Clipmarks | Goldman sachs Clips

The Great American Bubble Machine

Fri, 03 Jul 2009 19:25:41 GMT

clipped by: sincitykitty
clipper's remarks: The first thing you need to know about Goldman Sachs is that it's everywhere. The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.

Clip Source: www.rollingstone.com

The Great American Bubble Machine

In Rolling Stone Issue 1082-83, Matt Taibbi takes on "the Wall Street Bubble Mafia" — investment bank Goldman Sachs. The piece has generated controversy, with Goldman Sachs firing back that Taibbi's piece is "an hysterical compilation of conspiracy theories" and a spokesman adding, "We reject the assertion that we are inflators of bubbles and profiteers in busts, and we are painfully conscious of the importance in being a force for good." Taibbi shot back: "Goldman has its alumni pushing its views from the pulpit of the U.S. Treasury, the NYSE, the World Bank, and numerous other important posts; it also has former players fronting major TV shows. They have the ear of the president if they want it." Here, now, are excerpts from Matt Taibbi's piece and video of Taibbi exploring the key issues.

Matt Taibbi On Goldman Sachs' Big Scam

Is Goldman Sachs a vampire squid?

Fri, 03 Jul 2009 16:02:22 GMT

clipped by: egoldstein
clipper's remarks: I'll be the first to admit that i don't understand Goldman Sachs well enough to have an opinion here - though they do seem to have their tentacles deep into all aspects of the federal government wherever money is concerned. That said, this introduction to Goldman Sachs in an article from Rolling Stone are so powerfully worded that i felt compelled to amplify them.

Clip Source: www.rollingstone.com

The first thing you need to know about Goldman Sachs is that it's everywhere. The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.

What you need to know is the big picture: If America is circling the drain, Goldman Sachs has found a way to be that drain — an extremely unfortunate loophole in the system of Western democratic capitalism, which never foresaw that in a society governed passively by free markets and free elections, organized greed always defeats disorganized democracy.

Tags: goldman sachs

Will Goldman Sachs BUY California ?

Fri, 03 Jul 2009 07:26:45 GMT

clipped by: leevardi
clipper's remarks: read full artcle to get the drift

Clip Source: solari.com

Thanks to Matt Taibbi’s wonderful article “The Great American Bubble Machine,” I was inspired to do some more bailout math.

It looks to me like Goldman Sachs won big on the bailout. They got a $13 billion windfall from the AIG bailout. They got a $10 billion bailout in TARP that they paid back when they were ready. They got to become a bank holding company so they can raise capital using the FDIC credit. Can you imagine how cheap your borrowing rates would be if you could offer your creditors a federal guarantee? So your credit card rate would be 2% instead of 36%.

OK, the Fed lent the big banks $8.7 trillion. However, it is secret where that went. So we will not even count how much Goldman got from that or how much they made lending that money back to the U.S. government to finance the deficits that are increasing daily, in no small part thanks to Goldman.

Goldman Sachs DROOLS over CAP AND TRADE

Thu, 02 Jul 2009 22:57:44 GMT

clipped by: leevardi

Clip Source: rightsoup.com

Goldman Sachs Drools Over Cap And Trade

Clip Source: rightsoup.com

The revolving door between the world’s most powerful investment bank, Goldman Sachs, and the government has long twirled round. The firm has provided most of the personnel for the Treasury department and the Federal Reserve…and has come out smelling like a rose in the financial meltdown which has decimated many of its’ competitors.

Obama’s insane energy plan, Cap and Trade, will be another bonanza for the uber-rich and oh-so-lucky firm that has it’s tentacles entrenched at the highest levels of power in our country. The new carbon-credit market is a virtual repeat of the commodities-market casino/scam that’s been kind to Government Sachs, except it has one nifty new feature: If the plan goes forward, the rise in prices of carbon credits will be government-mandated. Goldman won’t even have to rig the game! It will be rigged in advance.

Matt Taibbi explains in this month’s Rolling Stone:

Is Goldman Sachs a Sociopath Corporation ?

Thu, 02 Jul 2009 11:04:44 GMT

clipped by: leevardi

Clip Source: zerohedge.blogspot.com

Zero Hedge

"ON A LONG ENOUGH TIMELINE, THE SURVIVAL RATE FOR EVERYONE DROPS TO ZERO"

Clip Source: zerohedge.blogspot.com

Goldman Sachs: "Engineering Every Major Market Manipulation Since The Great Depression"

With a subtitle like "From tech stocks to high gas prices, Goldman Sachs has engineered every major market manipulation since the Great Depression - and they're about to do it again" run, don't walk, to your nearest kiosk and buy Matt Taibbi's latest piece in Rolling Stone magazine. One of the best comprehensive profiles of Government Sachs done to date. Speaking of GS, they sure must be busy today, now that Bernanke is about to be impeached and take the fall for all their machinations.

Mr Turnbull..Didn't you work for Goldman Sachs ?

Thu, 02 Jul 2009 11:02:33 GMT

clipped by: leevardi
clipper's remarks: and how did you acquire your substantial wealth....

Clip Source: zerohedge.blogspot.com

Zero Hedge

"ON A LONG ENOUGH TIMELINE, THE SURVIVAL RATE FOR EVERYONE DROPS TO ZERO"

Clip Source: zerohedge.blogspot.com

Goldman Sachs: "Engineering Every Major Market Manipulation Since The Great Depression"

THE BIG TAKEOVER

Thu, 02 Jul 2009 09:35:13 GMT

clipped by: Antara
clipper's remarks: full read @ Rolling Stone

Clip Source: www.rollingstone.com

It's over — we're officially, royally fucked. No empire can survive being rendered a permanent laughingstock, which is what happened as of a few weeks ago, when the buffoons who have been running things in this country finally went one step too far. It happened when Treasury Secretary Timothy Geithner was forced to admit that he was once again going to have to stuff billions of taxpayer dollars into a dying insurance giant called AIG, itself a profound symbol of our national decline — a corporation that got rich insuring the concrete and steel of American industry in the country's heyday, only to destroy itself chasing phantom fortunes at the Wall Street card tables, like a dissolute nobleman gambling away the family estate in the waning days of the British Empire.

The Dirty Dozen: Meet the bankers and brokers responsible for the financial crisis - and the officials who let them get away with it.

Tags: great global warming scam, goldman sachs, rolling stone

The Next Really Scary Bubble

Thu, 02 Jul 2009 09:21:14 GMT

clipped by: leevardi

Clip Source: solari.com

The Next Really Scary Bubble

If you think the housing and credit bubble diminished your financial security and your community, or the bailouts, or the rising gas prices did as well, hold on to your hat. The worst may be yet to come. Carbon trading is gearing up to make the housing and derivatives bubbles look like target practice.

Here are some comments on H.R. 2454, the American Clean Energy and Security Act of 2009:

“economic colonization of the heartland”

-Rep. Geoff Davis (R-Kentucky)

“a scam”

-Rep. Devin Nunes (R-California)

“Carbon markets can and will be manipulated using the same Wall Street sleights of hand that brought us the financial crisis.”

-Rep. Dennis Kucinich (D-Ohio)

The best description to date can be found in Matt Taibbi’s wonderful article, “The Great American Bubble Machine: From tech stocks to high gas prices, Goldman Sachs has engineered every major market manipulation since the Great Depression - and they are about to do it again.”

The Great American Bubble Machine

Wed, 01 Jul 2009 17:52:13 GMT

clipped by: sincitykitty
clipper's remarks: Goldman Sachs staff will receive the biggest bonuses in the firm's 140-year history this year.
This is a MUST READ!

Clip Source: www.boingboing.net

Goldman Sachs staff will receive the biggest bonuses in the firm's 140-year history this year. In Matt Taibbi's epic Rolling Stone piece this month, he describes the financial firm as "a great vampire squid wrapped around the face of humanity"; and "the planet-eating Death Star of political influence". Sounds about right. Rolling Stone doesn't have a copy online, but there's one here. It's a must-read.

A Bubble

Wed, 01 Jul 2009 16:38:47 GMT

clipped by: fgviva
clipper's remarks: The Gov, must think they are farmers and we are sheep!!!!!!!!

Clip Source: market-ticker.org

Conspiracy To Hide Bubble-Formation

In yet another move to make a mockery of so-called market transparency, and again with mad props to Zerohedge, we have this:

The Exchange has filed with the SEC to implement the decommissioning of the DPTRrequirement following the July 10, 2009 trade date. Accordingly, the last required submission of the DPTR will be on July 14, 2009, which is the second business day after the last trade date for which the DPTR is required.

Go read the entire Zerohedge article; what this means, in short, is that the ability of people (like you and I) to see the fact that a handful of banks, most specifically Goldman Sachs, constitute the majority of NYSE trading volume - and they're trading for their own book, not for customers, will no longer be disclosed.

Tags: politics

Goldman Sachs/NYSE end transparency

Wed, 01 Jul 2009 13:55:31 GMT

clipped by: deb2012
clipper's remarks: In a move set to infuriate and send many Zero Hedge readers over the top, the NYSE has taken action to make sure that nobody will henceforth be able to keep track of the complete dominance that Goldman Sachs exerts over the New York Stock Exchange. This basically ends our weekly Program Trading updates disclosed every Thursday indicating that Goldman has singlehandedly captured all of NYSE's program trading.

http://www.zerohedge.com/

Clip Source: www.businessinsider.com

Each week, Zero Hedge has been posting data from the NYSE showing which firms were the most active in program trading, and invariably the leader would always be Goldman Sachs (GS) by a mile.

It wasn't clear what it all meant, but it certainly fed into the idea -- which many people have -- that Goldman Sachs pulls the market's strings.

Well, no more disclosure. The NYSE has halted these disclosures for reasons that are unclear, but which clearly seems to violate the ostensible move twards more transparency in financial markets.

Here's their whole memo:

Accordingly, the last required submission of the DPTR will be on July 14, 2009

Tags: stock market

Goldman Sachs robs America

Mon, 29 Jun 2009 15:55:32 GMT

clipped by: mirna_bollettino_conservative
clipper's remarks: Goldman Sachs uses TARP money for bonuses

Clip Source: www.laserguidedloogie.com

Goldman Sachs uses TARP money for bonuses

US banks still world’s best practice in failure

Mon, 29 Jun 2009 11:19:43 GMT

clipped by: tabsey

Clip Source: www.crikey.com.au

Most American economists and the big end of Wall Street are ignoring the increasing failure rate among American banks, such is their desire to glimpse the bottom of the recession.

On Friday, five small local banks failed across the US; four were shut, one was sold off in the bloodiest day in US banking for years. That took this year’s total bank closures to 45, up from 25 in all of 2008 and just three in 2007. More banks have failed so far this year than in the last three years in the US, and 2009 is on track for well over 100 failures.

Using the cheap money provided by the Fed (0.25% cost), the JPMorgans, Goldman Sachs and Morgan Stanley are off hiring staff, paying big salaries, playing the markets, funding hedge funds and generally acting as if the December quarter and their near death experiences didn’t happen. For Bank of America and Citigroup, times are not as carefree, but they safe from collapse at their own hands.

Tags: dunno

Foreclosure Fiasco/ Obama Bush Plan Not Working..!

Sun, 28 Jun 2009 21:28:42 GMT

clipped by: TJColatrella

Clip Source: www.alternet.org

Foreclosure Fiasco Continues: The Bush-Obama Strategy of Throwing Billions at Banks Doesn't Work

By Robert Scheer, Truthdig. Posted June 27, 2009.

Americans are now $14 trillion poorer. Many who thought they were middle class have now joined the ranks of the poor.

It's not working. The Bush-Obama strategy of throwing trillions at the banks to solve the mortgage crisis is a huge bust. The financial moguls, while tickled pink to have $1.25 trillion in toxic assets covered by the feds, along with hundreds of billions in direct handouts, are not using that money to turn around the free fall in housing foreclosures.

As The Wall Street Journal reported Tuesday, "The Mortgage Bankers Association cut its forecast of home-mortgage lending this year by 27% amid deflating hopes for a boom in refinancing." The same association said that the total refinancing under the administration's much ballyhooed Home Affordable Refinance Program is "very low."

Tags: foreclosures, bail outs, sub primes, banks, obama, geithner, bernanke, bilderberg group, goldman sachs

suck on our yachts

Sun, 28 Jun 2009 08:07:30 GMT

clipped by: doodleicious
clipper's remarks: this is a short paragraph fro an article about Goldman Sachs- and their non-apology about ruining the world economy- there is much more at the source- but i felt that this one paragraph summed it up well............

Clip Source: www.alternet.org

This isn't really commerce, but much more like organized crime: it was a gigantic fraud perpetrated on the economy that wouldn't have been possible without accomplices in the ratings agencies and regulators willing to turn a blind eye. Imagine a meat company that bred ten billion rats, fattened them on trash and sewage, ground their bodies into chuck, and then sold it all as grade-A ground beef to McDonald's and Burger King, right under the noses of the USDA: this is exactly the same thing, only with debt instead of food. We're eating it, they're counting the money.

Tags: goldman, sachs