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(Bloomberg)   Justice Dept. won't bring charges against any Goldman Sachs employees for fraud charges related to the mortgage crisis. U.S.A. U.S.A   (bloomberg.com) divider line 354
    More: Obvious, Goldman Sachs, United States Department of Justice, United States, CDO, mortgage crisis, Lloyd Blankfein, Tom Coburn, Southern District of New York  
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5820 clicks; posted to Main » on 10 Aug 2012 at 5:28 AM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-08-09 10:31:39 PM
Mafia racketeers: in jail.
Wall Street racketeers: here's your $2,000.000 bonus.
 
2012-08-09 10:40:07 PM
Has the Obama admin sent any Wall Street exec to jail for their part in any of the 2007 meltdowns?
 
2012-08-09 10:41:10 PM
Fark them all.

Find yourself a Goldman Sachs rep and beat the living shiate out of them. You can quote me. Every one of those farkers deserves a beating within a inch of their lives. No exceptions.

If you work for Goldman Sachs you better be ready for a beating to remember. Oh yes you will live, but you will wish for death when your face matches the current state of the market.

I'm urging all of you farkers on here to return the favor of being farked by the people that are farking you in the arse!
 
2012-08-09 10:54:14 PM
Tough to respect the American Justice System after this embarrassment.
 
2012-08-09 11:01:13 PM
And you know what? nobody will even blink. billions gone, entire regional economies shattered and...nobody will care. they'll just shrug, and go about their business.

I don't get it. I really don't. you grow a couple of pot plants or run a file trading/torrent indexing site and you'll get helicopters and SWAT teams chasing you down 'till they get you. but bankers who destroyed BILLIONS of dollars in value...won't even get a slap on the wrist or a harsh word said about what they did.
 
2012-08-09 11:08:56 PM

Weaver95: And you know what? nobody will even blink. billions gone, entire regional economies shattered and...nobody will care. they'll just shrug, and go about their business.

I don't get it. I really don't. you grow a couple of pot plants or run a file trading/torrent indexing site and you'll get helicopters and SWAT teams chasing you down 'till they get you. but bankers who destroyed BILLIONS of dollars in value...won't even get a slap on the wrist or a harsh word said about what they did.


But hey, football season started!
 
2012-08-09 11:17:31 PM

captcaveman: Fark them all.

Find yourself a Goldman Sachs rep and beat the living shiate out of them. You can quote me. Every one of those farkers deserves a beating within a inch of their lives. No exceptions.

If you work for Goldman Sachs you better be ready for a beating to remember. Oh yes you will live, but you will wish for death when your face matches the current state of the market.

I'm urging all of you farkers on here to return the favor of being farked by the people that are farking you in the arse!


i bet you can do like 100 pushups.
 
2012-08-09 11:58:09 PM
Wasn't this promise to prosecute bankers one of Obamas cornerstones in his campaign?
 
2012-08-10 12:02:54 AM

cman: Wasn't this promise to prosecute bankers one of Obamas cornerstones in his campaign?


i'd need a source for that. the collapse happened less than a month before the election. hard to have a cornerstone campaign agenda for an entire election that originates in the last 3 weeks before an election.
 
2012-08-10 12:03:34 AM

cman: Wasn't this promise to prosecute bankers one of Obamas cornerstones in his campaign?


i don't think so. no. i don't think it was even mentioned by either campaign.
 
2012-08-10 12:04:40 AM
Sgt Carter is surprised

www.rocketryforum.com
 
2012-08-10 12:06:19 AM
One of the reasons the recovery is so sluggish. Can we get some regulation placed on those newly trust busted financial firms?
 
2012-08-10 12:08:57 AM

WaltzingMathilda: cman: Wasn't this promise to prosecute bankers one of Obamas cornerstones in his campaign?

i'd need a source for that. the collapse happened less than a month before the election. hard to have a cornerstone campaign agenda for an entire election that originates in the last 3 weeks before an election.


Maybe so or maybe not so. Can't find anything on the google.
 
2012-08-10 12:09:54 AM

cman: WaltzingMathilda: cman: Wasn't this promise to prosecute bankers one of Obamas cornerstones in his campaign?

i'd need a source for that. the collapse happened less than a month before the election. hard to have a cornerstone campaign agenda for an entire election that originates in the last 3 weeks before an election.

Maybe so or maybe not so. Can't find anything on the google.


well we can at least throw out the word "cornerstone" then.
 
2012-08-10 12:10:09 AM

Nadie_AZ: Can we get some regulation placed on those newly trust busted financial firms?


This is rhetorical, right? Because I think you already know the answer to that one.

Not under Republicans or Democrats is that going to happen.
 
2012-08-10 12:13:03 AM

ecmoRandomNumbers: Nadie_AZ: Can we get some regulation placed on those newly trust busted financial firms?

This is rhetorical, right? Because I think you already know the answer to that one.

Not under Republicans or Democrats is that going to happen.


That's not good. Do people realize this?
 
2012-08-10 12:22:27 AM

Weaver95: And you know what? nobody will even blink. billions gone, entire regional economies shattered and...nobody will care. they'll just shrug, and go about their business.

I don't get it. I really don't. you grow a couple of pot plants or run a file trading/torrent indexing site and you'll get helicopters and SWAT teams chasing you down 'till they get you. but bankers who destroyed BILLIONS of dollars in value...won't even get a slap on the wrist or a harsh word said about what they did.


In order to receive pardon from the Government, you have to pay.

/like fat chicks
 
2012-08-10 12:45:11 AM

Nadie_AZ: ecmoRandomNumbers: Nadie_AZ: Can we get some regulation placed on those newly trust busted financial firms?

This is rhetorical, right? Because I think you already know the answer to that one.

Not under Republicans or Democrats is that going to happen.

That's not good. Do people realize this?


Yes. At least the "people" who are those corporations.
 
2012-08-10 12:48:34 AM

thomps: i bet you can do like 100 pushups.


But how many treadmills can you eat?
 
2012-08-10 12:50:36 AM

GreenAdder: thomps: i bet you can do like 100 pushups.

But how many treadmills can you eat?


All of them.
 
2012-08-10 12:55:17 AM
You know, I'm amazed nobody has done something incredibly stupid and violent to these people yet.
Not that I endorse or even condone it, but if it happened, I wouldn't be all that surprised.

Horrified, maybe, but not surprised.
 
2012-08-10 01:37:46 AM
for the love of god, can we repeal the repeal of glass steagall ?

split the banks up again would be a good start
 
2012-08-10 02:19:08 AM
I actually think this is valid.

They didn't do anything criminal.

People just need to understand that goldman sachs is the devil. Which is basically what G-S defense has been throughout this debacle. People made deals with them that, if they had done due diligence on, being as they were deals with the devil, they might not have.

It's not the devil's fault that you failed to understand what you were getting into.

You just need to understand that when Goldman Sachs refers to something as a money making opportunity, they mean for them.

They're unethical as all get-out, but they're not criminals.
 
2012-08-10 02:25:43 AM
Credit default swaps are like insurance. They're actually even sorta like 'dead peasant' insurance.

Taking out an insurance policy on your house or your car is perfectly legit, right? Who wouldn't?

Now, lets say that your insurance company is AIG, so you know that THEY are legit, and you have negotiated a deal with them whereby if your house burns down, they will pay you 100% of your house's purchase price or pre-fire resale value, whichever is higher. Why would you not take that deal?

The CDS is even better, because you can actually keep that policy on your house after you sell it, or take out the same policy on your neighbor's house.

Sure, setting fire to your neighbor's house for profit is illegal, so you don't do that. But lets say you happen to know that they keep a lot of oil soaked rags around and their kid is a pyromaniac.

You KNOW that house is going to burn down some day, so you'd be a fool not to take this deal that AIG is offering you on an insurance policy for a house you don't even own, right?

That's basically what they've been charged with.

It was all completely above board and legal. It's just AIG's fault for being stupid enough to write that policy, and the government's fault for failing to see how this system could be abused and regulate it.
 
2012-08-10 02:31:21 AM
Or, say, lets say you take out this policy on your house that you are going to maintain after you sell the house.

You know that the house has bad electrics and leaky gas lines, so you make sure that the sale contract states that it is the buyer's responsibility to identify electrical and/or gas issues, and you make sure that your insurance policy explicitly covers you in the event that bad wiring and a gas leak make the house explode.

AIG would be stupid to write that policy, but it turns out that they pretty much did.

Is Goldman-Sachs criminal for having purchased that insurance policy? Are they criminal for having offered someone a contract that, had they read it, or had the goods inspected, they would have never signed?
 
2012-08-10 02:36:53 AM
The criminals are in charge.
 
2012-08-10 04:37:06 AM
I'm actually stunned Goldman Sachs and others aren't facing major lawsuits. That's actually more troubling than potential criminal stuff.
 
2012-08-10 05:33:37 AM
Give the republicans everything they want, let them turn the US into neo-Somalia with nuclear weapons, and it'll be pseudo-legal to gun them down where they're found.
 
2012-08-10 05:33:57 AM
Reading Michael Lewis' "The Big Short" on the financial crisis is about all I've done in terms of research. But in that book the perpetrators came off as shockingly incompetent, perhaps even criminally negligent, but it didn't seem like they were breaking laws.

It's not like that interest rate scandal, in that sense.

But I'll be the first to admit my grasp of the subject is tenuous at best.
 
2012-08-10 05:34:53 AM
Weaver95:
And you know what? nobody will even blink. billions gone, entire regional economies shattered and...nobody will care. they'll just shrug, and go about their business.

I don't get it. I really don't. you grow a couple of pot plants or run a file trading/torrent indexing site and you'll get helicopters and SWAT teams chasing you down 'till they get you. but bankers who destroyed BILLIONS of dollars in value...won't even get a slap on the wrist or a harsh word said about what they did.


I've seen "Give a man a gun, and he can rob a bank. Give a man a bank, and he can rob the world".

Asa Phelps:
Is Goldman-Sachs criminal for having purchased that insurance policy? Are they criminal for having offered someone a contract that, had they read it, or had the goods inspected, they would have never signed?

Not criminal, but unethical. This is why other professions - doctors, lawyers - have governing bodies and codes of conduct that overlay the general criminal law with additional rules and punishments. Of course, as we've seen, bankers could not be trusted to police themselves for a second, because unlike doctors and lawyers, a huge number of them specifically get into banking to make money by unethical means, without regard for how they harm others.
 
2012-08-10 05:40:50 AM
Keep in mind this is not an eeeeeveil Republican Justice Dept that is giving GS a pass. Noooo my fine friends, it is the "We always look out for the little guys" Democrats guarding the hen house here and letting the fox in and out.

Of course there just might be some kind of connection with that and the fact that key Administration positions from Treasury Secretary on down are filled with ex GS employees and other Wall Street insiders. Maybe.
 
Skr
2012-08-10 05:41:03 AM
files.myopera.com
In the time you took to figure out what this picture is, the collective public has forgotten quite a lot- moving on to the next pressing crisis, whether is gas rising 20 cents, the air conditioner on the fritz, or over cooking of their eggs.

On a more related note, everyone in the spotlight of power ain't going to do shiat to people with such deep pockets as the Sachs boys, especially during an election year. And hell, there are elections of a sort every year so they won't be doing anything that affects their own bottom line, be it in their chosen vocation or the little side businesses they have.

It would be nice to have enough money to not worry of about repercussions, though I guess it would suck feeling the soul die and all that jazz.
 
2012-08-10 05:41:55 AM

Nadie_AZ: Can we get some regulation placed on those newly trust busted financial firms?


And risk unlimited campaign contributions? Surely, you're joking.
 
2012-08-10 05:43:25 AM
If we're gonna be finding Goldman-Sachs guys and beating them up, than we might as well find any Congressmen who voted for the Community Reinvestment Act and string them up the gallows. That little gem of legislation is the real reason behind all of this.
 
2012-08-10 05:44:30 AM
Give them complementary tickets to The Dark Knight Rises in Aurora.

Then give Breivik some hallucinogens and a machete, shove him inside and lock the doors.
 
2012-08-10 05:45:04 AM
... with liberty, and justice for all some.
 
2012-08-10 05:45:41 AM
It's OK. There's plenty of British banking malfeasance to draw attention away from these guys getting a free ride.
 
2012-08-10 05:49:19 AM
Meanwhile, there have been at least 7,385 documented arrests of Occupy Wall Street protesters.

Cite
 
2012-08-10 05:55:02 AM

taurusowner: If we're gonna be finding Goldman-Sachs guys and beating them up, than we might as well find any Congressmen who voted for the Community Reinvestment Act and string them up the gallows. That little gem of legislation is the real reason behind all of this.


This, but people are programmed into thinking those who make more money than them are evil so the laws that got us into this mess will never be looked at.
 
2012-08-10 06:01:55 AM

namatad: for the love of god, can we repeal the repeal of glass steagall ?

split the banks up again would be a good start


It would be, and really what can they send any individual to jail for it was all legal, well sorta.
 
2012-08-10 06:16:53 AM

Sgygus: Mafia racketeers: in jail.
Wall Street racketeers: here's your $2,000.000 bonus.


If that number is supposed to be 2 million, your a bit light. Try 200 million, or even 2 billion for some of the bastards.

I'm boot strappy, conservative/libertarian type, but even I think huge numbers of these bastards should be hung upside down in a public square where people can abuse them. But not just the bankers; the politicians that changed the laws to make this possible should get the same treatment.
 
2012-08-10 06:17:20 AM

BlameBush: Keep in mind this is not an eeeeeveil Republican Justice Dept that is giving GS a pass. Noooo my fine friends, it is the "We always look out for the little guys" Democrats guarding the hen house here and letting the fox in and out.

Of course there just might be some kind of connection with that and the fact that key Administration positions from Treasury Secretary on down are filled with ex GS employees and other Wall Street insiders. Maybe.


Romney and the Republicans are going to go after G-S, it's a cornerstone of Romney's campaign. And Paul Ryan's too. So vote Republican if you want something done about it.
 
2012-08-10 06:19:20 AM

EnviroDude: Has the Obama admin sent any Wall Street exec to jail for their part in any of the 2007 meltdowns?


Did GW Bush do anything to rescue the hostages in the American embassy in Iran?
 
2012-08-10 06:26:03 AM

ghare: Romney and the Republicans are going to go after G-S, it's a cornerstone of Romney's campaign. And Paul Ryan's too. So vote Republican if you want something done about it.


Sure. Vote republican. They'll lightly slap them on each wrist, making us feel better, and while we're not looking they'll bust unions and make it otherwise impossible for employees to protect themselves. Also, education and science funding will be cut severely, and women will have to go to back alley abortion clinics and die by the dozens. The standard talking heads will shake them and make the usual-pity noises, and suddenly some people will realize that this is merely a repeat of what has happened before.

... nah, I don't think I'm gonna vote a religious nutter into the white house. Fark that.
 
2012-08-10 06:26:56 AM

taurusowner: If we're gonna be finding Goldman-Sachs guys and beating them up, than we might as well find any Congressmen who voted for the Community Reinvestment Act and string them up the gallows. That little gem of legislation is the real reason behind all of this.


Oh, sure, despite the fact that federally regulated CRA loans were not, in your words "the real reason behind all of this" and in fact failed at a lower percentage of the total failures in the crisis and at an even lower dollar percentage of all failures in the crisis. In fact, the major villain was the unregulated subprime mortgages pumped out by free markety types, i.e., those not under the burdensome guise of the much hated "regulation" that did the most damage.

But don't let your bias against responsible government, poor or brown people get in the way of facts and Fox News pablum.
 
2012-08-10 06:27:34 AM
Yet they will go after a programmer who leaked code with all barrels.
 
2012-08-10 06:28:05 AM

ghare: Romney and the Republicans are going to go after G-S, it's a cornerstone of Romney's campaign. And Paul Ryan's too. So vote Republican if you want something done about it.


LOL
 
2012-08-10 06:28:07 AM

RabidJade: taurusowner: If we're gonna be finding Goldman-Sachs guys and beating them up, than we might as well find any Congressmen who voted for the Community Reinvestment Act and string them up the gallows. That little gem of legislation is the real reason behind all of this.

This, but people are programmed into thinking those who make more money than them are evil so the laws that got us into this mess will never be looked at.


The only way anyone gets to bethat wealthy is by screwing others out of their money and it is up to the government to stop that from happening.
 
2012-08-10 06:31:25 AM
people keep voting in the same folks who make the laws that allow banks and wall street
to rake in the cash.
it is the new american culture to blame someone else for their own ignorance

whar is my monys..whar?

people deserve exactly what they get
when you smile and throw away your future
and yer paid exactly what you deserve
tired of crying? change it
...we both know you won't
 
2012-08-10 06:31:39 AM

Asa Phelps: I actually think this is valid.

They didn't do anything criminal.

People just need to understand that goldman sachs is the devil. Which is basically what G-S defense has been throughout this debacle. People made deals with them that, if they had done due diligence on, being as they were deals with the devil, they might not have.

It's not the devil's fault that you failed to understand what you were getting into.

You just need to understand that when Goldman Sachs refers to something as a money making opportunity, they mean for them.

They're unethical as all get-out, but they're not criminals.



That's the response I was looking to make as well. And yes I'm a mortgage banker.
Party on.
 
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