Don't Get Caught Up in the Goldman-SEC Hype

Wednesday, April 21, 2010 , , , 20 Comments

Sure, Lord Blankfein is going to have to testify at the altar of The Hill (big fucking deal, Bernanke does it all the time).

Sure, the SEC swooped in to spank Goldman's ass on a Friday with little warning.

Sure, they're kind of fucked. But this is not news.

Try JDA, June, 2009. Or Zero Hedge, July, 2009. Come on, it took the SEC this long to put together anything substantial?! Bitch, please.

Someone come get me when we're ready to go in there (figurative) guns blazing ready to take the joint back otherwise this is just slapping with the left while jerking off with the right. Goldman is not afraid of the SEC, why should they be?

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.


elf2006real said...

It's a show trial with the taxpayers as the guilty party. Lord Bankfiend will walk, and watch..they'll spend even more on campaign contributions in this election cycle (although I'd expect them to weight other than 2-1 against the Repubs this time - more 50/50).

This is government by Control Fraud. Make no mistake, DC is at the top of this pyramid scheme.

Anonymous said...

I don't think the SEC lawsuit is what will "sink the G.S. Titanic". I think that the numerous lawsuits that will follow initiated by pension funds, municipalities, maybe a few wealthy individuals, sovereign wealth funds, etc., is what has the possibility of being the "death by a thousand cuts" for G.S. They are so easily disliked and mistrusted now that as time goes by, they are bound to lose a few. Think Big Tobacco. Will they survive? Probably. But not in their current form is my guess. Will another group of assclowns spring up in the vaccuum that is eventually created? Well, this IS America, right? I don't doubt that there will be another group.

Personally I'd like to see some well placed, high velocity lead cure the problem with these individuals but then I'm kind of an "Old Testament" sort of person ;>)

Fabulous Fabrice.... take note.

"This cancerous, lethal, and destructive quality, probably more than any other negative quality, has brought down more kingdoms, toppled more empires, caused more wars, destroyed more marriages, ruined more friendships and led more criminals into our jail systems than all of the other negative qualities combined and put together.

The spirit of pride has to be the absolute king of all the negative and destructive qualities that can enter into our personalities – and no one is safe and immune from it. All Christians, young and old, super saint or not, have got to keep a sharp eye on this negative quality, and do everything they can not to let this spirit get a foothold and grip into their personalities and mindsets."


Anonymous said...
Anonymous said...
Anonymous said...

and if it gets too hot in the galley just follow this dude's lead

wow, a year gone by as of today.... where does the time go when you're having fun?

Anonymous said...

That April, he joked about the bonds the SEC charges he misled clients about.

"I've managed to sell a few abacus bonds to widows and orphans that I ran into at the airport, apparently these Belgians adore" the complex investments, Tourre wrote.

Oooooohhh, Fabulous Fab.... The Lord doesn't think highly of those with false pride.

Again, well placed, high velocity lead in nice groupings would be my own thinking but it is a good thing that it is left up to Bob Khuzami to make the call. I don't doubt that they will be comin' for dat ass Fab.


Anonymous said...

"Khuzami, best known for prosecuting the 1993 World Trade Center bombing involving “blind sheikh” Omar Abdel-Rahman, is not giving up and has implemented some structural reforms that could end up paying long-term dividends"

You think this guy doesn't know how to break balls?

Anonymous said...

In June 1999, Khuzami led the prosecution of Patrick Bennett, former CFO at the Bennett Funding Group, who was convicted of 42 counts of fraud and money laundering. Bennett fooled 12,000 investors into signing onto a $700 million scheme that sold securities based on fake office-equipment leases and buying other leases more than once.DeBaise, Colleen, "Ex-Bennett Funding Executive Gets 30-Year Sentence," Dow Jones News Service, April 28, 2000(3)DeBaise, Colleen, "Ex-Bennett Funding Executive Gets 30-Year Sentence," Dow Jones News Service, April 28, 2000 It was said to be the largest Ponzi scheme at the time, and Bennett received 30 years in jail before an appellate court shortened his sentence


Anonymous said...

“This is just the tip of the iceberg,” said James Hackney, a professor at Northeastern University School of Law. “There are a lot of folks out there in different deals who played similar roles, and once it starts building steam, plaintiffs' lawyers will figure out this is where the money is and there should be a lot of action.”

Iceberg, dead ahead! - Frederick Fleet

Anonymous said...

“Goldman could've easily paid a fine already,” said John Coffee, a securities law professor at Columbia University. “So I don't think it's money they're fighting over.”

I guess we're going to see who has bigger balls. Lord Blankfein or Uncle Sam. Now, Blankfein can buy and sell the Smug Bastard many times over but last I heard, you don't go insulting Uncle Sam about the size of his nuts.

Anonymous said...

But, really America has an unhealthy and dysfunctional relationship with its investment bankers. <a href=">The Foundations</a> pretty much sum it up.

Anonymous said...

Whoopsies! Forgot to put in that one little " -heh heh heh!

let's give it another try

Anonymous said...

"Goldman is not afraid of the SEC"

They may not be afraid of the SEC (big mistake in my book) but I'll bet they are afraid of a marauding horde of lawyers from all over the world and all lining up to take a shot at them. Ever know a lawyer that did NOT like money? They are going to become universally hated as more news leaks out. Internally, they are going to have figure out who among them is going to "take one for the team" and then you'll see them turn on one another a throw a few of their brethren under the bus. Hugely entertaining stuff. Got some buttered popcorn flavored Jelly Bellys for the show?

Anonymous said...

I want to see John Edwards try to redeem his image by filing a suit against the Evil Squid.

Anonymous said...

Now tell me that would not be world class entertainment - The Hairdoo vs. Lord Blankfein.

Anonymous said...

Thick and lusterous vs. clear with gray highlights.

Anonymous said...

Results 1 - 10 of about 14,800,000 for sec goldman sachs. (0.20 seconds)

Someone didn't read the memo.

Anonymous said...

“Boy that timberwo[l]f was one shi**y deal,” Montag, who is now Bank of America Corp.’s president of global banking and markets, said in a June 22, 2007, e-mail to Daniel Sparks, who ran Goldman Sachs’s mortgage business at the time, according to the panel’s statement. Within five months of Timberwolf’s debut, the CDO had lost 80 percent of its value, and it was liquidated in 2008, according to the panel.

Everybody was kung-fu fighting - ha!
Those cats were fast as lightning -ha!
In fact it was a little bit frightning (da da da da da da da da)
But they fought with expert timing
(da da da da da da da)

Anonymous said...

I wonder how these cases get assigned?

Anonymous said...

They remained federal prosecutors for much of the 1980's, an exhilarating time in the office, according to people who were there. Emboldened by the prosecutorial power in the new Racketeer Influenced and Corrupt Organizations Act, prosecutors stepped up efforts to take down Mafia crime families. Ms. Jones was part of the team that tried the first RICO cases against a Mafia family.

Is it just me or does it seem as though there are a lot of legal beagles involved in this who happen to have some RICO experience