Senate targets Goldman Sachs

#2
#2
goldman unquestionably is filled with a bunch of slimeballs, but they didn't do anything even remotely criminal. i've never understood why goldman apparently has the duty to inform institutional/professional investors that what they are buying sucks. these people do this for a living. isn't it their fault they bought this garbage?
 
#3
#3
droski said:
goldman unquestionably is filled with a bunch of slimeballs, but they didn't do anything even remotely criminal. i've never understood why goldman apparently has the duty to inform institutional/professional investors that what they are buying sucks. these people do this for a living. isn't it their fault they bought this garbage?
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I could not agree more.

I am also disgusted with people that say they were misled on mortgages. Maybe, just maybe, it might be prudent to not only read every line of a contract involving hundreds of thousands of dollars, but it might even be prudent to spend an extra $200 and take the contract to a lawyer.
 
#4
#4
every mortgage application shows what the maximum morgage payment will be in the worst case situation. you don't have to hire a lawyer. just read the damn document.
 
#7
#7
Does his investigation include dealings between WS and key Congressional members? Prolly not.
 
#8
#8
Is this the company whose employees signed foreclosures without reading/researching them?
 
#9
#9
I've only bought one house but I actually had a copy of most of the docs before hand and read all of them. I had all my questions answered before we got there and still took time to make sure they were the same. I knew what my payments would be and it was pretty easy to see whether it was affordable or not. Now if someone got false docs or was not given all the info then I can understand where it's not completely their fault. Outside of that then it's just another bad decision
 
#12
#12
VOLatile said:
Is this the company whose employees signed foreclosures without reading/researching them?
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no. goldman has no mortgage servicing division.

and btw there hasn't been a single example of a home being inproperly foreclosed on.
 
#13
#13
utvolpj said:
Now if someone got false docs or was not given all the info then I can understand where it's not completely their fault.
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i've yet to have seen an example of this happening. by law every mortgage company has to provide this information in the documents you sign. i suppose some servicer might have encouraged them to not read the documents though.
 
#15
#15
droski said:
i've yet to have seen an example of this happening. by law every mortgage company has to provide this information in the documents you sign. i suppose some servicer might have encouraged them to not read the documents though.
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I remember some claiming they were not shown the proper docs but don't remember anything coming of it.
 
#16
#16
We should all feel sorry for these guys, they just can't get a fair break. :rolleyes:


To date, nobody has really been held accountable. I would like to see Frank, Dodd, Fannie and Freddie put on the chopping block, but this is as good a place as any to start.
 
#17
#17
droski said:
no. goldman has no mortgage servicing division.

and btw there hasn't been a single example of a home being inproperly foreclosed on.
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Thanks. I only heard something in passing on NPR yesterday and I thought Goldman was mentioned, but couldn't remember. They did mention that there was no proof of any improper foreclosures.
 
#18
#18
VOLatile said:
Thanks. I only heard something in passing on NPR yesterday and I thought Goldman was mentioned, but couldn't remember. They did mention that there was no proof of any improper foreclosures.
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they hold and trade "mortgage backed securitites"

but they do not service the individual mortgages inside of those MBS

for example: freddie mac owns a MBS with my mortgage inside of that MBS, but citigroup is the one servicing my mortgage
 
#19
#19
VolsNSkinsFan said:
they hold and trade "mortgage backed securitites"

but they do not service the individual mortgages inside of those MBS

for example: freddie mac owns a MBS with my mortgage inside of that MBS, but citigroup is the one servicing my mortgage
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Now that you mention it, I believe it was Citigroup they were talking about who signed foreclosures without checking them.
 
#21
#21
droski said:
goldman unquestionably is filled with a bunch of slimeballs, but they didn't do anything even remotely criminal. i've never understood why goldman apparently has the duty to inform institutional/professional investors that what they are buying sucks. these people do this for a living. isn't it their fault they bought this garbage?
Click to expand...

Are you kidding me?

"The bezzle" is always discovered when things go crash. Except this time, we decided not to look. Well, except Madoff.

The entire "securitization" (sic) racket is hogwash from the start. It will be great if more judges decide, "No, you can't reposses that house" because no one can conclusive prove who owns what!
 
#22
#22
how many former Goldman Sachs execs found jobs in the Obama administration
 
#23
#23
MG1968 said:
how many former Goldman Sachs execs found jobs in the Obama administration
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I can tell you who to start with looking for "the bezzle" at GS - Robert Rubin. He will squeal like an Arkansas pig if you lean on him.
 
#24
#24
utgibbs said:
Are you kidding me?

"The bezzle" is always discovered when things go crash. Except this time, we decided not to look. Well, except Madoff.

The entire "securitization" (sic) racket is hogwash from the start. It will be great if more judges decide, "No, you can't reposses that house" because no one can conclusive prove who owns what!
Click to expand...

proof positive for the 1,000 time that you dont' even remotely understand what goldman did/does.
 
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