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Finally charged these slimebags: http://www.theglobeandmail.com/globe-investor/sec-charges-goldman-sachs-with-fraud/article1536686/

Can't believe how these guys had a hand in creating these sub-prime mortgage securities and then made huge profits by shorting their own product during the meltdown. But I suppose if you have Goldman alumni's like Henry Paulson watching over you from the US Treasury, you have a guardian angel.
Reading The Big Short now and I was thinking just yesterday why regulators didn't have a closer look at Goldman Sachs' role in marketing CDOs. Turns out the wheels of justice were already in motion.
 

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These are just civil fraud charges, so it doesn't have much teeth. GS will probably be forced to pay a symbolic few million dollars and it will be end of story. GS is so well connected, carrying extensive political and financial influence that this is just a minor issue for them...
 

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These are just civil fraud charges, so it doesn't have much teeth. GS will probably be forced to pay a symbolic few million dollars and it will be end of story. GS is so well connected, carrying extensive political and financial influence that this is just a minor issue for them...
So in other words the shareholders will have to pay the fine in addition to the nice bonuses paid out.

Same thing happened to Bank of America. I have no faith in the US banking/investment game.

There should be a massive round up of all those involved, confiscation off all the wealth made from the questionable acts, and then executions.
It would also be a good idea to execute the entire bloodline just incase any greed was genetically passed down.
 

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I am left a little more curious as to why they charged them now. 2 years after the incident. Read the big short also. So if people are writing books about this story. And it is commonly known. Why charge them now? On a Friday afternoon?

And what of the other banks who did this?

The charges leave me with more questions than before...
 

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Cal the reason is there is a legal system, not a justice system. High priced lawyers can work wonders.

It amazes me how you can almost cause a global economic collapse, and nothing seems to happen, but some poor farmer will sell grain outside of the wheat board, and BAM he goes to jail for 6 months.
 

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Discussion Starter #7 (Edited)
Many of you have probably read this article: http://sites.google.com/site/disclosuredelta/ , the now famous Matt Taibbi article on GS. For those who haven't, try to read this with an open mind, don't brush it off because it's from Rolling Stone. I did at first, but the more I looked into it, the more I realized what an evil group of SOB these guys are...
 

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Read this

Especially to see the graph. The SEC is just as guilty in this all as GS.

What’s really interesting, as always, is the story that no one is telling. The SEC is either stupid or corrupt for announcing their suit on options expiration Friday, the most volatile day of the month.

April 170 Goldman Sachs puts, which would have expired worthless had the SEC waited until today, rose 140,000% on Friday.




Anyone with an extra thousand bucks and some insider info on Friday morning could have made just shy of a million and a half by Friday afternoon.

There was surprisingly large volume in these “out of the money” puts the days before… who in their right mind would bet on such a large fall for such a typically stable company? Someone who knew what was coming. Maybe someone in the SEC should look into that, too.

Heh. Maybe someone already did.
 

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It would also be a good idea to execute the entire bloodline just incase any greed was genetically passed down.
LOL. :D

@davext: I was debating to buy or not to buy and I opted for the latter for the time being, though I think getting in was not a bad idea; closed at $157.40 on Friday.
 

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bought this stock at $158, let's see if I can make some money off these guys. If you can't beat them, join them.
Been doing some buying and selling since drop, b 161, b 159, sell 165 b 161, b 152 sell 156

With profits I can buy a new pair of skis:D

Anyway I think its way out of portion. $20bil market cap drop over a $2b deal that made them $170mil or was it $17 mil. Anyway the more I hear the less of an issue I think it is. 3 months form now it will be back at $180 heading for $220.
 
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