TOP GOLDMAN SACHS EXECUTIVES DROWNING LIKE RATS

yakuchu-catIt is with a ton of Schadenfreude that we saw on TV today, Goldman Sach’s genius investors striking a major iceberg. Namely, the top partners used GS stock values as collateral for borrowing Japanese carry trade loans to play the markets!  This is exactly what was forbidden, post 1929 Great Crash!  What is driving all stocks relentlessly down are these ‘margin calls’ and some of these are for men who made many multiples of millions.  Human greed falls for every possible folly.  

 

Goldman Partners Borrow to Cover Margin Calls – Financials * US * News * Story – CNBC.com

Several Goldman Sachs partners have leveraged their Goldman Sachs stock to buy alternative investments such as hedge funds & private equity, and they have done so through their Goldman Sachs brokerage accounts.

But Goldman stock [GS  84.60    -1.11  (-1.3%)   ] has declined in value by more than 50 percent since last spring, meaning that Goldman Sachs is in the awkward position of making margin calls on its own partners, who can’t meet those calls because their alternative investments are underwater and they don’t have enough cash on hand.

 

Ah, all the debates I had with these sorts of guys in the past!  ‘You will get richer if you borrow against your assets and then use it in the stock markets’, they loved to say.  And I always said, ‘Don’t forget the 1920’s, this is how it all fell apart!’  

 

Well, gambling on borrowed money is insane, stupid, venal and ridiculous.  To have an army of spoiled brats telling us on TV and in print, to gamble on money owed on houses, previously bought or held stocks or money owed on anything is pure insanity.  Instead of protecting these Gollum Sachs idiots from their own stupidity, I want them paraded across every Main Street in America wearing a dunce’s hat!

 

‘I borrowed money to gamble,’ should be written on placards hung from their shoulders.  They were NOT ‘investing’ anything, they were ‘playing with borrowed money on borrowed time.’  They swore their GS stocks were worth x number of $ and wanted x number of loans to buy more stocks and thus, look richer and richer.

 

The horror of this mess that amuses me the most is how nearly all, if not all, of the ‘rich’ in America are actually stupid chumps, deep in debt, playing childish games and now, going under.  Donald Trump, the multi-bankrupt gamester, just went bankrupt again!  I wonder how many GS executives bought stocks in Trump’s collapsing tower syndicate?

 

GS: 84.50 -1.21 (-1.41%) – GOLDMAN SACHS GROUP INC – CNBC.COM

goldman-sachs

Goldman says partners hit by margin calls | Deals | Regulatory News | Reuters

Van Praag denied that Goldman was extending loans to executives.

“Sarbanes-Oxley specifically precludes firms from lending or facilitating lending to an executive officer,” he said. “We do not provide partners with loans to cover margin calls.”

Goldman shares fell $3.16, or 3.6 percent, to $82.55 in early-afternoon trade on the New York Stock Exchange.

HAHAHA.  Where did these gnomes borrow their money?  From STANFORD & SONS ?

 

Or maybe HBOS?  Or how about the Royal Bank of Scotland?  The number of possible candidates is endless.  You know, if these high-flying/faux rich bumpkins can’t pay off the creditor banks who are, incidentally, bankrupt, themselves, then they all go…to the Federal Reserve and the US Treasury for a bail out!  Of course!  Arrest them all.  Especially, Bernanke.

 

Whitney Leaves Oppenheimer to Start Own Firm – Financials * US * News * Story – CNBC.com

Meredith Whitney has told CNBC that she is leaving Oppenheimer to start her own firm, the Meredith Whitney Advisory Group…

Whitney plans to launch the new group in early March as a research firm and eventually branch into investment banking.

Whitney had her moment of fame when she said things I have been yelling for years and years.  Congratulations, girl.  She gets her Cassandra Award.  Now, she will try to advise people, how to make money.  I know how to do this.  For example, if you put together a mercenary band of desperadoes, arm them well, train them in basic tactics and make yourself into a drug warlord, you will get rich in a depression.

 

The US was so worried about this, they legalized booze right off the bat in the early 1930’s.  This pulled the rug out from under the Mafia, big time.  So far, the government is refusing to repeat this action so we can assume, for the time being, outside of investing in gold, investing in running a drug cartel is the road to wealth.  Starting a religious cult where you are worshipped as a god is another big money-maker in bad times.  Hmmmm.  OK, who wants to volunteer to worship me?  Heh.  

 

No, I don’t want to end up like the Pope, thank you!  I wish Meredith well and hope she prospers.  But giving out bad news is not a way to attract customers seeking a safe haven.  Safe havens are easy to find, they just don’t make you rich.  You get to survive, though, and in my book, this is something.

 

OPY: 12.35 -0.30 (-2.37%) – OPPENHEIMER HOLDINGS INC – CNBC.COM
oppenheimer1

Looking at the Oppenheimer charts, Meredith’s former employer experienced the exact same financial bubble as Goldman Sachs and all the others.  Some of the others no longer exist and this was due to them running off to the Derivatives Beast, hoping that wild bets on interest rate swap derivatives would be the ticket to Heaven, not Hades.

 

Speaking of Hades, some more news has come out about Standford who wanted to be like his junior emulator, Warren, and skip out of town with the loot after screwing everyone:

 

Bloomberg.com: Worldwide

Stanford Gave Hypothetical Data as Actual Performance 

Stanford Group Co. presented hypothetical investment results as actual historical data in sales pitches to clients, a former executive told U.S. Securities and Exchange Commission officials.

Michael Zarich, a senior investment officer with Antigua- based Stanford International Bank, an affiliate of the investment firm headed by R. Allen Stanford, told SEC officials in a sworn deposition dated Jan. 30 that Stanford was “misleading” in presenting its performance. Zarich ran Stanford’s investment advisory group until December 2005 before being transferred to Antigua.

“So Stanford is using the same sets of numbers under two different headings, one under Hypothetical and one under Historical?” SEC attorney Michael King asks in the deposition. “Correct,” Zarich answers.

Sounds like he could land a job in the Commerce Department!  They always have hypotheticals and try to ignore hard information about trade, etc.  Or maybe he could land a cushy job in the Financial Advisors to the President committee?  I love raw data.  These guys prefer a Blind Dateline.  Heh.  The US has been infested with guys like Mr. Stanford.  Playing the numbers so reality would be concealed, not revealed.  We have a lot of fighting to do to get rid of these con men and clowns.

 

Schumer Vows To Overturn Ban On TARP-Takers Hiring H-1B Workers

A provision in the just-passed $787 billion stimulus package may put new roadblocks in the way of any bank taking TARP money from hiring H-1B immigrant workers, but the debate isn’t over yet.

Senator Charles Schumer (D-NY) now calls the new provisions “counterproductive,” and vows to overturn the near-ban on H-1Bs.

New York City banks, of course, are some of the largest beneficiaries of TARP money and some fo the biggest H-1B hirers.

If Schumer’s bid fails, expect IT infrastructure costs on Wall Street spike — and New York area tech salaries too.

Treason is the easiest thing today.  Chuckie, who has tons of loot from looters, wants to keep the overhead costs of these gnomes as low as possible so they want to import workers while in the US, Americans who worked in the finance industry are pounding the pavements.  I can’t fight the Jewish Mafia that controls a large sector of Wall Street.  But we can hope that someone runs against this guy and dumps him.  Unless we can catch him with his pants down, with a prostitute in DC.  

 

Actually, he is easy to spot!  During the DNC convention in Denver, an ABC camera crew tried to catch him and his ilk going to a special party thrown by Wall Street gnomes and he and his buddies in the DNC got the reporters roughed up by a police goon squad!  

 

Charles E. Schumer relationship map – Muckety.com

senator-schumer

This is just a tiny fraction of Schumer’s web of influence.  OpenSecrets | Donor Lookup: Find Individual and Soft Money Contributors for Chuck Schumer is 241 pages long and is filled to the gills with many a corporate/investment bank/ etc donation.  This is one big, fat, corrupt man.

Top Contributors to Charles E. Schumer (D) during the 2006 Election Cycle
Rank Donor Amount (US Dollars)
1 Goldman Sachs $ 182,590
2 JP Morgan Chase & Co $ 129,800
3 Merrill Lynch $ 127,000
4 Bear Stearns $ 126,400
5 Citigroup Inc $ 111,550
Source: The Center for Responsive Politics’ www.OpenSecrets.org site.
Note: Contributions are not from the organizations themselves, but are rather from 
the organization’s PAC, employees or owners. Totals include subsidiaries and affiliates.

Bill Introduced to Reinstate the Uptick Rule — Seeking Alpha

As some traders are already aware–on January 8, 2009, Rep. Gary Ackerman [D-NY] introduced Bill HR 302 IH in the House Of Representatives to “require the Securities and Exchange Commission to re-instate the uptick rule on short sales of securities.” 

The bill has now been referred to the Committee on Financial Services, and is co-sponsored by: 

Rep. Carolyn McCarthy [D-NY]
Rep. Anthony Weiner [D-NY]
Rep. Carolyn Maloney [D-NY]
Rep. Michael Thompson [D-CA]
Rep. Nita Lowey [D-NY]
Rep. Michael Capuano [D-MA]
Rep. Ed Perlmutter [D-CO]

I have a suggestion: after arresting Chuck Schumer, Congress could pass bills that restore ALL of the Great Depression financial laws and regulations.  Sounds very simple.  Then, we go back to 1960-style taxes with one major proviso: it will be indexed automatically to inflation as it was statistically gaged back in the 1970s, not today’s cooked books!

 

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5 responses to “TOP GOLDMAN SACHS EXECUTIVES DROWNING LIKE RATS

  1. Pingback: TOP GOLDMAN SACHS EXECUTIVES DROWNING LIKE RATS « Culture of Life News

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