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  1. #1
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    Default Goldman blasted for conflicts of interest

    Goldman blasted for conflicts of interest - Apr. 13, 2011

    NEW YORK (CNNMoney) -- A Senate panel issued a scathing report Wednesday that describes Goldman Sachs as a "case study" of the recklessness and greed on Wall Street that set off the 2008 financial crisis.
    According to the report, Goldman told investors in a CDO called Hudson that its interests were "aligned" with those of the investors. However, the report said Goldman held 100% of the short side of the CDO and had "adverse interests to the investors."
    This is a company that is out of control,do what they want and for the most part get away with it..



  2. #2
    It's 5 o'clock somewhere

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    Default Re: Goldman blasted for conflicts of interest

    Quote Originally Posted by crazy View Post
    Goldman blasted for conflicts of interest - Apr. 13, 2011




    This is a company that is out of control,do what they want and for the most part get away with it..

    Yes, we probably wont see anyone held accountable for the lawlessness, unless the suits throw a hapless midlevel manager under the bus.

  3. #3
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    Default Re: Goldman blasted for conflicts of interest

    They were in charge of the CSPF for a long time. until last year.

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    Default Re: Goldman blasted for conflicts of interest

    Nobody makes money like Goldman Sachs. They can smell it 4 miles away. They were selling the credit default swaps (CDS) that almost forced YRC into bankruptcy the end of '09..the first debt for equity swap. Good thing Jimmy Hoffa exposed it and and had them swap the bonds for junk equity to save 25,000 jobs. Thanks for doing that, Jim.

    Those CDS holders would have made money on a YRC failure. But hey, this is all legal business on Wall St. No crime was ever committed by Goldman Sacks other than an employee making an insider trade now and then.

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    Default Re: Goldman blasted for conflicts of interest

    Quote Originally Posted by bean View Post
    Nobody makes money like Goldman Sachs. They can smell it 4 miles away. They were selling the credit default swaps (CDS) that almost forced YRC into bankruptcy the end of '09..the first debt for equity swap. Good thing Jimmy Hoffa exposed it and and had them swap the bonds for junk equity to save 25,000 jobs. Thanks for doing that, Jim.

    Those CDS holders would have made money on a YRC failure. But hey, this is all legal business on Wall St.No crime was ever committed by Goldman Sacks other than an employee making an insider trade now and then.
    Right you are Bean but sorry to say the only ones that you hear about are the ones that get caught and I wonder what percentage of wall St that is...



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    Default Re: Goldman blasted for conflicts of interest

    Quote Originally Posted by crazy View Post
    Right you are Bean but sorry to say the only ones that you hear about are the ones that get caught and I wonder what percentage of wall St that is...


    A lot of them are doin time

  7. #7
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    Default Re: Goldman blasted for conflicts of interest

    Quote Originally Posted by bean View Post
    A lot of them are doin time
    Yeah but What percentage gets caught??? I would say that for every one that gets caught,999 get away with it.That is why it is so tempting ...

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    On A Mission

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    Default Re: Goldman blasted for conflicts of interest

    Quote Originally Posted by bean View Post
    A lot of them are doin time
    They ought to do time in the same places the rest of the countries thieves go..not their own hotel type prisons.

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    Default Re: Goldman blasted for conflicts of interest

    Quote Originally Posted by crazy View Post
    Goldman blasted for conflicts of interest - Apr. 13, 2011




    This is a company that is out of control,do what they want and for the most part get away with it..


    My question is what are they going to do about it. Someone needs to pay for what happened to our economy and so far, here it is going on three years later and I don't see anything happening.

  10. #10
    Getting In The Groove Now.

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    Default Re: Goldman blasted for conflicts of interest

    Quote Originally Posted by ABFwife View Post
    My question is what are they going to do about it. Someone needs to pay for what happened to our economy and so far, here it is going on three years later and I don't see anything happening.
    Unfortunatly we the working stiffs are the only ones paying for their greed.

 

 

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