Goldman Sachs vs. SEC - by the_grip
the_grip on 16/4/2010 at 15:39
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http://www.nytimes.com/2010/04/17/business/17goldman.html?src=tptw)
Looks like the big bear on the block (Goldman Sachs) is finally getting some SEC attention.
All I can picture is Mad Max Beyond Thunderdome. Tina Turner is the SEC, Goldman is represented by Master Blaster. SEC threatens Goldman with sanctions, Goldman dumps the security markets in response to threats and asks:
Master Blaster: "Who run barter town?"
Tina: "Goldman."
Master Blaster: "I can't hear you."
Tina: "GOLDMAN."
Master Blaster: "Market embargo, lifted."
The big gold bear is a large beast indeed.
Rug Burn Junky on 16/4/2010 at 16:12
I'm not allowed to respond to this thread. :(
d0om on 16/4/2010 at 17:03
But RBJ, since you have responded once *anyway* you might as well respond in detail? :p
Bluegrime on 16/4/2010 at 17:38
Is it good that the government is taking on money sponges, or is it bad that free enterprise is being constrained by big brother?
Decisions, decisions..
CCCToad on 16/4/2010 at 20:08
People out there (besides Glenn Beck) actually think Goldman Sachs represents free enterprise?
Thief13x on 17/4/2010 at 05:22
hmm, if nothing else it does make you wonder what the hell is going on behind the scenes
Nicker on 17/4/2010 at 07:01
Quote Posted by Thief13x
hmm, if nothing else it does make you wonder what the hell is going on behind the scenes
Same shit that has always gone on behind the scenes; the few who have it are writing the rules and orchestrating the schemes that let them take more of it from the vast majority of us.
CCCToad on 22/4/2010 at 18:02
Still more news coming out on this one, including coverage of incredible lobbying efforts and the fact that Goldman was Obama's top contributor.
On another note, I find it humorously ironic how certain employees of Goldman Sachs will bitch and moan endlessly about the evil corporations that are out to screw every American out of their hard earned money while talking with a perfectly straight face about how their own extravagant lifestyles and bloated salaries are justified.
After all, they DESERVE it for being so smart that they can scam entire counties out of millions of dollars.
CCCToad on 22/4/2010 at 18:09
Quote Posted by Nicker
Same shit that has always gone on behind the scenes; the few who have it are writing the rules and orchestrating the schemes that let them take more of it from the vast majority of us.
On an aside, its scary that I actually agree with Nicker. In this case however, its more statistically true than anything else: both the treasury and the SEC have always had large numbers of Goldman Sachs alumnus in key positions, and they
edit: another link, written by a former Goldman banker, that describes why the current reform bill is useless.
: (
http://www.alternet.org/economy/146428/speculating_banks_still_rule__ten_ways_dems_and_dodd_are_failing_on_financial_reform)
Tocky on 23/4/2010 at 04:50
What ETspoon said was depressingly accurate:
Quote:
So what if a bunch of unwashed, Jesus-loving working class schnooks are unemployed? Keeps the cost of labor down. And through years of clever and not-so-subtle propaganda the dumb fucks of the laboring middle classes are at each other's throats and in the mood to burn down Washington, D.C. Life is great for the Investor class and its coordinator class lapdogs. They are after all modern America's philosopher-kings.
And as all good philosopher-kings they have concocted a noble lie that a "free market" economy is something akin to a force of nature. To the four forces that hold the universe together, gravity, electromagnetism, the strong and weak nuclear forces, add the "free market." As I interpret this noble lie, the "free market" economy works independent of human control much like gravity say. Its effects can be observed and quantified but human intervention to change the course and behavior of the "free market" are doomed to failure. The best way for mere humans to interact with the "free market" is to let it work its magic with as little human intervention as possible.
At least that's what these fuckers tell us. They know its bullshit. They know that the economy does not work like a gigantic farmers' market. They know that their profits go up when competition--that catch phrase of the capitalist catechism which if we groundlings chant it enough will produce low prices-- is stifled.
I have no idea why I ever thought they wouldn't sack and loot thier own country. I guess we can always watch John Paulson and invest as he does. Christ the power he has to be able to set up such a scam to line his pocket and then escape unscathed. You almost admire it in a prince of darkness way.