman people into these positions at Treasury because these are the people he knows and there are no constraints on him not to do so,” Mr. Whalen says. “The appearance of conflict of interest is everywhere, and that used to be enough. However, we’ve decided to dispense with the basic principles of checks and balances and our ethical standards in times of crisis.”

Ultimately, analysts say, the actions of Mr. Paulson and his alumni club may come under more study.

“I suspect the conduct of Goldman Sachs and other bankers in the rescue will be a background theme, if not a highlighted theme, as Congress decides how much regulation, how much control and frankly, how punitive to be with respect to the financial services industry,” said Mr. Langevoort at Georgetown. “The settling up is going to come in Congress next spring.”

A version of this article appeared in print on October 19, 2008, on page BU1 of the New York edition.

http://www.nytimes.com/2008/10/19/business/19gold.html?_r=1&scp=22&sq=Goldman%20Sachs%20+%20The%20New%20York%20Times%20Magazine&st=cse


XXXXX


Part 5


April 12, 2010

SouthAmerica:

Buffett’s Goldman Stake Pays Richly
The New York Times
July 24, 2009
http://dealbook.blogs.nytimes.com/2009/07/24/buffetts-goldman-stake-worth-91-billion/?scp=112&sq=Goldman%20Sachs&st=cse

…Mr. Buffett’s stake in Goldman is now worth $9.1 billion, or about $4.1 billion more than what he paid 10 months ago, according to an analysis by Linus Wilson, an assistant professor of finance at the University of Louisiana at Lafayette.


******


Goldman-Greece Currency Swap Went Unmentioned
The New York Times
February 17, 2010


Goldman Sachs Group managed $15 billion of bond sales for Greece after arranging a currency swap that allowed the government to hide the extent of its deficit, Bloomberg News reported.

The New York-based firm helped Greece raise $1 billion of off-balance-sheet funding in 2002 through the swap, which European Union regulators said they knew nothing about until recent days, the news service said.

http://dealbook.blogs.nytimes.com/2010/02/17/goldman-greece-currency-swap-went-unmentioned/?scp=146&sq=Goldman%20Sachs&st=cse


*****


How Wall Street Helped Mask Europe’s Debt
The New York Times
February 15, 2010

Wall Street tactics akin to the ones that fostered subprime mortgages in America have worsened the financial crisis shaking Greece and undermining the euro by enabling European governments to hide their mounting debts, The New York Times’s Louise Story, Landon Thomas Jr. and Nelson D. Schwartz reported on Sunday.

Even as the crisis was nearing the flashpoint, banks were searching for ways to help Greece forestall the day of reckoning. In early November — three months before Athens became the epicenter of global financial anxiety — a team from Goldman Sachs arrived in the ancient city with a very modern proposition for a government struggling to pay its bills, according to two people who were briefed on the meeting.

The bankers, led by Goldman’s president, Gary D. Cohn, held out a financing instrument that would have pushed debt from Greece’s health care system far into the future, much as when strapped homeowners take out second mortgages to pay off their credit cards.

It had worked before. In 2001, just after Greece was admitted to Europe’s monetary union, Goldman helped the government quietly borrow billions, people familiar with the transaction said. That deal, hidden from public view because it was treated as a currency trade rather than a loan, helped Athens to meet Europe’s deficit rules while continuing to spend beyond its means.

Athens did not pursue the latest Goldman proposal…

http://dealbook.blogs.nytimes.com/2010/02/15/wall-st-helped-to-mask-debt-fueling-europes-crisis/?scp=203&sq=Goldman%20Sachs&st=cse


*****

Citigroup, Inc. (C)

Robert E. Rubin - He joined Citigroup on October 26, 1999 and on January 9, 2009 Citigroup announced he was resigning after being criticized for his performance.

Citigroup price per share

As of October 29, 1999 = $ 28.66 per share

As of January 9, 2009 = $ 6.73 per share

As of March 5, 2009 = $ 1.02 per share

And for this kind of performance Mr. Rubin earned more than $115 million dollars during a decade at Citigroup.

Note: Rubin sparked controversy in 2001 when he contacted an acquaintance at the Treasury Department and asked if the department could convince bond-rating agencies not to downgrade the corporate debt of Enron, a debtor of Citigroup. Rubin wanted Enron creditors to lend money to the troubled company for a restructuring of its debt. The Treasury official refused.

***


Robert E. Rubin
The New York Times
April 9, 2010

In his long public life, Robert E. Rubin has been a top trader and executive at Goldman Sachs and a widely lauded secretary of the Treasury.

At its unveiling in November 2008, almost the entire Obama administration economic team could be said to be made up of followers of so-called Rubinomics, and many of them had served under Mr. Rubin.

But at the same time, Mr. Rubin's reputation has taken an unaccustomed battering because of the huge losses that led to a federal bailout of Citigroup, where he served as director and senior adviser before stepping down on Jan. 9, 2009. And many followers of Rubinomics, with its emphasis on free trade, deficit cutting and deregulation, have recently been moving away from those tenets — including Mr. Rubin himself.

In an April 2010 Congressional hearing, Mr. Rubin played down his role as chairman of the executive committee of Citigroup's board. He grudgingly conceded that a few savvy investors saw the financial crisis coming, asserting that nearly everyone in the financial services industry had failed to see a dozen powerful forces — from excessive debt levels to trade imbalance — come together in a perfect storm.

Mr. Rubin's stance left several members of the Congressional panel angry. Mr. Rubin earned more than $100 million during a decade at Citigroup. But he emphasized that period less than he did his tenure as a co-chief executive of Goldman Sachs, where he worked before joining the Clinton administration.

Though Mr. Rubin has many friends within the Obama administration and on Wall Street, he has kept a low profile since leaving Citigroup in January 2009. He keeps a Park Avenue office at the Council on Foreign Relations. He was a mentor to Timothy F. Geithner, now Treasury secretary.

… As a top adviser to the last two chief executives, Sanford I. Weill and Charles O. Prince III, Mr. Rubin resisted taking on more operational responsibility at Citigroup. But his advice carried great weight within the bank, especially with Mr. Prince. According to Citi officials, under Mr. Prince, Mr. Rubin pushed for a more aggressive approach toward risk-taking.

As it turned out, Citigroup never installed the kind of tough risk-management review that was a hallmark of Goldman Sachs, and the big bets it made on mortgage-backed securities ballooned into tens of billions in losses.

In late 2007, with the company facing over $15 billion in write-downs from exposure to subprime loans, Mr. Rubin was forced to step forward and briefly assume the chairmanship after Mr. Prince resigned.


XXXXX


Part 6


April 12, 2010

SouthAmerica: He was just trading on inside information, the Goldman Sachs way.

As the article said: ““Mr Friedman’s purchase of Goldman stock a month after the New York Fed directed American International Group to pay its counterparties, including Goldman, at par, and three months before AIG’s $13bn payment to Goldman was officially announced to the public also raises conflict of interest questions,” he said.”

Since Stephen Friedman had been an inside member of the Goldman Sachs Network for many years, it is possible that he has no idea what the concept of “conflict of interest” means, since that was the usual way of Goldman Sachs doing business.


*****

Fed fears over NY officials' share deal
By James Politi in Washington
Published: April 12, 2010
Financial Times (UK)

Senior officials at the Federal Reserve had “misgivings” about allowing Stephen Friedman to own shares in Goldman Sachs even as he served on the board of the New York Fed, congressional investigators said at the weekend.

Edolphus Towns, the Democratic chairman of the House oversight committee, said that after reviewing internal Fed e-mails it was apparent that some officials at the US central bank were concerned about Mr Friedman’s ownership of Goldman stock but were “ultimately overruled”.

Mr Friedman, a Goldman director, was in January 2009 granted a waiver to be on the board of the NY Fed while owning Goldman shares. He resigned as Fed chairman last May, after it emerged that he had bought 37,000 Goldman shares while serving on the board.

Mr Towns said the stock purchase raised conflict of interest questions in connection with the bail-out of American International Group.

“Mr Friedman’s purchase of Goldman stock a month after the New York Fed directed American International Group to pay its counterparties, including Goldman, at par, and three months before AIG’s $13bn payment to Goldman was officially announced to the public also raises conflict of interest questions,” he said.

He added that he would schedule a hearing to learn how “he was permitted to make windfall profits by trading stock in a company he had a role in regulating”.

The Fed declined to comment. Spokesman for Goldman did not immediately respond to requests for comment.

A spokesman for Mr Friedman said that the NY Fed had no role in supervising Goldman and that Mr Friedman acted on the advice of Tom Baxter, general counsel of the New York Fed, in connection with the share purchases that occurred during a “window” in which Goldman directors had no inside information. “At no time while the waiver was pending was Mr Friedman told that anyone had reservations”, the spokesman said.

Mr Towns said continued scrutiny of Mr Friedman was necessary in the context of the proposed financial regulatory reform bill, which is expected to give the Fed broader powers. Financial reform is expected to be top of the political agenda in the coming weeks, as Congress returns to work after a two-week recess and the Obama administration refocuses its domestic priorities in the wake of the passage of its healthcare overhaul.

Last week, senior administration officials said that momentum in favour of financial reform was “picking up” as negotiations entered their final stretch.


XXXXX


Part 7


Tracy McGreedy: Take ur pick, Obama or GS. Symbols of communism vs. capitalism. I'll take the latter.


******


April 12, 2010

SouthAmerica: If you love the brand of capitalism practiced by Goldman Sachs here in the USA and around the world, then you are going to worship and like even more the brand of capitalism practiced in Russia today by the Russian Mob.

I guess the Russian Mob style of capitalism is your cup of tea.

The Goldman Sachs unscrupulous type of capitalism is destroying the foundations of many cities and communities around the United States with their crooked deals.


XXXXX


Part 8


April 12, 2010

SouthAmerica: Replt to wmb

If you are concerned with bonds then you should read the article on Bloomberg/Business Week dated April 12, 2010 “A Bond King Turns Bear.”

The article said: “The almost three-decade bond narket rally may be drawing to a close, says Bill Gross, manager of the $ 214 billion Pimco Total Return Fund, the world’s largest bond fund. “Bonds have seen their best days,” Gross told Bloomberg Radio in a Mar. 25 interview.

…Gross’s global focus extends beyond bonds. The No. 1 thing Americans should do to try to make back wealth is to “move outside of the United States” in choosing stocks, he says….


XXXXX


Part 9


April 17, 2010

SouthAmerica: Yesterday, I was very busy with the over-reaction caused by my latest article published by the Brazzil magazine and the RGE Monitor.

The article generated an article published by the Financial Times (UK) and as the main headline cover article on the major and most important website in Brazil (UOL).

And because of that I did not have the chance to check the news.

Today, when I received my copy of the Financial Times (UK) and I saw the front-page headline saying: “Goldman charged with fraud”, I was neither shocked nor surprised by that news.

But that news gave me great satisfaction of learning that the US government regulators has started filling charges against these scoundrels, and scam artists.

Congratulations to the US government for start taking a courageous and overdue action against these crooks.

I just hope they continue the cleaning job on Wall Street and nail these scoundrels.


XXXXX


Part 10


April 17, 2010

Landis82: I said this once before . . .

And I will say it again, you have no idea what you are talking about. The subject matter is far too complicated for your brain to wrap around.


*****


SouthAmerica: Ha, ha, ha….

Please give us your expert advice, because we need another good laugh.

You are Pathetic.

Who cares about what you say anyway?

You probably still defending and think that Bernie Madoff it’s innocent, because the subject matter is far too complicated and only your brain is capable of understanding these things.

As I mentioned on this thread before, for you to understand why the US is in such a massive trouble I would recommend that the members of this forum (from any political party or ideology) get the following book, because the author gives an outstanding explanation and detail information about what happened in the US financial markets that ended up in a global financial meltdown.

After reading this book you will have a much better understanding about what is going on with the US economy today, how we got to this point and the massive trouble that lies ahead of us.

Book: “It Takes a Pillage” Behind the Bailouts, Bonuses, and Backroom Deals from Washington to Wall Street. By Nomi Prins. (Published in October 2009 by John Wiley & Sons Inc.)

This book (296 Pgs) was published in October 2009. Nomi Prins is a former managing director at GOLDMAN SACHS and her book exposes the corruption in Washington and Wall Street. Her articles are published on Fortune magazine, the Nation, Mother Jones, and other publications. And her latest book has become an important source of information about the corruption in Washington and its connection to Wall Street.


XXXXX


Part 11


April 20, 2010

Landis82: It appears that we lost our serial "cut and paste" Clown.

Anyone ever notice that this idiot leaves the thread because he is unable to think on his own without "cut and pasting" what some author is saying???

A quick "search" of his posts seem to confirm this.


*******


April 20, 2010

SouthAmerica: Reply to Landis82

I just saw the private message that you sent me referring to the above post, since it is so important to you that I read your silly postings – I did not leave the thread because I was unable to go down and think at your level.

I left the thread because I have been very busy answering the readers on Brazzil magazine after my latest article became major news in Brazil and created a major over-reaction regarding that article.

The Brazilian Formula for Success - Dictatorship
Written by Ricardo C. Amaral
Brazzil magazine - Tuesday, 13 April 2010
http://www.brazzil.com/component/content/article/218-april-2010/10381-the-brazilian-formula-for-success-dictatorship.html

By the way, since you missed me so much you can read what I have been doing on the meantime on the following thread.


Here is why the world’s smart money is being invested in Brazil
http://www.elitetrader.com/vb/showthread.php?s=&threadid=76323&perpage=6&pagenumber=28


XXXXX


Part 12


April 20, 2010

SouthAmerica: Reply to Enginer

Here is the translation of my posting on Brazzil magazine.

First, two countries that did an extraordinary job in the last 20 years lifting the population out of poverty – China and Singapore – these two countries have a form of government of dictatorship. Chile also did well economically under a system of dictatorship in the last 20 years.

Why India is not having the same economic positive results as China?

China with their type of dictatorship were able to lift approximately 400 million people out of poverty in the last 20 years, at the same time when India, and Brazil had a mediocre performance when compared with China.

The only explanation to justify this immense difference in economic and social results is that China did it under a system of benevolent dictatorship, and India and Brazil had poorer performance results under a system of democracy.

About 20 years ago Singapore was a very poor country, and since they turned that country into a benevolent dictatorship that country became a model for the rest of the world in how to transform the economic and social system of a country and achieve for its population one of the highest standard of living in the world.

Mexico is another democracy that its economy and social system is going through a self-destruction by the criminal gangs, drug lords, and lawlessness in general.

If the model that Brazil wants to follow is the Mexican model then it makes sense to continue with the same democratic system that will guaranty similar results such as we have in Mexico: Anarchy and Chaos.

Do you remember what happened in May of 2006 in Sao Paulo, Brazil (a country under a democratic system) when the criminal gangs terrorized the population of the city of Sao Paulo and create havoc in the city of Sao Paulo for a number of days?

That was just a little taste of things to come.

Just wait and see when Lula is not around anymore starting in January 2011; to keep the anarchy and chaos from getting completely out of control – resulting in severe negative consequences for the Brazilian economy.


******


Here is the text in Portuguese that I posted following my article published on Brazzil magazine about dictatorship:

Primeiro, dois dos paises que fizeram um trabalho extraordinario nos ultimos 20 anos em levantar o pais da pobreza - a China, e Singapura - estes dois paises sao ditaduras.

Por que a India nao esta tendo o mesmo resultados economicos positivos que a China?

A China com o sistema deles conseguiu levanter por volta de 400 milhoes de pessoas da pobreza nos ultimos 20 anos, e a India levantou uma minoria como o Brazil.

A unica explicacao para esta imensa diferenca nos resultados economicos e sociais e que a China e uma ditadura, e a India e o Brasil sao democracias.

A Singapura era um pais pauperrimo, e desde que se tornou uma ditadura benevolente o pais se tornou um modelo para o mundo de como se transforma um pais para se elevar a um dos maiores living standards do mundo.

O Mexico e outra democracia que esta sendo destruida constantemente pelos criminosos, pelas gangs, e druglords.

Se o modelo que o Brasil quer seguir e o modelo do Mexico dai faz sentido continuar com o sistema atual de democracia que vai te garantir os mesmos resultados do Mexico – anarchy e chaos.

Voce se lembra do que aconteceu em Maio de 2006 ai em Sao Paulo (num pais democratico) quando as criminal gangs terrorizaram a cidade de Sao Paulo. Aquilo foi so um gostinho do que vem por ai.

Quando Lula nao for mais presidente em Janeiro de 2011, ninguem mais vai conseguir segurar a barra no Brasil – com consequencias severas a economia do Brasil.


XXXXX


Part 14


April 22, 2010

SouthAmerica: Everybody that had any dealings with Goldman Sachs in the last 10 years including: major investors in the US and abroad, any foreign government, government at all levels here in the United States – state, county, and local communities – They should all review very carefully all their dealings with Goldman Sachs to establish if they all also got taken for a ride by Goldman Sachs dishonest and fraudulent dealings.

So far we have seen only the tip of the iceberg.


*****

   


"Along with SEC, other investigators and suits may target Goldman Sachs"
By  Tomoeh Murakami Tse and Zachary A. Goldfarb
Washington Post Staff Writer
Thursday, April 22, 2010
The Washington Post

NEW YORK -- As investigators in Massachusetts considered charging Wall Street firms for their role in the financial collapse, they focused on Goldman Sachs because it had bundled and sold the shoddiest of subprime mortgage loans, setting up the housing market for a greater fall by continuing to sell shaky securities even as other banks withdrew.

After discussions with the office of state Attorney General Martha Coakley (D), Goldman last year agreed to pay up to $60 million to end that investigation, the first major settlement involving Wall Street's role in the subprime mortgage crisis.

"Goldman was particularly active with respect to facilitating the lending by two of the more notorious and unsound subprime lenders -- Fremont and New Century," Coakley said Wednesday. "Goldman was especially active with these companies in the latter stages of the subprime lending boom . . . when it should have been increasingly clear to any responsible person that the subprime loan pools underlying securitizations suffered serious problems."

Even before the Securities and Exchange Commission sued Goldman last week, accusing it of creating a complex financial product designed to fail and selling it to unknowing investors, the firm had become a frequent target of investigators. In courts and in Congress, Goldman has been accused of a range of misdeeds, including manipulating oil prices and using taxpayer money for handsome bonuses.
Although Goldman quickly agreed to settle the Massachusetts case, it is gearing up for a court battle with the SEC. The case, analysts said, challenges the heart of Goldman's motto -- "Our clients' interests always come first" -- and could set off a new wave of lawsuits against the firm.

"Anyone who's ever done any investment through Goldman who's lost a significant amount of money all the sudden starts to say, 'Gee, I wonder if there was something else out there that they were doing, which they didn't tell me about, which would have made me not want to invest?' " said Richard L. Scheff, chairman of the law firm Montgomery, McCracken, Walker & Rhoads. "If I'm a person who's lost money, why would I think it's limited to this? You're talking about someone's duty to their clients. That's the principle at issue here."

In Washington, pressure is also growing. Reps. Elijah E. Cummings (D-Md.) and Peter A. DeFazio (D-Ore.) urged the SEC this week to widen its investigation to include securities underwritten by Goldman and backed by American International Group, the insurer that received a massive federal bailout. "Should any of these transactions be found to include fraudulent conduct, any resulting contractual payments from AIG-issued credit-default swaps could be viewed as ill-gotten gains," the lawmakers wrote in a letter to SEC Chairman Mary Schapiro.

…To help it cope with scrutiny, Goldman has hired a former White House counsel, Gregory B. Craig, to advise it on litigation and related matters. A White House official said the administration was surprised to learn about Craig's new assignment, but Craig, now with the law firm Skadden Arps, said he was acting as a lawyer for Goldman, not a lobbyist.

http://www.washingtonpost.com/wp-dyn/content/article/2010/04/21/AR2010042105394.html


*****


Here are other examples of Goldman Sachs way of doing business:

1) Goldman Sachs is reeling under public pressure
By Matt Taibbi
July 2, 2009

After watching its thoroughly maladroit handling of several p.r. problems this week, I’m absolutely convinced that Goldman Sachs can be hurt if enough people keep piling on with the pressure. The latest evidence of this is its abject collapse in the face of questions from Zero Hedge about the possibility that it is using the data its takes from users of its website to front-run those same people.

Front-running takes place when a bank or broker-dealer– say, Goldman, Sachs — executes a trade for its own account before filling its customer’s order. Since a large enough trade (executed by institutional investors, for instance) can actually move the price of the security in question, front-running can be a very profitable activity. It’s sort of like fast-food insider trading. It is common knowledge that front-running on Wall Street is rampant, and I interviewed more than one person for my recent Rolling Stone story who accused Goldman of front-running its big clients in all sorts of arenas, from the internet IPO years to the commodities markets.

What caught Zero Hedge’s attention was a curious disclaimer uncovered on Goldman’s website, which includes a trading platform that visitors can use to execute trades. At one point the disclaimer read:

Monitoring by GS:
Your use of the products and services on this Web site may be monitored by GS, and that the resultant information may be used by GS for its internal business purposes or in accordance with the rules of any applicable regulatory or self-regulatory organization.

Subsequently readers uncovered an even more sinister disclaimer that appears on other Goldman documents (see the quote at the top of this post with the key line “and not for your benefit”). So Tyler Durden over at Zero Hedge wrote to Goldman to ask if this meant what it quite obviously seems to mean, and got this response from the bank’s Senior Vice Scoundrel, Ed Canaday. Note the way he seems to be addressing Dick Durbin, which looks like a case of wish-fulfillment to me:
Dear Mr Durbin:

This is in response to your recent blog about our web site disclaimer. It is quite usual for websites to have disclaimers that refer to the monitoring of site usage. Most web sites, including yours we noticed, track usage by their visitors. This is primarily used for marketing and to help inform decision about enhancing content.


Your suggestion that we monitor our web site to facilitate front-running is untrue and offensive.

Sincerely
Ed Canaday
Vice President
Goldman, Sachs & Co.

In exactly the same manner that Goldman demonstrated with regard to my story, Canaday avoided any of the factual concerns that Zero Hedge presented about the curious disclaimer; in fact his letter, if anything, is such a classic non-denial denial that it really just confirms everyone’s worst suspicions. Most notably, he doesn’t specify what “internal business purposes” the company is talking about, and while he insists it is not front-running, it’s a very thin, curiously worded denial.

That a company as rich and powerful as Goldman would stoop to peering through the web version of a locker-room peephole to make a few extra pennies either front-running random trades or somehow using visitor data “not for their benefit” shows how completely and utterly morally absent this company is. There is not an ill-gotten dollar they will not chase, no matter how small or insignificant the sums might be.

Word should be spread about this and anyone who used the Goldman 360 portral for trading should seriously investigate this situation, as it is entirely possible you’ve been ripped off — legally, perhaps, although how much “legality” a disclaimer like that can confer is a serious question in my mind.

More to the point, the fact that Goldman is getting enough public pressure that it feels it has to respond to these queries shows that the company is reeling. And the fact that their public statements have been so hilariously transparent and clumsy shows that they’re rattled and don’t know how to handle this kind of heat, which they’re not used to getting. Kudos to Zero Hedge for applying the pressure...

http://trueslant.com/matttaibbi/2009/07/02/is-goldman-legally-frontrunning-its-clients/


*****


2) “Is Goldman Stealing $100 Million per Trading Day?”
By Barry Ritholtz - July 9th, 2009

What is the inference of potentially illegality here?

“That Goldman Sachs may just possibly have used security access codes and built a system to acquire trading information PRIOR to transaction commit time points at NYSE.

The profitability of this split-second information advantage would have been and could have been extraordinary. Observed yielding profits at $100,000,000 a day. [summary to address complaints with respect to complexity.]

GS has special access inside the system from its status assisting the Working Group on Financial Markets (colloquially the Plunge Protection Team) created by Presidential Order two decades ago. GC also acts as Special Liquidity Provider for NYSE.

With 60% dominance of NYSE program trading, what’s good for Goldman defines what shows as overall market performance.”

http://www.ritholtz.com/blog/2009/07/is-goldman-stealing-100-million-per-trading-day/




XXXXX


Part 15


April 22, 2010

SouthAmerica: Here is the new “Bernie Madoff” of Wall Street.

April 22, 2010
Huffington Post News

Is Goldman Sachs the World's Biggest Ponzi Scheme?
http://www.huffingtonpost.com/news/goldman-sachs?page=31


*****


Wednesday, January 13, 2010
Goldman Sachs Schemes unheard of”
By Gerald Celente
The Trends Journal - Trends & Forecasts

Gerald Celente on king world news gives a grim view of the 2010 outlook , and it seems that what is coming is even worse than what have passed , after the collapse of 2009 and the crash of the market on March last year the government bailouts and handouts to the too big to fail did not fix the problems but just delayed the collapse…


http://geraldcelentechannel.blogspot.com/2010_01_13_archive.html



http://geraldcelentechannel.blogspot.com/2010/01/celente-goldman-sachs-schemes-unheard.html


Note:
SouthAmerica: “Trend Tracking” by Gerald Celente – It is a very good book that I read many years ago when the book was originally published.

Gerald Celente
Author of “Trend Tracking”


XXXXX


Part 16


April 22, 2010

SouthAmerica: Reply to Enginer

Before we go back to the subject of this thread I want to quote some info from the latest book by John Naisbitt – China’s Megatrends.

Quoting from pg. 18 – “China has a literacy rate of 90.9 percent, life expectancy at birth is 73 years; and the per capita GDP is $5,962.

India has a literacy rate of 61 percent, life expectancy of 69 years, and per capita GDP of $2,762. (GDP’s are on a price power parity basis. Source: IMF)”

Quoting from pg. 174 – China started from a very low base and has come very far, but it still ranks quite low internationally. When its GDP is divided by its 1.3 billion population, the per capita GDP is only $3,315. This can be compared with other figures for per capita ADP, according to the IMF in 2008…India, $1,016.


XXXXX


Part 17


April 30, 2010

SouthAmerica: It seems to me that for now all the “smart money” will be selling short the stock of “Goldman Sachs the Pillage People”.

For the United States to restore some of its credibility around the world regarding Wall Street and its financial markets, then they have to show to the world that they are trying to clean Wall Street of the biggest scoundrels to run the show in Wall Street in decades.

A band-aid will not do at this time when you are dealing with cancer here – in this case we need critical surgery to save Wall Street.

Most of the major financial newspapers, and magazines are going easy on Goldman Sachs the Pillage People – and I can understand why they are doing that since many of these publications are just trying to pay back to the Pillage People for past information and some kind of scoop – and they are also hedging their bets just in case.

Anything that I have been reading in Barons, Bloomberg/Business Week, and so forth I am reading their material with a grain of salt, since I understand the game that they are all playing.

Right now, “Goldman Sachs the Pillage People” is working overtime and bringing from the woodwork anyone with some influence to help its massive PR job in trying to turn this situation around.

If anyone that values his reputation it does not distance himself from “Goldman Sachs the Pillage People” ASAP, then that person or organization it is a big fool.

The one thing that I like to know from the mainstream media is how much money each senator, and congressman has received in contributions from Goldman Sachs the Pillage People in the last few years – going back 5 years is good enough, since that would give you a general idea about which politicians are on the pocket of “Goldman Sachs the Pillage People.”

For all practical purposes the party is over for “Goldman Sachs The Pillage People.”

And I don’t believe those people who are saying that Goldman Sachs the Pillage People has some unique businesses that Wall Street would not be able to do without it.

We know that when “Goldman Sachs the Pillage People” finally implodes and goes out of business like Lehman Brothers, that there will be many people trying to get a piece of the action of what is left of any value from the carcass of “Goldman Sachs the Pillage People.”


XXXXX


Part 18


May 1, 2010

SouthAmerica: Yes, Charlie Rose participated in a recent meeting.

And also a lot of prominent people from Wall Street and American politicians - Ben Bernanke, Larry Summers, Timothy Geithner, Henry Paulson and so on...And Goldman Sachs the Pillage People is well represented on this annual event.

The Bilderberg Group, Bilderberg conference, or Bilderberg Club is an annual, unofficial, invitation-only conference of around 130 guests, most of whom are persons of influence in the fields of politics, banking, business, the military and media. Each conference is closed to the public and the press.

http://en.wikipedia.org/wiki/Bilderberg_Group


http://www.nndb.com/org/514/000042388/


http://www.prisonplanet.com/leaked-agenda-bilderberg-group-plans-economic-depression.htm


XXXXX


Part 19


May 2, 2010

SouthAmerica: The question is: “Is it possible that Buffett is going senile?”

Or “Is it Buffett just trying to protect the investment that he made in “Goldman Sachs the Pillage People” when that company was on the blink of collapsing?”

Can you trust a man that was going around with Hank Paulson in October 2008, and asking Congress to give a blank check to Hank Paulson for $ 700 billion dollars to rescue Wall Street – with no transparency and strings attached?

As far as I am concerned Warren Buffett has lost all the credibility that he once had. He is just a very greedy old man who puts his self-interest above the self-interest of the future of this country.

Today we have to take with a grain of salt anything that Warren Buffett says.

His opinion and support for “Goldman Sachs the Pillage People” has more to do with his self-interest regarding his investments on that company than anything else. If he had invested some of his money with Bernie Madoff, you can bet that he probably would be doing the same thing and supporting and backing Bernie Madoff to the end.

And the Wall Street Journal instead of being reporting about Goldman Sachs the Pillage People that newspaper would be reporting the following: “Warren Buffett offered a vigorous defense of Bernie Madoff. Saturday, saying the embattled firm hadn't engaged in improper activity and shouldn't be blamed for the losses of its clients.


*****


Buffett Backs Goldman”
May 2. 2010
Wall Street Journal

OMAHA, Neb.— Warren Buffett offered a vigorous defense of Goldman Sachs Group Inc. Saturday, saying the embattled firm hadn't engaged in improper activity and shouldn't be blamed for the losses of its clients.


XXXXX


Part 20


May 2, 2010

SouthAmerica: Finally, reality is catching up with Goldman Sachs the Pillage People.

Is that TV commercial on television that always shows a group of Barbarians ransacking and looting a “Goldman Sachs the Pillage People” commercial?

If that commercial is trying to market another bank, then “Goldman Sachs the Pillage People” should buy that bank, because those commercials fit perfectly with Goldman Sachs Pillaging ways.


*****

AIG-Goldman Sachs Trades Should Be Probed by SEC, Cummings Says”
By Hugh Son
Bloomberg / Business Week
April 19, 2010

April 19 (Bloomberg) -- The regulator suing Goldman Sachs Group Inc. for fraud should widen its probe to determine whether securities backed by bailed-out insurer American International Group Inc. were improperly created, said two lawmakers.

It is “not beyond the realm of comprehension” that Goldman Sachs misled investors on collateralized debt obligations apart from the one cited last week by the Securities and Exchange Commission, Democratic Representatives Elijah Cummings and Peter DeFazio said in a letter to be sent to SEC Chairman Mary Schapiro. AIG, rescued by the U.S. in 2008, insured about $6 billion of Goldman Sachs CDOs named Abacus.

“Should any of these transactions be found to include fraudulent conduct, any resulting contractual payments from AIG- issued credit-default swaps could be viewed as ill-gotten gains,” Cummings and DeFazio wrote. “It is imperative that the SEC pursue the recovery from Goldman Sachs of any fraudulently obtained AIG payments.”

The lawmakers’ demand adds pressure on New York-based Goldman Sachs as European politicians increase scrutiny of the bank. Prime Minister Gordon Brown called yesterday for a probe by the U.K. Financial Services Authority and Germany’s financial regulator asked the SEC for details of its suit.

Goldman Sachs failed to disclose to investors of a CDO called Abacus 2007-AC1 that hedge fund Paulson & Co. helped pick the underlying assets and bet against the security, according to the SEC suit. The SEC charges are “completely unfounded in law and fact,” Goldman Sachs said on April 16.

John Nester, a spokesman for the SEC, didn’t immediately return a call seeking comment. Mark Herr, a spokesman for New York-based AIG, declined to comment.

…CDOs are investment vehicles that repackage pools of assets such as home-loan bonds into a series of new securities with varying risks.


XXXXX


Part 21


May 2, 2010

SouthAmerica: The government has committed more than $182 billion to AIG - And Goldman Sachs the Pillage People got US $14 billion dollars as their share of the loot.

No wonder Warren Buffett is defending his investment in Goldman Sachs the Pillage People.

Wells Fargo Bank (Buffett is the major investor in that bank) also benefited in a big way from this US government welfare program to bailout Wall Street and their spinning out of control complete incompetence.


*****


Secret AIG Document Shows Goldman Sachs Minted Most Toxic CDOs”
By Richard Teitelbaum
Bloomberg News – February 23, 2010

Feb. 23 (Bloomberg) -- When a congressional panel convened a hearing on the government rescue of American International Group Inc. in January, the public scolding of Treasury Secretary Timothy F. Geithner got the most attention.

Lawmakers said the former head of the New York Federal Reserve Bank had presided over a backdoor bailout of Wall Street firms and a coverup. Geithner countered that he had acted properly to avert the collapse of the financial system.

A potentially more important development slipped by with less notice, Bloomberg Markets reports in its April issue. Representative Darrell Issa, the ranking Republican on the House Committee on Oversight and Government Reform, placed into the hearing record a five-page document itemizing the mortgage securities on which banks such as Goldman Sachs Group Inc. and Societe Generale SA had bought $62.1 billion in credit-default swaps from AIG.

These were the deals that pushed the insurer to the brink of insolvency -- and were eventually paid in full at taxpayer expense. The New York Fed, which secretly engineered the bailout, prevented the full publication of the document for more than a year, even when AIG wanted it released.

That lack of disclosure shows how the government has obstructed a proper accounting of what went wrong in the financial crisis, author and former investment banker William Cohan says. “This secrecy is one more example of how the whole bailout has been done in such a slithering manner,” says Cohan, who wrote “House of Cards” (Doubleday, 2009), about the unraveling of Bear Stearns Cos. “There’s been no accountability.”

CDOs Identified

The document Issa made public cuts to the heart of the controversy over the September 2008 AIG rescue by identifying specific securities, known as collateralized-debt obligations, that had been insured with the company. The banks holding the credit-default swaps, a type of derivative, collected collateral as the insurer was downgraded and the CDOs tumbled in value.

The public can now see for the first time how poorly the securities performed, with losses exceeding 75 percent of their notional value in some cases. Compounding this, the document and Bloomberg data demonstrate that the banks that bought the swaps from AIG are mostly the same firms that underwrote the CDOs in the first place.

The banks should have to explain how they managed to buy protection from AIG primarily on securities that fell so sharply in value, says Daniel Calacci, a former swaps trader and marketer who’s now a structured-finance consultant in Warren, New Jersey. In some cases, banks also owned mortgage lenders, and they should be challenged to explain whether they gained any insider knowledge about the quality of the loans bundled into the CDOs, he says.

‘Too Uncanny’

“It’s almost too uncanny,” Calacci says. “If these banks had insight into the underlying loans because they had relationships with banks, originators or servicers, that’s at the least unethical.”

The identification of securities in the document, known as Schedule A, and data compiled by Bloomberg show that Goldman Sachs underwrote $17.2 billion of the $62.1 billion in CDOs that AIG insured -- more than any other investment bank. Merrill Lynch & Co., now part of Bank of America Corp., created $13.2 billion of the CDOs, and Deutsche Bank AG underwrote $9.5 billion.

These tallies suggest a possible reason why the New York Fed kept so much under wraps, Professor James Cox of Duke University School of Law says: “They may have been trying to shield Goldman -- for Goldman’s sake or out of macro concerns that another investment bank would be at risk.”

Poor Performers

Goldman Sachs spokesman Michael DuVally declined to comment.

Schedule A also makes possible a more complete examination of why AIG collapsed. Joseph Cassano, the former president of the AIG Financial Products unit that sold the swaps, said on a December 2007 conference call that his firm pulled back from selling swaps on U.S. subprime residential CDOs in late 2005. The list shows that the $21.2 billion in CDOs minted after 2005, mostly based on prime and commercial mortgages, performed as badly as or worse than the earlier subprime vintages.

A lawyer for Cassano declined to comment.

As details of the coverup emerge, so does anger at the perceived conflicts. Philip Angelides, chairman of the Financial Crisis Inquiry Commission, at a hearing held by his panel on Jan. 13, questioned how banks could underwrite poisonous securities and then bet against them. “It sounds to me a little bit like selling a car with faulty brakes and then buying an insurance policy on the buyer of those cars,” he said.

‘Part of the Coverup’

Janet Tavakoli, founder of Tavakoli Structured Finance Inc., a Chicago-based consulting firm, says the New York Fed’s secrecy has helped hide who’s responsible for the worst of the disaster. “The suppression of the details in the list of counterparties was part of the coverup,” she says.

E-mails between Fed and AIG officials that Issa released in January show that the efforts to keep Schedule A under wraps came from the New York Fed. Revelation of the messages contributed to the heated atmosphere at the House hearing.

“What date did you know there was a coverup?” Republican Congressman Brian Bilbray of California demanded of Geithner. Lawmakers used the word coverup more than a dozen times as they peppered Geithner with questions.

Geithner said that he wasn’t involved in matters of disclosure and that his former colleagues did the best they could. In a Jan. 19 statement, the New York Fed said, “AIG at all times remained responsible for complying with its disclosure requirements under the securities laws.”

The government has committed more than $182 billion to AIG and owns almost 80 percent of the company.

Document Withheld

In late November 2008, the insurer was planning to include Schedule A in a regulatory filing -- until a lawyer for the Fed said it wasn’t necessary, according to the e-mails. The document was an attachment to the agreement between AIG and Maiden Lane III, the fund that the Fed established in November 2008 to hold the CDOs after the swap contracts were settled.

AIG paid its counterparties -- the banks -- the full value of the contracts, after accounting for any collateral that had been posted, and took the devalued CDOs in exchange. As requested by the New York Fed, AIG kept the bank names out of the Dec. 24 filing and edited out a sentence that said they got full payment.

The New York Fed’s January 2010 statement said the sentence was deleted because AIG technically paid slightly less than 100 cents on the dollar.

Paid in Full

Before the New York Fed ordered AIG to pay the banks in full, the company was trying to negotiate to pay off the credit- default swaps at a discount or “haircut.”

By March 2009, responding to a request from Christopher Dodd, chairman of the Senate Committee on Banking, Housing and Urban Affairs, AIG released the names of the counterparty banks. In a filing later that month, AIG included Schedule A, showing bank names while withholding all identification of the underlying CDOs and the amounts of collateral each bank had collected. The document had more than 800 redactions.

In May 2009, AIG again filed Schedule A, this time with about 400 redactions. It revealed that Paris-based Societe Generale got the biggest payout from AIG, or $16.5 billion, followed by Goldman Sachs, which got $14 billion, and then Deutsche Bank and Merrill Lynch. It still kept secret the CDOs’ identification and information that would show performance.

…Bad to Worse

“The original CDO deals were bad enough,” Tavakoli says. “For some that allow reinvesting or substitution, any reasonable professional would ask why these assets were being traded into the portfolio. The Schedule A shows that we should be investigating these deals.”

Among the CDOs on Schedule A with notional values of more than $1 billion, the worst performer was a tranche identified as Davis Square Funding Ltd.’s DVSQ 2006-6A CP. It was held by Societe Generale, underwritten by Goldman Sachs and managed by TCW Group Inc., a Los Angeles-based unit of SocGen, according to Bloomberg data. It lost 77.7 percent of its value -- though it isn’t in default and continues to pay.

http://www.bloomberg.com/apps/news?pid=20601087&sid=ax3yON_uNe7I


XXXXX


Part 22


May 2, 2010

SouthAmerica: Today I got a copy of the latest issue of Rolling Stone magazine to read the article by Matt Taibbi “The Feds vs. Goldman”

Here is what he had to say about ”Goldman Sachs the Pillage People.”


*****


"The Feds vs. Goldman" - The government's case against Goldman Sachs barely begins to target the depths of Wall Street's criminal sleaze

By Matt Taibbi
May 13, 2010
The Rolling Stone

On the day the Securities and Exchange Commission filed suit against Goldman Sachs for securities fraud, shares in the company plunged 12.8 percent, closing at $160.70. The market, it seemed, was finally passing judgment on a decade of high-stakes Wall Street scammery that left America threatening Nigeria, Indonesia and Belarus on the list of the world's most corrupt economies.

A few days later, Goldman announced its first-quarter numbers. Profits were up 91 percent, to a staggering $3.4 billion.

Compensation and bonuses soared to $5.5 billion, up from $4.7 billion in the first quarter of 2009. Battered in the press, Goldman was raking up on the bottom line. So investors once again leapt into Goldman's arms, pushing the stock as high as $166.50, not far from where it was even before news of the SEC suit broke.

Goldman isn't dead – far from it. But this new SEC suit officially places it at the center of a raging national discussion about the hopelessly fucked state of American business ethics. As a halting, first-step attempt at financial regulatory reform makes its way toward a vote in the Senate, the government has finally thrown open the door and let a few of the rottener skeletons tumble out.

On the surface, the failure-to-disclose rap being leveled at Goldman feels like a niggling technicality, the Wall Street equivalent of a tax-evasion charge against Al Capone. The bank will try and – who knows – might even succeed in defending itself in a court of law against these charges. But in the court of public opinion it was doomed the instant the SEC decided to put this ghastly black comedy of a fraud case on the street for everyone to see. Just as Pittsburgh Steeler Ben Roethlisberger will never recover from the image of him (allegedly) waving his dick at a scared 20-year-old coed in the darkened hallway of a Georgia nightclub, Goldman may never bounce back from the SEC's brutal blow-by-blow account of how the bank conspired with a hedge-fund magnate to bend one gullible business partner after another over the edge of the subprime housing market.

Here's the CliffsNotes version of the scandal: Back in 2007, Harvard-educated hedge-fund whiz John Paulson (no relation to then-Treasury secretary and former Goldman chief Hank Paulson) smartly decided the housing boom was a mirage. So he asked Goldman to put together a multibillion-dollar basket of crappy subprime investments that he could bet against. The bank gladly complied, taking a $15 million fee to do the deal and letting Paulson choose some of the toxic mortgages in the portfolio, which would come to be called Abacus.

What Paulson jammed into Abacus was mortgages lent to borrowers with low credit ratings, and mortgages from states like Florida, Arizona, Nevada and California that had recently seen wild home-price spikes. In metaphorical terms, Paulson was choosing, as sexual partners for future visitors to the Goldman bordello, a gang of IV drug users, Haitians and hemophiliacs, then buying life-insurance policies on the whole orgy. Goldman then turned around and sold this poisonous stuff to its customers as good, healthy investments.

Where Goldman broke the rules, according to the SEC, was in failing to disclose to its customers – in particular a German bank called IKB and a Dutch bank called ABN-AMRO – the full nature of Paulson's involvement with the deal. Neither investor knew that the portfolio they were buying into had essentially been put together by a financial arsonist who was rooting for it all to blow up.

Goldman even kept its own collateral manager – a well-known and respectable company called ACA – in the dark. The bank hired the firm to approve the bad mortgages being selected by Paulson, but never bothered to tell ACA that Paulson was actually betting against the deal. ACA thought Paulson was long, when actually he was short. That led to the awful comedy of ACA staffers holding meeting after meeting with Goldman and Paulson, and continually coming away confused as to why their supposedly canny financial partners kept kicking any decent mortgage out of the deal. In one ACA internal e-mail, the company wonders aloud why Paulson excluded mortgages issued by Wells Fargo – a bank that traditionally created high-quality mortgages. "Did [they] give a reason why they kicked out all the Wells deals?" the quizzical e-mail reads.

The climactic scene of this absurd vaudeville came on February 2nd, 2007, when Goldman vice president Fabrice Tourre – a French-born slimeball who would be the only Goldman individual named in the suit – showed up with Paulson & Co. at ACA's New York offices. At this meeting, both Paulson's people and Tourre presumably pretended, for the benefit of their sucker partner ACA, that they were putting together a deal they actually believed in. One has to imagine Tourre and the Paulson contingent overacting with Shatnerian intensity to convince the numbskull ACA guys that they really, really thought subprime mortgages lent out to exurban Floridians with shit credit scores were awesome investments. During the meeting, Tourre sent a damning e-mail to another Goldman staffer: "I am at this aca paulson meeting, this is surreal."

Tourre would brag in other e-mails that while the housing market was about to blow up, his fabulous French self would be left standing in a pile of money when it was all over. "More and more leverage in the system," he wrote. "The whole building is about to collapse anytime now. . . . Only potential survivor, the fabulous Fab . . . standing in the middle of all these complex, highly leveraged, exotic trades he created!"

These flighty Tourre e-mails boasting of cashing in on a disaster and chuckling over the "surreal" experience of power-lying right in the face of a business partner are Goldman's very own Ben Roethlisberger drunken dick-waving moment. It is hard to imagine any company from now on doing business with Goldman and not picturing its fruitcake executives text-boasting to each other about the pleasures of screwing over their own clients.

Goldman has issued three denials with regard to the SEC charges. The first was a very curt "this is all bullshit" press release, issued on the day the complaint came out, in which it called the charges "completely unfounded in law."

Then, after their PR people had a few minutes to think about things, Goldman issued a second release claiming that it lost $90 million on the deal, and therefore couldn't have been doing anything wrong. While this may be true – and we only have their word for it that it is – who the hell cares? What Goldman is being accused of is lying to its clients. How much money they did or didn't make is totally irrelevant. In fact, if Goldman really did lose money knowing what they knew about this deal, all that proves is that they're morons as well as sleazebags.

The third press release paved the way for the inevitable deployment of the Dr. Richard Kimble/one-armed-man defense – i.e., that Fabrice Tourre did it all, acting alone. "Goldman Sachs would never condone one of its employees misleading anyone," the release insisted. "Were there ever to emerge credible evidence that such behavior indeed occurred here, we would be the first to condemn it and to take all appropriate actions."

So within the space of a few days, Goldman issued three different explanations, which progressed from (a) we absolutely, positively didn't do it, to (b) if we did do it, we didn't make any money doing it, and finally on to (c) if somebody did it, it was only that French cat Tourre, and here's his head if you want it. These guys couldn't find the truth if it was sitting in their lap playing the ukulele, and that's the basic problem that the entire financial-services sector – an industry that requires trust and confidence to thrive – is struggling to overcome.

Just under a year ago, when we published "The Great American Bubble Machine", accusing Goldman of betting against its clients at the end of the housing boom, virtually the entire smugtocracy of sneering Wall Street cognoscenti scoffed at the notion that the Street's leading investment bank could be guilty of such a thing. Attracting particular derision were the comments of one of my sources, a prominent hedge-fund chief, who said that when Goldman shorted the subprime-mortgage market at the same time it was selling subprime-backed products to its customers, the bait-and-switch maneuver constituted "the heart of securities fraud."

CNBC's house blowhard, Charlie Gasparino, laughed at the "securities fraud" line, saying, "Try proving that one." The Atlantic's online Randian cyber-shill, Megan McArdle, said Rolling Stone had "absurdly" accused Goldman of committing a crime, arguing that "Goldman's customers for CDOs are not little grannies who think a bond coupon is what you use to buy denture glue." Former Wall Street Journal reporter Heidi Moore hilariously pointed out that Goldman wasn't the only one betting against the housing market, citing the short-selling success of – you guessed it – John Paulson as evidence that Goldman shouldn't be singled out.

he truth is that what Goldman is alleged to have done in this SEC case is even worse than what all these assholes laughed at us for talking about last year.

Prior to the "Bubble Machine" piece, I had heard rumors that Goldman had gone out and intentionally scared up toxic mortgages and swaps in order to get short of them with sucker bookies like AIG. But – and this seems funny in retrospect – I foolishly dismissed those tales as being too conspiratorial. I thought it was bad enough that Goldman was shorting the subprime market even as it was selling toxic subprime-backed securities to chumps on the open market. The notion that the bank would actually go out and create big balls of crap that would be designed to fail seemed too nuts even for my tastes.

In the year since – and this, to me, is the main lesson from the SEC case against Goldman – the public has quickly come to accept that when it comes to the once-great institutions of modern Wall Street, literally no deal that makes money is too low to be contemplated.

The nearly identical case involving a Merrill Lynch mortgage deal called Norma now making its way through the courts is just one example. There is more fraud out there, and everyone knows it: front-running, manipulation of the commodities markets, trading ahead of interest-rate moves, hidden losses, Enron-esque accounting, Ponzi schemes in the precious-metals markets, you name it. We gave these people nearly a trillion bailout dollars, and no one knows what service they actually provide beyond fraud, gross self-indulgence and the occasional transparently insincere public apology.

The Goldman case emerges as a symbol of all this brokenness, of a climate in which all financial actors are now supposed to expect to be burned and cheated, even by their own bankers, as a matter of course. (As part of its defense, Goldman pointed out that IKB is a "sophisticated CDO market participant" – translation: too fucking bad for them if they trusted us.) It would be nice to think that the SEC suit is aimed at this twisted worldview as much as at the actual offense. Some observers believe the case against Goldman was timed to pressure Wall Street into acquiescing to Sen. Chris Dodd's loophole-ridden financial-reform bill, which probably won't do much to prevent cases like the Abacus fiasco. Or maybe it's just pure politics – Democrats dropping the proverbial horse's head in Goldman's bed to get their fig-leaf financial-reform effort passed in time for the midterm elections.

Whatever the long-range motives, the immediate effect of the lawsuit is to put Wall Street's crazy fraud ethos on trial in the court of public opinion. For now, at the end of the first quarter, Goldman and most of the other big banks are still winning that case. But the second quarter might be a different story.

http://www.rollingstone.com/politics/news/;kw=[3351,136554]


XXXXX


Part 23


May 2, 2010

Nutmeg: “Should any of these transactions be found to include fraudulent conduct, any resulting contractual payments from AIG- issued credit-default swaps could be viewed as ill-gotten gains,” Cummings and DeFazio wrote. “It is imperative that the SEC pursue the recovery from Goldman Sachs of any fraudulently obtained AIG payments.”

----------------

And others too. You think?


*********


May 2, 2010

SouthAmerica: I agree 100 percent: “It is imperative that the SEC pursue the recovery from Goldman Sachs of any fraudulently obtained AIG payments.”

Not only from Goldman Sachs the Pillage People, but also from any other company that got money fraudulently from AIG.

I also like to know why all these corporations did not get pay with a deep discount = 50 cents on the dollar or less?

The government should open an inquiry to see which people were involved on the decision of letting Lehman Brothers collapse instead of giving that company the same treatment that they gave to AIG, Morgan Stanley, GM, Chrysler, and Goldman Sachs the Pillage People.

They let Lehman Brothers collapse on Wednesday, and by Saturday they were giving all kinds of help to the other people.

Who were the people involved on that decision? – Hank Paulson (former Pillage People), Geithner (had connections to the Pillage People), and so on…


XXXXX


Part 24


May 3, 2010

Tradewithjoy: Gameover shortly. New financial model may develope.


*****


May 3, 2010

SouthAmerica: But not before they put “Goldman Sachs the Pillage People” out of their misery - The government has to put out business the Bernie Madoff’s of Wall Street for the United States to get back some the credibility that has been lost in the financial markets around the world.

And I hope they start investigating all the shenanigans done by Hank Paulson during the financial crisis.

Regarding “Goldman Sachs the Pillage People” – that ship is going down just like the Titanic…And I hope Hank Paulson also goes down with that ship.


XXXXX


Part 25


August 30, 2010

SouthAmerica: Today the Financial Times (UK) has a front page article about “Goldman Sachs the Pillage People” and how their biggest investor Axa has slashed its stake in “Goldman Sachs the Pillage People” by half.

The article also said that: “Two other top 10 investors, BlackRock and T. Rowe Price, also pared their holdings during the period, shedding 1.6 million shares, and 4.2 million shares, respectively.

“Goldman Sachs the Pillage People” is the Titanic and if you are smart then it is time to get off this sinking ship.


XXXXX


Part 26


November 8, 2010

SouthAmerica: I was reading to day the latest issue of Fortune magazine when I came across an article about “Goldman Sachs the Pillage People”. They also had a picture of Elmer J. Fudd but not of Bugs Bunny.



*****


You can read the biography of Elmer J. Fudd at:



XXXXX


Part 27



November 14, 2010


EMRGLOBAL: ...Two of my clients are the most powerful "Capitalist" in Brazil. They said that the currency will stand as is. Devlaue of the Reais will not happen. Imports to brazil are strong, exports have slowed but not to much.


*****


November 14, 2010

SouthAmerica: Reply to EMRGLOBAL

I have a question for you: Do you work for "Goldman Sachs the Pillage People"?

I am writing an article right now, to show in detail why Brazil has to act immediately regarding the devaluation of the real and become a fixed rate currency pegged to the US dollar and the yuan.

After the G-20 fiasco in South Korea it becomes imperative that Brazil implement ASAP a 30 percent devaluation of the real before the Brazilian government adopts the new fixed exchange rate system of pegged currencies against the US dollar and the yuan as I suggested on other postings.

There's no time to waste - and Brazil has to catch the market by surprise – the global “currency wars” are right on schedule.

If you have been reading my postings then you know that this suggestion is not my first choice. I have been writing for years that Brazil should adopt the "New Asian Currency" - but China is wasting time instead of creating such a currency which would benefit everybody including China, Japan, and Brazil.

I never suggested anywhere in my articles or postings that Brazil should adopt the yuan the currency Chinese currency - and I hope you understand the difference of these two choices.

My suggestion for the 30 percent devaluation of the real and Brazil adopt the new fixed exchange rate system of pegged currencies against the US dollar and the yuan - this is just a temporary solution for Brazil until China wakes up and create the "New Asian Currency" similar to the euro.

I know what is going to happen to the Brazilian economy if they don't follow up on my suggestion. It will not be a pretty sight believe me.

I don't care about what your capitalists friends are saying to you - Brazil does not have a choice, or Brazil follow my above suggestion, or Brazil will pay the price in a big way when the "Hot Money" start a stampede out of Brazil. (You can tell that to your capitalist friends next time you talk to those fellows.)

The world has changed and we need to change ASAP the laws in Brazil regarding land ownership by foreigners - not only limiting the amount of land that foreigners can control direct or indirect, but also give them a period of 5 years for them to sell the over limit size of land that they already own.

We have a new ball game here in the 21st century - you can bet on that.

Your capitalist friends wouldn't be around today if wasn't for massive government intervention to keep the global economy from a complete meltdown during 2008.

And in January 2005 I wrote an article saying in detail how the US economy was going to explode in the fall of 2008 - I even identified the derivatives market as the source of the explosion plus the real estate market.

You should go back to that article and see the postings of people making fun of what I said on that article - by the summer of 2008 these people thought I was better than Nostradamus.

If Brazil does not follow my suggestion then you are going to see a massive meltdown in the Brazilian economy when the herd gets spooked and the stampede start out of Brazil.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=195957&perpage=6&pagenumber=24

XXXXX


Part 28

January 6, 2011

SouthAmerica: Reply to Akumatotenshi

I mean a Facebook could be a fad – not in the sense that social networking would go away – but in the sense that Facebook is the flavor of the moment.

You could have said the same thing about Orkut, or MySpace when these social networks were the flavor of the month.

What would stop someone from starting tomorrow a much “cooler” social network with better privacy and security provisions as a non-profit organization, using the same model as wikipedia?

Today, Facebook is the more successful social network, but there's no guarantee that will be true in the coming years – in the last few years there were other social networks that had its time on the spotlight then they faded away for one reason or another people moved on to new cooler social network.

***

Early social networking on the World Wide Web began in the form of generalized online communities such as Theglobe.com (1994), Geocities (1995) and Tripod.com (1995). Many of these early communities focused on bringing people together to interact with each other through chat rooms, and encouraged users to share personal information and ideas via personal webpages by providing easy-to-use publishing tools and free or inexpensive webspace. Some communities - such as Classmates.com - took a different approach by simply having people link to each other via email addresses. In the late 1990s, user profiles became a central feature of social networking sites, allowing users to compile lists of "friends" and search for other users with similar interests.

New social networking methods were developed by the end of the 1990s, and many sites began to develop more advanced features for users to find and manage friends. This newer generation of social networking sites began to flourish with the emergence of Friendster in 2002, and soon became part of the Internet mainstream. Friendster was followed by MySpace and LinkedIn a year later, and finally, Bebo. Attesting to the rapid increase in social networking sites' popularity, by 2005, MySpace was reportedly getting more page views than Google. Facebook, launched in 2004, has since become the largest social networking site in the world.

Today, it is estimated that there are now over 200 active sites using a wide variety of social networking models including: Facebook, MySpace, Orkut, Linkdln, Friendster, Cyworld, Tagged, Ning and so on...


XXXXX


Part 29

January 6, 2011

SouthAmerica: If Facebook is the real deal then they should make public all their information and have a real IPO.

If after all the information is out there and the market want to give a market cap of US$ 50 billion dollars to this stock - then good luck to the people who put their money on the line to get a piece of this action.

But what "Goldman Sachs the Pillage People" is trying to do with Facebook it is pure Bullshit, and smells more like a scam than anything else.


XXXXX


Part 30

January 6, 2011

SouthAmerica: Reply to Jem

Facebook claims that they have over 500 individual accounts around the world.

I have a few accounts myself on Facebook that I use for different purposes.

I turn down the request of a lot of people who want to connect with my Facebook account and network of friends.

Anyway, I have my Yahoo email for a long time (Yahoo is the best email system on the web), and Yahoo probably must have 100's of millions of email accounts, and you can send pictures and all kinds of information to other people. Plus Yahoo has a ton of other information that I use all the time about sports, stock market and so on....

Then why people think that Facebook is worth a market cap of US$ 50 billion dollars, more than twice the market cap of yahoo at US$ 22 billion dollars?

The Facebook US$ 50 billion dollar market cap it does not make any sense to me

Unless “Goldman Sachs the Pillage People” is trying to tap into the pool of fools of the dot era to take these fools for a ride.


XXXXX


Part 31

January 6, 2011

Pekelo: Cost. Even as running servers is getting cheaper, when you have a really popular website, it cost a pretty penny to run it. If investors don't see how you could make money out of the idea, donation money goes so far.

Not to mention that FB really has to screw up so people would migrate en masse to another site. If you already uploaded 100s of family pictures and every relatives knows about your FB page, you will think twice about moving...

*****


January 6, 2011

SouthAmerica: Wikipedia is one of the most popular websites on the web and they operate as a non-profit organization – they just finish a fund raising cycle and reached their goal of US$ 16 million dollars the total cost to operate their website for 2011.

I want to remind you that MySpace did not screw up, but people migrated to Facebook anyway. All you need is for someone to come up with a new and cooler website that gives people more control to organize the stuff that they post on these websites, and in no time people would move to the new website.

That website it's just a software, and there's no reason for people to think that someone can't come up with a new idea that catches fire in the near future.

It's possible that someone might be working right now in such a new software and website.


XXXXX


Part 32


January 18, 2011

SouthAmerica:

"Goldman Fails to See Hype That Derailed Facebook’s Private Sale”

By Christine Harper - Bloomberg News – January 17, 2011

It seems to me that “Goldman Sachs the Pillage People” latest scam it will be available only to non-U.S. Investors, since the world still is full of suckers.


XXXXX


Part 33


May 12, 2011

Dumb mother: “I admire goldman and aspire to attain the consistent level of success that they have attained.”


*****


May 12, 2011

SouthAmerica: Here is the organization that you admire and aspire to attain the level of success they achieved screwing other people.

Goldman Sachs the Pillage People” and its network of thieves is the most powerful Mafia family in the United States in every way, and more profitable than any of their peers:

1) Goldman Sachs
2) Lucchese
3) Bonanno
4) Gambino
5) Colombo
6) Genovese


Note: By the way, among the top scoundrels of “Goldman Sachs the Pillage People” include people such as former US Treasury Secretary Henry Paulson, former US Treasury Secretary Robert Rubin, and many others distinguish scoundrels.

XXXXX


Part 34

May 12, 2011

SouthAmerica: It's time to send to prison a bunch of crooks from "Goldman Sachs the Pillage People" and its network of thieves.

The People vs. Goldman Sachs – By Matt Taibbi
Rolling Stone magazine – May 11, 2011

They weren't murderers or anything; they had merely stolen more money than most people can rationally conceive of, from their own customers, in a few blinks of an eye. But then they went one step further. They came to Washington, took an oath before Congress, and lied about it.


*****


Goldman Drops as Bove Says Sell”
By Christine Harper
Bloomberg News - May 12, 2011


‘Vampire Squid’

Bove cited a new article by writer Matt Taibbi in Rolling Stone magazine that says the Justice Department should criminally charge Goldman Sachs based on the subcommittee’s report. In a 2009 story for Rolling Stone, Taibbi wrote an article about Goldman Sachs that labeled the firm “a great vampire squid wrapped around the face of humanity.”
“The new Matt Taibbi article in Rolling Stone magazine is another all-out attack on the company,” Bove wrote in today’s note. “However, this time the attack is backed by a 650-page report signed by both a Democrat and a Republican.”


XXXXX


Part 35


May 24, 2011

SouthAmerica: If the "Bric" countries are stupid enough to continue to do business with "Goldman Sachs the Pillage People" and their network of scoundrels and thieves - then they should not cry when "Goldman Sachs the Pillage People" screw all these countries in a big way, and take them all for a ride.

This example it does show us that the world still is full of suckers and fools - or people who are too stupid to grasp the obvious.

Great Wall St.: Goldman Sachs & Co betting on yuan? - May 12, 2011


XXXXX


Part 36


June 3, 2011

SouthAmerica: It is amazing to me how Americans can't figure out: “why their country is in the process of dying a slow death?”

With all the very damaging information and evidence of criminal business that has been made public in the last 3 years about “Goldman Sachs the Pillage People” and its network of scoundrels – and after all this time not a single “Goldman Sachs the Pillage People” executive is in jail.

This shows that the United States has a very corrupt system and here it is just the last example of an American politician who was bought by “Goldman Sachs the Pillage People.”

Of Course! Senator Bought By Goldman Sachs – May 31, 2011


How former Republican Senator Judd Gregg (an outspoken critic of oversight of the financial industry) now works for Goldman Sachs.

***

June 1, 2011

Former Republican Senator Judd Gregg joins “Goldman Sachs the Pillage People”:
Former Senator Judd Greg (R-N.H.) is joining Wall Street giant “Goldman Sachs the Pillage People.” The New Hampshire Republican, who retired in November after 18 years in the Senate, joins the prestigious and very corrupt organization, but also a very politically powerful firm as one of the firm's 17 international consiglieres.


*****


Here is what I wrote in an article published by Brazzil magazine over one year ago:


Brazzil Magazine – April 23, 2010
Brazil and the New Economic Miracle. The US Has a Lot to Learn!
Written by Ricardo C. Amaral
http://www.brazzil.com/component/content/article/218-april-2010/10386-brazil-and-the-new-economic-miracle-the-us-has-a-lot-to-learn.html#comments

...The U.S. economy is in deep trouble and dying a slow death with no hope for meaningful change in sight. The current US economic and government system is heavily influenced by powerful lobbying groups that want to keep the status quo going and their self-serving agendas in place, and making it almost impossible for the system to change and adapt to the new economic circumstances.

And some corporations such as Goldman Sachs have infiltrated the US government at the highest levels with their network of former Goldman Sachs executives in an effort to influence US government policies on behalf of the financial and banking industry and their financial games.

I just read the book "It Takes a Pillage - Behind the Bailouts, Bonuses, and Backroom Deals from Washington to Wall Street" by Nomi Prins, a book published in October 2009. The book explains in detail the demise and complete destruction of the US economy by the power brokers of Wall Street.

I just read the book "It Takes a Pillage - Behind the Bailouts, Bonuses, and Backroom Deals from Washington to Wall Street" by Nomi Prins, a book published in October 2009. The book explains in detail the demise and complete destruction of the US economy by the power brokers of Wall Street.

After reading this book you finally will understand why the new generations of Americans don't have any future and how Wall Street stole their future and wasted the money to the tune of trillions of US dollars. The author gives an outstanding explanation and detailed information about what happened in the US financial markets that ended up in a global financial meltdown.

After reading this book you will have a much better understanding about what is going on with the US economy today, how we got to this point and the massive trouble that lies ahead of us.

Basically there is only one conclusion for this massive financial mess made in the USA, and the year 2008 marks the end of an era, and the capitalist brand of America.

Nomi Prins is a former managing director at Goldman Sachs, and her book exposes the corruption in Washington and Wall Street. Her articles are published in Fortune magazine, the Nation, Mother Jones, and other publications. And her latest book has become an important source of information about the corruption in Washington and its connection to Wall Street.

The book shows how the revolving door between Wall Street and Washington enabled and encouraged the disastrous behavior of large investment banks. You'll meet the Pillage People: the men who funneled trillions of dollars directly to the banks and the executives whose companies drained the American economy.

And if you don't believe me that the US economic system is in deep trouble and beyond repair, then you don't need to look any further than what has transpired in the United States since the financial meltdown of 2008. The US financial system ended up in intensive care, and almost died a quick death. And what has happened in the United States since then regarding any efforts by Congress to try to fix the problems that caused the collapse of the US and global financial system in 2008?

As usual, Americans learned nothing from these past fiascos, and if anything the problems are becoming even bigger today with much bigger surviving financial institutions that are fighting very hard against any government regulation of their business, and they use their powerful lobbying connections to fight very hard to keep things as they were before the last financial meltdown.

How dumb can you be? And next time, when the coming collapse and financial meltdown become a reality once again, then the safety net of the US government won't be there. This time around Wall Street has exhausted the financial resources of the United States.

Remember, since the Wall Street bailouts of 2008, the scoundrels of Wall Street have consistently been milking all the US government resources to the bone, and they also have been putting in place a structure for another major US government bailout of Wall Street in the future - for US taxpayers to pay for the bets that went sour for Wall Street.

When it comes to forms of corruption, in Brazil they still have a crude and old system and they use terms that include: bribery, extortion, cronyism, nepotism, patronage, graft, and embezzlement. In contrast, the United States has a much more polished and sophisticated corruption system called lobbying. And the American lobbying system works in a very efficient way by buying favors directly from the politicians through campaign contributions.

US Economic and Financial System Is Incapable of Meaningful Change


XXXXX


Part 37


June 3, 2011

SouthAmerica: Reply to Nutmeg

Anybody here in the US or in any country around the world who is dumb enough to continue doing business with “Goldman Sachs the Pillage People” deserve to lose their shirt, because they are stupid and just a sucker. Here is another example of “Goldman Sachs the Pillage People” setting up a fool for a gigantic collapse.

The Financial Times (UK) had a front page article about Libya today, and the article said: “Goldman Sachs also engaged in large transactions with the Libyan Investment Authority (LIA). The US bank structured a US$ 1.2 billion equity and currency derivatives portfolio that lost 98.5 percent of its value as of the end of June 2010.”


XXXXX


Part 38


June 3, 2011

SouthAmerica: Reply to Nutmeg

Relax and enjoy this video:

Gaddafi's Stolen Billions: Max Keiser Explains 'Financial Terrorism' – June 3, 2011



XXXXX


Part 39


June 4, 2011

SouthAmerica: The moral of the story is:

If your country (any country) has any dealings with "Goldman Sachs the Pillage People" then you are a "big fool" and when your country and the investors of your country are taken for a ride and they lose their shirt - you will be a laughing stock of the international community for being so stupid in doing any kind of business with "Goldman Sachs the Pillage People".

In a nutshell: You have to be a "Jackass" to continue doing business with "Goldman Sachs the Pillage People."

And after they take the investors of your country to the cleaners, (Like they did with the Libyan people among others) they are going to laugh at you in public, because you are so stupid and naive - and that applies to any country including Brazil.

Cash In On Chaos: Goldman Sachs ripped off Gaddafi? - June 4, 2011

On the Edge: EU says yes to gold bullion collateral – June 4, 2011 (Part 1 of 2)


On the Edge: EU says yes to gold bullion collateral – June 4, 2011 (Part 2 of 2)



XXXXX


Part 40


June 4, 2011

SouthAmerica:

Ex-Goldman Sachs banker named head of $10 Kremlin fund - May 18, 2011



***

Putin Appoints Icon’s Dmitriev to Manage Russia Investments – May 18, 2011


...Prime Minister Vladimir Putin, who is seeking investors to join the fund, today introduced Dmitriev to representatives from “Goldman Sachs the Pillage People”, Blackstone Group LP....

*****

It's time to take the Russians for a ride......say goodbye to your money.


XXXXX


Part 41


June 15, 2011

SouthAmerica: Reply to Olias

I did mention on my posting here on ET that we still have enough suckers around to get the Facebook IPO and the market cap for that stock up to $ 100 billion dollars.

You can read about it here:

Wall Street is a "FOOLS Paradise"


XXXXX


Part 42


June 27, 2011

SouthAmerica: Here is a very bad news for Brazil.

Brazil is in big trouble “Goldman Sachs the Pillage People” is increasing its staff in Brazil – after pillaging everything in sight in Europe and in Libya – it's time to set up Brazil for the big fall.

It is just a matter of time for “Goldman Sachs the Pillage People” to pillage everything in sight in Brazil.


*****


Bloomberg News – June 27, 2011

Goldman Sachs Boosts Brazil Hiring as Lender Targets Private-Equity Deals

By Adriana Brasileiro and Cristiane Lucchesi

Goldman Sachs Group is increasing its Brazil workforce by about 20 percent this year to expand in an economy that’s growing more than twice as fast as the company’s home market.

The Brazilian unit, which raised headcount to about 300 from 200 last year, plans to invest during 2011 in research, asset management, private banking, sales, investment banking and trading, the group’s president, Valentino D. Carlotti, said in a video-conference interview last week from Goldman Sachs’s headquarters in New York.


XXXXX


Part 43


November 8, 2011

SouthAmerica:

Cornel West Chris Hedges at Goldman Sachs Mock Trial Occupy Wall St Nov 3 2011 people's hearing


Recorded November 3, 2011, 10.15am. The People vs. Goldman Sachs mock trial people's hearing held at Liberty a/k/a Zuccotti Park with fiery commentary by Dr. Cornel West, eloquence by Chris Hedges, and testimonies from people directly affected by Goldman Sach policies.


Goldman Sachs Protest Results in 17 Arrests



ITALY. Riots in Milan. Students Protest Turns Violent. Assaulted Goldman Sachs Office



XXXXX


Part 44


November 18, 2011

SouthAmerica: Yesterday I was talking to a friend of mine and his son, and he told me that he had bought a while back a bunch of “Goldman Sachs the Pillage People” stock for his grandson.

I asked them if they still holding that stock and they told me: Yes.

Then I told them: What are you guys waiting for to get out of this toxic stock?

I told them do you remember the Lehman Brothers stock, and how that stock sunk like the Titanic almost overnight?


“Goldman Sachs the Pillage People” is the new Lehman Brothers stock, and the “Goldman Sachs the Pillage People” has already started the meltdown process, and that stock is going to implode into a black hole.

I told them to sell the “Goldman Sachs the Pillage People” stock ASAP – because when the run in the bank starts then you can kiss your money goodbye.


Goldman Sachs the Pillage People”


The arrogant people from “Goldman Sachs the Pillage People” don't know that their world is about to start imploding.


**********

Keiser Report: In Debt We Trust – November 17, 2011


Goldman Sachs Too Big For JAIL - November 17, 2011



Wall Street Ponzi The Naked Truth – November 17, 2011


Jon Corzine Walks Scot-Free After Bankrupting MF Global & Stealing Millions – November 17, 2011


Day of OWS Action: Over 400 arrested, dozens injured – November 17, 2011



XXXXX


Part 45


November 21, 2011

Nutmeg: " 300,000 People Applied To Goldman Sachs In The Past Two Years"

That's a whole lotta people than think GS is the schnizzle.


*****


November 21, 2011

SouthAmerica: Big deal. There are more than 1,200,000 people who apply for a job at Walmart per year, and that does mean that I want to work at Walmart.


600,000: The number of new employees Wal-Mart hires each year.
http://www.pbs.org/wgbh/pages/frontline/shows/walmart/secrets/stats.html

Nutmeg, I am sure that the peers of “Goldman Sachs the Pillage People” don't disclose the number of people who want a job with their mafia families. I can't remember ever seen any statistics about how many people applied for a job with the Luccheses, the Bonannos, the Gambinos, the Colombos, and the Genoveses. The “Goldman Sachs the Pillage People” crime family is the only one that discloses that type of data.

There are a lot of people willing to get into “Organized crime” and Bloomberg just published an article about the people promoted to “caporegime” at “Goldman Sachs the Pillage People” the number one mafia family in the United States.

The interesting thing about this article is that “Goldman Sachs the Pillage People” is making it public and they are exposing to the public the name of its members that got promoted to “caporegimes”, in contrast with their peers such as the Luccheses, the Bonannos, the Gambinos, the Colombos, and the Genoveses, since all these mafia families try to avoid any kind of publicity like the plague.


***


On November 18, 2011, Bloomberg News published an article about Goldman Sachs the Pillage People” Names 261 Managing Directors - By Joshua Fineman and Christine Harper – and the article said:

Goldman Sachs the Pillage People” the fifth-biggest U.S. bank by assets, named the smallest group of new managing directors since 2008 as the firm cuts jobs and grapples with declining revenue.

The firm appointed 261 people to managing director, the company’s second-highest rank, according to an internal memo obtained by Bloomberg News. The number is down 19 percent from last year’s record list of 321 new managing directors and exceeds the 259 promotions in 2008. David Wells, a spokesman for the New York-based company, didn’t reply to an e-mail and two phone messages seeking confirmation of the memo.


Goldman Sachs the Pillage People” Chairman and Chief Executive Officer Lloyd C. Blankfein, 57, said this week that the firm is working to remain positioned for a rebound even as it eliminates about 1,000 jobs to contend with a drop in trading revenue. The company set aside $10 billion for employees’ salaries, bonuses and benefits in the first nine months of this year, equivalent to $292,836 per worker.

...The following is the list of Goldman Sachs’s the Pillage People “Managing Director Class of 2011.” The employees listed have been invited to become managing directors as of Jan. 1, 2012.

Hiroko Adachi
Sajid Ahmed
Flavio Aidar
Lee M. Alexander
Osman Ali
Axel P. Andre
Ilana D. Ash
Dominic Ashcroft
Farshid M. Asl
Linda W. Avery
Vladislav E. Avsievich
Lucy Baldwin
Jonathan K. Barry
Yasmine Bassili
Eric D. Batchelder
Jonathan Bayliss
Andrew D. Beckman
Omar L. Beer
Mark W. Bigley
Timothy C. Bishop
James Blackham
Jacki Bond
Alain Bordoni
Jonathan E. Breckenridge
John Brennan
Brian R. Broadbent
Jerome Brochard
Jason R. Broder
Robin Brooks
Amy C. Brown
Stefan Burgstaller
Christopher Henry Bush
Michael J. Butkiewicz
Eoghainn L. Calder
Scott S. Calidas
Katrien Carbonez
Sean V. Carroll
John B. Carron
David E. Casner
Kenneth G. Castelino
Sylvio Castro
Vincent Catherine
Winston Chan
Gary A. Chandler
Christopher H. Chattaway
Jonathan L. Cheatle
Simon Cheung
Edwin K. Chin
Pierre Chu
Jean-Paul Churchouse
Gregory Chwatko
Massimiliano Ciardi
Simon M. Collier
Kenneth Connolly
Frederic J.F. Crosnier
Alistair K. Cross
Robert G. Crystal
David J. Curtis
Keith L. Cynar
Simon Dangoor
Jennifer L. Davis
Thomas Degn-Petersen
Mark Deniston
James Dickson
Kevin M. Dommenge
Benjamin J. Dyer
Christopher M. Dyer
Mariano Echeguren
Charles P. Edwards
Katherine A. El-Hillow
Jenniffer Emanuel
Hafize Gaye Erkan
Sean Fan
Richard M. Fearn
Michael A. Fisher
Nick Forster
Jennifer A. Fortner
Nanssia Fragoudaki
Grady C. Frank
Michael C. Freedman
Benjamin M. Freeman
Thomas Gasson
Antonio Gatti
Norbert Gehrke
Frank S. Ghali
Jason A. Ginsburg
Paul A. Giordano
Joshua Glassman
Gary M. Godshaw
Albert Goh
Ernest Gong
Jonathan J. Goodfellow
Michael Goosay
Rosalee M. Gordon
Scott M. Gorran
Poppy Gozal
Genevieve Gregor
Krag (Buzz) Gregory
Nick E. Guano
Nicholas Halaby
Sanjay A. Harji
Corey R. Harris
Thomas J. Harrop
Brian M. Haufrect
Adam T. Hayes
Robert Hinch
Ida Hoghooghi
Andrew Howard
Michael P. Huber
Jonathan S. Hunt
Ahmed Husain
Aytac Ilhan
Omar Iqbal
Gurjit S. Jagpal
Simona Jankowski
Arbind K. Jha
Xiangrong Jin
Danielle G. Johnson
Michael G. Johnson
Paul A. Johnson
Jean Joseph
Edina Jung
Philipp O. Kahre
Abhishek Kapur
Sho Kawano
Jeremiah E. Keefe
Ryan J. Kelly
Brian J. Kennedy
Nimesh Khiroya
Rohan Khurana
David Kim (EQ)
Jeff Kim (FICC)
Phillip Kimber
Kathryn A. Koch
Stephen J. Koch
Konstantin Koudriaev
Tannon L. Krumpelman
Fiona Laffan
James Lamanna
Kerry C. Landreth
Peter B. Lardner
Matthew Larson
Alison W. Lau*
Arden Lee
Hanben Kim Lee
Hung Ke Lee
Sang-Jun Lee
Howard Russell Leiner
Rainer Lenhard
Stephen L. Lessar
Daphne Leung
Chad J. Levant
Weigang Li
Amy Lin
Gloria W. Lio
Chang Lee Liow
Matthew Liste
Edmund Lo
Justin Lomheim
David A. Mackenzie
Regis Maignan
Sameer R. Maru
Miyuki I. Matsumoto
Antonino Mattarella
Janice M. McFadden
Jack McFerran
John L. McGuire
Aziz McMahon
Jans Meckel
Ali Meli
Rodrigo Mello
Vrinda Menon
Raluca Mihaila
Milko Milkov
Shinsuke Miyaji
Gabriel Mollerberg
Matthew L. Moore
Robert Mullane
Eric S. Neveux
Dale Nolan
Asim H. Nurmohamed
Deirdre M. O’Connor
Satoshi Ohishi
Simon G. Osborn
Hilary Packer
Daniel M. J. Parker
Srivathsan Parthasarathy
Giles R. Pascoe
Rahul Patkar
Robert D. Patton
Deepan Pavendranathan
Alejandro E. Perez
Jan M. Petzel
Tushar Poddar
Jeff Pollard
Nicole Pullen-Ross
Steven J. Purdy
Ali Raissi
Rosanne Reneo
Paul Rhodes
Jill Rosenberg Jones
Jason T. Rowe
Matthew Rubens
Joshua A. Rubinson
Owi Ruivivar
Jennifer A. Ryan
Andrew S. Rymer
Albert Sagiryan
Hiroyoshi Sandaya
John Santonastaso
Nana Sao
Eduardo Sayto
Michael Schmitz (EQ)
Mike Schmitz (FICC)
Michael Schramm
Beesham A. Seecharan
Peter Sheridan
Seung Shin
Andrea Skarbek
Spencer Sloan
William Smiley
Taylor Smisson
Gary Smolyanskiy
Nishi Somaiya
Michael R. Sottile Jr
Andre Souza
Oliver Stewart-Malir
Heidi C. Sutton
Christopher W. Taendler
Winnie Tam (IA)
Trevor Tam
Luke D. Taylor
Vipul Thakore
Michael D. Thompson
Artur Tomala
John B. Tousley
Alfred Traboulsi
Alexandre Traub
Eddie Tse
Hidetoshi Uriu
Dirk Urmoneit
Ram Vittal
Michael Voris
Thomas W. Waite
Joseph F. Walkush
Steve Weddell
Paul Weitzkorn
Andrew M. Whyte
Vicky Wickremeratne
Ed Wittig
Jon J. Wondrack
Yvonne Y. Woo
XueYing Shel Xu
Zhizhun Xu**
Takashi Yamada
Xiaohong Lilly Yang*
Wai Yip
Yusuke Yoshizawa
Kota Yuzawa
Richard Zhu
Mikhail Zlotnik

XXXXX


Part 46


November 21, 2011

Iceman1: What idiot wants a major company like GS to fail. The world economy is in enough problems. We don't need another Lehman etc. I don't get these negative people looking for another major banking collapse. Do they think that will help them and their lot in life IF GS fails?!


*****


November 21, 2011

SouthAmerica: “Goldman Sachs the Pillage People” is going to implode because they can take their scams only so far before the entire structure comes crashing.

If you have any “Goldman Sachs the Pillage People” stock, I would suggest that you sell it before the shit hits the fan. “Goldman Sachs the Pillage People” will be able to manipulate its stock only so far before it sinks like the Titanic.

Remember this time around “Goldman Sachs the Pillage People” will not be able to pillage money from the American tax payer like they did last time, and Warren Buffet probably will not be there one more time to try to help the Titanic from sinking. He knows that this time the ship hit the final iceberg and the big ship is going to the bottom of the sea.

We live in an age where things get out of control almost overnight, and when the speculators smell blood they go for the kill.

Remember “Goldman Sachs the Pillage People” has screwed too many people from around the world and they have made a lot of enemies and there are a lot of people who would like to take “Goldman Sachs the Pillage People” out of its misery ASAP.

They keep screwing everybody in sight, and eventually their crimes will catch up with reality and these crooks will be put out of business like never seen before.

Keep in mind: Today Bernie Madoff is considered to be just an amateur when compared with “Goldman Sachs the Pillage People” and their network of thieves.


In a Nutshell:

“Goldman Sachs the Pillage People” days are numbered.


XXXXX


Part 47


November 27, 2011

SouthAmerica: ‎"Goldman Sachs the Pillage People" reminds me of the Titanic - this ship has hit the iceberg and it's going to the bottom of the sea.

The smart money probably is leaving the "Goldman Sachs the Pillage People" stock as fast as they can, before the herd gets spooked and start the final stampede, and we have another major meltdown even bigger than the Lehman Brothers collapse.

With the coming demise of ‎"Goldman Sachs the Pillage People" we have another symbol of American capitalism that bites the dust.
Most people can’t see the obvious even to save their lives. Besides people are greedy by nature, and they underestimate their actual risk and they end up sinking with the ship.

When I mentioned that the "Goldman Sachs the Pillage People" stock is in the process of sinking just like Lehman Brothers stock – the "Goldman Sachs the Pillage People" stock was trading at US$ 93 per share.

Depending how greedy you are you will probable will sell your position of "Goldman Sachs the Pillage People" stock at US$ 88 per share, or US$ 60 per share, or US$ 25 per share or you might decide to ride the stock all the way to the single digits.


Paul Craig Roberts: Germany's Failed Bond Auction was Orchestrated by the Banks – November 25, 2011
http://www.youtube.com/watch?v=7wkZiMW02u0



Mike Adams - Paul Craig Roberts: The End of the EU! – November 23, 2011
http://www.youtube.com/watch?v=9xABcm7hllE


November 23rd 2011

Economist and the former Assistant Secretary of the Treasury in the Reagan Administration, Dr. Paul Craig Roberts. He is the author of How the Economy Was Lost: The War of the Worlds and The Tyranny of Good Intentions: How Prosecutors and Law Enforcement Are Trampling the Constitution in the Name of Justice.

Now the Greek and Italian prime ministers have been replaced by an EU coup d'etat with suitable EU candidates approved by Germany and the banks to make sure there is no question that the over taxed citizens of these nations as well as the other PIGGS will surely be taken to the EU slaughter house and gutted without delay. The Greek parliament appointed Lucas Papademos (former European Central Bank VP) and the Italians appointed (former European Commissioner) Mario Monti to replace Silvio Berlusconi. Mario is an advisor to Goldman Sachs which helped create the worldwide sovereign debt crisis and he is a leading member of the Bilderberg Group and the Trilateral Commission. Therefore we know where the loyalties of this EU Quisling puppet are and they certainly aren't with the people of Italy.

EU style democracy requires that national leaders should always be loyal first to the European Union and the banks invested in government debt rather than to the citizens of the former sovereign nations. They must agree to continue to borrow more so the new sovereign debt loans can be used to pay interest to the banking oligarchs. Only a miniscule amount of the new borrowing is for the nation or the future generations that will be impoverished by the debt load. Finally, a necessary amount of graft is built in for the leading political interests and the rest is earmarked for payment back to the foreign banks so they will receive their interest payments.


Paul Craig Roberts: GOP debate is an amazing collection of stupidity – November 23, 2011
http://www.youtube.com/watch?NR=1&v=O3Y73ZRIlXA

Last night's GOP debate focused on foreign policy and national security. The presidential hopefuls debated topics from the Patriot Act to the roll of the TSA, while some critical topics were avoided such as the Eurozone and Iran. Doctor Paul Craig Roberts, former Reagan administration official and columnist, gives us his thoughts on the GOP debate.


*****


In a Nutshell:

Reminder: this time around “Goldman Sachs the Pillage People” will not be able to pillage money from the American tax payer like they did last time. No US government bailout for these crooks, and Warren Buffet probably will not be there this time around to try to help the Titanic from sinking. He knows that this time the ship hit a humongous iceberg, and the big ship is going to the bottom of the sea.

We live in an age where things get out of control almost overnight, and when the global speculators smell blood then they go for the kill.


XXXXX


Part 48


November 27, 2011

SouthAmerica: Over the weekend among a number of questions the interviewer asked Jim Rogers which major bank he had a major short position?

Jim Rogers said that it was not Bank of America.

Now people are speculating which major bank Jim Rogers has a major short position?

The 2 major US banking institutions that are in the edge of the abyss are: JP Morgan Chase and “Goldman Sachs the Pillage People”.

My guess is that Jim Rogers bet is against “Goldman Sachs the Pillage People,” that this organization will die first of a sudden death, followed soon after by JP Morgan Chase.

Keiser Report: Unemploy Wall Street – November 26, 2011


The 99 percent movement & Wall Street-On the Edge with Max Keiser-11-25-2011



In this edition of On the Edge, Max Keiser interviews David DeGraw from AmpedStatus.com.

He talks about the 99 percent movement from which the Occupy Wall Street sprung out and comments on its aims and implications.


XXXXX


Part 49


November 30, 2011

SouthAmerica: The rigged game is crashing all around us. The entire financial system is collapsing and the run in the banks is about to start.

Just a reminder: Most people can’t see the obvious even to save their lives. Besides people are greedy by nature, and they underestimate the actual risk, and they end up sinking with the ship.

When I mentioned that the "Goldman Sachs the Pillage People" stock was in the process of sinking just like the Lehman Brothers stock – the "Goldman Sachs the Pillage People" stock was trading at US$ 93 per share.

Depending on how greedy you are, or on how smart you are, then you will probably sell your position of "Goldman Sachs the Pillage People" stock “ASAP.” You can bet that the smart money has already started selling this stock, maybe you still can sell your position at around US$ 88 per share, or when the stock reaches US$ 60 per share, or US$ 25 per share or if you are a real “fool” then you might decide to ride the stock all the way to the single digits.


*****


Note: In the summer of 1986 members of my family and some friends thought that I was out of my mind when I said that the Soviet Union was going broke, and bankrupt.

Believe me when I say that in 1986 most Americans, maybe 100 percent of the population believed that the Soviet Union was a superpower and a menace to the future of the United States. And when someone like me came out and said that the Soviet economy was collapsing – the reaction of everybody was to laugh at what I was saying. Not a single person at the time believed me, and they thought that I was full of nonsense.


The same type of illusion people had about the the super status of the Soviet Union, in a smaller scale they have today regarding the decline and demise of "Goldman Sachs the Pillage People"

I was right then about the coming demise of the Soviet Union, but today the coming collapse of "Goldman Sachs the Pillage People" it should be much more obvious to everyone.


*****

Gerald Celente - Infowars nightly News - 28 Nov 2011 – Part 1 of 2


Gerald Celente - Infowars nightly News - 28 Nov 2011 – Part 2 of 2


Celente, Corzine and the Great U.S. Bank Holiday – November 21, 2011



*****


This is an interview with Author and Journalist Nomi Prins. As a former Managing Director at Goldman Sachs, Nomi has first hand experience working with the criminal class, but she walked away with her soul intact. Nomi and I speak in detail about MF Global, Jon Corzine and the criminal Kleptocracy.

NOMI PRINS: MF Global & Corzine, the Made Man - Part One – November 23, 2011


NOMI PRINS: The Rigged House of Cards Crumbles - Part Two – November 23, 2011



XXXXX


Part 50


December 1, 2011

SouthAmerica:

Word of the Day: Over-the-Counter (OTC) – November 30, 2011


Nomi Prins: Banks are like "Government-Sponsored Mafias" – November 29, 2011



XXXXX


Part 51


December 13, 2011

SouthAmerica: With the potential of massive losses coming in the pipeline combined with many other troubles that will affect “Goldman Sachs the Pillage People”'s revenues I decided to check why this stock is not falling down like AIG, and Lehman Brothers just a few years ago?

The time to sell this stock is today, before that stock falls off a cliff, and the declining price of the stock sinks like the Titanic, or in Wall Street jargon; collapses just like Lehman Brothers.

I wonder which institutional investors and mutual funds are going to lose money when this ship sinks, and here is a list of potential sellers of this stock.

I wonder why this stock is not declining at a faster rate. Then I came across Goldman's stock buyback program and realized the demand for that stock must be from this source.

Then I checked some of Goldman's latest SEC fillings, and I found out that in the last six months insiders were selling their positions in “Goldman Sachs the Pillage People” stock, and I did not see listed on that report any insiders who were buying that stock.

I guess, some insiders must be leaving the ship, before the ship sinks after hitting head on the incoming massive hurricane category 10.


*****

Goldman Sachs Target of Occupy Protests at West Coast Ports

Alison Vekshin and James Nash, © 2011 Bloomberg News
Monday, December 12, 2011

Dec. 12 (Bloomberg) -- Occupy Wall Street protests spread to U.S. West Coast ports as demonstrators tried to halt shipping operations and cut into profits at Goldman Sachs Group Inc., which owns a stake in the largest cargo-terminal operator.

..."This isn't about the truckers," Charles Rachlis, 55, a government scientist from El Cerrito, California, said in an interview at the Oakland protest. "We have to shut down the wheels of capitalism at the port. This scares the bejesus out of Wall Street."



*****

Occupy Wall Street takes on Goldman Sachs; 17 arrested – December 13, 2011


Seventeen people were arrested Monday as hundreds of Occupy Wall Street protesters marched outside Goldman Sachs to show support for similar protests around the country that have been shut down in recent days.

The group marched from Zuccotti Park - its former base camp until the NYPD dismantled it last month - to the investment bank's West Street headquarters, protesting the financial firm and its bonus-paying practices.

Demonstrators dressed in squid costumes, playing off Rolling Stone writer Matt Taibbi's description of Goldman Sachs as "a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money."

"All they do is steal people's money," said protester and Harlem resident George Machado, 20, who has been part of Occupy Wall Street since it began in September. "And we bail them out. It's pretty disgusting."

Protesters said they were upset at the banking firm for accepting bailout money, paying employees high salaries and bonuses, betting against investments and using its riches to influence politics.

"It seems like nothing has changed, even though there's been an economic collapse," explained demonstrator Cristina Winsor, 34, an NYU graduate who lives in the Meatpacking District. "Goldman Sachs needs to be held responsible."

Amid chants of "Everybody pays their tax, everyone but Goldman Sachs," some protesters used humor to stress their point. One group handed out fliers to commuters during the demonstration reading, "We're just a bunch of privileged kids who don't know what we're talking about."


*****


CNNMoney - Fortune Magazine - July 26, 2011

Goldman's uphill buyback battle


...Perhaps hoping to ease some of the sting of its rare earnings miss, Goldman said last Tuesday it would repurchase as many as 75 million shares in coming years. The plan isn't novel: Goldman has spent $37 billion on buybacks since 2002, mostly to mop up stock issued to pay its famously well compensated employees.

But the buyback plan is nothing if not big -- and comes at a time when investors are wondering what sort of money they can reasonably expect to make backing the big banks, too big to fail or otherwise. Goldman's return on equity in the first half of 2011 was at best half the firm's long-term target. That performance goes a long way toward explaining the stock's 15% decline this year, and no doubt puts the firm on its back foot in dealing with some owners.

"We remain focused on generating superior returns for our shareholders," financial chief David Viniar said last Tuesday in announcing the plan on a conference call.

At current prices buying back all that stock would cost around $10 billion. Even for an outfit rolling in it the way Goldman is, that's a good chunk of change.

What's more, buybacks now look like a good deal for shareholders, which isn't always the case. The firm has spent an average of $142 and change buying back shares since 2002 -- well above the firm's book value, a measure of net worth. But with the stock lately trading just above Goldman's reported per-share book value of $131, repurchases may now make sense from a purely financial point of view – which is why Viniar said Goldman could potentially step up the pace.

Yet shareholders' response has been decidedly lukewarm. While Goldman shares are up 6% over the past week, the bounce comes off a low not seen since April 2009, when the financial system was still smarting from the collapse of Lehman Brothers.

And while some boosters say a big blank check for buybacks could finally put a floor under the stock – "we believe downside risk is limited at this time," writes Wells Fargo analyst Matt Burnell – no one is claiming the buybacks are going to get Goldman stock flying again.

"While the repurchase authority now amounts to about 16% of shares outstanding, we would not suggest that this is the net repurchase indicator that we have been suggesting would ultimately be the catalyst to revalue the shares higher," writes Barclays Capital analyst Roger Freeman.

In part that's because Goldman issues so many shares to its workers, who last year took home an average of $430,000, much of it in stock. The firm has spent $3 billion repurchasing almost 20 million shares this year, but its share count has fallen just half as much.

At that rate Goldman's share count will resume declining over coming years, after a brief surge during the crisis as the bank raised capital. A falling share count will boost per-share earnings and book value (a measure of net worth) – but probably not fast enough to make the stock more appealing to risk-averse investors.

Further complicating matters is the role of regulators, who after their winning performance during the credit bubble are rightly intent on keeping the big banks from detonating the economy again. They want the biggest banks to keep more capital on hand. That means giving less to shareholders in dividends and buybacks, at least till the economic uncertainty lifts, which is looking like sort of a long shot at the moment.


*****


Goldman Sachs the Pillage People”

Key Statistics


Share Statistics
Avg Vol (3 month)3:7,954,910
Avg Vol (10 day)3:7,985,950
Shares Outstanding5:492.31M
Float:410.53M
% Held by Insiders1:5.88%
% Held by Institutions1:68.60
%Shares Short (as of Nov 30, 2011)3:9.77M
Short Ratio (as of Nov 30, 2011)3:1.40
Short % of Float (as of Nov 30, 2011)3:1.90
%Shares Short (prior month)3:7.91M


*****


Major Holders
Get Major Holders for:
Breakdown

% of Shares Held by All Insider and 5% Owners:
6%
% of Shares Held by Institutional & Mutual Fund Owners:
69%
% of Float Held by Institutional & Mutual Fund Owners:
73%
Number of Institutions Holding Shares:
1057


Top Institutional Holders
Holder
Shares
% Out
Value*
Reported
Capital World Investors
28,071,390
5.70
2,654,149,924
Sep 30, 2011
STATE STREET CORPORATION
19,291,536
3.92
1,824,014,728
Sep 30, 2011
VANGUARD GROUP, INC. (THE)
18,811,703
3.82
1,778,646,518
Sep 30, 2011
MASSACHUSETTS FINANCIAL SERVICES CO - OTHER
13,509,496
2.74
1,277,322,846
Sep 30, 2011
CITIGROUP INC.
13,417,525
2.73
1,268,626,988
Sep 30, 2011
BlackRock Institutional Trust Company, N.A.
12,851,174
2.61
1,215,078,501
Sep 30, 2011
WELLINGTON MANAGEMENT COMPANY, LLP
12,461,933
2.53
1,178,275,765
Sep 30, 2011
DODGE & COX INC
11,760,925
2.39
1,111,995,458
Sep 30, 2011
PRICE (T.ROWE) ASSOCIATES INC
8,206,135
1.67
775,890,064
Sep 30, 2011
JP MORGAN CHASE & COMPANY
7,156,633
1.45
676,659,650
Sep 30, 2011














































Top Mutual Fund Holders
Holder
Shares
% Out
Value*
Reported
AMERICAN BALANCED FUND
8,196,700
1.66
774,997,985
Sep 30, 2011
DODGE & COX STOCK FUND
6,838,700
1.39
646,599,085
Sep 30, 2011
GROWTH FUND OF AMERICA INC
6,756,000
1.37
638,779,800
Sep 30, 2011
VANGUARD TOTAL STOCK MARKET INDEX FUND
5,545,082
1.13
737,994,963
Jun 30, 2011
WASHINGTON MUTUAL INVESTORS FUND
4,992,000
1.01
471,993,600
Sep 30, 2011
VANGUARD 500 INDEX FUND
4,646,565
0.94
618,411,335
Jun 30, 2011
VANGUARD INSTITUTIONAL INDEX FUND-INSTITUTIONAL INDEX FD
4,186,594
0.85
557,193,795
Jun 30, 2011
SPDR S&P 500 ETF Trust
3,965,848
0.81
374,970,928
Sep 30, 2011
MFS SERIES TRUST I-MFS VALUE FUND
3,843,195
0.78
446,656,122
Aug 31, 2011
COLLEGE RETIREMENT EQUITIES FUND-STOCK ACCOUNT
3,307,300
0.67
524,537,780
Mar 31, 2011


Value shown is computed using the security's price on the report date given.
Currency in USD.


XXXXX


Part 52


December 15, 2011

SouthAmerica: Goldman's partners are jumping ship before the Titanic sinks, trust regarding this organization is evaporating very fast, as more and more people realized that only fools and suckers do any business with this company.

The Chinese are getting smart and they are paying attention to a book called "Goldman Sachs Conspiracy," which argues that the bank is set on destroying China.

I am raising the red flag in Brazil regarding “Goldman Sachs the Pillage People” and their network of thieves. If any Brazilian company or any Brazilian government representative at all levels including the federal, state and local government decide to do any business with “Goldman Sachs the Pillage People” that means that that person is completely stupid or is corrupt to the core and it's involved in some kind of illegal scheme.

In a nutshell: “Goldman Sachs the Pillage People” days are numbered.

The smart money is leaving this toxic stock, their executives are jumping ship and anybody with any brains stopped doing business with these crooks.

This time around there's no US government or Warren Buffett to bailout these crooks. This time the Titanic is going down to the bottom of the sea.


*****

New signs of trouble for Goldman Sachs – December 14, 2011



Goldman Sachs, the once-mighty king of Wall Street, appears to be losing employees, market share and the confidence of investors.

...Goldman has also lost out in the booming new market in Chinese stock offerings. While Goldman has led the third most IPOs around the world, in China it has only led one in the last three years, Bloomberg says. This is significant because China may be where much of the market growth comes moving forward.

One culprit fingered for the bank's troubles in China -- along with the bank's caution in approaching the less regulated markets there -- is a book called "Goldman Sachs Conspiracy," which argues that the bank is set on destroying China.

The hard times appear to be weighing on executives at Goldman. Bloomberg reporters combed through the bank's findings to determine that at least 37 of Goldman's partners -- one of the most prized positions on Wall Street -- have left the firm this year, more than in any year since the financial crisis.

This comes after news earlier this week that Goldman was canceling recruiting events at Ivy League schools after facing protests on campus fueled by the Occupy Wall Street anger.

While Goldman shares are up slightly Wednesday, they have fallen over 45% since the beginning of the year.


XXXXX


Part 53


December 14, 2011

SouthAmerica:

Naked short selling redefining systemic risk (part 1 of 2)



***

Naked short selling - redefining systemic risk (part 2 of 2)



*****

GOLDman Sachs fat fingers



*****


Capital Account: William K. Black on MF Global and Jon Corzine Culpability (12/08/11)

From Goldman Sachs to governor to grilling, Jon Corzine former CEO of the now bankrupt MF Global testifies on Capitol Hill. He claims he is clueless about how and where the possible $1.2 billion dollars of his client's money is that is missing. How has all of this happened three years after the financial crisis when Wall Street was supposed to be reined in? And the golden boys of Wall Street have their Goldman tentacles spread over the MF Global case. The head of the CFTC - MF Global's regulator - has recused himself from the MF Global probe because he worked with Jon Corzine at Goldman Sachs. We speak to William K. Black, a former regulator who during the Savings and Loan crisis oversaw more than 10,000 criminal referrals, 1,000 felony convictions, and where hundreds of bankers went to prison.


XXXXX


Part 54


December 13, 2011

SouthAmerica: Since I posted the above information early this morning the “Goldman Sachs the Pillage People” stock lost US$ 5.00 in value.

“Goldman Sachs the Pillage People” stock - As of December 13, 2011

Day's Range:93.35 – 99.94
Volume:10,095,884Avg
Vol (3m):7,954,910

In a down market volume is up 27 percent compared with the 3 month average.

This is only the tip of the iceberg.


The Street - 12/13/11 - 04:25 PM EST

"Goldman Sachs: Financial Loser”



NEW YORK (TheStreet) -- Goldman Sachs (GS_) was the loser and big U.S. financial names on Tuesday, with shares sliding 3% to close at $95.04.


XXXXX


Part 55


December 15, 2011

SouthAmerica:

Goldman Sachs is controlling our government – December 14, 2011



XXXXX


Part 56


December 15, 2011

SouthAmerica: A book called "Goldman Sachs Conspiracy," which argues that the bank is set on destroying China.


...December 15, 2011

SouthAmerica: Goldman's partners are jumping ship before the Titanic sinks, trust regarding this organization is evaporating very fast, as more and more people realized that only fools and suckers do any business with this company.

The Chinese are getting smart and they are paying attention to a book called "Goldman Sachs Conspiracy," which argues that the bank is set on destroying China.

I am raising the red flag in Brazil regarding “Goldman Sachs the Pillage People” and their network of thieves. If any Brazilian company or any Brazilian government representative at all levels including the federal, state and local government decide to do any business with “Goldman Sachs the Pillage People” that means that that person is completely stupid or is corrupt to the core and it's involved in some kind of illegal scheme.

In a nutshell: “Goldman Sachs the Pillage People” days are numbered.

The smart money is leaving this toxic stock, their executives are jumping ship, and anybody with any brains has stopped doing business with these crooks.

This time around there's no US government or Warren Buffett to bailout these crooks. This time the Titanic is going down to the bottom of the sea.


XXXXX


Part 57


The "smart money" is selling their “Goldman Sachs the Pillage People” stock ahead of the herd.

December 13, 2011

SouthAmerica: The "smart money" is connecting the dots...and probably these are the people who are selling their stock ahead of most people, before the herd gets spooked and starts the final stampede.



XXXXX


Part 58


This time “Goldman Sachs the Pillage People” is going down!!!!!!!!!

Occupy Wall Street at Goldman Sachs, Crooks and Thieves Protected by Police – December 12, 2011



XXXXX


Part 59


December 15, 2011

SouthAmerica:

Corzine is the former Chief Executive Officer of infamous Goldman Sachs

When you watch this video go to minute 58 of this video where Rep. Marcy Kaptur gives her 5 minute
presentation about corruption in Wall Street... including infamous Goldman Sachs.


XXXXX


Part 60


December 15, 2011

SouthAmerica:

The Washington Post/The Associated Press – December 15, 2011

Fitch downgrades debt ratings on Goldman Sachs



XXXXX


Part 61


December 20, 2011

SouthAmerica:

The “smart money” is selling Goldman Sachs stock as fast as they can because this stock has become toxic and is in the process of imploding like Lehman Brothers did a few years ago.



December 20, 2011

The “smart money” is selling Goldman Sachs stock as fast as they can because this stock has become toxic and is in the process of imploding like Lehman Brothers did a few years ago.

The Financial Times (UK) had a front page story yesterday about "Tie-up to boost US mortgage probe" and the article said: " The federal watchdog overseeing US mortgage finance companies Fannie Mae and Freddie Mac is joining force with New York's attorney-general to investigate banks' mortgage securitisation practices, a partnership that could make it easier for authorities to bring fraud charges against Wall Street companies."

The big guns will be sharing information to build government-led lawsuits aimed at large banks such as J.P. Morgan and Goldman Sachs for defrauding Fannie Mae and Freddie Mac or institutional investors.

That's only the tip of the iceberg of why smart money is trying to leave the "Goldman Sachs the Pillage People" stock as fast as they can before the herd gets spooked and starts the stampede.

At the end of the day: the problems are snowballing and the "Goldman Sachs the Pillage People" stock is becoming more toxic by the day.


XXXXX


Part 62


December 21, 2011

SouthAmerica:

In a nutshell: the “Goldman Sachs the Pillage People” days are numbered, because your house of cards is collapsing around you.



XXXXX


Part 63


December 28, 2011

SouthAmerica: The “Goldman Sachs the Pillage People” days are numbered.

2012 is the year when “Goldman Sachs the Pillage People” will leave Brazil, after closing its subsidiary in that country.

Here is why:

Over the years “Goldman Sachs the Pillage People” screwed a lot of people around the world on its efforts to make a quick buck.

In my opinion, there are a lot of people around the world who must have a legitimate and a valid claim against “Goldman Sachs the Pillage People” Corporation assets.

If I were any of these people, I would not waste any time suing “Goldman Sachs the Pillage People” in the United States, since this corporation has a lot of connections and a lot of power inside the US government.

At the end of the day, suing “Goldman Sachs the Pillage People” in the United States it would be a waste of time and money, because of their power structure in that country.

What would be the best strategy for all the people who think that they have a legitimate and a valid claim against “Goldman Sachs the Pillage People” Corporation assets?

Sue “Goldman Sachs the Pillage People” subsidiary in Brazil, and ask the Brazilian government to freeze all “Goldman Sachs the Pillage People” assets that they have in that country.

Some of the people who might have a legitimate and a valid claim against “Goldman Sachs the Pillage People” Corporation assets are as follows:

The Greek people, since “Goldman Sachs the Pillage People” helped the Greek government hide important information for them to qualify for the euro, then “Goldman Sachs the Pillage People” used that information to bet against the Greek government and helped destabilize and destroy the economic system of that country.

All the pension funds, hedge funds, and other investors who invested in the sub-prime crap that “Goldman Sachs the Pillage People” sold around the world to unsuspecting investors as being high grade investments.

The Libyan people could have a claim “Goldman Sachs the Pillage People” and try to recover the 98 percent of over US$ 2 billion dollars money that belonged to the Libyan Sovereignty Investment fund that were entrust to “Goldman Sachs the Pillage People” to manage it.

The Libyan people alone have a legitimate and a valid claim against “Goldman Sachs the Pillage People” for over US$ 2 billion dollars. And they should try to recover that money in Brazil.

Probably after the word gets around that various groups have sued the “Goldman Sachs the Pillage People” subsidiary in Brazil in an effort to recover their losses, a lot more people will come out of the woodwork who also think that they have a legitimate and a valid claim against “Goldman Sachs the Pillage People” Corporation assets.

The sooner all these people start suing the “Goldman Sachs the Pillage People” subsidiary in Brazil, the better it would be their chances of recouping some of the money they lost because of this highly unethical, predatory and cancerous organization.


In a nutshell:

The smart money knows that the “Goldman Sachs the Pillage People” days are numbered.

The “smart money” is aware that the Goldman Sachs stock is becoming toxic very fast, and it is just a matter of time for this stock to implode like Lehman Brothers did a few years ago.


XXXXX


Part 64


December 28, 2011

SouthAmerica: I agree with Max Keiser, we will have another major financial collapse in 2012 similar to 2008.

Enjoy the ride.

And this time around instead of Lehman Brothers, I hope "Goldman Sachs the Pillage People" have a complete financial meltdown.

The United States and the world will be a better place without the crooks and scam artists from "Goldman Sachs the Pillage People" and their network of thieves.

Max Keiser takes offense to Goldman Sachs story Part 1 of 2 – December 23, 2011


Max Keiser takes offense to Goldman Sachs story Part 2 of 2 – December 23, 2011



XXXXX


Part 65


January 7, 2012

SouthAmerica: If you have some extra time to figure out what is going on regarding the global economy, then it is worth for you to listen to this interview with Gerald Celente - he gives an excellent analysis of the collapsing global economy.

Gerald Celente - Coast to Coast AM - 05 January 2012



XXXXX


Part 66


January 11, 2012

SouthAmerica:

How Goldman Sachs Makes Profits Part 1 by PBS News – January 11, 2012


How Goldman Sachs Makes Profits part 2 by PBS News – January 11, 2012



XXXXX


Part 67


January 11, 2012

SouthAmerica:

Goldman Sachs behind the Greek crisis - FRANCE 24 – January 8, 2012



XXXXX


Part 68


January 11, 2012

SouthAmerica: Goldman Sachs is the most powerful Mafia family in the United States in every way, and more profitable than any of their peers:

1) Goldman Sachs
2) Lucchese
3) Bonanno
4) Gambino
5) Colombo
6) Genovese


Now that “Goldman Sachs the Pillage People” has two members of their network of thieves placed in strategic positions in Europe one as Prime Minister of Italy – Mario Monti – and the other one as European Central Bank President - Mario Draghi – I wonder how “Goldman Sachs the Pillage People” will perform against their peers in Italy.

Here is how “Goldman Sachs the Pillage People” peers are organized in Italy:

Organised crime families in Italy

Although the original Mafia in Italy are from Sicily, the problem of organised crime in Italy is something that affects the entire country. Today there are believed to be 4 or 5 main Mafia families operating in Italy and in many cases with criminal enterprises spanning two or three continents. These Mafia families in Italy have up to several thousand members. The main mafia groups in Italy are outlined below.

The Sicilian Mafia in Italy

The Sicilian Mafia is the original mafia in Italy and dates back to the 19th century. The term Mafia is not one that is actually used by members of this crime organisation in Italy. The term cosa nostra or ‘our thing’ is preferred by Sicilian mafia members. Like all mafia groups in Italy, the Sicilian Mafia operates a code of honour and has a strict hierarchical structure. Recruits to the Mafia are sworn in to the family through secret ceremonies, after which point they become mafia members and are expected to stay so for life. The Sicilian mafia is most famous to the outside world because of its branch in America which arose out of mass migration from Sicily in the late 19th century. Inside Italy, The Sicilian mafia is particularly known for its assassinations of high profile figures including police chiefs, judges and politicians.

The Naples Mafia in Italy


The power of the Naples mafia was recently attested to when in 2004 police were literally surrounded and made hostage by a whole neighbourhood when they tried to capture a leader of the Naples Mafia. The Naples Mafia in Italy is known as the Camorra. The origins of the Naples Mafia are believed to date back to the 19th century when it was formed as a prison gang. Over the years inmates were released and began to operate their criminal enterprises in and around Naples. Today there are believed to be about 7000 members of the Naples Mafia who operate in about 100 small families. The criminal activities for which the Naples Mafia is most known are cigarette and drug smuggling as well as counterfeiting.

The Calabria Mafia in Italy


This mafia family in Italy is known as the 'Ndrangheta. The origins of this mafia group date back to the 19th century when a group of Sicilians were expelled from Sicily by the newly formed unified government. These Sicilians settled in the Calabria region and began to form small crime groups. Today the Calabria Mafia is believed to have about 6000 members who are particularly hard to infiltrate because the organisation is based on blood ties and marriage.

The Puglia Mafia


The Puglia Mafia is known as Sacra Corona Unita or SCU which means the sacred united crown. This is the newest of the Mafia groups in Italy and only became known in the 1980’s. It is believed to have originated as a prison gang whose inmates settled in the Puglia region upon release. This Mafia gang collects money from other Mafia families in Italy for landing rights in south east Italy, which is a lucrative enterprise because this is where all the smuggled goods and people from Eastern Europe are most likely to land.

*****

Note: It will be very interesting if the Italian mafia decides to eliminate their competition, mainly a predator that is moving into their turf to pillage everything in sight.

I can't wait for the movie to come out “The War of the Mafias” - how “Goldman Sachs the Pillage People” got their ass kicked by the Real Italian mafia.


XXXXX


Part 69


January 17, 2012

SouthAmerica:

Keiser Report: Economics of Suicide – January 17, 2012


Max Keiser: 'Who are the rating agencies serving?' - January 17, 2012



XXXXX


Part 70


February 28, 2012

SouthAmerica:

Keiser Report: Weed Out Wall St. Crooks! - February 28, 2012


In this episode, Max Keiser and co-host, Stacy Herbert, discuss 'no wrongdoing' settlements, defrauding school children and a morbidly obese, bedridden Volcker Rule. In the second half of the show, Max talks to Karl Denninger of the Market-Ticker.org about rigging Libor, ruining Volcker and shorting Facebook.

Genesis of 99 percent movement-On the Edge with Max Keiser - 02-24-2012



XXXXX


Part 71
February 29, 2012

SouthAmerica: They just posted the enclosed article on Yahoo News:

The U.S. federal authorities should investigate who is behind the current manipulation of the price of GS stock.

It does not make sense why that stock has been going up with a consistent poor daily volume.


*****


Reuters – February 29, 2012

Goldman manager investigated for insider trading role - WSJ”



REUTERS - U.S. federal authorities are investigating David Loeb, a managing director of Goldman Sachs Group Inc, as part of an insider trading probe focusing on technology stocks and the company's hedge fund clients, the Wall Street Journal reported on Wednesday, citing people close to the matter.


XXXXX


Part 72


March 10, 2012

SouthAmerica: Here is denigrate capitalism for you:

Bloomberg News – March 9, 2012

Judge orders documents in Overstock case unsealed

Goldman Sachs Group Inc. and Bank of America Corp. documents that were deemed confidential in a lawsuit filed against them by Overstock.com Inc. must be made public, a state court judge in San Francisco ruled.

The case involves a 2007 lawsuit by Salt Lake City-based Overstock claiming the banks manipulated its stock from 2005 to 2007, causing its shares to fall. State Court Judge John Munter dismissed the case on Jan. 10, ruling the conduct took place outside of California. Overstock appealed, and also asked Munter to make public those documents he put under seal.

Munter granted Overstock’s request to make public a large chunk of documents. "The subject matter of this action is of substantial public interest. This case concerns publicly traded securities and the operation of the national securities markets, and those are of great public interest."

Munter also ruled, though, other documents "laced with identifying information about hundreds of thousands of financial transactions of third parties" should remain sealed.

David Wells, a spokesman for New York-based Goldman Sachs, declined to comment. Bill Halldin, a spokesman for Charlotte, North Carolina-based Bank of America, said in an email that the bank is reviewing the decision.

"Our primary goal has been to ensure that the confidentiality of sensitive client information be protected," Halldin said.
Overstock claims large portions of its stock was the subject of illegal naked shorting,

Short-selling is a legal practice in which brokerages allow investors to borrow and then sell a company’s stock on the hope its price will drop. If that happens, investors then can buy back the stock at a lower price, pocket the profit and return the shares to the brokerages. Naked short-selling takes place when investors sell stock without first borrowing it. In market parlance, the seller is "naked" those shares. The usual outcome is that it creates an artificially high volume of shares for sale, which can drive down a company’s stock price.

The clearing operations at Goldman Sachs and Merrill Lynch, the brokerage acquired by Bank of America in 2009, intentionally failed to locate and deliver borrowed shares for clients, allowing the firms to earn fees and interest on phantom securities transactions, Overstock said in court filings. It sought millions in damages.

Overstock Chief Executive Officer Patrick Byrne was "thrilled" with the judge’s ruling, he said in a statement.
“I could not imagine that a post-2008 public would be denied access to this evidence, which displays in living color the flaws in our capital markets and in the regulatory structure that governs them," he said.

"Now the public will have a window through which to view this evidence and judge for itself the fraudulent and systematically risky behavior at issue in this case," he said.

Four media organizations, including Bloomberg LP, the New York Times, Wenner Media and The Economist, intervened in the case and joined Overstock’s motion for the unsealing.

The case is Overstock.com v. Morgan Stanley, CGC-07-460147, Superior Court of California, San Francisco.


*****


Bloomberg News March 5, 2012

Goldman Secret Greece Loan Shows Two Sinners as Client Unravels



*****

Goldman CEO Blankfein deposed in insider case

Reuters – March 2, 2012

(Reuters) - Goldman Sachs Chief Executive Lloyd Blankfein was interviewed under oath last week as a witness in the insider-trading case of Rajat Gupta, a former Goldman director and onetime global head of McKinsey & Co, according to court documents filed on Friday.


*****

Food News: Food crisis benefits Goldman Sachs: Food CRISIS: Talk: Health News – March 3, 2012


Food News: Food crisis benefits Goldman Sachs: Food CHRISIS: Talk: Health News

We're in the midst of a global food crisis — the second in three years. It's one factor fueling uprisings and protests in Tunisia, Egypt, and elsewhere. World food prices hit a record in January, driven by huge increases in the prices of wheat, corn, sugar and oils.

Contributing Editor for Harper's Magazine Frederick Kaufman warns there's a direct link between the sky rocketing cost of food and Wall Street, particularly Goldman Sachs who own major shares of food commodities.


*****

What Crime Haven't These Guys Committed – March 7, 2012


Goldman Sachs Driving YRC Trucking Into Bankruptcy, Hoffa Says (55,000 employees at that time)


*****

BANKS AND REHYPOTHECATION! - March 3, 2012


How many paper assets have been double, triple, and n-counted (where n can be a number up to "infinity") by the infinitely daisy-chained modern global financial system in which one's liability is someone else's asset....apparently up to infinity times..

Engaging in hyper-hypothecation have been Goldman Sachs ($28.17 billion re-hypothecated in 2011),


*****

Morning Show with Fred LeFebvre – March 8, 2012


Thursday morning Dock and Fred discuss the theory of Goldman Sachs manipulating the oil markets, mortgage applications, the job market, labor costs and Dock David's article in the Toledo Free Press.


*****

Jim Rogers - Goldseek Radio - 06 March 2012



XXXXX


Part 73


March 14, 2012

SouthAmerica: On Tuesday, March 13, 2012 the “Financial Times (UK) had a front page article: “Whistleblowers pipe up as tip-offs on white crime begin to pay”.

The article said: “Company informants tempted by the prospect of multimillion dollar payouts are rushing to US regulators with audio recordings and internal documents to take the advantage of a new programme that can make whistleblowing on wrongdoing lucrative, lawyers and regulators say.

Many of the complaints, lawyers say, involve allegations of accounting fraud and foreign bribery at financial and industrial companies. Others include allegations of market manipulation or other crimes by hedge funds and private equity firms.

Under the programme, created by the 2010 Dodd_Frank law, any person who reports a credible tip or complaint can qualify for 10 per cent to 30 per cent of the amount that the Securities and Exchange Commission recovers through the courts or a settlement. That could result in a big payday for an informant who uncovers a fraud that leads to a multimillion dollar settlement....

I wonder how much money “Goldman Sachs the Pillage People” will have to payout in new settlements regarding this new US government programme?

Eventually, people will come out of the woodwork to claim their rewards and expose the “Goldman Sachs the Pillage People” shenanigans from around the world.


*****


The New York Times – March 14, 2012

Why I Am Leaving Goldman Sachs”

By: Greg Smith

TODAY is my last day at Goldman Sachs. After almost 12 years at the firm — first as a summer intern while at Stanford, then in New York for 10 years, and now in London — I believe I have worked here long enough to understand the trajectory of its culture, its people and its identity. And I can honestly say that the environment now is as toxic and destructive as I have ever seen it.

To put the problem in the simplest terms, the interests of the client continue to be sidelined in the way the firm operates and thinks about making money. Goldman Sachs is one of the world’s largest and most important investment banks and it is too integral to global finance to continue to act this way. The firm has veered so far from the place I joined right out of college that I can no longer in good conscience say that I identify with what it stands for.

It might sound surprising to a skeptical public, but culture was always a vital part of Goldman Sachs’s success. It revolved around teamwork, integrity, a spirit of humility, and always doing right by our clients. The culture was the secret sauce that made this place great and allowed us to earn our clients’ trust for 143 years. It wasn’t just about making money; this alone will not sustain a firm for so long. It had something to do with pride and belief in the organization. I am sad to say that I look around today and see virtually no trace of the culture that made me love working for this firm for many years. I no longer have the pride, or the belief.

But this was not always the case. For more than a decade I recruited and mentored candidates through our grueling interview process. I was selected as one of 10 people (out of a firm of more than 30,000) to appear on our recruiting video, which is played on every college campus we visit around the world. In 2006 I managed the summer intern program in sales and trading in New York for the 80 college students who made the cut, out of the thousands who applied.

I knew it was time to leave when I realized I could no longer look students in the eye and tell them what a great place this was to work.
When the history books are written about Goldman Sachs, they may reflect that the current chief executive officer, Lloyd C. Blankfein, and the president, Gary D. Cohn, lost hold of the firm’s culture on their watch. I truly believe that this decline in the firm’s moral fiber represents the single most serious threat to its long-run survival.

Over the course of my career I have had the privilege of advising two of the largest hedge funds on the planet, five of the largest asset managers in the United States, and three of the most prominent sovereign wealth funds in the Middle East and Asia. My clients have a total asset base of more than a trillion dollars. I have always taken a lot of pride in advising my clients to do what I believe is right for them, even if it means less money for the firm. This view is becoming increasingly unpopular at Goldman Sachs. Another sign that it was time to leave.

How did we get here? The firm changed the way it thought about leadership. Leadership used to be about ideas, setting an example and doing the right thing. Today, if you make enough money for the firm (and are not currently an ax murderer) you will be promoted into a position of influence.

What are three quick ways to become a leader? a) Execute on the firm’s “axes,” which is Goldman-speak for persuading your clients to invest in the stocks or other products that we are trying to get rid of because they are not seen as having a lot of potential profit. b) “Hunt Elephants.” In English: get your clients — some of whom are sophisticated, and some of whom aren’t — to trade whatever will bring the biggest profit to Goldman. Call me old-fashioned, but I don’t like selling my clients a product that is wrong for them. c) Find yourself sitting in a seat where your job is to trade any illiquid, opaque product with a three-letter acronym.

Today, many of these leaders display a Goldman Sachs culture quotient of exactly zero percent. I attend derivatives sales meetings where not one single minute is spent asking questions about how we can help clients. It’s purely about how we can make the most possible money off of them. If you were an alien from Mars and sat in on one of these meetings, you would believe that a client’s success or progress was not part of the thought process at all.

It makes me ill how callously people talk about ripping their clients off. Over the last 12 months I have seen five different managing directors refer to their own clients as “muppets,” sometimes over internal e-mail. Even after the S.E.C., Fabulous Fab, Abacus, God's work, Carl Levin, Vampire Squids? No humility? I mean, come on. Integrity? It is eroding. I don’t know of any illegal behavior, but will people push the envelope and pitch lucrative and complicated products to clients even if they are not the simplest investments or the ones most directly aligned with the client’s goals? Absolutely. Every day, in fact.

It astounds me how little senior management gets a basic truth: If clients don’t trust you they will eventually stop doing business with you. It doesn’t matter how smart you are.

These days, the most common question I get from junior analysts about derivatives is, “How much money did we make off the client?” It bothers me every time I hear it, because it is a clear reflection of what they are observing from their leaders about the way they should behave. Now project 10 years into the future: You don’t have to be a rocket scientist to figure out that the junior analyst sitting quietly in the corner of the room hearing about “muppets,” “ripping eyeballs out” and “getting paid” doesn’t exactly turn into a model citizen.
When I was a first-year analyst I didn’t know where the bathroom was, or how to tie my shoelaces. I was taught to be concerned with learning the ropes, finding out what a derivative was, understanding finance, getting to know our clients and what motivated them, learning how they defined success and what we could do to help them get there.

My proudest moments in life — getting a full scholarship to go from South Africa to Stanford University, being selected as a Rhodes Scholar national finalist, winning a bronze medal for table tennis at the Maccabiah Games in Israel, known as the Jewish Olympics — have all come through hard work, with no shortcuts. Goldman Sachs today has become too much about shortcuts and not enough about achievement. It just doesn’t feel right to me anymore.

I hope this can be a wake-up call to the board of directors. Make the client the focal point of your business again. Without clients you will not make money. In fact, you will not exist. Weed out the morally bankrupt people, no matter how much money they make for the firm. And get the culture right again, so people want to work here for the right reasons. People who care only about making money will not sustain this firm — or the trust of its clients — for very much longer.


***

Greg Smith is resigning today as a Goldman Sachs executive director and head of the firm’s United States equity derivatives business in Europe, the Middle East and Africa.



XXXXX


Part 74


March 19, 2012

SouthAmerica: "Goldman Sachs the Pillage People" = a "toxic and destructive culture".

Keiser Report: Rip out eyes, tear off head – March 17, 2012



XXXXX


Part 75


March 15, 2012

SouthAmerica: I just want to mention to the regular readers of the ET forums that this fellow who use the screen name “oldtime” already had given me two warnings about my postings here on ET regarding “Goldman Sachs the Pillage People”.

I don't know what is his connection with the “Goldman Sachs the Pillage People” PR machine, which is working overtime to put out the latest fire regarding that corrupt company.

It is part of the strategy of the “Goldman Sachs the Pillage People” PR machine to try to discredit people who are putting the spotlight on that unethical, dishonest, and unprofessional corporation.

Now he comes back with the crackpot comment in another useless effort to discredit me.

This fellow besides being pathetic – he is an amateur.

Anyway, he is on my ignore list, and his postings does not show when I read the postings at the ET forums.

By the way, it is just common sense that “Goldman Sachs the Pillage People” and their PR machine are going to try to discredit that fellow every way they can regarding that article published on The New York Times yesterday.


XXXXX


Part 76


March 26, 2012

SouthAmerica:

The Independent (UK) – March 17, 2012

Satyajit Das: Goldman Sach’s flawed model


The very public and sensational “exit” interview in the opinion pages of the New York Times by the former Goldman Sachs executive director Greg Smith is more than an expose of the alleged practices of his former employer. The criticism points to a deeply flawed system, including significant failures in regulation, which Goldman Sachs and other financial institutions have exploited and which remain unaddressed.

Central to this system is in-built conflicts of interest between acting in the interest of a client - “muppets” in internal Goldman Sachs lingo - and trading on the bank’s own account.

In the 1990s, investment banking shifted from a client focused business (providing advice, underwriting securities and executing purchase and sales of financial instruments) to a business trading on the firm’s own account using shareholder capital.

The change was driven by the growth in size and capital resources of investment banks, as they evolved from private partnerships into public companies or units of large commercial banks. It was also driven by shrinking margins on traditional activities, such as lower commissions and underwriting fees, and the need for new sources of revenue to meet investor return expectations.

Investment banks feared that the separation of client business and trading with its own capital would limit their ability to compete. Under CEO Lloyd Blankfein, Goldman embraced the conflict, emphasising intelligence from trading with clients and other banks to place bets with its own money.

Major investment banks sought to become “flow monsters”, capturing a dominant proportion of trading volumes to augment their proprietary activities. To achieve this, banks used cross subsidies to attract clients with significant trading volumes. Execution or market-making, credit facilities as well as financing for large hedge funds were provided at subsidised prices. In an insidious process, this created pressure to increase trading volumes even further as well as increasing reliance on proprietary revenues to meet shareholder return targets.

The best research was channelled to support proprietary trading. Client research increasingly became devalued, evolving into a sales aid, mere puffery, for selling products or the firm’s inventory to the clients. Products were designed and sold to assist investment bank’s proprietary traders to take positions, sometimes at the expense of clients unaware of the risks.

The shift was cultural as well as economic. As trading became more prominent, the path to Chief Executive passed through the trading floors. The trader culture is isolated from clients and highly results oriented.

When combined with the toxic ecology of bonus systems that emphasis short term revenues, banks evolved a transactional business model. Deals and profits dominated at the expense of client interests and longer term relationships, a practice known as “scorched earth banking”.

Following the 1929 stock market crash and the collapse of the banking system, the Glass-Steagall Act of 1933 sought to prevent some of these conflicts of interest. Removal of these regulations in the 1990s was crucial in allowing the development of this new banking model.

In the early 1990s, derivative scandals, such as Proctor and Gamble, highlighted the problem. The Internet stock boom exposed the practices of leading investment banks in relation to stock sales and self serving research. But despite numerous enquiries, the problem was not addressed.

In 2002, America’s Sarbane-Oxley legislation failed to address the real issue – the inherent conflict of interest inherent in “integrated” financial supermarkets combining commercial and investment banks. The proposed changes in regulation following the current financial crisis do not again adequately deal with the problem.

Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, known as the Volcker rule, seeks to restrict the ability of regulated entities to undertake proprietary trading, indirectly eliminating the conflict of interest. The efforts of bank lobbyists have ensured that the final rule will be considerably weakened and riddled with exemptions. One lawyer reportedly told banks that “given so much of proprietary trading has a client nexus to it, I'll be embarrassed if I don't manage to exempt all your activities from the rule“.

In the UK, the Vickers Report considered separation of certain activities of banks.  In the end, the commission did not recommend radical reforms, proposing instead to force banks to ring fence UK retail operations rather than split along different business lines.
Unless the central conflict of interest is dealt with, banks will always be tempted to give their own proprietary interests priority to boost earnings. In reality, the only way to deal with this is by separation of client and proprietary activities.

Greg Smith’s brave statement does not merely point to questionable behaviours at the investment bank, once tagged by Rolling Stone Magazine journalist Matt Taibbi as “a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money”. The alleged practices are widespread throughout the industry, where competitors ironically see Goldman Sachs as a role model. They are ultimately the symptom of a deeply flawed and dangerous model which there is a reluctance to challenge.

Satyajit Das is author of Extreme Money: The Masters of the Universe and the Cult of Risk (2011)



XXXXX


Part 77


March 26, 2012

SouthAmerica: This is just the beginning of the end of "Goldman Sachs the Pillage People".

The Huffington Post – March 20, 2012

Ex-Goldman Partner Jacki Zehner

Subprime Crisis Shows Wall Street Harmed Its 'Moral Fiber'



*****

Business Insider – March 19, 2012

Board Needs To Ask A Heck Of A Lot Of Questions After That Op-Ed Before Collecting Another Paycheck



*****

Matt Taibbi on the Explosive Resignation of Goldman Sachs Executive Greg Smith – March 20, 2012


Financial reporter Matt Taibbi talks about Goldman Sach's history of denigrating its own clients, as recently highlighted by former Goldman executive Greg Smith's explosive resignation letter in the New York Times. Decrying what he called Goldman's "toxic" culture, Smith said bosses at the firm called their clients "muppets" and strove to maximize profits at the expense of client interests, adding: "It makes me ill how callously people talk about ripping their clients off." Goldman Sachs is now reportedly scanning internal emails for the term "muppet" and other evidence that employees referred to clients in derogatory ways. Taibbi argues it is naive to think there was ever a "golden era" when Goldman Sachs was a great financial institution.


*****

Why America Really Hates Goldman Sachs – March 22, 2012



*****

Taibbi talks Goldman Sachs – March 22, 2012


Matt Taibbi of Rolling Stone magazine breaks down the Goldman Sach's biggest heist on the American public.


XXXXX


Part 78


April 3, 2012

SouthAmerica: “Goldman Sachs the Pillage People” is taking the Europeans for ride once again.
When you are a sucker, always a sucker...

Keiser Report: Debtflation – April 3, 2012


In this episode, Max Keiser and co-host, Stacy Herbert, discuss allegations of Rupert Murdoch sabotaging competitors, America buying 61 percent of its own debt and Germany launching a strategy to counter its own largesse. In the second half of the show Max talks to Reggie Middleton about JP Morgan's muni bond bucket shop and the US Federal Reserve buying up Treasury debt.


XXXXX


Part 79


March 29, 2012

SouthAmerica:

Goldman Sachs picks India for board meeting – March 29, 2012


The Occupy Wall Street movement in New York City has run the “Goldman Sachs the Pillage People” out of town - all the way to India.

Hah, hah, hah...


XXXXX


Part 80


March 30, 2012

SouthAmerica: For the last 2 years this thread “Goldman Sachs is it a Cancer or just a Parasite of the US financial system?” has been in the ET Economics forum, but after I posted the following on this thread it was moved to the Chit Chat forum to hide this information:

That means that there a lot of substance to this posting otherwise they would not bother to try to hide the information.

Here is the information that they don't want people to see it:

March 29, 2012

SouthAmerica: The Occupy Wall Street movement in New York City has run the “Goldman Sachs the Pillage People” out of town - all the way to India.

Hah, hah, hah...


PS: The Indians can keep these thieves in India on a permanent basis.


Goldman Sachs picks India for board meeting – March 28, 2012


*****


It's big news in Wall Street when its most prominent symbol of Wall Street is forced to move its Annual Board Meeting to India, instead of having it in New York City.

In March 30, 2012 “Goldman Sachs the Pillage People” is holding its Annual Board Meeting in India, instead of New York City.

The Occupy Wall Street movement in New York City has run the “Goldman Sachs the Pillage People” out of town - all the way to India.

Goldman Sachs the Pillage People” rather have a very quiet Annual Board Meeting in India than confronting “The Occupy Wall Street” movement in New York City, mainly after all the bad publicity that these company has received in the last month regarding how disgusting this company is in every sense.


XXXXX


Part 81


April 10, 2012

SouthAmerica: “Goldman Sachs the Pillage People”: It's Time to Jump Off the Sinking Ship...

Goldman's Zaoui to Relinquish Post as M&A Co-Head – April 10, 2012


Yoel Zaoui, one of Goldman Sachs Group Inc.'s key mergers-and-acquisitions bankers, is stepping down in the latest high-level exit at the Wall Street powerhouse.

Goldman disclosed the departure of Mr. Zaoui, its global co-head of M&A, in an internal memo sent Tuesday by Chief Executive Lloyd Blankfein and President Gary Cohn. The London-based Mr. Zaoui, 51 years old, has been with Goldman for nearly 25 years.

According to a person familiar with the matter, Mr. Zaoui, a Moroccan-born French national, hasn't decided what he will do next, although he plans to keep working in the same field.


XXXXX


Part 82


April 12, 2012

SouthAmerica: Welcome to La La Land....

"Goldman Sachs the Pillage People" $44 Trillion In Wall Street Bets – April 8, 2012

How much did Goldman Sachs have in derivatives trades on their books in December 2011? The Young Turks host Cenk Uygur breaks it down on The Young Turks.


*****


April 12, 2012

SouthAmerica: This company is a nuclear time bomb, ready to go off at any moment.


“Goldman Sachs the Pillage People” - the official company song
http://youtu.be/clPcFp14I_M


“Goldman Sachs the Pillage People”

humongous risk: stock selling at $ 120 per share and the P/E = 27


Reality check:

This company is a ticking time bomb, ready to go off at any moment.

"Goldman Sachs the Pillage People" holding $44 Trillion dollars in “Derivative” trades as of December 31, 2011


XXXXX


Part 83


April 21, 2012

SouthAmerica: Just keep in mind the: Facebook IPO and the "Goldman Sachs the Pillage People" connection.

It looks like they decided to follow up on their threat....

Goldman Sachs is it a Cancer or just a Parasite of the US financial system?

..."February 18, 2012

Oldtime: "...this has gone on long enough. At first we tried to discredit you and portray you as a crackpot. But now people are actually listening to you and taking the damaging information you post seriously.

We are watching you and can shut you down at any time.

This is your second warning.

Three strikes and you are out. "


XXXXX


Part 84


April 24, 2012

SouthAmerica: The French politicians are waking up regarding “Goldman Sachs the Pillage People” -

Marine Le Pen got 20 percent of the vote in the latest French election, and she chose “Goldman Sachs the Pillage People” as being at the core and being the main culprit regarding the implosion of the European economic system, and the real cancer that is plaguing Europe.

French economy & Presidential elections-On the Edge with Max Keiser-04-20-2012


In this edition of the show Max interviews Gonzalo Lira from LiraSPG.com. He talks about the primary economic issues for France on the eve of the presidential elections both nationally and in EU.

Gonzalo Lira is an American novelist, filmmaker and economic blogger. Starting in 2010, Lira began contributing economic analysis to Zero Hedge, Naked Capitalism, Seeking Alpha and Business Insider; in Zero Hedge, one of his posts was the second most read of 2010.


*****

French Election 2012 Results: Marine Le Pen Shocks With 20% of the Vote



XXXXX


Part 85


April 25, 2012

SouthAmerica: Today I was driving and had my car radio on Bloomberg News, and at that point I started listening to an interview with the Godfather Lloyd C. Blankfein the mobster in charge of the mafia family called “Goldman Sachs the Pillage People”.

***

Interview with Godfather Lloyd C. Blankfein Chief of “Goldman Sachs the Pillage People”

...Lloyd C. Blankfein said on this interview that GS is returning capital to their shareholders primarily by share buybacks and that was an important strategy for GS.

But Lloyd C. Blankfein should have explained a little further why this GS share buybacks strategy is so important for GS stock – It gives the opportunity of create demand for GS stock first thing in the morning when they start trading, and also in the last half hour of trading to push the price of the stock up and give the impression that there's more demand for GS stock than otherwise.

In essence this share buyback strategy gives the opportunity to manipulate the price of the stock – mainly now with the blind leverage of “high frequency trading” these share buybacks help to inflate the price of the stock even more.

Probably without this constant stock buybacks events, then the price of GS stock it would be trading for less than $ 75 per share instead of the current $ 113 per share as of April 25, 2012.

That's why GS stock goes up on a regular basis with a low volume of stock being traded – GS is creating its own demand for the shares of its own stock.

*****


Lloyd Blankfein is the chairman and CEO of Goldman Sachs and has a net worth of $450 million. Lloyd Blankfein has earned his net worth partly as a corporate tax lawyer for Donovan, Leisure, Newton and Irvine but mainly from his time at Goldman. He joined J Aaron and Company in 1981, in the London office, and served as a precious metals salesman. J. Aaron & Company is Goldman’s commodity trading arm.

Goldman Sachs has been taking a lot of criticism from lawmakers about their involvement in hiding debts made by Greece, and for the operation of Goldman Sachs pay practices. Blankfein testified in front of the Financial Crisis Inquiry Commission, stating that the company was not a product maker, but only a primary market maker. He also told the Senate Permanent Subcommittee on Investigations, that they were under no obligation to tell clients that they were betting against the same products made by Goldman Sachs.

Blankfein and Goldman Sachs employees have been major contributors for Democratic candidates, such as, Hillary Clinton and Barack Obama. With almost a million dollar contribution from Goldman Sachs employees and Blankfein, their company helped to raise the most money for the 2008 campaign for Obama.

He also stated that the company was sorry for unspecified “ things that were clearly wrong and have reason to regret.

Lloyd Blankfein was born in the Bronx, New York City, in 1954. His father worked at the U.S. Postal Service as a clerk, and his mother was a receptionist. He attended the public schools in the New York City Department of Education and attended high school at Thomas Jefferson High. He was their Valedictorian, in 1971. He earned his A.B. at Harvard College and a J.D. Degree at Harvard Law School. He married Laura Susan Jacobs,(a former lawyer) in 1983 and they have three adult children. Their two son’s, Alex and Johnathan have positions at Goldman Sachs. Apparently, the boys are doing quite well at Goldman Sachs. Alex took home $155, 000 for his first year, which most recent college grads only bring home around $50,000. Johnathan Blankfied was given center seat at the energy trading desk, while most would have been stuck somewhere in the corners of the room.


*****

Goldman Sucks and Goldman Banksters and the Facebook Connection


XXXXX


Part 86


May 5, 2012

SouthAmerica:

Taiwan Documentary On Goldman Sachs



XXXXX


Part 87


May 15, 2012


SouthAmerica: I had posted about 2 weeks ago the link to this excellent documentary produced by Frontline and on part 1 they explained in detail the development of the “Derivatives” market, and the creation of a new lethal product called the “Credit Default Swaps”, and the important role that JP Morgan Chase played in the creation of this house of cards.

The program shows how smart these bankers were supposed to be and how they took a lot of people for a ride because they did not understood these instruments that they were buying from JP Morgan Chase - and various JP Morgan employees gloated over about how smart they were, and how dumb the other banks were that were buying their crap.

Today there are trillions of US dollars of that crap created by JP Morgan in global markets, and if the innovators, the supposed smart people turned out to be so clueless about what they were doing – I just imagine how many banks are going to blow up in the near future, and start a catastrophic domino effect in the international banking system.

The JP Morgan recent blowout of US$ 2 billion, with more losses to come on the pipeline, this event it's the canary in the coal mine - and it's just the tip of the iceberg.

Capital Account – May 14, 2012

Gerald Celente calls out Jamie "two-bit" Dimon and his Financial Crime Syndicate



**********

May 2, 2012

SouthAmerica: On the episode One of this series Frontline includes a very well done documentary explaining the “Derivatives” market, and the creation of a new lethal product called the “Credit Default Swaps”.

This documentary about “Derivatives” and “Credit Default Swaps” is very important for people to grasp what is behind the latest estimate figure of US$ 730 trillion dollars “derivatives nuclear weapon” market that can explode at any time resulting in a catastrophic meltdown of the global economy.

Frontline 4-Part series about Wall Street and the collapsing US financial system - one hour each episode:

Money, Power, & Wall Street – May 1, 2012
http://www.pbs.org/wgbh/pages/frontline/money-power-wall-street/?autoplay

Part 1 – Frontline explain the development of “Credit Default Swaps” a type of derivative.

Part 2 – Henry Paulson and the Wall Street bailout

Part 3 – Ben Bernanke and the Federal Reserve and the collapsing global banking system.
Ben Bernanke and the Federal Reserve supply US$ 7.7 trillion dollars to keep the game going for a while longer until the entire House of Cards meltdown.

Part 4 – Wall Street has specialized in scamming people around the world – that is how the system works, and it is how Wall Street has been making money for many years.

Wall Street doesn't screw only communities around Europe, they also screw communities around the United States, and as these predators leave wreckage and wastelands behind them, they have moved in for the kill on their next victim, it will be an easy prey: Brazil


*****


The derivatives market is an unregulated market that is in automatic pilot, and since the financial meltdown in September/October 2008 when the entire global financial system was collapsing – at that time the total outstanding notional amount of all derivatives rose from $673 trillion at June 30, 2008 to $708 trillion at June 30, 2011 – and to the latest estimated figure of US$ 730 trillion dollars as of December 31, 2011.

In a 1994 cover story by Carol J. Loomis on Fortune magazine, Fortune called derivatives, then relatively new on the scene, "The Risk That Won't Go Away."

Years later derivatives grabbed everyone’s attention when Warren Buffett called it “financial weapons of mass destruction”

The derivatives market was at the core of the events regarding the global financial meltdown of the September/October 2008.

The derivatives threat is back in a big way, and that market is ripe to explode into a catastrophic chain reaction that can result in a massive meltdown of the entire global financial system.

I have no idea who is in the other side of these derivatives with a notional amount outstanding of US$ 708 trillion US dollars as reported by the Bank for International Settlements.

BIS Quarterly Review – December 2011 – Page A 131
Table 19: Amounts outstanding of over-the-counter (OTC) derivatives
Notional amounts outstanding as of June 2011 = US$ 708 trillion

...According to the Bank for International Settlements, the total outstanding notional amount is US$708 trillion (as of June 2011). Of this total notional amount, 67% are interest rate contracts, 8% are credit default swaps (CDS), 9% are foreign exchange contracts, 2% are commodity contracts, 1% are equity contracts, and 12% are other. Because OTC derivatives are not traded on an exchange, there is no central counter-party. Therefore, they are subject to counter-party risk, like an ordinary contract, since each counter-party relies on the other to perform.


*****


In a Nutshell:

The global banking system is at the edge of the abyss, and we would have a massive global financial meltdown, if they were not trying to play games with the figures, and trying very hard to hide their massive losses the best way they can.

What this US$ 730 trillion dollars figure is telling me is that most of the derivatives is nothing more than a humongous “Ponzi Scheme” that can blow up at any time and start a massive chain reaction that can destroy the entire global financial system – it will be remembered as: the mother of all financial meltdowns.

During the great depression of the 1930's we had the stock market collapse of 1929, then in the following 3 years the stock market bounced back, then in 1932 started the real nasty decline that sunk the stock market and the US economy into the bottom of the abyss.

Today, we have reached that special 1932 turning point: the point where the stock market and the US economy it will sink like the Titanic.

What I am saying is: it does not matter who will be the next president of the United States, because we are entering the catastrophic phase of the new great depression similar to the period from 1932 to 1940.

We are going to have real rough years ahead of us. It's not going to be a pretty sight.

You can bet on that!!!!!!!

By the way, this new great depression that is underway, it will be a lot worse than the great depression of the 1930's.

You might be wondering why the US mainstream media has not been using the term “Great Depression” to described what has been going on in the economy of many countries all over Europe, and in the United States?

Only few years in the future they will look back to this period that we are going through, and then they will start calling this period the “First Great Depression of the 21st Century.”

My guess is that in 2012 we will have another massive global financial meltdown worse than the one we had in 2008.

We never had before so much government interference and manipulation on the financial markets the way that we have today, and it is hard to predict what would create the spark that would blow up the entire global financial system – but that could happen at any time.


XXXXX


Part 88


May 17, 2012

SouthAmerica: "Goldman Sachs the Pillage People" is getting ready to cash out and unload a large chunk of its holdings of Facebook stock.

Tomorrow is the day for the big “Heist” - the Facebook IPO.

"Goldman Sachs the Pillage People" will be laughing all the way to the bank, as the poor suckers who bought the Facebook stock will be crying all the way to the poor house.


XXXXX


Part 89


May 24, 2012

SouthAmerica: Here is more information about "Goldman Sachs the Pillage People" and their networks of thieves.

Capital Account – May 23, 2012

The US Treasury prize, Goldman Sachs Swindler, and the Euro's demise w/Paul Craig Roberts



XXXXX


Part 90


May 24, 2012

SouthAmerica:

Bloomberg News Special Report

Phantom Shares - "naked" short selling


The report is on "naked" short selling. It explains the phenomenon and is quite informative. Since my last post called into question the "spine" of many in the hedge fund industry, I figured I mine as well back up those accusations of market manipulation and distortion.

$6 Billion in trades fail each day or in other words 1% of all trades each day will fail (seller fails to deliver shares)


*****

Goldman Sachs Too Big For JAIL


Goldman Sachs Trial March 5th, 2012 in SF courthouse.

*****

WALL STREET NAKED TRUTH



XXXXX


Part 91


May 5, 2012

SouthAmerica: “Goldman Sachs the Pillage People” and naked short selling...

I remember this old TV commercial from the 1970's:

Smith Barney

Smith Barney makes money the old fashioned way... they earn it!

*****


I can see “Goldman Sachs the Pillage People” making a new version of this TV commercial today.

It is obvious what “Goldman Sachs the Pillage People” would say on such TV commercial – it would be based on the way that “Goldman Sachs the Pillage People” conduct its regular business: they screw their customers one customer at the time.

“Goldman Sachs the Pillage People”: We make a fast buck the old fashioned way...such as when there were no securities law and regulation... we screw one customer at the time!

“Goldman Sachs the Pillage People” is specialized in all kinds of Scams, Swindle, Fraud, naked short selling, overpriced IPO's, sub-prime garbage, and innovative ways to screw people at any time, and anywhere around the globe.

*****

Keiser Report: JP Morgan Put on Notice by SEC – May 24, 2012


Max talks to Teri Buhl about JP Morgan's Wells Notice and what bad news that could mean to the troubled bank's fortunes.

Max also talk about “Goldman Sachs the Pillage People” and its on going illegal practice regarding naked short selling...


*****

Bloomberg News

Goldman, Merrill E-Mails Show Naked Shorting, Filing Says

By Karen Gullo on May 16, 2012

Goldman Sachs Group Inc. and Merrill Lynch & Co. employees discussed helping naked short-sales by market-maker clients in e-mails the banks sought to keep secret, including one in which a Merrill official told another to ignore compliance rules, Overstock.com Inc. (OSTK) said in a court filing.

The online retailer accused Merrill, now part of Bank of America Corp., and Goldman Sachs of manipulating its stock from 2005 to 2007, causing its shares to fall. Clearing operations at the banks intentionally failed to locate and deliver borrowed shares for clients shorting stocks, including two traders who were fined and suspended from the industry, Overstock’s attorneys said in court filings earlier this year.


XXXXX


Part 92


May 30, 2012

SouthAmerica: The US banking system is in shambles in every way you look at these dinosaurs and dying crooks.

Capital Account – May 30, 2012
TV Exclusive Interview of CBO Mortgage Fraud Whistleblower!

Welcome to Capital Account. On today's show, we have a story you may have not heard before, from a person that you have definitely not heard from before. It's a story about America's financial crisis, its mortgage crisis, and the foreclosure fraud that enveloped the United States during the past decade. That person is Lan T. Pham, the famous CBO whistleblower who was fired from her job for telling the truth about systemic fraud and corruption in America's mortgage market and financial system.

In the past century, real estate law and transactions related to real estate and mortgage financing in the US have been subject to state regulations, with mortgage documents recorded at the county level. This worked relatively well in the traditional mortgage market that we had for most of America's history; the bank that issues the mortgages keeps the loan on its books until maturity. However, this made difficult, if not impossible, the type of financial engineering of mortgages that we saw during the securitization and refinancing credit boom of the past decade. This refers, of course, to the slicing and dicing, the repackaging and selling of homes into mortgage backed securities (MBS) and collateralized debt obligations (CDO'S) that underpinned the credit bubble of the 2000's that end with the financial crisis of 2008. The reason why traditional mortgage practices made securitization difficult is, in part, because every time a financial product containing mortgages was sold, various state laws would require that the sale of the mortgage be recorded in the local county office. This practice results in additional costs, paperwork, and perhaps most importantly, a trail in the chain of title.

Eager to work around these barriers, the financial industry created an alternative registration system for recording the issuance, sale and re-distribution of mortgages. This system, known as MERS (Mortgage Electronic Registration Systems), was founded in the mid-nineties with the help of some of the nation's largest banks, including JP Morgan Chase, Bank of America, Citigroup, Wells Fargo, as well as mortgage giants Fannie Mae and Freddie Mac.

MERS was created by the mortgage banking industry in order to streamline the mortgage process by using electronic commerce that eliminated paper. According to MERS, it was supposed to help reduce fraud and thus reduce costs for everyone, including borrowers. Ironically, or perhaps not so ironically, the system helped to do exactly the opposite. It effectively replaced the recording and tracking of mortgage ownership and paperwork at the county level with a privately controlled system for the tracking of tens of millions of mortgages.

Once MERS was instituted, lenders were still required to file initial paperwork at the county level, but with two key distinctions from how things were done in the past. First, the paperwork did not need to filed with the name of the lender. Instead, MERS could be substituted in place of mortgage issuers such as Bank of America or JP Morgan Chase. Second, and perhaps more importantly, any subsequent modification in terms or changes in ownership of the mortgage would only be recorded through MERS, making it a black-box for the securitization industry, and for the trillions of dollars in mortgages that would subsequently be rolled up, cut up, and sold off in complex financial products to pension funds and other unsuspecting investors. Trillions of dollars in credit protection written on these very mortgages added another layer of exposure to a financial system run amok.

By 2007, MERS registered some two-thirds of all the home loans in the US according to Harpers, and it was around this time that the financial system began to experience the credit convulsions that subsequently came to be known as "the financial crisis." This led to not only a a bailout of firms holding these toxic products, but it also lead to 180+ billion dollar bailout of AIG, the largest issuer of insurance protecting against the very products that were being pumped out like sausages on an assembly line. And, of course, let's not forget about the federal takeover of Fannie Mae and Freddie Mac, which the taxpayer is still footing the bill for 5 years later.

These are issues that Dr. Lan T. Pham, former Principal Analyst and Financial Economist at the Congressional Budget Office (CBO) was beginning to explore in her work there in 2010, before she was quickly fired. She joins us in a TV exclusive interview to tell her story, and to tell you why Americans should be asking some tough questions about who the CBO and Congress are REALLY serving...


XXXXX


Part 93


June 6, 2012

SouthAmerica: More info about "Goldman Sachs the Pillage People" and their network of thieves.

Capital Account – June 5, 2012

Nomi Prins on Banker's Gone Bad - MF'ers, BoA, and Spanish Bond Bashing


Welcome to Capital Account. MF Global's creditors could have more than three billion dollars in claims against the failed firm. That's according to the creditors' bankruptcy trustee -- former FBI director Louis Freeh. Guess who is NOT in the front of the line for the money according to Freeh's report? Customers. This is after a report came out yesterday from the trustee for the creditors, James Giddens. Lot's to unpack, and we have just the guest to help us do it, author and former Goldman Sachs managing director Nomi Prins.

G7 finance chiefs reportedly held a Eurozone crisis conference call today as Spain's treasury minister has up a flare: Help Us! The country is shut out of the bond market. The treasury minister and reportedly some of Spain's bankers want the EU to help recapitalize struggling banks. This is easy for them to say. A bank rescue for them comes on the backs of taxpayers. It comes on the backs of citizens. We'll ask if anything could turn this dynamic around.


XXXXX


Part 94


July 17, 2012

SouthAmerica: The revolution against "Goldman Sachs the Pillage People" is just starting in the United States......

The city of Oakland should get together with at least 100 other cities around the country that have the same interest rate problem with "Goldman Sachs the Pillage People" and work together to void all these contracts.

If "Goldman Sachs the Pillage People" has participated in any way in interest rate manipulation then all these contracts should be void, and all these cities should start a lawsuit against "Goldman Sachs the Pillage People" to recuperate the interest rate that they paid during that period.

Basically, you are an idiot if you still are doing business with "Goldman Sachs the Pillage People" and their network of thieves.

Democracy Now – July 9, 2012

"Oakland Seeks to Cut Goldman Sachs Ties After Bank Profits From Lowered Interest Rates”


DemocracyNow.org - The Oakland City Council has voted unanimously to end a contract with Goldman Sachs that locked it into a financial deal called an high interest rate swap. The city signed on with the bank in 1998 on the premise it would reduce costs of its bonds amid rising interest rates. But after the 2008 financial meltdown, the Federal Reserve cut interest rates to near zero. As a result, Goldman's rate dropped to 0.15 percent -- even as it continued to require Oakland to pay a rate of almost 6 percent.

The city council is calling on the city to refuse to do business with Goldman Sachs unless it ends the deal without requiring a $15 million payout. The vote comes after a long campaign by city workers, unions, the Occupy movement and local clergy members. "It's really been through direct action and public pressure that we've been able to build for this," says Alysabeth Alexander, Political Action Chair for SEIU Local 1021, who helped organize the Oakland community and present testimony to the council members. "This is actually the second swap that SEIU 1021 has taken on and we're going to continue to do this with our community partners and take on Wall Street. It's not right that in this fiscal crisis that they're profiting off of our local governments."

Amy Goodman


*****


"Oakland goes to financial war with Goldman Sachs” - July 13, 2012


In the past two weeks three cities in the state of California have filed for bankruptcy. San Bernardino, Mammoth Lakes and Stockton are the latest victims of the debt in the state, but Oakland is not going down without a fight. The city is threatening to break the deal made with big bank in 1998 because Goldman refuses to lower their interest rate which is costing the city $4 million per year. Dr Luz Calvo, an organizer for the Coalition to Stop Goldman Sachs, explains why she is fighting the bank.


XXXXX


Part 95


August 2, 2012

SouthAmerica: I am not surprised to what is happening to Facebook and Zynga stocks - and it is just a matter of time for "Goldman Sachs the Pillage People" also to join these stock debacles.

Keiser Report: Virtual Virtual Economy – July 31, 2012


In this episode, Max Keiser and Stacy Herbert discuss the virtual virtual economy getting hit by a dustbowl and there are no gully washers or toad stranglers on the horizon to bring reliefe; meanwhile out in the virtual real economy it's all the bath-salts and beer you can drink and scalps for sale in California as eminent domain falls into the hands of private bankers.

In the second half, Max interviews Teri Buhl about the possibility of San Bernardino county using eminent domain to seize mortgages from one set of rich private investors to give them to another set of rich private investors.


XXXXX


Part 96


August 2, 2012

SouthAmerica: "The Guillotine" is a better solution, than having dinosaurs eating the banksters alive.

Keiser Report: Capital Punishment for Crimes Against Capital – August 2, 2012


In this episode, Max Keiser and Stacy Herbert discuss crimes against capital, financial blockades and hoax Op-eds. They also suggest that Boris Johnson may be the illegitimate step nephew of Louis XV and how all your financial opinions come from a warped fortune cookie written by some guy that just dropped massive tabs of acid. And they discuss this while minding their Second Amendment right to bear a shoulder launch missile.

In the second half, Max interviews Birgitta Jonsdottir about the need to form Pirate Parties around the world to protect privacy, democracy and stop financial blockades of certain groups for their beliefs and campaigns.


*****


Retired Fraudster on the ABC's of Financial Fraud and why it's Easier than Ever! - August 2, 2012


*****


As I have mentioned a number of times before here on ET forums "The Guillotine" would come in handy here in the Old USA to fix the problem with the banksters and help clean up Wall Street.

Let's follow the example of the "French Revolution" when the bankers had a special place in front of the line as they waited their turn at the "The Guillotine"

Solution: how to fix the problem with the banksters and help clean up Wall Street


XXXXX


Part 97


August 8, 2012

SouthAmerica: Finally “Goldman Sachs the Pillage People” is doing the right thing – the company is making an investment thinking about the future welfare of its top executives.

Goldman Sachs invests in Prison Industrial Complex – August 7, 2012


It is a wonderful investment, because “Goldman Sachs the Pillage People” is thinking in advance about the future of its executives, and “Goldman Sachs the Pillage People” is investing in a secure place for them to stay on their long vacations.


*****

Modern Marvels: Guillotine


The guillotine that they used during the French Revolution still is in storage in France.

The French gave to the United States the “Statue of Liberty”, this time around the French can give the United States something more useful such as the guillotine in storage (GS) – the old guillotine would go a long way in helping to clean up the financial mess created by Wall Street.


XXXXX


Part 98


August 9, 2012

SouthAmerica: It is a matter of time for subversive and corrupt organizations such as JP Morgan and “Goldman Sachs the Pillage People” to go completely out of control and have a massive meltdown worse than the Lehman Brothers fiasco.

The US economy will be in better shape after a period of adjustments, following the collapse of manipulative and destructive financial institutions such as JP Morgan and “Goldman Sachs the Pillage People”.

Keiser Report: Semaphore of Fraud – August 9, 2012


In this episode, Max Keiser and Stacy Herbert discuss a financial journalist so dangerous the frontpage of the Financial Times dare not speak his name and the semaphore of fraud and fraud flows that is high frequency trading and silver manipulation. They also talk about blonde bimbo regulators and the self-police force that never finds any evidence crimes they themselves have committed.

In the second half of the show, Max Keiser talks to whistleblower Paul Moore, a former Head of Risk at HBOS, about financial holocaust and the City of London's role in enabling banking fraud.

*****


Capital Account – August 8, 2012

Dark Pools and High-Frequency Drone Wars w/Scott Patterson!


We will talk to Wall Street Journal writer, Scott Patterson, about how valuable the algorithms have become. But how much of the market's fluctuations are driven by algorithms and high frequency trading? We ask Scott Patterson, author of Dark Pools.


XXXXX


Part 99


August 13, 2012

SouthAmerica: Someone posted this picture on my Facebook webpage, but they forgot to identify the name of this corporation.

The corporation on this picture actually has a name: "Goldman Sachs the Pillage People" - the politicians and mainstream media buy all their crap - and the taxpayer end up eating a delicious meal provided by these scoundrels....


XXXXX


Part 100


August 13, 2012

SouthAmerica: When I found this video today on YouTube and started watching it I thought it was a training video for new employees at “Goldman Sachs the Pillage People”, anyway:

HOW TO BE A CROOK

Seminar about essential skills necessary for employees working for “Goldman Sachs the Pillage People”


XXXXX


Part 101


November 24, 2012

SouthAmerica: Toxic companies such as "Goldman Sachs the Pillage People" are going the way of Twinkies, Ho Ho's and Ding Dongs - OUT OF BUSINESS!

Keiser Report: Twinkies! Finance! Scandal! (3rd Anniversary Edition) – November 20, 2012


In this episode, Max Keiser and Stacy Herbert present a success story for the three year anniversary of the Keiser Report and that is that the banksters are going the way of Twinkies, Ho Ho's and Ding Dongs - OUT OF BUSINESS! And just as the junk food and fake bread of the Hostess products caused obesity and diabetes in Americans, so too did the junk bonds and toxic derivatives of the bankers and central bankers cause a flabby, obese and diabetic finance sector in London and New York.

In the second half, Max Keiser talks to Ross Ashcroft, writer and director of FOUR HORSEMEN, about why many people didn't see the financial crisis and what can be done to regain control of the financial system.

*****

"Four Horsemen" Directed by Ross Ashcroft-Cine Politics-03-11-2012



XXXXX


Part 102


December 10, 2012

SouthAmerica: When I saw the video about "Prison labor booms in US" - the first names that came to mind were Lloyd Blankfein, Jamie Dimon, Jon Corzine, Timothy Geithner, Hank Paulson, and so on...


Max Keiser: 2013, Year of The Great Crash – December 4, 2012

Alex speaks with economist, film-maker, and television show host Max Keiser about the impending fiscal cliff and the continued slow-motion implosion of world markets.

*****

Gerald Celente: The 21st Century Megawar Has Begun – December 6, 2012


Alex welcomes American economic trend forecaster and publisher of the Trends Journal Gerald Celente to discuss what steps should be taken in response to an imminent so-called fiscal cliff.

*****

Post US election economic update – December 8, 2012


In this edition of the show Max interviews Greg Hunter from usawatchdog.com. He talks about the post US election economic statistics including the latest jobs and manufacturing numbers. Greg is the producer and creator of Greg Hunter's USAWatchdog.com. The site's slogan is "analyzing the news to give you a clear picture of what's really going on." The site will keep an eye on the government, your financial interests and cut through the media spin.

*****

Here is a booming area for jobs in the United States economy, and I am sure the US government can accommodate the banksters and finally help them to find a job that is suitable to them at:

Prison labor booms in US as low-cost inmates bring billions – December 9, 2012


US breeds a Chinese-style inmate labor scheme on its own soil. Both state and some of the biggest private companies are now enjoying the fruits of a cheap and readily available work force, with tens of millions of dollars spent by private prisons to keep their jails full.


************************************XXXXXXXXXXXXXXX********************************



Here are some of my postings about “Goldman Sachs the Pillage People” from Brazzil magazine:

Brazzil magazine – November 2012

Comments section:

This nasty cancer is also spreading into Brazil
written by Ricardo C. Amaral, November 30, 2012

Ricardo: There's a vicious and virulent cancer that is destroying the economic system of many countries around the world, and today that nasty cancer is also spreading into Brazil.

If Brazilians don't get rid of this nasty cancer, eventually this virulent cancer will destroy the Brazilian economy as it has been doing on everything that this cancer touches.

November 29, 2012

SouthAmerica: This video is about a cancer epidemic that is destroying the United States, Europe, and this nasty cancer is also spreading into Brazil.

This cancer epidemic is going to destroy the entire world.


The Big Picture – November 28, 2012

Is Goldman Sachs Licking their Chops at Global Takeover?

http://youtu.be/dZJSnO7WEX8


As economies across the globe all into turmoil - and millions struggle to survive - the banksters at Goldman Sachs are licking their chops. I'll explain how the Wall Street giant may be taking over the planet.


XXXXX


Reply to Joao da Silva
written by Ricardo C. Amaral, December 02, 2012

Ricardo: Joao, did you read? the article published by the Financial Times about the Brazilian economy that I posted at:

Central Banks and the US Dollar
http://www.elitetrader.com/vb/...number=109


*****


On Saturday December 1, 2012 the Financial Times (UK) had a front page article "Brazil's hopes of return to high growth hit as economy shows signs of stalling"

Then they quoted an economist from "Goldman Sachs the Pillage People" regarding what he thinks is wrong with the Brazilian economy.

These guys are complaining that Brazilian policy is making hard for the "Hot Money" to go to Brazil and make a fast buck.

Everything is falling apart Euroland, the Asian economies slow down, the US economy still is in a coma and Wall Street and the financial system needs the massive market intervention, games that the Fed has been playing with its QE....programs and money printing from thin air.

Ben Bernanke and the Fed are destroying the long term health of its insurance companies with this policy of keeping interest rates artificially low close to zero percent - and they are destroying the personal net worth of senior citizens, since interest rates are so low that many seniors are living out of their principal and many senior citizens are afraid that they are going to run out of resources before they die.

There is so much crap going on here in the United States, and also in Europe than ever before - and these guys have the balls to criticize Guido Mantega - the one person who is fighting against the non-sense coming out of the US Federal Reserve and also from the European Central Bank.

If anything Brazil should avoid doing any type of business with "Goldman Sachs the Pillage People" and their network of thieves.

Today, "Goldman Sachs the Pillage People" and their network of thieves, control Greece, Italy, the European Central Bank, the US Federal Reserve and Treasury, and their latest conquest is the Bank of England.

It seems to me that the "Goldman Sachs the Pillage People" Mafia family and their network of thieves are trying to take over the world one country at the time.

And you can bet that these crooks also want to set Brazil for a fall for them to pillage everything in sight in Brazil.

You have to be a JACKASS and an idiot to do any type of business with these crooks.


XXXXX





Regarding Brazil and the Brazilian Economy in 2013
written by Ricardo C. Amaral, January 03, 2013


President Dilma Rousseff should keep Guido Mantega as the Finance Minister in Brazil, and she should ignore “The Economist” magazine suggestion.

“The Economist” magazine suggested recently that President Dilma Rousseff should fire the Brazilian Finance Minister Guido Mantega.

President Rousseff should ignore this silly suggestion from “The Economist”, and take it with a grain of salt considering the source of such a suggestion.

Guido Mantega has been guiding the Brazilian economy the best way he can considering the massive mess that we have in Euroland, and also in the United States that affects the Brazilian economy.

Guido Mantega has been doing a superb job in putting in place the policies to protect the Brazilian economy, and place it in a path for prosperity in the coming years.

Finance Minister Guido Mantega should: Keep up the good work!!!!!

I understand that this attack by “The Economist” it is part of the “Currency Wars” that is going on - “The Economist” should concentrate and continue to give their precious advice to a bankrupt England and “The Bank of England’s” new boss Mark Carney; another gang member of “Goldman Sachs the Pillage People” and their network of thieves.

“The Economist”, and also the “Financial Times (UK)” doesn't like the interest rate, and currency policies that Finance Minister Guido Mantega, and the Brazilian Central Bank are following in Brazil, because they want Brazil to offer higher interest rates for the “Hot Money” - since Ben Bernanke (and the Federal Reserve) is keeping a very low artificial interest rate in the United States in a major effort to resuscitate the U.S. financial and economic system.

The “Currency Wars” is going to move to a new level in 2013 as the European Central Bank, the U.S. Federal Reserve, the Central Bank of China, the Japanese Central Bank, and the Bank of England under their new “Godfather” Mark Carney continue their race to the bottom.

Finance Minister Guido Mantega, and the Brazilian Central Bank should keep adjusting the interest rates in Brazil accordingly to the “Currency Wars”, and as the markets deteriorate in Europe and in the United States, they should continue to reduce further the interest rates in Brazil (Selic rate) to a level around 5 percent.

Many people asked me if the year 2013 will be a rough year for the Brazilian economy as it continues to adjust the internal market to achieve a sound economic and financial system for the long term.

I remind my friends that even though 2013 it will be a very tough year for the Brazilian economy – they should look at from the correct perspective: when compared with the massive mess in Euroland, and the US economy, and the adjustments in the Asian economies – the Brazilian economy it will do better than these other competitors.

There's an important adjustment that Finance Minister Guido Mantega still need to implement in Brazil to raise income for the Brazilian government, and also to bring a better foundation to the stock market in Brazil: Finance Minister Guido Mantega need to create and adopt a financial transactions tax (FTT) to kill high frequency trading (HFT) in Brazil, and the distortion, the market instability, and the pillage of assets that (HFT) brings to the stock market.


XXXXX




Wall Street Institutions such as "Goldman Sachs the Pillage People" - they are worse than the MAFIA...
written by Ricardo C. Amaral, October 04, 2012

I have mentioned a number of times over the years here on Brazzil magazine: That if any Brazilian company or any government at any level that still is doing any business with companies such as "Goldman Sachs the Pillage People" - then you are doing business with the mafia, and if they screw your company or your local government in any way, you deserve it, because you are an idiot and a "Jackass" if you still are doing business with this predatory mafia organization.

Companies such as "Goldman Sachs the Pillage People" makes its money by pillaging and screwing pathetic people like you who are not smart enough to realize that Bernie Madoff is considered to be an amateur when compared with the gangsters who work for "Goldman Sachs the Pillage People" and its network of thieves.

I just posted the following at the Elite Trader Economics forum:

The Crumbling of America
http://www.elitetrader.com/vb/...enumber=25

October 4, 2012

SouthAmerica: For many years now, I have been writing on a regular basis on my articles on Brazzil magazine and other publications, and also on my postings on the Elite Trader Economics forum, on Brazzil magazine comment section, on Facebook, and so on...about how Wall Street has been looting, pillaging, destroying the foundations of the US economic and financial system, and milking the entire system to the bone until just the carcass of the US economic and financial system is left to rot and decompose.

And at the same time completely pulverize and destroy what is left of the US dollar and its illusory idea that it is backed by the "full faith and credit of the United States." By that time Wall Street would also have milked to the bone all the US government resources.

The Wall Street “too big to fail” financial institutions are setting up the entire US economic and financial system for a total collapse and quick demise just like the Soviet Union.

On this video Dr. Michael Hudson describes how corrupt, and rotten the US financial system has become in the United States from the Wall Street “too big to fail” gangsters, to the Treasury, to a moronic Federal Reserve, and so on...– it is like a cancer that is quickly killing the patient.

There's a very good reason to vote for Mitt Romney in the current presidential race – if he wins he will speedy up the final collapse of the US economic and financial system into a black hole – and take the US economic and financial system out of its misery with a quick death in a massive meltdown just like the Soviet Union.

These gangsters of Wall Street are looting everything in sight, and they are going to leave nothing behind in the United States, just a collapsed economic and financial system for the next generation of Americans.

Keiser Report: Cadavers Collateralized Debt – October 4, 2012
http://youtu.be/OqN5GGYXNF0

In this episode, Max Keiser and Stacy Herbert bring a bankster rat onto set to discuss the civil suit against JP Morgan's mortgage fraud. We revisit episode 97 of the Keiser Report on which journalist Teri Buhl had first warned you about the residential mortgage back security fraud issue on JP Morgan's balance sheet - thanks to their purchase of Bear Stearns.

In the second half of the show, Max Keiser talks to Dr. Michael Hudson, author of The Bubble and Beyond: Fictitious Capital, Debt Deflation and Global Crisis, about Timothy Geithner's role in facilitating the takeover of the banking system by the Wall Street mafia and about the oligarchic counter revolution against democracy in Europe.


XXXXX


September 2011

Ricardo: I need to remind the Brazilian people over and over again until the honest members of the Brazilian Congress and the Brazilian mainstream media start grasping this very important point of what is at the core of the pillaging of other people's assets that is going on around the world.

The only way Wall Street banksters know how to make money today, is by creating massive scams and by pillaging the assets of people from around the world – they are bottom feeders, parasites and a cancer to the world international economic and financial systems.

For example:

Here is how “Goldman Sachs the Pillage People” rank among their peers:

1) “Goldman Sachs the Pillage People”

2) Lucchese

3) Bonanno

4) Gambino

5) Colombo

6) Genovese


Brazil will be a very easy prey for these world-class scoundrels, because Brazilians would be impressed by the members of the "Goldman Sachs the Pillage People" and their network of thieves.

These scoundrels are a very special type of gangster, and they belong to the most successful, sophisticated, polished, and influential mafia family in the United States, and most of these gangsters hold advanced degrees from the best universities, and they are well groomed and slick dressers who wear fashionable clothing to impress their prey.

President Dilma Rousseff needs to go one step further regarding her efforts in trying to drain the swamp in Brazil – she needs to put all Brazilian government agencies on alert and they should go after the criminals from Wall Street such as the "Goldman Sachs the Pillage People" and their network of thieves, because the members of this Mafia family are in Brazil only to cause all kinds of trouble and set up new scams and pillage the entire system of any assets.

Keep in mind that behind of the mask, all you will find it is a glorified bunch of thieves and nothing else.


*****

Keiser Report: U. S. Banking Fraud - August 23, 2011




XXXXXXXXXXXXXXXXXXXX


A Elite Trader Story


*****


Author and Columnist: Ricardo C. Amaral

He can be reached at:



************************



"Goldman Sachs the Pillage People" and their network of thieves is becoming the gold model for mafias families around the world.


Japan's yakuza mobsters are becoming “Goldman Sachs with guns”

Keiser Report: Banker Bego-crats – December 5, 2013

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the need for powers to stop the aggressive banker bego-crats constantly shaking down those passing the City. They look at 'Goldman Sachs with guns' in Japan and the shakedown unit at RBS and their threatening messages demanding money from small businesses.


***


France24.com

Headline news in Japan


Japan's yakuza mobsters are becoming “Goldman Sachs with guns” - experts say the yakuza is branching far outside their traditional business into everything from insider trading to funding business startups. “Insider trading has become huge...you can make much more money manipulating stocks” than extorting businesses, says Jake Adelstein, a crime writer whose bestselling memoir “Tokyo Vice” is set to become a Hollywood movie in 2014.


***


From the only American journalist ever to have been admitted to the insular Tokyo Metropolitan Police press club: a unique, firsthand, revelatory look at Japanese culture from the underbelly up.

At nineteen, Jake Adelstein went to Japan in search of peace and tranquility. What he got was a life of crime . . . crime reporting, that is, at the prestigious Yomiuri Shinbun. For twelve years of eighty-hour workweeks, he covered the seedy side of Japan, where extortion, murder, human trafficking, and corruption are as familiar as ramen noodles and sake. But when his final scoop brought him face to face with Japan’s most infamous yakuza boss—and the threat of death for him and his family—Adelstein decided to step down . . . momentarily. Then, he fought back.

In Tokyo Vice, Adelstein tells the riveting, often humorous tale of his journey from an inexperienced cub reporter—who made rookie mistakes like getting into a martial-arts battle with a senior editor—to a daring, investigative journalist with a price on his head. With its vivid, visceral descriptions of crime in Japan and an exploration of the world of modern-day yakuza that even few Japanese ever see, Tokyo Vice is a fascination, and an education, from first to last – on this book he said: 'Japan's yakuza mobsters are becoming “Goldman Sachs with guns”...'


.