Stacy Summary: Gaddafi famously avoided Madoff, only to invest with Goldman. Within six months, Goldman Sachs lost 98 percent of Gaddafi’s $1.3 billion investment.
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Stacy Summary: Gaddafi famously avoided Madoff, only to invest with Goldman. Within six months, Goldman Sachs lost 98 percent of Gaddafi’s $1.3 billion investment.
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Stacy Summary: Obviously, reserve requirements are, shall we say, not exactly written in stone for the TBTFs.
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Stacy Summary: More feudal news, as we see with the first three from the Straussian elite plundering the masses they make ignorant as we see in the final headline where the opiated masses turn on their sports ‘heros’ while the world around them is plundered.
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Posted in Headlines
Tagged buffett, chamber of commerce, current account targets, geithner, goldman, Headlines, manchester united, medicare
Stacy Summary: There’s a war on.
Wow, down 1.5% 1.77% already. This is a pretty serious hammering.
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| From MaxKeiser.com Images |
Business Insider argues that a merely threatened Goldman investigation by the totally toothless joke of a regulatory body, the Financial Services Authority (FSA) could do that to the pound. I think this chart explains the pounds miserable fortunes this morning:
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| From MaxKeiser.com Images |
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Stacy Summary: Good morning! There is also Goldman joining Nigeria, but it had too many syllables to fit into headline.
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Posted in Max Keiser Audio, Max Keiser Video
Tagged debt, freedomain radio, goldman, greece, max keiser
Stacy Summary: If you read through the entire article, it it quite clear how Goldman is so profitable. They are selling faulty products knowingly and can bet against the insider knowledge. Or, in the case of Greece, they can sell a product that gives them the insider advantage of knowing exclusively of the billions of debts hidden and waiting to explode into public one day. Many claim this is ‘free market’ capitalism, but, if so, then we should allow some increased competition through say the formation of say the Gambino Bank Holding Company.
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Stacy Summary: ‘Arson?’ Or, ‘simple hedge?’ We’ll be asking Janet Tavakoli this on the Keiser Report in the New Year. In the meantime, your thoughts . . .
Update: (Janet Tavakoli just emailed this in response to the above article)
From her website:
Goldman Sachs recently acknowledged that I warned (using fact based analysis) about these grave risks at the time it manufactured value-destroying CDOs, but it said my opinion was in the “minority.” Goldman would have you believe it the financial equivalent of a member of the Flat Earth Society in the lifetime of Galileo Galilei. Just as a competent long-distance navigator does not care how many nonprofessionals are members of the flat earth society, one does not rely on whether an opinion is in the minority or majority as a basis for performing appropriate due diligence when underwriting a securitization. A reasonable man expects a long-distance navigator to have some competence in his craft, and a reasonable man can expect a certain level of competence (and standards) from underwriters. A basic investigation of the underlying collateral revealed grave risks–not reflected by the ratings–compounded by suspect securitization practices. Public money was used to bailout AIG in an extraordinary crisis, and the general public are not sophisticated investors. The argument that AIG was a sophisticated investor no longer applies as a reason to avoid consequences of this behavior.
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