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Last post 5 years ago by delta1. 23 replies replies.
Goldman Sachs is @ it A.G.A.I.N. W/ 1MDB SCANDAL
Mr. Jones Offline
#1 Posted:
Joined: 06-12-2005
Posts: 19,359
$2.7 Billion in fraud....
Several SACHS PLAYERS IN THIS BOND FIASCO and a Malaysian politician...
$6+ Billion in negotiated Bond lending to the Malaysian Govt...$2.7 skimmed of the top...by a few crooks...
Overcharges in bond fees...people living like millionaires buying yachts , mansions, famous artwork...
You know...ALL the usual bullcrap...

As always...Goldman Sachs denies all charges.
Abrignac Offline
#2 Posted:
Joined: 02-24-2012
Posts: 17,217
Matt Taibbi wrote a serious of very telling articles related to Goldman regarding our on bailout related crisis. Very in-depth and telling.
delta1 Offline
#3 Posted:
Joined: 11-23-2011
Posts: 28,754
Obama f'ed up when he decided not to prosecute and imprison some of the finance and banking peeps whose actions led to the Great Recession...

with the pull-back of Dodd-Frank regulations, the industry will do what it has always done...seek out ways to take money from all the rest of us to maximize their own profits...
ZRX1200 Offline
#4 Posted:
Joined: 07-08-2007
Posts: 60,476
Well the first paragraph
frankj1 Offline
#5 Posted:
Joined: 02-08-2007
Posts: 44,211
hate her all you want, but Warren has been warning us...
delta1 Offline
#6 Posted:
Joined: 11-23-2011
Posts: 28,754
I don't hate her at all...hope she throws her feath....errr...hat... into the ring...seriously...

big business has been winning so much in the last two years...with little or no benefit to the average American, who will be stuck with paying off massive debts that the Trump tax cuts (that further enriched the wealthy and big business) will cause in the next decade...

...the average tax-payer will also be on the hook for the costs, monetary and public health, of environmental damage that will be result from Trump's de-regulation of EPA rules, allowing big business to foul the air and water for profits...
frankj1 Offline
#7 Posted:
Joined: 02-08-2007
Posts: 44,211
delta1 wrote:
I don't hate her at all...hope she throws her feath....errr...hat... into the ring...seriously...

she will, but I'd rather she stay in the Senate.
I think she is unelectable nationally.
delta1 Offline
#8 Posted:
Joined: 11-23-2011
Posts: 28,754
maybe...but that's what a buncha experts said about Trump...

the polarized climate and Trump's flaws prolly give her a better chance now, then during normal times, because more people will be motivated to vote...and will likely not sign up for 4 more Trump years, and choose any alternative, like they did with Hillary...

but if any other GOP is on the ballot, you're prolly right...
Phil222 Offline
#9 Posted:
Joined: 10-01-2017
Posts: 1,911
delta1 wrote:
the average American, who will be stuck with paying off massive debts that the Trump tax cuts (that further enriched the wealthy and big business) will cause in the next decade...

...the average tax-payer will also be on the hook for the costs, monetary and public health, of environmental damage that will be result from Trump's de-regulation of EPA rules, allowing big business to foul the air and water for profits...

Don't forget the wall. I'm beginning to think Mexico isn't gonna pay for that thing...Cool
ZRX1200 Offline
#10 Posted:
Joined: 07-08-2007
Posts: 60,476
Tax cuts don’t cause deficits.
deadeyedick Offline
#11 Posted:
Joined: 03-13-2003
Posts: 16,957
delta1 wrote:
Obama f'ed up when he decided not to prosecute and imprison some of the finance and banking peeps whose actions led to the Great Recession...

with the pull-back of Dodd-Frank regulations, the industry will do what it has always done...seek out ways to take money from all the rest of us to maximize their own profits...


I thought that was the idea of a business. Maybe they should be altruistic?

I do agree that a bunch of Wall Street types should have been prosecuted right along with anyone who was falsifying loans including thousands of home buyers.
Abrignac Offline
#12 Posted:
Joined: 02-24-2012
Posts: 17,217
ZRX1200 wrote:
Tax cuts don’t cause deficits.



Truer words have never been spoken.

But, if you cut revenue, you better be willing to cut expenditures. If you think cutting taxes alone is going to reduce the deficit, you damn sure need to be conservative when you estimate the dividends.
Abrignac Offline
#13 Posted:
Joined: 02-24-2012
Posts: 17,217
When cutting expenditures make sure the cuts don’t strangle strategic agencies like Tillerson did to State.
delta1 Offline
#14 Posted:
Joined: 11-23-2011
Posts: 28,754
deadeyedick wrote:
I thought that was the idea of a business. Maybe they should be altruistic?

I do agree that a bunch of Wall Street types should have been prosecuted right along with anyone who was falsifying loans including thousands of home buyers.



legit profit making is the norm...not fraudulent ways to separate the common man from his money, like the banks did then, with help from an over-zealous credit rating service...

the myth that so many poor people flooded the market for interest free loans persists...there was a housing bubble and home mortgage banks did their part to drive up hysteria...banks departed from standard practices, thinking they had to rush in and grab their share of the pie, so they gave loans to anyone who walked in their doors, and actually helped the poor and uninformed fill out the loan docs...

after the crash, insiders of home mortgage bankers said loan officers were directed by upper management to steer any customer away from standard loans and into the interest free ARM's, which they all intended to flip to corporate bankers who were anxious to buy and bundle...
Abrignac Offline
#15 Posted:
Joined: 02-24-2012
Posts: 17,217
delta1 wrote:
legit profit making is the norm...not fraudulent ways to separate the common man from his money, like the banks did then, with help from an over-zealous credit rating service...

the myth that so many poor people flooded the market for interest free loans persists...there was a housing bubble and home mortgage banks did their part to drive up hysteria...banks departed from standard practices, thinking they had to rush in and grab their share of the pie, so they gave loans to anyone who walked in their doors, and actually helped the poor and uninformed fill out the loan docs...

after the crash, insiders of home mortgage bankers said loan officers were directed by upper management to steer any customer away from standard loans and into the interest free ARM's, which they all intended to flip to corporate bankers who were anxious to buy and bundle...


Hadn’t heard about the interest free loans. I do recall the income and credit standards being relaxed. Not sure how that dove tails with credit rating services.
frankj1 Offline
#16 Posted:
Joined: 02-08-2007
Posts: 44,211
delta1 wrote:
legit profit making is the norm...not fraudulent ways to separate the common man from his money, like the banks did then, with help from an over-zealous credit rating service...

the myth that so many poor people flooded the market for interest free loans persists...there was a housing bubble and home mortgage banks did their part to drive up hysteria...banks departed from standard practices, thinking they had to rush in and grab their share of the pie, so they gave loans to anyone who walked in their doors, and actually helped the poor and uninformed fill out the loan docs...

after the crash, insiders of home mortgage bankers said loan officers were directed by upper management to steer any customer away from standard loans and into the interest free ARM's, which they all intended to flip to corporate bankers who were anxious to buy and bundle...

and balloon mtgs!
the banks had virtually zero risk..

and them days will be back if the trend continues.
delta1 Offline
#17 Posted:
Joined: 11-23-2011
Posts: 28,754
Abrignac wrote:
Hadn’t heard about the interest free loans. I do recall the income and credit standards being relaxed. Not sure how that dove tails with credit rating services.


I can't fully explain it, but I strongly urge you to read "Too Big to Fail" by Andrew Sorkin. This is an easy to read blow by blow account of the Great Recession, starting with the fall of Lehman Bros and then Bear Stearns, all while describing the financial fraud behind the fall...
frankj1 Offline
#18 Posted:
Joined: 02-08-2007
Posts: 44,211
no-income-verification-loans.
great idea.

lending on 110% current home value.
also great.

no bank risk...the best of all!
Neil Bush
delta1 Offline
#19 Posted:
Joined: 11-23-2011
Posts: 28,754
in a nutshell: securitizing mortgages and getting double A credit ratings by putting pressure on Moody's and Standard and Poor (they were in the pockets of some of the biggest banks) in order to sell this junk before the mortgage holders all foreclosed when the ARM period expired...
frankj1 Offline
#20 Posted:
Joined: 02-08-2007
Posts: 44,211
the great trickle down...or as the future VP (the late George Bush) called it during the nomination race "voo-doo economics"
delta1 Offline
#21 Posted:
Joined: 11-23-2011
Posts: 28,754
the greatest Ponzi scheme of all-time, run by a small time investment company first, then the big boys, including Duetsche, caught on and ...boom...

if you like good non-fiction that is up-to-date and down the middle, read this book "Too Big to Fail"

another book, "Dark Money" also is highly recommended...looks into campaign finance...even DED was pizzed enough to recommend it...
Abrignac Offline
#22 Posted:
Joined: 02-24-2012
Posts: 17,217
delta1 wrote:
in a nutshell: securitizing mortgages and getting double A credit ratings by putting pressure on Moody's and Standard and Poor (they were in the pockets of some of the biggest banks) in order to sell this junk before the mortgage holders all foreclosed when the ARM period expired...



Gotcha. I thought you were referring the consumer credit bureaus.

I think we found a topic on which we share much more common ground than otherwise.
delta1 Offline
#23 Posted:
Joined: 11-23-2011
Posts: 28,754
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