Golddamn was creating a situation WHERE THEY PROFITED if they SABOTAGED the very securities they were selling to investors and clients as Grade-A!!
We will remind readers that the very Neo-Con dominated Bush administration - President George W. Bush's Department of 'Justice' and SEC - RAILROADED Martha Stewart into prison, for the alleged crime of "dumping" a lousy $55,000 of ImClone stock she owned, WHICH Ms. Stewart HAD EVERY RIGHT TO SELL, to anyone, at ANY TIME, on ANY 'hint', from anyone she talked to, because Ms. Stewart had NO, ZERO, NO fiduciary connection with ImClone.
Ms. Stewart wasn't even convicted of "insider trading" or "dumping" stocks - she was railroaded into prison by that Bushian SEC/DoJ prosecution by a CORRUPT JUDGE and prosecutors, under the charges of "LYING to the FBI and federal investigators"!!!
BY THAT STANDARD, FOUR out of FIVE US Big Bank executives, including the entire top raft of Goddamn-Sachs, JPMorgan-Chase, and Citi executives, SHOULD BE IN PRISON!
http://www.mcclatchydc.com/227/story/82270.htmlMeanwhile, Max Keiser over at MaxKeiser.com - (self) forced into exile and reporting from Europe because he is so disgusted at the abject CORRUPTION, COLLUSION, LIES, and deceit of the American press & media, reports that LONDON BANKERS, and the GOD DAMNED LONDON PRESS VULTURES, are TRYING TO IMPOSE a Euro 20,000 tax on EVERY MAN, WOMAN, and CHILD in Iceland, to FORCE Iceland to REPAY SIMILIAR __MASSIVELY FRAUDULENT SECURITIES and loans that London bankers sold to unsuspecting Icelandic investors!
"Goldman Sachs' chief acknowledged Wednesday that the investment bank engaged in "improper" behavior in 2006 and 2007 when it made huge bets on a housing downturn while peddling as safe more than $40 billion in securities backed by risky U.S. home loans."
(starting at 3:40 into the Stacy Herbert political commentary segment of Max's latest video):
*** The US and England government are now TERRORIST EXTORTION agencies working on behalf of the INSANELY GREEDY, predatory, anti-American, and destructive New York and London bankers, and care not whether they are EXTORTING AMERICAN TAXPAYERS and small businesses into extinction, or DECLARING ICELAND to be a "TERRORIST SPONSORING NATION" as an excuse to EXTORT Iceland to make good on those London bankers' FRAUDULENT securities sales to that tiny country! ***
Barack Obama is now MORE CORRUPT than President Bush: Mr. Obama is keeping ALL of President Bush's "war on terror" policies in force (INCLUDING MORE FUNDING, and MORE TROOPS for wars, than at any time in the Bush years - even as US cities face budget shortfalls in THE BILLIONS), and INCLUDING the Dick Cheney & Paul Wolfowitz established far flung US GESTAPO-TORTURE gulag intact, reports to the contrary not-with-standing), and Mr. Obama has INSTITUTIONALIZED the "too big to fail" BAILOUTS - a massive TRANSFER OF WEALTH _from_ American taxpayers TO his BIG, fraudulent bankers - from the mere hundreds of billions of dollars under Bush, Cheney, and Hank Paulson, to TENS of TRILLIONS of dollars under the Obama, Emanuel, Rubin, Summers, Bernanke, and Tim Geithner White House, Treasury, and US Federal Reserve bank.
This content of this (below) UNDERSTATED McClatchy article SHOULD be SHOUTED from the TOP OF EVERY nightly newscast, SHOUTED from above-the-fold headlines in every major American newspaper: "American Taxpayers are BEING FORCED to shell out TRILLIONS of dollars to 'bail out' BANKS and hedge funds that FAILED, DESPITE the FRAUDULENT PROFITS they made, both SELLING GARBAGE 'securities,' AND after COLLECTING the insurance-like payoffs of 'CREDIT DEFAULT Swap' payouts, when the junk securities those banks were selling did indeed fail - The banks and banksters are TRYING TO MAKE A TRIPLE-DIP PROFIT, from THEIR OWN GREED & FRAUD, at AMERICAN TAXPAYER EXPENSE!
(#1. selling GARBAGE securities at top prices through FRAUDULENT sales & accounting.
#2. trying to collect the Credit Default Swap payouts when those 'securities' failed;
#3. running screaming, crying, begging, and extorting to the very consumers and taxpayers they had JUST DEFRAUDED out of billions; for BILLIONS upon TRILLIONS of MORE dollars in "Bailouts" extorted from taxpayers and handed over by the Congress & both Bush & ObamaWhite House!)
Goldman admits 'improper' actions in sales of securities
By Greg Gordon and Kevin G. Hall, McClatchy Newspapers
Wed., Jan. 13, 2010
....Blankfein and senior officers of three other of the nation's most prominent banks told the panel that serious flaws in their risk models and business practices contributed to Wall Street's meltdown and the massive taxpayer bailouts that followed. The commission also heard testimony that the banks and quasi-government mortgage giant Fannie Mae recklessly took on as much as 95 times more risk than they could cover, and that Wall Street excels "at pulling the wool over the eyes of the American people."More articles on Golddamn Sachs Chairman Lloyd Blankfein ADMITTING that his company SOLD FRAUDULENT "securities" that DEFRAUDED American investors, pensioners, and consumers out of BILLIONS of dollars, DIRECTLY PRECIPITATING the economic crisis of 2008:
- This link is TEXT of the hearing's testimony: http://www.fcic.gov/hearings/
- note here how the Neo-Con New York Times Mark Leibovich tries to diminish the hearings into nothing more than a soap-opera, sports stadium "scrum" - WHITEWASHING VAST NEW YORK BANKERS' massive FRAUDS and CORRUPTION, is THE BUSINESS of the insanely corrupt & deceitful NY Times - http://thecaucus.blogs.nytimes.com/2010/01/13/scene-two-from-the-bankers-lineup/