Goldman Sachs Charged With Fraud – SEC

Via Reuters:

The Securities and Exchange Commission lawsuit alleges that Paulson & Co, a major hedge fund run by the billionaire John Paulson, worked with Goldman in creating the collateralized debt obligation, and stood to benefit as its value fell, costing investors more than $1 billion.

Fabrice Tourre, a Goldman vice president who the SEC said was principally responsible for creating the product, was also charged with fraud.

So, Goldman Sachs knew the housing market bubble was gonna burst.  So they kept selling sub-prime mortgages, while selling securities BACKED by the sub-prime sales, thereby hedging its bet.  Now, tell me again why the f*ck we give em TARP money?  To sodomize American investors harder, faster, deeper?

While I believe this “cover both sides” investment plan sounds fishy, and may or may be legal, what’s even more fishy is that this suit is more about the latest “O”gasm.  Let me explain…

Mr. Obama needs another evil villain to pass his next Fascist plan to trash the financial community, and bring it under government control.  So meet Goldman Sachs, Mr. Obama’s new villain.

Too early to see how this comes out, but the timing is in no way coincidental.  This was theatrically coreographed by the “Pussification Of America” team to give Mr. Obama another evil vertical to dismantle for control by the (supposedly) benevolent government.


11 responses to “Goldman Sachs Charged With Fraud – SEC

  1. Get an education or at least start reading some real periodical literature like “The National Review” or “Journal of Foreign Affairs” so you can support your side’s positions with genuinely insightful erudition. You tea party folks come off as ignorant, uneducated, mentally and emotionally unhinged to the point of lunacy. TARP was a product of the man whose presidency (the lunatics on the other side of your insane partisanship would call “stolen presidency”) squandered and subsequently eradicated the international goodwill earned our country by its “greatest generation”.

    America’s problem isn’t its government, the problem is its population who refuses to educate itself properly with facts and express itself within the context of intelligent, reasoned, debate then are too weak willed to take real action as a unified group when reason fails. Instead of actually “taking back the country” they stand around with signs and placards yelling at each other so they can get on the local or international news or maybe YouTube.

    Our forefathers, reasoned, intelligent men, are no doubt rolling over in their graves while their enemies are dancing in triumph. They must see the depth and breadth of Americans’ ignorance as an affront to all they hoped to accomplish with the Constitution. An uneducated populace, one that refuses to learn how to differentiate between fact and opinion is easily manipulated.

    Every piece of legislation is available for Americans to read themselves but instead of organizing small groups able study it in its entirety (like one woman I met does with her equally intelligent and involved friends) they listen to entertainers given the label “expert” by their fellow entertainers on television (has anyone here even read Neil Postman) and then begin the bickering. Americans are too lazy to actually download a piece of legislation and read it (much less “study” it) and that is the truest sign of ignorance and slothfulness.

    “People get the government they deserve.”

  2. Mr. Obama needs another evil villain to pass his next Fascist plan to trash the financial community, and bring it under government control. So meet Goldman Sachs, Mr. Obama’s new villain…

    Too early to see how this comes out, but the timing is in no way coincidental. This was theatrically coreographed by the “Pussification Of America” team…

    “Needs a new evil villain…plan to trash the financial community…bring it under government control…timing is in no way coincidental.”

    Beejeebus; yer spending way too much time listening to that gas bag, round mound, of drug addicted, sound…from Palm Beach!

    You sound just like his alter ego…!

  3. Lipton T. Bagg

    Thank you for your comments MD. Your opinions are desired – even when wrong-minded and short sighted.

    The problem IS the government. Not the framework of American government mind you, but rather the malignant malformation it currents enjoys.
    * The government is destroying free market enterprise. Small business – historically the backbone of American industry, is being taxed and regulated into oblivion.
    * Stifling advancements in business and development with onerous regulation and grab-ass control tactics.
    * Working to create a permanent underclass which it can puppet with the “silver spoon” of entitlement, thereby attempting to secure a permanent voting block.
    * Diminishing personal initiative to become (and remain) productive citizens by reducing the incentives of gainful employment.
    * Dismantling national security by creating a climate in which attacks upon America, and Americans is more viable because of the reduced threat of retaliation.
    * Creating a new environment in which this radical liberalism will render government “of the people, by the people and for the people” extinct.

    I am on record as acknowledging Mr. Obama is not singularly responsible to the government mess today. Pres. Bush and Congressional Republicans became willing co-conspirators when they decided to suckle the breast of bloated government and spending without control (or forethought). Mr. Obama has simply upped the ante by adding Socialism and oppression of ideas.

    And MD, so are completely f*cking wrong vis-a-vis “People get the government they deserve.” The American people deserve better – and have been given worse – representation in previous years than any I can remember.

    The one thing we DO agree on MD, is the slothful nature of American politic intercourse. People as a whole have forgotten that citizenship is not simply a spectator sport, nor is it for the weak of heart. It requires initiative, courage, focus and yes, self-education. There are many factors at work here – all of which lie at the feet of government and voters equally. Our declining educational system bears some blame inasmuch as schools today are less about education than political activism (see Oregon, Univ. of California and recently San Juan Capistrano school district for examples).

    The fact is that until the Tea Party movement began, most citizens were content to be politically apostate. Not for lack of caring, but because they felt disconnected and disenfranchised from the political system. And because they are no longer taught that not voting is still a vote – albeit one in which you relinquish the outcome.

    “If you choose not to decide, you still have made a choice” – Getty Lee

    If there is nothing else to thank Tea Partiers for, it is the revival of true grass-roots political activism in America. Of course in response, Progressive opposition become louder and more boisterous – but having the population active and thinking – regardless of the side of the aisle you believe in – is better than no activism at all.

    Finally, with regard to your assertion:

    “…You tea party folks come off as ignorant, uneducated, mentally and emotionally unhinged to the point of lunacy…”

    The Tea Party are none of these things. Tea Party participants are generally happy, festive and at the same time firmly in opposition to what they believe is wrong with the state of government today. There is no one who could not stand to learn more, but ignorant they are not. They are smart enough to see that todays government is crap, and it needs to be changed. And that’s far less ignorant than the throngs of Liberal apologists out there today.

    As always, one man’s opinion – YMMV.

  4. Lipton T. Bagg

    Oh Gramps, how little you know. I rarely listen to Rush (not that I don’t agree with many of his ideas).

    Besides, I have windbags like you here keeping the atmosphere warm and polluted with diatribe, why do I need another?


  5. Lipton T. Bagg


    The malfeasance of the Goldman Sachs/Paulson investment portfolio was known as far back as 2007. In January of 2007, internal emails signaled the imminent demise of the fund.

    Goldman Sachs could have been charged by the SEC as early as 2008. TARP funds could have been withheld as a result of a civil suit or SEC investigation. And likely should have been.

    The Bush Presidency may or may not have been privy to this. Again, if they allowed it to happen, they again share the blame. This does not relieve the current Administration from re-funding a failed and possibly criminal activity.

    I stand by the assertion that timing is everything. Mr. Obama is starting his next run at the financial community with new regulation, control and a second try at “Cap and Tax”. This suit coming at this time does two things – it slaps a face on his effort to ram through new legislation, and it’s meant to divert focus from the continuing heath care debate.

    Nope, not a coincidence by any means.


  6. Lipton T. Bagg // April 16, 2010 at 1:06 pm wrote: “Oh Gramps, how little you know. I rarely listen to Rush (not that I don’t agree with many of his ideas).”

    L.T.B. it always amazes me; how all great minds [ yours’ and Rush] often, think alike.

    Should Paulson, be goin’ to jail?

    • Lipton T. Bagg

      JOHN PAULSON (no relation to Hank Paulson, former Goldman CEO) may very well be next.

      The government will have a harder time with that becausePaulson and Co. Inc. is not a publically owned company, therefore not subject to typical public disclosures. There is also no evidence at this time of insider trading, non public disclosure or material knowledge unavailable to typical investors. Proving any of these conditions could amount to insider trading and subsequent charges.

      If any of the above comes to light as part of the civil suit against Goldman Sachs, J. Paulson will absolutely be charged – and if evidence supports that charge – he should be tried and punished to the fullest extent of the law.

    • Lipton T. Bagg

      As to whether Hank Paulson is pulled into this, I do not know enough yet to say. But the same rules apply to Hank and John – if he’s guilty, convict and punish him.

      Better yet, if convicted, distribute his holdings to the private citizens who lost their funds when the investment vehicle tanked. As if that would ever happen…


  7. “Pussification Of America”

    That’s another one of El Rushbo’s “dead ringer’s”…!

  8. Lipton T. Bagg

    “Pussification Of America” is not Rush’s, although I’m proud you think so. Being disparaged by mindless liberal wonks like you is a badge of honor.


  9. Lipton T. Bagg // April 16, 2010 at 1:49 pm wrote: “Pussification Of America” is not Rush’s…”

    Mon apologies LTB…I shudda known better!
    There’s no finer mixmaster of words or turner of phrases then yer ownself…!

    Gramps send…

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