SEC Files Fraud Charges Against Goldman Sachs

#26
#26
All this is is a smokescreen to pass the garbage regulatory bill.

Nothing more, nothing less. And it's a damn shame.
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#27
#27
BigPapaVol said:
Pretending that GS clients had no idea that GS and other clients were betting the opposite direction.

I know one of the largest investors in ACA and they damn well know. This whole thing is trash.
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i saw this exact crap come through my office and the obvious question that came through my mind was "if they don't want it, why do i?" If i can figure out enough not to buy this crap why shouldn't people who manage 100 times the money i do figure it out? If you want to put someone in jail you should put the idiots that bought it. Goldman disclosed that it could be garbage.
 
#28
#28
droski said:
i saw this exact crap come through my office and the obvious question that came through my mind was "if they don't want it, why do i?" If i can figure out enough not to buy this crap why shouldn't people who manage 100 times the money i do figure it out? If you want to put someone in jail you should put the idiots that bought it. Goldman disclosed that it could be garbage.
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Velo sounds like he has no idea that the assets are vetted and rated by a third party, then the CDO sold off in tranches by grade all the way down to an equity rating. It surprises me that he would have no idea, but he is good at spouting selective details from a reporter's story.
 
#29
#29
exactly. if you want to put someone in jail you might want to look at the rating agencies who basically took the underwriters word on what these bonds should be rated.
 
#30
#30
BigPapaVol said:
Velo sounds like he has no idea that the assets are vetted and rated by a third party, then the CDO sold off in tranches by grade all the way down to an equity rating. It surprises me that he would have no idea, but he is good at spouting selective details from a reporter's story.
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Tell us what value these sham ratings provided investors.
 
#33
#33
Velo Vol said:
Tell us what value these sham ratings provided investors.
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I'm not the idiots believing them. Ask them.

What it does say is that Paulson / GS knew a third party would be reviewing the portfolio and even insuring the investment grade paper. Your silly conspiracy story seems to neglect that the insurer puts risk capital into its rating.
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#35
#35
BigPapaVol said:
I'm not the idiots believing them. Ask them.

What it does say is that Paulson / GS knew a third party would be reviewing the portfolio and even insuring the investment grade paper. Your silly conspiracy story seems to neglect that the insurer puts risk capital into its rating.
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i just listened to paulson's call. he said the demand was so strong for this crap and they all thought he was an idiot for shorting this. in other words he says if they disclosed directly that he was shorting this stuff it still would have gotten sold.
 
#36
#36
looking more and more like this is 100% political:

http://www.djnewsplus.com/nae/al?rnd=bYHaTDNSXjSTeeQ8giQ9VA==

After the suit was announced, Organizing for
America, a spin-off group from President Barack Obama's campaign, sent millions
of supporters an email message from the president urging "support for 'Wall
Street Reform.'" In addition, the Democratic National Committee purchased
advertising that would appear whenever a Google user searched for the phrase
"Goldman Sachs SEC." The ad read: "Help Pres. Obama Reform Wall Street and
Create Jobs. Families First!" according to the letter.
 
#37
#37
droski said:
looking more and more like this is 100% political:

http://www.djnewsplus.com/nae/al?rnd=bYHaTDNSXjSTeeQ8giQ9VA==

After the suit was announced, Organizing for
America, a spin-off group from President Barack Obama's campaign, sent millions
of supporters an email message from the president urging "support for 'Wall
Street Reform.'" In addition, the Democratic National Committee purchased
advertising that would appear whenever a Google user searched for the phrase
"Goldman Sachs SEC." The ad read: "Help Pres. Obama Reform Wall Street and
Create Jobs. Families First!" according to the letter.
Click to expand...

No way.
 
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