More Bush Economy FAll out- Goldman Sachs Bank Fraud

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More Bush Economy FAll out- Goldman Sachs Bank Fraud

Posted by: Bank Fraud Again ()

Date: April 17, 2010 12:01PM

This is why we need strict regulation on these fucking companies! They'd rob the Americans blind if given the chance. So sick of the corporations pulling this shit!

http://money.cnn.com/2010/04/16/news/companies/sec.goldman.fortune/index.htm?hpt=T2

(Fortune) -- The Securities and Exchange Commission on Friday charged Wall Street's most gilded firm, Goldman Sachs, with defrauding investors in a sale of securities tied to subprime mortgages.

The SEC said it charged New York-based Goldman (GS, Fortune 500) and a vice president, Fabrice Tourre, for their failure to disclose conflicts in a 2007 sale of a so-called collateralized debt obligation. Investors in the CDO ultimately lost $1 billion, the SEC said.

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Re: More Bush Economy FAll out- Goldman Sachs Bank Fraud

Posted by: Bank Fraud Again ()

Date: April 17, 2010 12:03PM

Investors in the CDO ultimately lost $1 BILLION, the SEC said.

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Re: More Bush Economy FAll out- Goldman Sachs Bank Fraud

Posted by: pgens ()

Date: April 17, 2010 12:14PM

The SEC just removed over $10B from GS's market cap, so they have already caused many more times the damage to GS than it allegedly caused to another investment company, not us.

Edited 1 time(s). Last edit at 04/17/2010 12:15PM by pgens.

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Re: More Bush Economy FAll out- Goldman Sachs Bank Fraud

Posted by: Dane Bramage ()

Date: April 18, 2010 10:11AM

lol, you're kidding, right?

Goldman Sachs employees gave just shy of a million dollars to the Obama campaign, ranking second in contributions. Citigroup and JPMorgan ranked sixth and seventh. Goldman Sachs gave Obama four times more than they gave McCain.

This is one big fat ugly chicken that is coming home to roost.

From the right leaning Huffington Post. ;-)

http://www.huffingtonpost.com/bob-ostertag/goldman-sachs-obama-money_b_177611.html

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