The Goldman DogPile Rages On
Matt Taibbi’s vampire-squid piece has apparently lit a bonfire under the asses of Goldman Sachs bashers everywhere. Not-so-flattering pieces on GS are popping up everywhere. Outlets like Huffington Post, True Slant, and Mother Jones are officially all-over this topic. Even the smallest slip-ups and conflicts of interest are getting in-depth coverage (at least in non-traditional media). A welcome change, to say the least.
For example: On Friday I counted 8 Goldman-critical pieces on Huff Po’s biz home page simultaneously. A blog-search for “goldman sachs” on google will provide hundreds more examples. Mainstream outlets like Time are even getting in on it (in a more restrained way), with pieces like this one, which was featured on Yahoo’s homepage yesterday, “Goldman Sachs’ Financial Boom: A Political Mess for Obama?”
I think Bearish News has published some decent dirt on Goldman in our day, done our share of muckraking. So in the spirit of a good old-fashioned dogpile, I present our finest Goldman Sachs material in chronological order. Skip the first few if you follow this stuff obsessively. But #4 and #6 might surprise even veteran GS conspiracy-theorists.
#1 (1/28/09) – Geithner’s Chief of Staff is Ex-Goldman – “No conflict of interest there. Mr. Geithner’s pick, Mark Patterson, just left Goldman in April. I had hoped for a more unbiased team from Mr. Obama. But this seems like a blatant departure from his pledge to exclude lobbyists from areas where they would be biased.”
#2 (3/03/09) – Goldman Sachs’ Mysterious 2008 Tax Rate – “If they are dodging taxes, the testicular fortitude of these guys is truly impressive. They’re taking taxpayer dollars via the bailouts, shifting profits overseas to avoid paying any taxes, then awarding themselves generous bonuses.”
#3 (3/03/09) – Fox News: “Goldman Sachs Executives Gifted with Public Purpose” – That’s the real title of a 2006 Fox News article praising the revolving door between GS and high-government office.
#4 (4/17/09) – Goldman Squeezes SPG Shorts – Angry rant after GS squeezed a stock I was short (Simon Property). I found some dirt on previous SEC wrist-slaps for similar actions in the past (all alleged, I have no proof of course).
#5 (4/21/09) – Selected History of GS Conviction Buy List – Some of the horrible conviction buy calls made by GS, with price at time of the call.
#6 (5/09/09) – Henry Paulson’s $200m Tax Shelter – Paulson used a little-known rule to unload his $700m in Goldman stock with zero capital gains when he became Treasury Secretary. This was to ensure that Paulson was free from conflicts of interest. Hah. ha. Ugh.
I’m trying not to get my hopes up for any meaningful justice taking place. But the public outrage is really reaching a fever-pitch. Max Kaiser was just on French TV openly calling GS execs scum and calling for them (the whole bunch, I presume?) to be thrown in jail.
3 Comments
Decimal Place Trading caused the recession of 2008
This recession was caused by the manipulation of stock prices on Wall Street through naked short-selling, flash trading, high-frequency trading, secret software, super-fast computers and what I feel was the main cause of this corruption: “Decimal Place Trading.” As I write this article today, much of this corruption is now slowly coming out through social media outlets such as Twitter and Facebook, along with bloggers on the internet, Yahoo bulletin boards, and the movie Stock Shock. The news media is also to blame for what has taken place in this country — including the near-collapse of Wall Street and the banking industry.
There are many things to point fingers at or place the blame on, and I can think of a few off-hand that I would like to cover — the first being Wall Street’s regulation changes. I am no expert — I am not even a writer — but decided to tell this story since the business news media was not telling it. These Wall Street regulation changes contributed to the aforementioned problems in many ways, with the first being the removal of fractions in stock pricing. On January 29, 2001, the New York Stock Exchange, or NYSE, went to four-decimal-place trading. On March 12, 2001, the National Association of Securities Dealers Automated Quotation, or NASDAQ, followed suit. This new rule had the best of intentions as we headed toward the computer and digital world, but over time it was manipulated and companies like Goldman Sachs figured out how to take advantage of the new system. I am not sure how it happened, whether it was lobbied for years or what — but along came the biggest mistake of all with the elimination of the uptick rule in July of 2007. This rule had been implemented after the great depression, and had been in place since 1938. How could the Securities and Exchange Commission, or SEC, abolish a rule that had been in place for close to 70 years, and had worked? Put these two changes together, and you get a simple equation: greed plus corruption equals recession.
Reports have been released on the web that Goldman Sachs made over 100 million dollars per day in 46 out of 64 trading days in Fiscal Year 2009, second quarter (April, May and June). Let me say that again. They made over 100 million dollars per day, and are still doing it as I write this letter today. But the question remains, how did they do it? There has been no report of this by any of the news media. How can this be? This corruption is 100 times the gravity of the Bernie Madoff story, and yet there has been no coverage by CNBC or Bloomberg News. Why? Goldman Sachs, upon Wall Street transitioning to fractions and the abolishment of the uptick rule, designed secret software and used this software to gain an advantage on every potential investor. Basically, Goldman Sachs became a Las Vegas poker dealer in New York City on Wall Street, turning profits on investors every trade with their super-fast computers and software.
Richard Keane August 26th, 2009 Revised version
Rick Aristottle Munariz of the Motley Fools is paid to mislead investors about Sirius XM Radio. He is part of a news media collusion lead by CNBC and their own Jim Cramer. Jim Cramer’s street.com web site is also hip deep into the collusion. Jim Cramer and his writers, especially Scott Moritz are all part of the scandal and it leads upward to CNBC/GE executives and Goldman Sachs. Thank god their is now an investigation taking place with Goldman Sachs. Goldman Sachs was investigated and 10 firms, including Goldman Sachs were fined $1.4 Billion dollars in 2003. Now the full blown investigation by Boston’s Chief Financial Regulator William Galvin will reveal the corruption of Goldman Sachs again and I can only hope that William Galvin will follow the money trail and check the bank accounts of Rick Aristottle Munariz of the Motley Fools along with Scott Moritz of the Street.com Just check these 2 writers banking accounts and the investigation will reveal that they are being paid off to write mis-leading stories about Sirius XM Radio. The money trail from these 2 writers will lead to >>> Motley Fools >>> Street.com >>> Jim Cramer >>> CNBC >>> GE / CNBC executives >>> NAB >>> Goldman Sachs.
It has all been a news media collusion along with the combination of Wall Street corruption by Goldman Sachs to destroy Sirius XM Radio inc. by naked short selling, flash trading, superfast computers, using secret software to manipulate the Sirius XM Stock price in decimal places the past few years since the Siri /XM merger was announce in Jan 2007. It was a pact agreed to by the news media and Goldman Sachs, which is why CNBC keeps reporting positive story after positive story about Goldman Sachs. All are into this collusion knee deep and this is why they will not report Goldman Sachs and their biggest scandal in the history of Wall Street.
Goldman Sachs got greedy. The scandal with Sirius XM Radio, worked so well with their secret software that was making them millions of dollars a day. Well, their Greed expanded into not just naked shorting & decimal place trading Sirius XM radio, but Goldman Sachs, next said , heck this secret software works so well, along with CNBC’s cover up lets do it to our competition the banking industry. Goldman Sachs next used these tactics on the banking industry in 2008 – 2009. They have been protected by CNBC by paying CNBC millions of dollars a month in advertising or shall we say paid protection.
Goldman Sachs greed almost ruined this country when they began using naked shorting and their secret software to attack the banks. It was their Greed of making millions using this software attacking Sirius XM Radio and when they expanded their scandal to the banking industry, they were now making over $100 million dollars a day. This is a fact, as Goldman Sachs made over $100 million dollars a day in 46 of 64 trading days last Quarter 2009 ( April , May, June 2009 ).
CNBC is part of the scandal, taking in million a months from Goldman Sachs for their silence. Why wouldn’t Goldman Sachs pay CNBC millions of month, that was nothing to them, since they are making over $100 million dollars a day. They helped CNBC try to ruin the competition ( Siri ) and now CNBC will help them ruin the other Banks. A true partnership by Goldman Sachs & CNBC.
The scandal lives on today, but thankfully the investigation by William Galvin will be expanded into the news media collusion of CNBC, Motley Fools & Street.com along with many other news media types.
Their Greed and goals have cost the average investors of the World hundreds of billions of dollars the past few years. In the end the truth is going to come out, but how does the people of the World hear the truth when the news media is part of the Scandal.
Well, a few years ago, CNBC & Goldman Sachs would have gotten away with it, but thank you http://www.Satwaves.com , http://www.twitter.com/stockshockmovie and the many social media outlets and bloggers out there. Thank you for helping bring the truth to the World. Each day we get closer and closer to the biggest scandal in the history of the United States. ( Written by Richard Keane – August 30th, 2009 )
Check out this link.
I was contacted by the White House a few weeks ago.
http://www.24-7pressrelease.com/press-release/white-house-curious-about-movie-stock-shock-114735.php
Richard Keane, narrator Stock Shock
http://www.twitter.com/stockshockmovie