http://www.zerohedge.com/article/max-keiser-goldman-sachs-are-scum
Wow, gotta love the honesty!
Agree with the scum analysis.
This is a joke. He works for Al-Jazeera. Lots of jews work at Goldman. Do the math. He just throws terms like scum and criminal around without backing them with fact. GS Forced the closure of LEH and BS? Thats not what happenned. Give us $700B or we take the system down? Their high frequency trading strategy const. How are they scum?
This guy sounds like Glenn Beck to me.
he is not the only one who has joined the dots. GS has the US govt hostage. Paulson, Geithner et al are all in it together with GS. obama is a pussycat.
GS will go down one day. Everyone does. It’s just a matter of time.
billwest Wrote: ------------------------------------------------------- > GS will go down one day. Everyone does. It’s > just a matter of time. question is will US go down before or after.
Matt Taibbi’s article on Goldman Sachs was one of the best articles holding goldman responsible for the Technology, Housing Mortgage and the commodity bubble. Cheaters, liers and scumbags. I am getting a little senti here… though I hope to be employed at GS in near future :), those bastards huh!
You guys are ridiculous!!! Taibbi doesn’t understand the credit crisis at all! Goldman sold CDOs/CMOs and bought CDSs to hedge the exposure left on their books. That is called hedging. This Taibbi moron says that this practice is betting that the CDO’s will drop in price while selling them out the back door. Wrong! Its just a hedge. Its not securities fraud. Its not a bet. Its just sound business practice. I can’t believe people here don’t understand that. This forum has fallen apart since JDV left. joemontana signing out forever.
GS has not yet denied any of his numbers though, and anyways I did see few months back how taxpayers money went via AIG to GS. Hedging against what you sell is the new corrupt practice, in which everyone else dies and you survive on their rotten bodies. Its just ridiculous to see how people blindfold themselves. Wake up! I dont think you understand this, otherwise you would be able to explain it instead of asking for JDV’s opinion. joemontana Wrote: ------------------------------------------------------- > You guys are ridiculous!!! > > Taibbi doesn’t understand the credit crisis at > all! Goldman sold CDOs/CMOs and bought CDSs to > hedge the exposure left on their books. That is > called hedging. This Taibbi moron says that this > practice is betting that the CDO’s will drop in > price while selling them out the back door. > Wrong! Its just a hedge. Its not securities > fraud. Its not a bet. Its just sound business > practice. > > I can’t believe people here don’t understand that. > This forum has fallen apart since JDV left. > > joemontana signing out forever.
This guy is well known to spout anti-American hate and conspiracies all the time. Weeks after the September crash, he was on air and brought a roll of toilet paper and explained that a sheet of toilet paper will soon be worth more an a dollar bill.
What about their change of reporting month?
razedge Wrote: ------------------------------------------------------- > Hedging against what you sell is the new corrupt > practice, in which everyone else dies and you > survive on their rotten bodies. > > Its no different than selling a put and shorting the stock at the same time to hedge your exposure. Or selling a floating rate bond and entering a swap. Or shorting wheat futures if you are a farmer and have a large inventory of wheat. I don’t need JDV’s opinion. I already explained this shit. The forum needs JDV to put the smackdown on people like you. You haven’t even passed LI. You don’t understand this stufff. Yet you spout populist rhetoric that you heard from Barney Frank, Dennis Kucinick and Rolling Stone magaizine. this used to be a good forum. Now I’m signing out
joemontana Wrote: ------------------------------------------------------- > You don’t > understand this stufff. Yet you spout populist > rhetoric that you heard from Barney Frank, Dennis > Kucinick and Rolling Stone magaizine. > > this used to be a good forum. Now I’m signing out You said signing out like 10 hours ago, and then again you appeared, liar! Dude m a financial engineer, I probably know more about derivatives and hedging then you learnt from CFA but then again you are a liar.
joemontana Wrote: ------------------------------------------------------- > You guys are ridiculous!!! > > Taibbi doesn’t understand the credit crisis at > all! Goldman sold CDOs/CMOs and bought CDSs to > hedge the exposure left on their books. That is > called hedging. This Taibbi moron says that this > practice is betting that the CDO’s will drop in > price while selling them out the back door. > Wrong! Its just a hedge. Its not securities > fraud. Its not a bet. Its just sound business > practice. > > I can’t believe people here don’t understand that. > This forum has fallen apart since JDV left. > > joemontana signing out forever. They actually did not go long the CDO and MBS on their books, they marketed them to investors as Investment Grade instruments and the clients bought them, the company had nothing to hedge. Their only exposure was no more than small equity portions in the deals they put together. At the same time, another division of the company was buying insurance from the likes of AIG and other hedge funds, again as a trading position and not to hedge any long position. The point is, if you’re an investment advisor (with all the fiduciary duty cr*p) and you advise your client to buy something, then you turn around and buy puts on that same instrument, it seems unethical at best.
If this is true and they are advising one thing and doing another stricter regulation is needed. The best way to be sure of this is not to allow companies to be involved in so many things. The advisory and the trading parts of the firm would need to be seperate unaffiliated entities. Will never happen though, since GS controls the world.The back office definately didnt control the world when I worked there though!!
No offense intended to JDV. I think too many on this board idolize him and put him up on a pedestal. Try independent thought for once.