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Genesis Posts: 71432 Incept: 2007-06-26 
KD^2 
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http://market-ticker.org/archives/1235-O....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-07-20 07:21:52
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Coolhandluke Posts: 5637 Incept: 2007-12-19 
Out of the box
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At what point are the "The People" going to file suit against Goldman Sachs? And win? They are now talking about buying the US Treasury when in fact they should have gone BK and their executives serving jail time IMO. Don't trade this market, just write a check payable to Goldman Sucks and be done with it. ---------- It's not that I'm lazy, I just don't give a **** anymore.
2009-07-20 07:30:30
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Arkroyal Posts: 87 Incept: 2009-02-04 St. Augustine, FL
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Know your enemy - Goldman Sachs Board of Directors: http://www2.goldmansachs.com/our-firm/ab....
2009-07-20 07:54:51
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Seedyrum Posts: 267 Incept: 2009-04-09
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You nailed that!! GS did not earn that money since they got "backdoor" money from AIG who was BROKE until taxpayers money came to the rescue> GS "profits" are essentially taxpayers money but noone wants to call it like it is but you a very few others> AMAZING Amazing still that these banks think they can get the market back to where it was before the crash to get their "price" on their toxic assets> Even if the market get back to those numbers who would buy those assets at any price given the public knows those assets arent AAA rated given the fraud of the ratings agencies> The market spoken when Merrill Lynch got about twenty two cents on dollar some of their toxic assets but of course the other banks didnt like those numbers so they used creative accounting for their toxic assets> What trading is GS doing when the volume is down so much and these banks are trading between themselves without the retail investors in the "game"?? What trades are GS making?? who is losing money for GS to make so much profit as they call it without the backdoor of AIG bailout?
2009-07-20 08:17:36
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Icanhasbailout Posts: 2170 Incept: 2009-03-10
Imaginationland Online
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Is there some way to calculate the sum total that GS got from the taxpayer either directly through some Fed/Treasury program, or indirectly a la AIG?
---------- I can has TARP? http://icanhastarp.com
2009-07-20 08:39:31
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Yesandnotyes Posts: 1 Incept: 2009-03-15 Macon, GA
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I thought a liberal newspaper would hate the thought of a company making a profit, but I guess they love the idea of stealing from taxpayers even more!
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2009-07-20 08:43:53 by yesandnotyes
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Statusquojoe Posts: 2397 Incept: 2008-11-20
Land of the fees Home of the slaves.
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Quote:They are now talking about buying the US Treasury when in fact they should have gone BK and their executives serving jail time IMO. I heard that rumor as well. Quote:In what some on Wall Street are calling the biggest blockbuster deal in the history of the financial sector, Goldman Sachs confirmed today that it was in talks to acquire the U.S. Department of the Treasury. http://www.businessinsider.com/goldman-s.... ---------- "In short, you are the definition of moral hazard." Senator Bunning to Bernanke
2009-07-20 09:25:36
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Keewaydin Posts: 1547 Incept: 2007-08-22
Just a fleshwound!
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Anyone see Taibbi's take on Goldman's profits: http://trueslant.com/matttaibbi/2009/07/.... It's well worth a read. Excerpt Quote:So what’s wrong with Goldman posting $3.44 billion in second-quarter profits, what’s wrong with the company so far earmarking $11.4 billion in compensation for its employees? What’s wrong is that this is not free-market earnings but an almost pure state subsidy.
2009-07-20 14:48:16
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Jubber Posts: 4242 Incept: 2007-07-05 
UK Online
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Unreal, it takes a Journalist from Rolling Stone magazine for ****s sake to shake the Financial media up, great article, good to see him come back at those xxxxxx filth
---------- "War is God's way of teaching Americans geography." Ambrose Bierce "The Emperor realized that the people were right but could not admit to that. He though it better to continue the procession under the illusion that anyone who couldn't see his clothes was either stupid or incompetent." Hans Christia Last modified:
2009-07-20 15:01:17 by jubber
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Lostinspace Posts: 52 Incept: 2009-05-06
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I couldn't be more disgusted with GS. What is their scam with CIT? We know they didn't help CIT out of kindness. Everyone sells their CIT stocks and bonds figuring CIT is filing bankruptcy, then GS buys it up and gives CIT $3 billion. They should all go to prison. Everyone of them. Before that, the taxpayers should get their money back from the games GS has been playing for far to long. Bonuses should be illegal. And to think I voted for Obama. I need my head examined.
2009-07-20 16:28:12
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Impetunomics Posts: 421 Incept: 2009-04-08 Houston, TX
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LOL that reference to GS buying the US Treasury was simply a satire piece.
---------- At best.
2009-07-20 16:37:49
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Phantomace Posts: 2184 Incept: 2009-03-16
Las Vegas, NV, and your screen Online
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Quote:"And to think I voted for Obama. I need my head examined." Lostinspace: Yeah, you and about 55% of the rest of the country. Some of us tried to warn you... Oh well, at least you realize now, so let's fix as much of this BS as we can in 2010 (CONgress) and then the maObama mistake afterwards, 'kay? 
---------- "That was a little trick I call math. Oops, now I'm not emotionally invested..." - Dilbert The only good thing I have to say about Barney Frank is at least he's not breeding...
2009-07-20 16:38:57
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Statusquojoe Posts: 2397 Incept: 2008-11-20
Land of the fees Home of the slaves.
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Impetunomics, my efforts towards sarcasm are missing mark on multiple threads :(
---------- "In short, you are the definition of moral hazard." Senator Bunning to Bernanke
2009-07-20 17:48:15
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Phantomace Posts: 2184 Incept: 2009-03-16
Las Vegas, NV, and your screen Online
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Statusquojoe: Just put a "sarc" flag at the end of your posts... (sarc) ---------- "That was a little trick I call math. Oops, now I'm not emotionally invested..." - Dilbert The only good thing I have to say about Barney Frank is at least he's not breeding...
2009-07-20 17:59:35
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Wcf Posts: 20 Incept: 2008-12-09 Los Angeles Online
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The French MS financial media is getting it, one title this morning (see French text link below): "American Banks, the heist of the century." They are refering to GS and JPM. Oddly enough there is no mention of Socgen and others Europeans who recently reported profit under the same heist. Ironic do you think? They mention the $13B transfer from AIG to GS, and Paulson ties. http://blogs.lesechos.fr/article.php?id_....
2009-07-20 18:19:01
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Quik49 Posts: 2297 Incept: 2007-12-11
out yonderway
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Sending this to my reps and I want an answer to what the hell they plan on doing about it.
---------- Potter's not selling, he's buying;
2009-07-20 19:53:16
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Schwantz Posts: 5077 Incept: 2007-11-12
Monkey Do
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Karl (and anyone else who wants to help) I just had THIS VERY DISCUSSION (sightly heated) this Saturday night with a physics PhD friend of mine who is now working in insurance but has 3 other close friends (the 'smartest' guys in his class (physics!?) at the best university in the country) who went to work for Goldman. From what I know, these other guys were all studying string theory, which, the way I see it, is in demand at GS because they can link it to their surging dominance in proprietary program trading. In other words it gives their billion dollar clients comfort to know that they have a whole bunch of smartie-pants making sure that 'nothing bad will happen'. What I'm specifically looking for is information showing that Goldman was truly at risk during the thick of the credit collapse. I remember seeing info at the time that their VAR and off-balance levels were way beyond the rest of the pack, but it seems that the suspension of mark to market by FASB changed all of that scrutiny suddenly. Now I see the FASB trying to come back at GS in particular with new rules for off-balance accounting (lost the battle on m2m, start a new front) http://www.cfo.com/article.cfm/14066212/.... Donaldson and Levitt are supporting them but also holding them back by the leash (don't ever trust these ****ers, they truly know how to work both sides). I desperately want to see Goldman's underwear exposed. I HATE this 'smarter than anyone else' crap that they always pull. It's utter garbage, and to be quite honest the organization reminds me of mafia, again and again, more than anything else. To be quite frank, I hate them because they are giving 'smart' people a bad name with regular folks, and that is extremely dangerous. So I want to find info that shows that GS was close to collapse when LEH and AIG went down, closer at least than JPM and MS (who I think would ALL have collapsed, if things had their proper way). Do you (or anyone else) remember anything specific that you posted? A ticker or anything else you read at the time? I can't seem to find anything anymore. ---------- Dives sum, si non reddo eis quibus debeo Smash the Keynesian idiocracy!
2009-07-20 21:51:40
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Statusquojoe Posts: 2397 Incept: 2008-11-20
Land of the fees Home of the slaves.
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Phantomace, thanks for the tip, I will give it a shot. Schwantz, that makes sense 11 other dimensions that we cannot measure nor quantify, that explains the black hole of TARP! They must be fooling around with Chaos theory as well since that is where we seem to be headed.... ---------- "In short, you are the definition of moral hazard." Senator Bunning to Bernanke
2009-07-20 23:50:39
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