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Goldman Sachs

Allessio Rastani calls it like he sees it.

Submitted by Roanman on Mon, 09/26/2011 - 20:48

 

Speaking of Zero Hedge, here's a cut and paste of an entire Tyler Durden post this morning, followed by the video it describes.

 

In an interview on BBC News this morning that left the hosts gob-smacked (google it... it is the BBC after all), Alessio Rastani outlines in a mere three-and-a-half-minutes what we all know and most ignore. While the whole interview is worth watching, the money shot for us was "This economic crisis is like a cancer, if you just wait and wait hoping it is going to go away, just like a cancer it is going to grow and it will be too late!".

While he dreams of recessions, sees Goldman ruling the world, and urges people to prepare, it is hard to disagree with much (or actually anything) of what he says and obviously interventions and machinations means we will have days like this (in Silver for instance), there is only one endgame here and we hope there is less hopeful euphoria (and more preparedness) as we pull back the curtain further and further.

While we do not know who this trader is, one thing we can be 100% certain of is that he will never appear on CNBC.

 

 

Lloyd, Sister Mary Margaret would like to see you in her office.

Submitted by Roanman on Tue, 04/05/2011 - 07:03

 

From Katya Wachtel at Business Insiders, who has been doing a real nice job lately of providing fun but useful stories.

As always, the photo will link you up with the story.

 

Nuns Demand Goldman Sachs Explain Why It Paid $69.5 Million To The Top 5 Execs In 2010

Katya Wachtel   Apr. 4, 2011
 

 

Goldman Sachs will pay its top five executives just under $70 million for their work in 2010, and four orders of catholic nuns are demanding that the firm launch a review over whether the pay is excessive.

Lloyd Blankfein and his top lieutenants were awarded between $13 and $14 million for their work last year; they all received a cash bonus of $5.4 million.

The nun and charity group has asked that the firm's Compensation Committee reveal extremely detailed information about the compensation.

 

Hope she still has that damn yardstick.

 

The Fed, The Ben Bernanke and The Goldman Sachs

Submitted by Roanman on Mon, 11/22/2010 - 17:48

 

I haven't skulked Zero Hedge for a couple of weeks or more.

Big mistake.

For about the first 90 seconds here, you're gonna wish you could throttle either or both of these little bears.

Hang in there.

By the end you'll know for damn sure who needs strangling.

Trust me on this one.

 

 

Your government, a wholly owned subsidiary of George Soros, John Paulson, Goldman Sachs etc. etc. etc.

Submitted by Roanman on Wed, 10/20/2010 - 07:09

 

Thanks to Dougy F. for this one.

Here's one reason you can barely do a workout.

 

 

To quote R.E. McMaster and Ricky Ricardo

Submitted by Roanman on Wed, 04/21/2010 - 07:08

 

"Goldman and a hedge fund client put together a ball of sub-prime junk designed to fail and then bet against it.

Goldman also took out insurance on those same mortgage backed securities from AIG, the same AIG taxpayers bailed out to the tune of $180 billion.

Goldman was paid a total of nearly $13 billion from AIG at the direction of Treasury Secretary Tim Geithner."

 

 

 

John Paulson and Goldman Sachs

Submitted by Roanman on Tue, 04/20/2010 - 16:18

 

The second simplest and most concise explanation of the newest revelation concerning Goldman Sachs, John Paulson and the toxic securities that have poisoned the investing world comes from Richard Russel's Dow Theory Letter.

(The best one is above).

 

Now it can be told. It started with billionaire fund manager John Paulsen. He had an idea that the wild speculation in homes was putting the price of homes into the bubbly stratosphere, and that the whole home-structure was due to collapse. Paulsen went to a few firms including Goldman and asked them to structure mortgage packages that would include some of the poorest quality mortgages. Paulsen's plan -- bet against these vehicles and these items and hope that he would be correct -- that the housing boom would go into free-fall. This is exactly what happened, and Paulsen and his investors pocketed billions in profits.

Bear Sterns turned down a deal with Paulsen. But Goldman and Deutsche Bank went along with Paulsen. Goldman, knowing the mortgage packages they had created were toxic, sold these deals to investors without telling them about Paulsen and his thesis that these mortgage packages were created to fail. What's worse, Goldman even sold these toxic packages short. Goldman sold the product to their customers and at the same time shorted the products.

But what about the agencies that were supposed to grade these packages? They were as asleep as was the SEC on the Madoff case. The toxic packages got a AAA classification from the rating agencies. All in all, a disgusting case of collusion and incompetence by Wall Street and the rating agencies and stupidity on the part of the buyers of these toxic packages.

The fact is that Paulsen had been searching for bubbles in the economy, and he correctly zeroed in on real estate and specifically home mortgages. But Paulsen never sold his toxic packages to investors, Goldman did. Which is why the SEC has focused its fraud accusations on Goldman and left Paulsen alone.

Paulsen & Co. earned $15 billion betting against the housing market in 2007. Paulsen, 54 years old, personally made nearly $4 billion that year. Today Paulsen's hedge fund has $32 billion in assets, making it one the world's largest hedge funds. Of interest is that Paulsen's most recent big investment is in gold and gold stocks and exchange traded funds tied to gold.

 

 

Marxism with a twist?

Submitted by Roanman on Tue, 01/26/2010 - 13:36

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