Associated Press | The CEO of Goldman Sachs testily defended his company’s ethics and business practices during the nation’s financial crisis on Tuesday, saying customers who bought securities from the Wall Street giant came looking for risk “and that’s what they got.”
“Unfortunately, the housing market went south very quickly,” Lloyd Blankfein told skeptical senators on an investigatory panel. “So people lost money in it.”
Get the full story: Goldman CEO denies wrongdoing in crisis.
There’s a special place in hell for this scumbag who believes he’s doing god’s work.
What a piece of crap Blqnkfein is. How much did he lose? How big are his bonuses? Is he helping out people who have lost everything through no fault of their own?
Gotta couple of questions….
Before the “crash” who had the money?
Who has the money now?
Nuff said.
Hang the bastards!
Fraud. Simple. Go to jail now. Don’t just send the middle management guy. Send the CEOs of these banks and trading houses. A real jail. Not a comfy one like George Ryan inhabits. A real jail. Maybe Tom Dart could put them up over at 26th and Cal.
The Senators asking questions today for the most part have no idea how market makers work. GS wears many hats in terms of their business, and perhaps that’s the root of the problem, but a lot of the questions asked today couldn’t be answered directly because of the many lines of business that they do. Blankfein did a fine job answering questions today, and if you watched the hearing you’d learn a lot about how trading, investing, and market makers work. There are many things that caused the meltdown: stated income mortgage loans, Fannie & Freddie being reckless, Barney Frank, Americans living beyond their means and the mortgage loan sharks that didn’t do due diligence in approving loans, and easy money to name a few. Senator Levin talked in circles today and was probably doing for more of a political show. GS bet against the mortgage market and won. Citi bet for the mortgage market and they lost, so they got bailed out and their stock is around $5. Nothing GS did was illegal. It all became legal towards the beginning of 2000 when the Clinton Administration thought 100% of people should be a homeowner, and that just nonsense. But this is America, and everyone is a victim, right?
The blatant lies astound the imagination, the arrogance and theft is purely evil, fantastic lies and greedy GS officers are 100% to blame.
Read Rule by Secrecy by Jim Marrs – it will tell you all about who’s behind this deliberate effort to take all our wealth and make us slaves. The money changers like blankenfeinstein or whatever his name is are all involved.
Where are the cries from teabaggers about Obama’s “socialist government takeover” of banks like these?
You could have written this article way before this meeting took place.
People invest
the 10 steps of smoke and mirror
1) Suit filed
2) GS denies
3) Scape goats delivered
4) SEC – Gvt. satisfied with scape goats
5) Gvt pretends they did a good job
6) 9 months goes by – people forget
7) GS starts up same investment under different name
9) GS capitalize
10) Share holders happy again
Irwin, the Senators may not know much about market making, but I do. I was in the business. What GS did was not market making. What they did was a sophisticated version of the old “pump and dump” scam, which is fraud. Leave all the other stuff out of this and focus on the the specifics: GS is charged with fraud in a specific case. They are not being charged with causing the entire recession.
Goldman Sachs 1
Clown Car 0
I believe President roosevelt said it best…
Behind the ostensible government sits enthroned an invisible government owing no allegiance and acknowledging no responsibility to the people.