Goldman Sachs laughs in our faces

(8 am. – promoted by ek hornbeck)

The Masters of the Universe at Goldman Sachs are now so confident of their domination of America that they are publicly mocking the press, the government, and the people. They are doing this through shameless displays of market manipulation and disinformation. Any sane observer of the financial world would recoil in disgust at the following pranks.

1. Goldman drops out of their financial reporting the month of December 2008, in which they had significant losses, in order to conveniently shift to a different reporting calendar.

2. Goldman rushes through a $5 billion public offering based on cooked numbers and government subsides. The market responds with a vote of “confidence” by cutting 10% off Goldman’s stock price.

3. Goldman makes a show of intending to “return” $10 billion in taxpayer TARP money, while remaining silent about their continued issuance of huge amounts of debt GUARANTEED BY THE FDIC.

4. Goldman claims that the $12 billion of (taxpayer provided) CDO payments it received from AIG had no material affect on its financial performance. Uh-huh.

The long knives are out for Goldman Sachs. Government regulators, angry investors, consumer activists, blogosphere progressives, and most intelligent observers will long remember how one company used its legally corrupt operatives in the Obama administration to grab taxpayer funds to pay million-dollar bonuses to lying executives whose only ethos is greed. This firm deserves capital punishment. It may duck and twist and dodge for a few more years, but it is going to go down, and it will go down hard.

Goldman Sachs will be remembered like Enron: a textbook case of the pernicious and self-destructive conduct of an uncontrolled corporation.

13 comments

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  1. Enron is an appropriate comparison. Securitazions, derivatives, mark to market accounting, all alllow for debt to be magically be transformed into asset.

    It’s basically a complex smoke and mirrors Ponzi scheme.

    Goldman Sachs are laughing in our faces and whether Obama is laughing along with them or just trusting that the MOTU’s know what they are doing doesn’t really matter.

  2. every body with a brain in there head knows that Goldman Saks is running the money. I wrote my tax check yesterday and realized that instead of making it out to United States Treasury, I should have just written it to Goldman Saks. This is change of a sort during the Bush era I always thought I should just make this out directly to Halliburton.        

    • Arctor on April 15, 2009 at 7:54 pm

    were going to game the system. Capitalist sharks always do, whether its post-9/11, or Katrina, or this financial disaster. Meanwhile, with the active connivance of the Fed, the FDIC, and the Treasury, first under Bush/Paulus and now under Obama/Geithner, the banking laws of this country have been turned on their heads.

    Buffet buys into Goldman for $ 5 billion, Goldman becames a bank, takes government handout and like the others that are reporting record first quarter results, has access to zero-percent funding. It finances itself in debt markets with the FDIC guarantee which is the same as US Government Securities, while the FDIC pretends that the rest of us have only $ 250k of FDIC guarantee. The final effect is that the US government has given the banks the best effects of nationalization without any consequences and now the banks are finishing off the job of draining the body politic of this country, its people, bone dry. F…ng Vampires and Geithner is their Blood Bank!

  3. and after 7 or so thousand years of practice the capital class has become quit proficient at it………

    their only problem is scale…….

    scale is everything…..

    game over……

    more pancakes for them in the morning…..

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