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deminks (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 01:16 AM Original message |
How Goldman secretly bet on the U.S. housing crash |
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Double T (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 02:09 AM Response to Original message |
1. YES! The criminals are in charge. |
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INdemo (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 08:08 AM Response to Reply #1 |
12. And Goldman insiders are running our treasury... |
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ThomCat (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 02:09 AM Response to Original message |
2. I hope this gets investigated thoroughly enough, and documented |
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salin (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 07:14 AM Response to Reply #2 |
9. Your description per the fraud and wrong doing becoming so large |
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clear eye (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 08:14 PM Response to Reply #2 |
26. Actually he wouldn't do it unless foreign bankers demanded it. |
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slipslidingaway (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 02:17 AM Response to Original message |
3. knr nt |
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Scooter24 (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 02:27 AM Response to Original message |
4. Goldman provided the market for the loans and was not the lender... |
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No Elephants (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 05:01 AM Response to Reply #4 |
7. Huh? McClatchy is not saying that Goldman was the lender on the mortgages.. |
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ronnie624 (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 11:51 AM Response to Reply #7 |
14. I can't imagine how they didn't understand what they were doing, |
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HamdenRice (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 12:58 PM Response to Reply #4 |
15. While I appreciate a rational, technical discussion of these financial issue for a change... |
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geek tragedy (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 09:32 PM Response to Reply #15 |
27. Such disclosures typically revolved around the credit quality |
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HamdenRice (1000+ posts) Send PM | Profile | Ignore | Mon Nov-02-09 04:35 AM Response to Reply #27 |
29. I've drafted dozens of asset backed security prospectuses back in the 90s |
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geek tragedy (1000+ posts) Send PM | Profile | Ignore | Mon Nov-02-09 09:25 AM Response to Reply #29 |
30. Sure they contain those discussions. But, those statements are generally |
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No Elephants (1000+ posts) Send PM | Profile | Ignore | Mon Nov-02-09 10:09 AM Response to Reply #30 |
32. First, not all investors are highly sophisticated. Second, you are mistaken |
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geek tragedy (1000+ posts) Send PM | Profile | Ignore | Mon Nov-02-09 01:59 PM Response to Reply #32 |
40. They're obliged to disclose facts about the securities themselves. |
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HamdenRice (1000+ posts) Send PM | Profile | Ignore | Mon Nov-02-09 11:16 AM Response to Reply #30 |
36. The point isn't what "usually" is in the general market discussions |
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geek tragedy (1000+ posts) Send PM | Profile | Ignore | Mon Nov-02-09 01:57 PM Response to Reply #36 |
39. But Goldman didn't 'know' that the market |
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No Elephants (1000+ posts) Send PM | Profile | Ignore | Mon Nov-02-09 09:51 AM Response to Reply #27 |
31. A subprime mortgage is, by definition, riskier than other mortgages. Someone had an |
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geek tragedy (1000+ posts) Send PM | Profile | Ignore | Mon Nov-02-09 02:03 PM Response to Reply #31 |
41. If they passed off subprime mortgages as having prime-level |
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Electric Monk (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 03:17 AM Response to Original message |
5. This is old news to folks who were reading Krugman in April '08. nt |
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No Elephants (1000+ posts) Send PM | Profile | Ignore | Mon Nov-02-09 10:22 AM Response to Reply #5 |
34. That was as all was only a few months before August '08, though. Way too late for most investors. |
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barbtries (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 04:27 AM Response to Original message |
6. but will they ever be prosecuted? |
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No Elephants (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 05:30 AM Response to Original message |
8. Goldman Sachs is only the tip of the iceberg. Let's see who had to participate. |
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glowing (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 07:29 AM Response to Reply #8 |
10. +100 You nailed it. |
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grasswire (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 02:07 PM Response to Reply #8 |
17. your list ought to be a separate post (eom) |
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yurbud (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 04:31 PM Response to Reply #8 |
20. pretty much everyone who got an MBA in the last 30 would have served society better as dogfood |
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No Elephants (1000+ posts) Send PM | Profile | Ignore | Mon Nov-02-09 10:13 AM Response to Reply #20 |
33. I do believe there are very ethical people in all fields, including MBA's. |
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yurbud (1000+ posts) Send PM | Profile | Ignore | Mon Nov-02-09 11:32 AM Response to Reply #33 |
37. yes, but if you are attracted to a field with the sole intent of making money |
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no_hypocrisy (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 07:45 AM Response to Original message |
11. It wasn't hard to predict. I saw it coming in the early part of the decade |
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bvar22 (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 01:51 PM Response to Reply #11 |
16. I SAW it in 2005, in New Orleans, after Katrina. |
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DemReadingDU (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 03:12 PM Response to Reply #16 |
18. How could some of us connect the dots |
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No Elephants (1000+ posts) Send PM | Profile | Ignore | Mon Nov-02-09 10:25 AM Response to Reply #16 |
35. No, but hat is when and where you discovered it and I'm glad you did. |
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Mudoria (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 08:57 AM Response to Original message |
13. If they can prove it that would make my day seeing these execs doing the perp walk.. |
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yurbud (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 04:30 PM Response to Original message |
19. can the justice department PLEASE start rounding these bastards up, so us peasants... |
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yurbud (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 04:54 PM Response to Original message |
21. forward this one to white house, justice, your senators, rep, and just for the hell of it, to... |
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yurbud (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 05:17 PM Response to Reply #21 |
22. My letter to Obama: |
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yurbud (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 05:26 PM Response to Reply #21 |
23. My letter to my senators and representatives: |
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yurbud (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 05:33 PM Response to Reply #21 |
24. LETTER TO JUSTICE: |
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bvar22 (1000+ posts) Send PM | Profile | Ignore | Mon Nov-02-09 11:43 AM Response to Reply #21 |
38. They already KNOW. |
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yurbud (1000+ posts) Send PM | Profile | Ignore | Mon Nov-02-09 06:15 PM Response to Reply #38 |
42. If they think enough of us care, they may be forced to act. |
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Fire1 (1000+ posts) Send PM | Profile | Ignore | Sun Nov-01-09 07:17 PM Response to Original message |
25. Yep. Snake oil salesmen or con artists, all. n/t |
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targetpractice (1000+ posts) Send PM | Profile | Ignore | Mon Nov-02-09 12:18 AM Response to Original message |
28. Is prosecution possible or realistic? |
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JohnWxy (1000+ posts) Send PM | Profile | Ignore | Mon Nov-02-09 06:58 PM Response to Original message |
43. Alan Greenspan didn't even think the Government should investigate & prosecute fraud! |
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