[BIG POPPA]

The German Financial Buyer read the Abacus. They new what they were buying. It is non of their business if someone else is "betting" against it. Disclosure rules. Goldman Sachs lost 90 million on the deal. Yeah Paulson may be a scumbag and got lucky made like 800 million. The timing is suspect. SEC in bed with the feds. They could have pulled the trigger anytime they wanted to shake down Goldman Sachs. The crazy part is a 3rd party non partisan clearing house signed off on the deal.

 

[Ridleyguy]

What is clear to me in this thread, is how misinformation, and a total lack of knowledge of the subject matter can be turned into fact.

 

[BIG POPPA]

Just opinions and points of view.

 

[Ridleyguy]

If the opinions and points of views expressed on headphones gear were of the same quality we would all be wearing tin cans over our ears with a string attaching them together.

Oh, and Big Poppa, I hadn't read your post on this before I posted ...you clearly do understand that these were among the most highly sophisticated CDO investors in the world involved in this transaction, not lambs being led to the slaughter as some have implied.

 

[BIG POPPA]

I'm in the financial industry. Know exactly what they where doing. Ridleyguy, if you see my sig tin cans are way out of my league.

 

[Ridleyguy]

I acknowledged that above Big Poppa.

 

[chadbang]

Quote:

Originally Posted by BIG POPPA /img/forum/go_quote.gif ]Goldman Sachs lost 90 million on the deal. Yeah Paulson may be a scumbag and got lucky made like 800 million.

$3.7 billion

These guys all knew what were going on, they sold other firms and the public into a bum investment. Here's the way it worked:

We have all these shaky mortgages. Goldman Sachs wants to sell them as part of a bond. Moody's (the credit rating agency) isn't behind the idea, they say, "These are risky, we rate them a "B." They have a good chance of failing."

Goldman Sachs says, "Wait, we have an idea. We'll take some mortgages from California, some from Texas, some from Ohio and mix them all together. There's no way that mortgages ALL OVER the country will fail!"

Moody's says "Hm, good idea. Yes, we'll now rate these spread out mortages as having a AAA rating."

Great! Says Goldman Sachs, they start to sell them. Hey, we have AAA rates mortgage bonds for sale! Get 'em while they're hot! But they whisper in secret: "Pssssst. Hey Paulson, we took all these risky mortgages, stuck 'em together and tricked Moody's into giving us a AAA rating.

Paulson: No way! They suck. You know they're going to fail. We're gonna bet on them failing. We'll take out insurance on them failing, death insurance.

They fail. Paulson makes $3.7 billion.

The American public loses their jobs, homes and will be paying off the debt of helping these scumbags recover for the next generation or two.

[size=x-large]EAT THE RICH[/size]
— Motorhead

 

[BIG POPPA]

The part that gets me is that a clearing house OK'd the deal. They should have pulled the plug and not even let it get to the customer.

 

[chadbang]

Yeah! This just moved on the wires. The @#$! is going to come down on GS.

Goldman Sachs e-mails show bank sought to profit from housing downturn

 

[Ridleyguy]

This particular issue has no connection whatsoever to the role credit rating agencies played in the CDO market.

This case involved a so-called "synthetic" CDO, created by way of a selection process, to determine what is known as the "Reference Portfolio" - an underlying portfolio of CDOs selected by mutual agreement (vaguely akin to jury selection), and selected by companies who specialized/were experts in the pricing of CDOs. The CDOs in the reference portfolio already existed and were only used to price the synthetic. It is pure financial engineering.

Whether or not there was any wrongdoing by GS in this case is something the SEC's Civil case will have to sort out.

 

[Hi-Finthen]

Why no whistle blowers , Hmmmmm ???

Every one of them must have profited somehow, got a promotion and "wink-wink" profited both on the way up And in essence pulled collectively 9 trillion out of the "paper" markets, then betting again against the worth of the paper, made money on the way down.

U.S Treasury Bonds is where the smart money parks its cash, if we could only have a HUGE deficit, somehow... Hmmmmmm ???

Nah, that would be too unbelievable to even consider ...

 

[subtle]

Quote:

Originally Posted by chadbang /img/forum/go_quote.gif Yeah! This just moved on the wires. The @#$! is going to come down on GS. Goldman Sachs e-mails show bank sought to profit from housing downturn

Everyone involved needs to be bankrupt and put in jail for twenty years minimum. The gall of these corrupt fat cats is disgusting.

 

[Lazarus Short]

Quote:

Originally Posted by subtle /img/forum/go_quote.gif Everyone involved needs to be bankrupt and put in jail for twenty years minimum. The gall of these corrupt fat cats is disgusting.

They'll do some blame-storming, and throw some low-level VP's to the wolves. That's how the game is played.

 

[Konig]

is anyone surprised that the GS bald guy refused to admit they "consistently and significantly" bet against the product they sell?

I thought he will just say something like "what we did is 100% in accordance with the law blah blah blah and u guys cant do crap about me blah blah blah"

 

[Hi-Finthen]

Where are (and where were)the prosecutors?

Eliot Spitzer on Goldman: Where are the prosecutors? - Bank Reform News | Obama Bank Reform Bill - Salon.com