Is Goldman Sachs in the Middle of the Greek Crisis?

 Goldman Sachs seems to be in the middle of yet another mess.  It appears that they were involved in helping Greece set up some “liars” loans via some complex derivatives trades thus helping Greece to meet EU rules by hiding the extent of its deficit.  Again, this is likely not isolated nor was Goldman alone in this sort of practice.  US investment banks seemed to have preyed on a number of governments, both foreign and domestic, with opaque... Read More

Goldman Sachs: Time to take them to the mat and someone should be going to jail.

  When you take someone to the mat legally, real men don’t bring civil actions when criminal prosecution is far more appropriate.  This particularly applies to investment banker Goldman Sachs.  Actually, “investment banker” is an inappropriate term for them as they’re really little more than a bunch of gangsters.    But I guess when you have a treasury secretary complicit with helping these guys out with a backdoor... Read More

Tim Geithner: Getting his butt kicked

Please see my previous post today on the possibility that Obama’s treasury secretary, Tim Geithner, may see his head  rolling soon here.  Here are a couple of excerpts from the hearing yesterday.  At issue is the use of taxpayer money to bail out AIG counterparties rather than just saving AIG itself and it appears that one of the major counterparties was Goldman Sachs.  In other words, AIG was a conduit to bailout Goldman Sachs and others. This... Read More

Goldman Sachs practices guns and butter

This is from Bloomberg.   Goldman Sachs, a major investment bank and government bailout recipient, is taking a page from Lyndon Johnson’s book  and is trying to craft a guns and butter type deal to escape tarring and feathering. Investment bankers at Goldman Sachs are apparently attempting to arm themselves with guns in the face of public outrage over their record profits after they turned themselves into a bank holding company to get... Read More

Page 1 of 11