Comments on: Goldman’s troubles will end when Blankfein goes Thu, 21 Jul 2016 07:57:19 +0000 hourly 1 By: LLMCH Tue, 20 Jul 2010 05:51:12 +0000 That’s right ppl. Financial firms fleeced you and and took all that hard earned money you ‘invested’ in that big second house you can’t afford. They conned you into spending on all those credit cards you didn’t wanted to use to buy that big home theater system that you didn’t really need.

Go on… blame them. It’ll make you feel better.

By: HBC Sat, 17 Jul 2010 12:00:02 +0000 Goldman’s troubles haven’t even begun. When every last one of the parasites who ever worked there has relinquished all worldly goods, maybe it’ll be over.

But only maybe.

By: nbywardslog Sat, 17 Jul 2010 07:02:03 +0000 Even after the SEC let-off, Goldman still face a number of class actions around the world. The ‘incomplete marketing material’ line isn’t going to wash when it comes to helping Greece hide debt.
I’m a capitalist who thinks there are too many people and not enough water on the planet. For me, the G20 hairies ruin the case for looking after our ecosphere better. And Goldman Sachs ruins the case for capitalism.
If you break down GS’s business profit lines, it’s now roughly 15% client fees and 85% direct/indirect investment gains. That’s a moral hazard wrapped in a conflict of interest, pure and simple.
Fascinating to note, by the way, the former occupation of the SEC’s head of prosecution… man-sachs-its-business-as-usual.html

By: 123321A Fri, 16 Jul 2010 21:20:36 +0000 where is my comment?

By: 123321A Fri, 16 Jul 2010 21:20:20 +0000 sd

By: RandomName2 Fri, 16 Jul 2010 17:51:40 +0000 Perfect quote DipuKurian.
America is screaming out for another Andrew Jackson.
Ron Paul is the only one that comes close.
I nearly busted a gut on this line…

“The settlement marks the beginning of the end of Goldman’s public humiliation for its relatively small part in the subprime debacle”.

Goldman has its tentacles throughout the Government and the Federal Reserve. They were just busted for Fraud and got off with a slap on the wrist without admitting any wrong doing. Does anyone believe that it was an isolated incident?
I’m guessing the reason they didn’t any admit wrong doing is because that’s how they do business.
The government and the Fed don’t sneeze without Goldmans approval. I’m guessing every financial bill that has passed congress in the last 20 years would have to have Goldmans approval. Who knows how many originated from them.
To say they have a relatively small part in the subprime debacle…funny funny stuff.

By: Benny_Acosta Fri, 16 Jul 2010 17:46:37 +0000 No matter who’s at the helm, there will be no change in the behavior of the company unless there is a change in the way the individuals who make up that company relate to the rest of society.

We are all interdependent. It is useless to look to government or the “free markets” to solve anything. It will never happen. It’s only when we as individuals become aware of our interdependence, and act upon that awareness, that things will change for the better.
If our global situation really matters to you, then please take a minute to check out the link below. 60&feature=channel

By: my_opinion Fri, 16 Jul 2010 16:56:19 +0000 Focus on what matters now, fix things in the right order…

Everyone must call on Obama to act on his words: stop the wars and act on his foreign policy promises.

Bring our troops back before November election. We can’t sell democracy by means of wars. We need only to pinpoint our offensive to 9/11 culprits.

It is immoral to waste our taxes and troops to do foreign governments’ tasks. Stop it immediately; we’ll get new allies as fast as we stop the wars (with deep pockets with huge demand for “American made” goods, industry and services). High paying jobs will return immediately and real estate issues will vanish.

Obama knows what he must do, he needs to be reminded that we are still waiting for him to act, and November is the deadline. Obama’s cabinet and advisors must calm down and act rationally (we are still a super power and can always get into wars, we must use our brain now).

By: jo5319 Fri, 16 Jul 2010 16:54:17 +0000 Additionally, Congress must pass legislation to allow recoupment from unethical crooks like Paulson who still think of himself as smart. A guy such as Paulson took his loot scotch free and is ready to pound on the next opportunity JUST BEFORE it becomes illegal. If we keep reinforcing the idea that these guys did “nothing wrong”, another scam is going to happen. It was disturbing that Khuzami’s comments that Paulson “did not misrepresent” (to Goldman, that is), along with Warren Buffet’s defense for “smart investors”, has many still believing that Paulson did nothing “illegal”. The laws can’t and shouldn’t always be playing “catch up”, one step behind in calling the obvious— that the crooks’ actions are unethical and illegal.

There’s got to be a way to enact a law that says something like:
If evidence shows that this person deliberately commit an ethical act to deceive investors for huge financial gains, but carefully studied the law so as to be able to argue that it is “legal”, he will be judged as acting “illegally”.

That’s not yet in the financial reform bill, I believe.

By: JackMack Fri, 16 Jul 2010 16:44:03 +0000 I’ll say it here too: suppose I were a con man, and suppose I were arrested after swindling 10 people each out of $10,000. I have in my hands $100,000 in ill-gotten gains.

Now suppose I made a deal that I would pay a fine of $5,000, with $2,000 going to my victims and $3,000 to the court. How likely is it that I would go forth and swindle no more?

Quibble with my numbers all you want – the point is simple: until fraud is made illegal, the American economy has absolutely no hope of recovery.