GS is Lucifer’s economic face. GS would eat its own liver if if meant an international central banker could engage in improprieties with dead children one more time.
They blow up their clients because they can make money doing it. Just like they go for months on end not having a single day of losses in their own trading, because that’s money for them. I expect it’s easy as pie to do if one has the inside info they have.
They also got bailed out by the American taxpayer, by getting 100 cents on the dollar of what AIG owed them, after us taxpayers bailed out AIG. And they pressured the politicos to bail out AIG because that’s money for them. Matt Taibbi has documented that they came close to blowing up the whole U.S. economy multiple times– because they could make a profit off of creating bubbles and then shorting them on the way down. It’s a wonder they don’t sell narcotics. There must not be enough money in it.
Easy. Blow up Sovereign Wealth Fund. Make $ during process. Step two impose a central bank and create debt. Step 3 Exchange debt for physical gold and demand structural adjustment policies….ie oil rights.
I can’t believe the hatred going around about Gold Sack.
They are or (were now) the best firm in the world with some of the best minds. Leaders in almost everything they touched and people hate them like they are worse than Hitler.
Yep.. hit the down thumb button to prove my point.
People love to hate when the smartest people in the room win big at everything. They haters really go nuts when they can’t figure out how you are doing it.
People love to hate when the smartest people in the room win big at everything. They haters really go nuts when they can’t figure out how you are doing it.”
Love the sarcasm. It’s perhaps the smartest most successful form in the world.
People love to hate when the smartest people in the room win big at everything. They haters really go nuts when they can’t figure out how you are doing it
no problem with anyone banking coin so long as its their own capital at risk. When you need taxpayers to backstop your fuck ups, you immediately stopped being the smartest people in the room. I had more respect for GS when they were a partnership than now. And dont give me this “they paid back their government money” horeshit. Should never have needed it inthe first place.
goldman was a great firm when i started working there in the mid 90’s but as soon as we went public there was a massive culture shift.. i worked with lloyd and his jaron douche bags n FICC for a few years but quit in disgust in the mid 2000’s….bunch of ruthless mother fuckers. nuff said, i still want to get my pension. lol.
Interesting history there, thanks. So the turn was after it went public. It’s good you got out of there alive. I read that those GS folks who work in Japan were ordered not to leave the radiation filled place or they would lose their jobs. Velvet chains, people call them. You get paid well, but your employer owns you.
Looks like GS is an equal opportunity plunderer. They are willing to bankrupt any client, if they can make money by doing so, regardless of the client’s race, creed, color, or national origin. I can’t understand why they still have clients though. Why is that?
“If you sent a blind, three-legged donkey into Caesar’s palace with $1.5 billion in chips, it could probably stay solvent longer than this options package Goldman sold to Qaddafi.”
1929 Goldman Sachs Launched investment trusts. The largest one, Shenandoah Corporation, was oversubscribed sevenfold. Investors were told that the fund contained $102,500,000 worth of various securities, but the actual identities of those securities,and the numbers of each, were never revealed. Shenandoah opened at $17.5 before reaching $36. After the crash, the price fell to 50c.
We know today, with its MBS scams, that Goldman Sachs uses ridiculously high leverage. We know that GS packaged up tranches of subprime and other junk securities into CDOs, and then used CDOs to collateralize and create other CDOs, until the product was a CDO squared, or a synthetic CDO. Well, the Gold Men were doing something very similar back in 1929. This is from John Kenneth Galbraith:
“Goldman launched the Shenandoah Corporation and sold a chunk to the public. This established a leveraged fund of funds. Then, Shenandoah set up the Blue Ridge Corporation, selling a chunk to the public, instituting a fund of funds of funds with at least double leverage. They sold Shenandoah Corp at a 103% premium. (That’s 103%, not 3%! They sold it for more than double the amount of cash and securities it owned…) Flush with success / hubris / greed (choose one) they then sold shares in Blue Ridge at a 46% premium to the actual amount of money in this trust with unknown assets. As a result of this early experiment with secrecy and leverage, GSTC (Goldman Sachs Trading Corporation) stock soared to $280 a share in 1929 – and subsequently declined to a chastened $1.25 three years later. For every $280,000 you invested at the top, you were left with $1,250.”
GSTC was an entity within the company of Goldman Sachs itself. Once GSTC preferred stock tanked, Goldman Sachs common stock, which had been trading at $75 per share before (Black Monday, October 28, 1929) on the New York Curb Exchange, fell, by December 16, 1931, to $2.00 per share. Walter Sachs had to sell his yacht Today’s Goldman Sachs is Government Sachs, and Lloyd Blankfien didn’t have to sell anything after the 2008 meltdown.
The Goldman Sachs company song:
“Please allow me to introduce myself
I,\’m a man of wealth and taste
Ive been around for a long, long year
Stole many a mans soul and faith”
So you are saying in the 25 Abacus deals Goldman did from 2004–2008, that there was a memorandum for each disclosing that John Paulson picked mortgages for those deals he expected to default, and then used heavy leverage to short them. I’m guessing that if that were the case, no investors would have added those financial time bombs to their portfolios. Any memorandum Goldman issues is probably just as clear and easily understood as the fine print sent out by the credit card companies. J, living in your parallel universe must be glorious.
“So you are saying in the 25 Abacus deals Goldman did from 2004–2008, that there was a memorandum for each disclosing that John Paulson picked mortgages for those deals he expected to default, and then used heavy leverage to short them.”
Ever worked in a trading house like an I-bank?
For the most part traders don’t give a shit what nearly all customers do if only how it effects flow. I never did. I’ve seen multi-billion trades come from Soros execution desk that were wrong and we went the other way because the size of the trade showed how wrong it was..
So what if Gold Sack shorted to customers. Those pricks were seasoned operators who should have known the risks. They weren’t mom and pop who deserve to be treated differently.
And how exactly did Goldman know they were right, as they put the trade on?
You still haven’t answered my question Archduke Ferdinand? Was there any information about leverage in the offering memo?
Matt Taibbli is venom filled, left wing sack of shit.
The fucking moron knows nothing about finance having a simple ungrad from a so so college: Bard, which is known for people with more of an interest in English literature. he should stick to wring about the interpretations of Shakespeare.
Taibbi notes that Cyrus Vance, Jr is going after Goldman Sachs. Cyrus Vance, Jr, if he is anything like his dad, who resigned as Carter’s Sec of State over Carter’s goofy Iran hostage strategy, will be no pushover. When I was a kid, Cyrus Vance, Sr, was a family friend. He was the only lawyer that my father everreferred to as honest. Let’s hope that the apple doesn’t fall far from the tree.
“Nothing says you can’t be honest and totally fucking clueless”
J, you are probably less an expert in honesty than you believe Tiabbi to be in finance. However, you are proving that you have an advanced degree in what it takes to be “totally fucking clueless”. You are a rare breed; both a defender and an apologist for Lloyd Blankfein–the man who is doing “God’s work”. If what Blankfein is doing is God’s work, then there’s not much work left for old Lucifer to do.
No. I think Llloyd is a total prick from two experiences with him when he oversaw the currency trading desk. However he was never dishonest and I don’t think he has been.
But keep listening to Fuckhead Mad Max and BA Lit undergrad Matt Taibbi for you finance news.
I see there’s another Mad Max Kaiser devotee. Dickhead aren’t you the least embarrassed listening to conspiracy laden trooferism like that. You asshat.
Where the fuck do these Mad Max devotees come from?
Put in a 110% tax on all income above $250K per year. That stops all this shit, and gets the
price of a Yankees ticket down to $5 bucks. I see ZERO downside.
Awesome. Wonder if Mr Blankfein is looking over his should for angry Libyans trying to remove his head from said shoulders.
I don’t think so. It’s more like angry Libyans are getting Tomahawked into dust, while Blankfein sips sherry.
when has GS ever lost money?
GS is Lucifer’s economic face. GS would eat its own liver if if meant an international central banker could engage in improprieties with dead children one more time.
GS intentionally blew up one of their own clients’ accounts? Nothing new here.
Why in the world would they intentionally blow up clients, unless they were mad?
lol
They just get caught recommending what upper mngt wants them to push. Nothing new there.
They blow up their clients because they can make money doing it. Just like they go for months on end not having a single day of losses in their own trading, because that’s money for them. I expect it’s easy as pie to do if one has the inside info they have.
They also got bailed out by the American taxpayer, by getting 100 cents on the dollar of what AIG owed them, after us taxpayers bailed out AIG. And they pressured the politicos to bail out AIG because that’s money for them. Matt Taibbi has documented that they came close to blowing up the whole U.S. economy multiple times– because they could make a profit off of creating bubbles and then shorting them on the way down. It’s a wonder they don’t sell narcotics. There must not be enough money in it.
it’s a good thing that i have been living under a rock, thanks Frog
I AM NOW INFORMED
Easy. Blow up Sovereign Wealth Fund. Make $ during process. Step two impose a central bank and create debt. Step 3 Exchange debt for physical gold and demand structural adjustment policies….ie oil rights.
Old hat behavior taking place since the 50’s
Talk about conviction – they let a position ride into a 92% loss? LMAO
FIG
I can’t believe the hatred going around about Gold Sack.
They are or (were now) the best firm in the world with some of the best minds. Leaders in almost everything they touched and people hate them like they are worse than Hitler.
Yep.. hit the down thumb button to prove my point.
And Mad Max is a fucking lunatic.
You tell them, J.
People love to hate when the smartest people in the room win big at everything. They haters really go nuts when they can’t figure out how you are doing it.
You guys are half right.
True, they will go nuts when they can’t figure out how are creaming everyone else, but you don’t have to be hated.
If you share the wealth, you’ll be adored. Ponzi is for lovers, baby.
“You tell them, J.
People love to hate when the smartest people in the room win big at everything. They haters really go nuts when they can’t figure out how you are doing it.”
Love the sarcasm. It’s perhaps the smartest most successful form in the world.
But keep listening to Mad Max
People love to hate when the smartest people in the room win big at everything. They haters really go nuts when they can’t figure out how you are doing it
no problem with anyone banking coin so long as its their own capital at risk. When you need taxpayers to backstop your fuck ups, you immediately stopped being the smartest people in the room. I had more respect for GS when they were a partnership than now. And dont give me this “they paid back their government money” horeshit. Should never have needed it inthe first place.
See what I fucking mean.
J you are so stupid why don’t you just stand in front if a train.
Mut
Only if you’re standing in front to give me a chance to get away.
Go read zerohedge, you fucking moron and tell us of the last conspiracy theory they’ve unearthed.
Go fuck yourself.
Now I realize why my 401k money is lost forever.
I, too, am an illegitimate ruler.
They had them buying fairz. haha
regards
chuck
Goldman Sachs killed my puppy
goldman was a great firm when i started working there in the mid 90’s but as soon as we went public there was a massive culture shift.. i worked with lloyd and his jaron douche bags n FICC for a few years but quit in disgust in the mid 2000’s….bunch of ruthless mother fuckers. nuff said, i still want to get my pension. lol.
Interesting history there, thanks. So the turn was after it went public. It’s good you got out of there alive. I read that those GS folks who work in Japan were ordered not to leave the radiation filled place or they would lose their jobs. Velvet chains, people call them. You get paid well, but your employer owns you.
Who does BP, France and Italy cut their checks to when they buy oil? Gaddafi, of course.
Looks like GS is an equal opportunity plunderer. They are willing to bankrupt any client, if they can make money by doing so, regardless of the client’s race, creed, color, or national origin. I can’t understand why they still have clients though. Why is that?
Taibbi is hilarious.
Goldman Tries, Fails to Sell Soul With Libya Deal
http://www.rollingstone.com/politics/blogs/taibblog/goldman-tries-fails-to-sell-soul-with-libya-deal-20110602
“If you sent a blind, three-legged donkey into Caesar’s palace with $1.5 billion in chips, it could probably stay solvent longer than this options package Goldman sold to Qaddafi.”
WOW!
Now we know why Libya bad, Syria good. Obama and the street, pure evil.
Now we know who sprung for the booze,babes and blow…
gadaffi had 200 billion $ of oil money in cash in foreign banks … that money is now freezed, stolen and used to finance his decapitation …
1929 Goldman Sachs Launched investment trusts. The largest one, Shenandoah Corporation, was oversubscribed sevenfold. Investors were told that the fund contained $102,500,000 worth of various securities, but the actual identities of those securities,and the numbers of each, were never revealed. Shenandoah opened at $17.5 before reaching $36. After the crash, the price fell to 50c.
We know today, with its MBS scams, that Goldman Sachs uses ridiculously high leverage. We know that GS packaged up tranches of subprime and other junk securities into CDOs, and then used CDOs to collateralize and create other CDOs, until the product was a CDO squared, or a synthetic CDO. Well, the Gold Men were doing something very similar back in 1929. This is from John Kenneth Galbraith:
“Goldman launched the Shenandoah Corporation and sold a chunk to the public. This established a leveraged fund of funds. Then, Shenandoah set up the Blue Ridge Corporation, selling a chunk to the public, instituting a fund of funds of funds with at least double leverage. They sold Shenandoah Corp at a 103% premium. (That’s 103%, not 3%! They sold it for more than double the amount of cash and securities it owned…) Flush with success / hubris / greed (choose one) they then sold shares in Blue Ridge at a 46% premium to the actual amount of money in this trust with unknown assets. As a result of this early experiment with secrecy and leverage, GSTC (Goldman Sachs Trading Corporation) stock soared to $280 a share in 1929 – and subsequently declined to a chastened $1.25 three years later. For every $280,000 you invested at the top, you were left with $1,250.”
GSTC was an entity within the company of Goldman Sachs itself. Once GSTC preferred stock tanked, Goldman Sachs common stock, which had been trading at $75 per share before (Black Monday, October 28, 1929) on the New York Curb Exchange, fell, by December 16, 1931, to $2.00 per share. Walter Sachs had to sell his yacht Today’s Goldman Sachs is Government Sachs, and Lloyd Blankfien didn’t have to sell anything after the 2008 meltdown.
The Goldman Sachs company song:
“Please allow me to introduce myself
I,\’m a man of wealth and taste
Ive been around for a long, long year
Stole many a mans soul and faith”
Baron and the leverage in those funds was never disclosed in the issuing memorandum, right?
So you are saying in the 25 Abacus deals Goldman did from 2004–2008, that there was a memorandum for each disclosing that John Paulson picked mortgages for those deals he expected to default, and then used heavy leverage to short them. I’m guessing that if that were the case, no investors would have added those financial time bombs to their portfolios. Any memorandum Goldman issues is probably just as clear and easily understood as the fine print sent out by the credit card companies. J, living in your parallel universe must be glorious.
“So you are saying in the 25 Abacus deals Goldman did from 2004–2008, that there was a memorandum for each disclosing that John Paulson picked mortgages for those deals he expected to default, and then used heavy leverage to short them.”
Ever worked in a trading house like an I-bank?
For the most part traders don’t give a shit what nearly all customers do if only how it effects flow. I never did. I’ve seen multi-billion trades come from Soros execution desk that were wrong and we went the other way because the size of the trade showed how wrong it was..
So what if Gold Sack shorted to customers. Those pricks were seasoned operators who should have known the risks. They weren’t mom and pop who deserve to be treated differently.
And how exactly did Goldman know they were right, as they put the trade on?
You still haven’t answered my question Archduke Ferdinand? Was there any information about leverage in the offering memo?
Matt Taibbi at Rolling Stone covered this last week.He’s also been covering the financial shenanigans of other banksters lately. Good read. Here’s the link: http://www.rollingstone.com/politics/blogs/taibblog/taibbi-on-spitzer-goldman-worried-about-beheading-20110603
Matt Taibbli is venom filled, left wing sack of shit.
The fucking moron knows nothing about finance having a simple ungrad from a so so college: Bard, which is known for people with more of an interest in English literature. he should stick to wring about the interpretations of Shakespeare.
Fuck him for spreading even more poison.
Taibbi notes that Cyrus Vance, Jr is going after Goldman Sachs. Cyrus Vance, Jr, if he is anything like his dad, who resigned as Carter’s Sec of State over Carter’s goofy Iran hostage strategy, will be no pushover. When I was a kid, Cyrus Vance, Sr, was a family friend. He was the only lawyer that my father everreferred to as honest. Let’s hope that the apple doesn’t fall far from the tree.
And a total and complete failure as a Secretary of State in the second most failed US administration after the present one.
Nothing says you can’t be honest and totally fucking clueless.
Big deal he was honest.
“Nothing says you can’t be honest and totally fucking clueless”
J, you are probably less an expert in honesty than you believe Tiabbi to be in finance. However, you are proving that you have an advanced degree in what it takes to be “totally fucking clueless”. You are a rare breed; both a defender and an apologist for Lloyd Blankfein–the man who is doing “God’s work”. If what Blankfein is doing is God’s work, then there’s not much work left for old Lucifer to do.
No. I think Llloyd is a total prick from two experiences with him when he oversaw the currency trading desk. However he was never dishonest and I don’t think he has been.
But keep listening to Fuckhead Mad Max and BA Lit undergrad Matt Taibbi for you finance news.
To J. Keep going down on GS, its where you belong.
I see there’s another Mad Max Kaiser devotee. Dickhead aren’t you the least embarrassed listening to conspiracy laden trooferism like that. You asshat.
Where the fuck do these Mad Max devotees come from?
Put in a 110% tax on all income above $250K per year. That stops all this shit, and gets the
price of a Yankees ticket down to $5 bucks. I see ZERO downside.
FUCK YOU and the trailer park you come from.
hey J,are you cramer?
Fig