Goldman Sachs escapes untouched, yet again.

[truedelphi]

So in a regulatory filing, GS lets the economic world know that it is off the hook for its predatory gambling and then selling those gambles to an unsuspecting public. So what if such maneuvers caused the investors to lose Billions. It's only money, right?

And the SEC apparently has other things to do than tangle with GS.

Only sigh of relief in David Dryden's article: Goldman Sachs still might incur some wrath from the Federal Housing Finance Agency. I guess it will all depend on whether or not those regulators want a job at Goldman's after they have done their stint as "public servants."

Full article here:
http://news.firedoglake.com/2012/08/09/goldman-sachs-escapes-liability-from-sec-in-mortgage-backed-securities-case/

[Po_d Mainiac]

1. They (Shapiro and Co.) don't even bother with the threat

of a sternly worded memo any longer.

In the meantime, any muppets that continue to give the squid their business, should also be reaching for the lubricant.

[Po_d Mainiac]

2. Money Buys CONgress

Sectors Contributing to Members of Senate Banking, Housing and Urban Affairs Committee, 2010 Election Cycle

Sen. Tim Johnson (D-SD), Chair
Sen. Richard C. Shelby (R-Ala), Ranking Member

Finance/Insur/Real Estate PAC's $9,143,913 Individuals $28,667,371
Lawyers & Lobbyists $2,108,274 $18,024,401
....................
Sectors Contributing to Members of House Financial Services Committee

Rep. Spencer Bachus (R-Ala), Chair
Rep. Barney Frank (D-Mass), Ranking Member

Finance/Insur/RealEst PAC's $11,425,875 Individuals $10,106,258
Lawyers & Lobbyists $ 1,021,206 $ 5,424,969
.......................
Senator Charles E. Schumer
Contributor ...........Total................. Indivs....................... PACs
Goldman Sachs $509,540 $476,540 $33,000
Citigroup Inc $440,416 $406,100 $34,316
Morgan Stanley $328,146 $290,700 $37,446
JPMorgan Ch $313,000 $249,000 $64,000

Senator Mitch McConnell
Contributor ...........Total................. Indivs...................... PACs
UBS AG $98,450 $88,450 $10,000
Citigroup Inc $84,500 $64,500 $20,000
JPMorgan $75,575 $35,575 $40,000

[upi402]

3. Plenty of D's on all these legalized bribery lists

I want my country back!

Team Obama is one of the last still propping up these criminal institutions. Who do we vote for to stop this stuff?

[dsteve01]

4. God help us

I don't know what else to say other then "God help us".

It's just brutal out there. We are living in a society so dramatically different from the one Republicans say we are living in. And if Mitt Romney get's his presidency--these regulations, that are in this case not enforced, would be completely taken off the books.

[banned from Kos]

5. Nonsense. Goldman was fined $550 million in 2010. The largest fine ever for

a financial firm.

And "predatory gambling" is not illegal. The stock market has been open since before the Civil War.

[truedelphi]

6. Octafish said it better than I ever could -

And half a billion is nothing to a company that maneuvered itself into receiving undisclosed amounts from a Federal Reserve that bled out trillions.

(By the way, in our modern world, legality and morality are galaxies apart. The fact that someone does something criminal but has first legalized - that doesn't make it moral. Otherwise we could all sleep at night when contemplating the Nazis legalized crimes, Kissinger's legalized bombing campaigns and our atrocious war against the still suffering people of Iraq.)

Octafish's post:

http://journals.democraticunderground.com/Octafish/1003

[blake87]

7. this is a long term fix

as long as the smartest people go to Goldman Sachs to invent ways to trick people we're all screwed. These people need to be inspired to go into public service.