Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

riverwalker

(8,694 posts)
Mon Feb 27, 2012, 11:34 AM Feb 2012

Stratfor & Goldman Sachs started hedge fund called Stratcap to trade on illegal inside gov't info

http://wikileaks.org/the-gifiles.html

"Stratfor’s use of insiders for intelligence soon turned into a money-making scheme of questionable legality. The emails show that in 2009 then-Goldman Sachs Managing Director Shea Morenz and Stratfor CEO George Friedman hatched an idea to "utilise the intelligence" it was pulling in from its insider network to start up a captive strategic investment fund. CEO George Friedman explained in a confidential August 2011 document, marked DO NOT SHARE OR DISCUSS : "What StratCap will do is use our Stratfor’s intelligence and analysis to trade in a range of geopolitical instruments, particularly government bonds, currencies and the like". The emails show that in 2011 Goldman Sach’s Morenz invested "substantially" more than $4million and joined Stratfor’s board of directors. Throughout 2011, a complex offshore share structure extending as far as South Africa was erected, designed to make StratCap appear to be legally independent. But, confidentially, Friedman told StratFor staff : "Do not think of StratCap as an outside organisation. It will be integral... It will be useful to you if, for the sake of convenience, you think of it as another aspect of Stratfor and Shea as another executive in Stratfor... we are already working on mock portfolios and trades". StratCap is due to launch in 2012. "
15 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Stratfor & Goldman Sachs started hedge fund called Stratcap to trade on illegal inside gov't info (Original Post) riverwalker Feb 2012 OP
Why do such incredibly stupid people get paid so much? leveymg Feb 2012 #1
Are you referring to the fact that they didn't encrypt their emails? snagglepuss Feb 2012 #9
And I wouldn't be surprised... Oilwellian Feb 2012 #2
the emails are just breaking riverwalker Feb 2012 #3
heres another: Banks illegal money laundering riverwalker Feb 2012 #4
jail the motherfuckers. barbtries Feb 2012 #5
This should be looked into sakabatou Feb 2012 #6
how do we kill goldman sux? pansypoo53219 Feb 2012 #7
This is a wonderful thing. I love Wikileaks. nt Sarah Ibarruri Feb 2012 #8
What sort of charges do they face? snagglepuss Feb 2012 #10
Should be good reading... ellisonz Feb 2012 #11
Bookmarking for later Canuckistanian Feb 2012 #12
Lets have a committee hearing!!!11! progressoid Feb 2012 #13
Don't forget that Obama thinks we should look forward and not backward.. Fumesucker Feb 2012 #14
+ KG Feb 2012 #15

leveymg

(36,418 posts)
1. Why do such incredibly stupid people get paid so much?
Mon Feb 27, 2012, 11:54 AM
Feb 2012

Or do they just prefer to do business with each other?

Oilwellian

(12,647 posts)
2. And I wouldn't be surprised...
Mon Feb 27, 2012, 12:07 PM
Feb 2012

if those within the government who are sharing their information with Goldman, are heavily invested in the scam. How very cozy. It's time to find out who those House and Senate employees are. Where are the replies to this explosive scandal that's breaking?

riverwalker

(8,694 posts)
4. heres another: Banks illegal money laundering
Mon Feb 27, 2012, 12:21 PM
Feb 2012
http://wikileaks.org/gifiles/docs/1115826_re-us-bank-dirty-money-.html

Right. What i'm saying is that Wachovia ALONE handled ~$125 billion per
year in shady cash from Mexico from 2004-2007. And that doesn't even
count the money that stayed in cash, went to the Bahamas or stayed in
Mexico.

That makes the $40 bn per year stat seem pretty miniscule, no?

Fumesucker

(45,851 posts)
14. Don't forget that Obama thinks we should look forward and not backward..
Tue Feb 28, 2012, 09:05 AM
Feb 2012

This seems a lot like looking backward, water under the bridge, no use crying about spilled milk and all that..

My guess is that this will go exactly nowhere.

Latest Discussions»General Discussion»Stratfor & Goldman Sa...