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Thread: SEC accuses Goldman Sachs of civil fraud

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    Re: SEC accuses Goldman Sachs of civil fraud

    Quote Originally Posted by Erod View Post
    Isn't this odd how this case comes out now while Obama is trying to gain a firmer grip on Wall Street through the new regulation reform he's performing?

    This ain't a coincidence, folks.

    And since he took almost $1 million, in campaign conributions from Goldman, I suspect Goldman could be playing the willing participant role to help get that regulation passed. Goldman, like Lehman, is full of liberal contributors.
    That's right. Goldman Sachs is a major player in a conspiracy designed to send their own stock prices tumbling.

    By the by, Goldman Sachs donates to Republicans too. It's called hedging.
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    Re: SEC accuses Goldman Sachs of civil fraud


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    Re: SEC accuses Goldman Sachs of civil fraud

    I remember reading - I guess it was Christmas 2008 - that GS bonuses would be $68 billion for everybody to split. That's mind boggling.

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    Re: SEC accuses Goldman Sachs of civil fraud

    Quote Originally Posted by Kelzie View Post
    That's right. Goldman Sachs is a major player in a conspiracy designed to send their own stock prices tumbling.
    When you pay out the billions in bonuses ahead of time, it's okay to sacrifice Goldman stock for the team.

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    Re: SEC accuses Goldman Sachs of civil fraud

    Quote Originally Posted by Erod View Post
    When you pay out the billions in bonuses ahead of time, it's okay to sacrifice Goldman stock for the team.
    Let me see if I get your conspiracy theory right. Goldman Sachs donate $1 million to Obama, somehow putting them in his pocket (wouldn't it be the other way around?). So to give an example about why reform is needed, the SEC (who must also be in Obama's pocket...can governmental agencies donate to Obama?), charges Goldman Sachs with fraud, driving the total value of GS stock down tens of billions of dollars...all while GS is supposedly still in cahoots.

    Ignoring of course the fact that GS has also donated hundreds of thousands of dollars to the GOP...

    How does this make sense to you?
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    The lawsuit filed against Goldman Sachs . . .

    is utterly absurd. BHO & Company orchestrated this in an attempt to garner support for financial reform.

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    Re: The lawsuit filed against Goldman Sachs . . .

    Quote Originally Posted by 61 Electric Bron-Yr-Aur View Post
    is utterly absurd. BHO & Company orchestrated this in an attempt to garner support for financial reform.
    Please read this: http://www.debatepolitics.com/breaki...0-29-09-a.html

    Your subjective opinion on a subject matter does not meet the criteria. Just FYI.

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    Re: SEC accuses Goldman Sachs of civil fraud

    Quote Originally Posted by Kelzie View Post
    That's right. Goldman Sachs is a major player in a conspiracy designed to send their own stock prices tumbling.

    By the by, Goldman Sachs donates to Republicans too. It's called hedging.
    Then its the most one sided hedging in history

    Goldman Sachs bankers are also the number one contributors to the Barack Obama presidential campaign, giving $691,930 to his campaign in this cycle, according to the records. John McCain's campaign has received substantially less from Goldman Sachs employees, $208,395, although they are, as a group, his fourth largest contributor....

    72 per cent of Goldman's money this year has gone to Democratic candidates
    and the national party, the majority party in Congress.


    Congress Has 43,457,362 Reasons to Help Goldman Sachs - ABC News
    Last edited by texmaster; 04-21-10 at 06:25 PM.
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    Re: SEC accuses Goldman Sachs of civil fraud

    Quote Originally Posted by texmaster View Post
    Then its the most one sided hedging in history

    Goldman Sachs bankers are also the number one contributors to the Barack Obama presidential campaign, giving $691,930 to his campaign in this cycle, according to the records. John McCain's campaign has received substantially less from Goldman Sachs employees, $208,395, although they are, as a group, his fourth largest contributor.

    Congress Has 43,457,362 Reasons to Help Goldman Sachs - ABC News
    Damn it, I left the link up all day yesterday in case someone wanted to say otherwise. Of course I can't find it now.

    You are aware that you don't have to be completely covered to be hedging aren't you? And I wouldn't call several hundred thousand dollars one sided.
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    Re: SEC accuses Goldman Sachs of civil fraud

    Quote Originally Posted by Redress View Post
    SEC accuses Goldman Sachs of civil fraud - Yahoo! News



    Goldman of course denies any wrongdoing. So, this goes somewhat over my head, but I find the topic interesting. Does the government have a solid case here?
    appears folks are exploiting insider information to enrich themselves:

    anyone with an extra thousand bucks and some insider information on friday morning could have made just shy of a million and a half by friday afternoon
    there was a surprisingly large volume in these "out of the money" puts the days before... who in their right mind would bet on such a large fall for such a typically stable company? someone who knew what was coming. maybe someone in the SEC should look into that, too
    the mechanics are quite simple. someone likely from the inside of either the SEC, the Obama administration or possibly (probably?) even goldman sacs (assuming they knew the charges were coming ahead of time) went ahead and purchased a bunch of out of the money put options on goldman a few days before they were set to expire. those puts were nearly worthless until the announcement against goldman was made
    in this case, they were the april 170 puts. before the SEC announcement on friday, GS stock was trading around 180, which would mean that those 170 puts were about to expire completely worthless that day. they were probably trading for pennies that morning before the announcement, since the stock was trading over $10 a share above the put strike price and therefore those puts had no intrinsic value. after the SEC announcement, GS plummeted to 156, which instantly made those 170 puts worth $14 per contract in value
    so, it would appear that someone with insider foreknowledge of the SEC announcement purchased these options that everyone else thought would expire without value. they ended up making a 140,000% gain in one day. nice profit if you can find it ... except it is illegal
    time to investigate; let's see if an inquiry is undertaken - and pursued
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

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