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Goldman Sachs, above the law?
Boring7
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The whole thing is 6 pages of how the banking industry willfully created the financial meltdown and how Goldman Sachs not only saw it coming but took illegal action to make it worse in order to benefit.
It seems akin to killing all your siblings in order to be the most loved child.
some choice quotes:
Between this and Sheriff Joe, I gotta wonder; does the Justice department just not exist?
It seems akin to killing all your siblings in order to be the most loved child.
some choice quotes:
"This is the dog that didn't bark," says Eliot Spitzer, who tangled with Goldman during his years as New York's attorney general. "Their whole political argument for a decade was 'Leave us alone, trust us to regulate ourselves.' They not only abdicated that responsibility, they affirmatively traded against the entire market."
The day he received the Sparks memo, Viniar seconded the plan in a gleeful cheerleading e-mail. "Let's be aggressive distributing things," he wrote, "because there will be very good opportunities as the markets [go] into what is likely to be even greater distress, and we want to be in a position to take advantage of them." Translation: Let's find as many suckers as we can as fast as we can, because we'll only make more money as more and more shit hits the fan.
Thanks to an extraordinary investigative effort by a Senate subcommittee that unilaterally decided to take up the burden the criminal justice system has repeatedly refused to shoulder, we now know exactly what Goldman Sachs executives like Lloyd Blankfein and Daniel Sparks lied about. We know exactly how they and other top Goldman executives, including David Viniar and Thomas Montag, defrauded their clients. America has been waiting for a case to bring against Wall Street. Here it is, and the evidence has been gift-wrapped and left at the doorstep of federal prosecutors, evidence that doesn't leave much doubt: Goldman Sachs should stand trial.
Between this and Sheriff Joe, I gotta wonder; does the Justice department just not exist?
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We can talk for a hundred pages about how No Man is Above the Law, but the reality is that certain people in the United States who have a large enough bank account or powerful enough political office do not have to answer to the law, and odds are there is nothing that we can do about it.
Sheriff Joe's consistent history of dickery along with a group of morbidly rich men who have no qualms with bankrupting thousands to become ever richer with no consequences whatsoever proves this. Not to mention celebrity drug cases or political sex scandals.
Until we find a force more motivating to the human spirit than greed, as long as a person is capable of "buying their way out of it" they will never be held accountable to the law.
We'll all sit around wondering how the fuck our country got to this point while the GS execs are laughing all the way to the bank.
Their subordinates may be in danger, but so long as they retain a certain amount of money and influence they will remain immune. Someone near the top at Goldman Sachs is basically a merchant prince.
This is one of the main reasons why the republicans want to issue paycuts to congress. Less pay means fewer staffers to read through all the necessary documentation. The GOP will still be okay, however, because they can foot the bill to the corporate sponsors, or simply trust their corporate sponsors to sift through the information directly.
http://www.youtube.com/watch?v=CM9R2h9ub8Q
Assume, for a minute, that they don't own any Congressmen. Now, if anyone, like from the State or Justice departments, or what have you, goes after them, they just take down the economy. They've proven they can do it, and I'm sure they would and be just fine if they did. And unless they collapse the economy so much that the dollar isn't worth anything at all, they'll be fine. What do they care? They have enough money that they'll still be living well, as well as their children and probably grandchildren.
And no one will have the guts to try to call them on it because of what they can do.
Pfft. This already happened and they sailed on untouched.
You are ignoring the ability to use marketing and political connections to redirect the public's anger away from you.
That's a good way of putting it. Unless Blakenfein et al somehow manage to fall out of favor - to become so toxic that it's better to take somebody else's money and stop protecting them - nothing is going to happen to them.
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That's it, I'm voting for Ron Paul and digging a bomb shelter.
Burn it all down and get some post-apocalyptia up ins.
I don't think they did break the law. I think they just did stuff which is immoral and horribly bad for society and SHOULD be illegal.
(It's also worth noting that most of these individuals are/were good friends with people like Henry Kissinger & Ayn Rand, which should tell you a lot about where the boundaries of their ideological universe lie).
It's sort of like asking, during the Bush years, whether Halliburton was 'above they law'. Of course they weren't - they didn't need to be. They had their former chairman as the country's Vice President.
that's why we call it the struggle, you're supposed to sweat
Yes.
Both Sheriff Joe and Goldman Sachs are like a bad plot in a barely A-list movie.
Anyone trying to investigate Joe is arrested on totally not trumped up charges, and Goldmans top is sitting in a penthouse burning the ants below to make money.
If it actually had been movies everybody would comment on how unrealistic the plots were.
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Island. Being on fire.
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Wouldn't Goldman just hire blackwater to attack itself in "combat zones"?
UK banks (HSBC, RBS, Lloyds) are a little bit less evil, we still have issues with the way they do shit but they aren't at Illuminati / Shadow Government levels of evil like Sachs seem to be.
I think GS need to be careful about the idea of "crashing the economy", you say they would be ok (the top level anyway) but their employees wouldn't, without whom they would be fucked, and frankly if ANY group of people are going to lose their shit when you take the toys away it's the USofA, a very well armed nation no less.
I know it sounds far fetched but if enough people believe the reason they are catching rats to eat is some fatcat suit living in an ivory tower you can be damn sure the well armed and angry US population will burn that shit to the ground.
Ever head of a little place called Monaco. If they burned the US to the ground, then why would they stay there.
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Island. Being on fire.
http://www.thisamericanlife.org/radio-archives/episode/405/inside-job
http://www.propublica.org/article/all-the-magnetar-trade-how-one-hedge-fund-helped-keep-the-housing-bubble
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Well, they got one good year out of it, and that's the important thing isn't it?
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Island. Being on fire.
It gets so much better. He's now building R2 in the UAE, an 800 member battalion of foreign troops for the crown prince of Abu Dhabi.
Reading the article will take care of that question for you.
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IMF head charged for doing to maid what he gets paid to do to the world's poor.
http://www.reuters.com/article/2011/05/15/us-strausskahn-arrest-idUSTRE74D29F20110515?feedType=RSS
Soooo... should we just start calling the UAE "Outer Heaven" now, or do we wait until they stage a coup and it's official?