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Goldman Sachs charged with fraud on subprime mortgages

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  • #76
    For all of Drake's professed nonchalance, Goldman's definitely taking this attack against its integrity seriously. Three statements from the bank since Friday...

    I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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    • #77
      Where did I claim that Goldman wasn't going to fight back? I'm pretty sure I implied that they were going to fight back when I said they own Washington and would never allow anything truly bad happen to them...
      KH FOR OWNER!
      ASHER FOR CEO!!
      GUYNEMER FOR OT MOD!!!

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      • #78
        Originally posted by Darius871 View Post
        True. Bates labels 1 through gadzillion will be a fun read for those lowly 2L clerks...
        The FT quotes 8 million pages. So that's what, about 10,000 feet of documents?
        I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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        • #79
          Originally posted by DanS View Post
          The FT quotes 8 million pages. So that's what, about 10,000 feet of documents?

          At the average 0.1mm per page that's roughly 2600 feet, almost the height of the Burj Dubai. Looked at another way, that's about 450 J.D.'s worth of reading. My eyes hurt just thinking about it...


          Unbelievable!

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          • #80
            I like the title of this story:
            White House says Goldman Sachs suit not politically motivated, but definitely helpful
            I make no bones about my moral support for [terrorist] organizations. - chegitz guevara
            For those who aspire to live in a high cost, high tax, big government place, our nation and the world offers plenty of options. Vermont, Canada and Venezuela all offer you the opportunity to live in the socialist, big government paradise you long for. –Senator Rubio

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            • #81
              The problem is not this case for them (GS), which is so weak that it can only be a political gesture, but the door it leaves open for foreign governments etc to sue endlessly.
              "Wait a minute..this isn''t FAUX dive, it's just a DIVE!"
              "...Mangy dog staggering about, looking vainly for a place to die."
              "sauna stories? There are no 'sauna stories'.. I mean.. sauna is sauna. You do by the laws of sauna." -P.

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              • #82
                Obama repaying his masters at Goldman Sachs

                President Obama is sponsoring a bill by the Senate Banking Committee Chairman Chris Dodd(D-CT) that would reward the Financial Firm Goldman Sachs with up to Billions of Dollars. The bill implements a $50 billion resolution fund to the firms creditors through fees that would come from banks and other businesses, which the bill calls a "nonbank financial company." Critics are calling it a "backdoor bailouts" to Goldman Sachs who was already payed $12.9 billion in tax dollars through the bailout of AIG.

                Supporters are denying the bill is a bailout because its demands the removal of some management positions but Financial Crisis Inquiry Commission member Peter Wallison said "that act - paying off the creditors when the government takes over a failing firm - is a bailout. It doesn't matter that the management lose their jobs, or that the shareholders get nothing. When the creditors are aware that they will get a better deal with the failure of a large company than they will get with a small one that goes the ordinary route to bankruptcy, that is a bailout."

                ...

                Obama who's approval rating is plummeting is now trying to promote this bill as a populist measure to regulate corruption on Wall Street. Obama supported the massive bailouts of wall street which Dodd orchestrated from the Senate. Obama's 2nd top source of campaign contributions was from Goldman Sachs, therefore he cannot be trusted to bring reform to our financial sector when they were the ones who brought him into power.

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