Jun 14

Libya sues Goldman Sachs for lost $1.2bn, claims hookers & private jets used as bribes:

Libya’s national investment fund is attempting to claw back $1.2 billion from nine trades it carried out with Goldman Sachs in 2008, which supposedly came about after the bank used prostitutes, private jets, and five star hotels to secure contracts.

Libya’s national investment fund is attempting to claw back $1.2 billion from nine trades it carried out with Goldman Sachs in 2008, which supposedly came about after the bank used prostitutes, private jets, and five star hotels to secure contracts. Continue reading »

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Jun 07

Goldman Sachs Fires Ex-Porn Star Over… Ethics?

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Jun 01

Goldman Fires Dozens Of Investment Bankers:

Following an abysmal quarter for investment banks around the globe, which saw salary cuts across the board as a result of sliding revenues in virtually all product areas, we forecast that the next logical step will be ongoing major layoffs of some of the world’s highest paid employees. This morning none other than the most insulated from global financial troubles bank confirmed just this when Bloomberg reported that Goldman had quietly cut investment banking jobs in the last few weeks, joining securities firms that are adjusting to a slowdown in deal activity. Continue reading »

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May 29

Emails Show Obama Administration Using Goldman Sachs Lobbyists to Pass TPP:

(COMMONDREAMSA series of emails released Friday show what activists describe as “collusion” between U.S. Trade Representative Michael Froman and Wall Street executives to push for the passage the controversial Trans-Pacific Partnership (TPP).

The emails (pdf), obtained through a Freedom of Information Act (FOIA) request by the group Rootstrikers, which organizes against money in politics, include a message to Froman from a managing director at Goldman Sachs urging him to push for “robust commitments” on Investor-State Dispute Settlement (ISDS) provisions—which allow private corporations to sue governments for perceived loss of profits—to be included in the divisive trade deal. Continue reading »

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May 18

How Is This Not Criminal: Goldman Underwrites $2 Billion Tesla Stock Offering Hours After Upgrading Stock To A Buy:

Call it criminal deja vu, all over again: “Morgan Stanley and Goldman, Sachs & Co. are acting as lead joint book-running managers for the offering, with Deutsche Bank Securities, Citibank, and BofA Merrill Lynch acting as additional book-running managers.”

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May 05

Trump-Clinton

As I’ve said here: Did Bernie Sanders Just Go Full Establishment?:

All candidates are “full establishment” …

… and Hillary is the worst of them all.

You have no choice. None.

More info on elite puppet Donald Trump down below.


Trump-Satanic-Hand-SignDonald-Trump-666-hand-sign

Trump Picks Former Goldman Partner And Soros Employee As Finance Chairman:

In an oddly ironic twist, today Donald Trump announced that he has picked as chairman of his newly launched fundraising operation none other than a former employee of the bank he has repeatedly criticized in the past, and which he used as a foil to criticize Ted Cruz: Goldman Sachs.

Trump announced that heading up his own personal fundraising operation as national finance chairman will be Steven Mnuchin, a long-time business associate, chairman and CEO of the hedge fund Dune Capital. More importantly, however, he spent 17 years at Goldman Sachs where he was most recently a Partner, having built a fortung of $46 million before launching his own hedge fund.

While employed at Goldman, he purchased the remains of IndyMac Bank (now known as OneWest Bank), the Pasadena, California-based mortgage lender that collapsed in 2008. “Notoriously press-shy, the executive endured 2011 protests on the lawn of his Bel Air mansion by foreclosed homeowners angered at his lender’s handling of soured mortgages.”

Steven Mnuchin (PRNewsFoto/Relativity Media)

As Zero Hedge readers are familiar, Trump often critized his main competitor Ted Cruz for his links to the bank because of loans used to finance Cruz’s Senate campaign, and because Heidi Cruz was a one-time employee of Goldman. “I know the guys at Goldman Sachs. They have total, total control over him. Just like they have total control over Hillary Clinton,” Trump said in one debate. Continue reading »

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Apr 13

buffett-blankfein


Goldman and Wells Fargo FINALLY Admit They Committed Fraud:

Goldman Sachs has finally admitted to committing fraud.  Specifically, Goldman Sachs reached a settlement yesterday with the Department of Justice, in which it  admitted fraud:

The settlement includes a statement of facts to which Goldman has agreed.  That statement of facts describes how Goldman made false and misleading representations to prospective investors about the characteristics of the loans it securitized and the ways in which Goldman would protect investors in its RMBS from harm (the quotes in the following paragraphs are from that agreed-upon statement of facts, unless otherwise noted):
Continue reading »

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Apr 11

A fine for doing God’s work?

Goldman Sachs CEO Lloyd Blankfein: I’m doing ‘God’s work’

Doing Gods Work


Goldman Slammed With $5.1 Billion Fine For “Serious Misconduct” In Mortgage Selling:

Hot on the heels of Wells Fargo’s $1.2 billion settlement, Bloomberg reports that Goldman Sachs will pay $5.1 billion to settle a U.S. probe into its handling of mortgage-backed securities involving allegations that loans weren’t properly vetted before being sold to investors as high-quality bonds.

“This resolution holds Goldman Sachs accountable for its serious misconduct in falsely assuring investors that securities it sold were backed by sound mortgages, when it knew that they were full of mortgages that were likely to fail,” said Acting Associate Attorney General Stuart Delery.

As AP reports,

The Justice Department announced a $5 billion settlement with Goldman Sachs over the sale of mortgage-backed securities leading up to the 2008 financial crisis. Continue reading »

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Mar 15

Deutsche Bank Derivative Implosion have been confirmed by the pending sale of $1.1 TRILLION in derivatives to 3 US big banks:

JPMorgan, Goldman Said to Discuss Buying Deutsche Bank Swaps

~Lender looking to complete sale of $1.1 trillion swaps book

~Deutsche Bank has sold about two-thirds of book since 2015

Deutsche Bank AG, the lender exiting some trading operations, is in talks with JPMorgan Chase & Co., Goldman Sachs Group Inc. and Citigroup Inc. to sell the last batches of about 1 trillion euros ($1.1 trillion) in complex financial instruments, people with knowledge of the matter said. Continue reading »

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Feb 07

Ron Paul Slams Cruz And Hillary: They Are Both “Owned By Goldman”:

Now that Rand Paul is out of the race for the White House, Politico’s Eliza Collins reports that his father Ron Paul, who ran in 2008 and 2012, isn’t impressed by Ted Cruz’s attempts to pick up the “free market” libertarian banner.

“You take a guy like Cruz, people are liking the Cruz — they think he’s for the free market, and [in reality] he’s owned by Goldman Sachs. I mean, he and Hillary have more in common than we would have with either Cruz or Trump or any of them so I just don’t think there is much picking,” Paul said of the Texas senator on Fox Business’ “Varney & Company” on Friday.

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Jan 24

Hillary’s Response When Asked If She Will Release Her Goldman Sachs Speech Transcripts:

During the lest Democratic debate on January 17, Hillary Clinton made several populist comments that aimed to show she is “one of the people” and that, like all other candidates, she would aggressively pursue not only bank fraud, but would go after bankers themselves. As we tweeted at the time, these were some of her more prominent soundbites:

  • “no bank should be too big to fail and no individual too powerful to jail”
  • “I am going to defend president Obama for taking on Wall Street and getting results”
  • “I go after the big banks, I am the one the hedge funds are up against”
  • “we are at least having a vigorous debate about reining in Wall Street”

And then there is the reality: as none other than the NYT reported two days ago, Goldman Sachs alone paid Hillary $675,000 for three speeches in three different states, a fact Hillary’s main challenger, Bernie Sanders, has highlighted repeatedly.

Hillary-Clinton-Lloyd-Blankfein Continue reading »

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Jan 20

Goldman Sends Out Chart Showing U.S. In Recession, Promptly Retracts It:

Earlier today, Goldman’s global macro strategist team led by Noah Weisberger released a report titled “Markets do not “Take it Easy” to start the year”, which had one very disturbing slide, i.e., “Exhibit 8.” – disturbing, because it showed that according to Goldman’s Current Activity Indicator, the US was effectively in recession; certainly disturbing enough for us to immediately tweet it with just one comment: “Oops”:

In case it is not readily visible, here it is again:

Exhibit 8: Our market-based US growth risk factor is at post GFC lows

20150120_GSEx8_orig

This was the accompanying Goldman commentary:

Continue reading »

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Jan 15

Heidi Cruz And Ted Cruz

According to Wikipedia:

In 2003, she worked for the Bush administration on economic policy.[1][11] Eventually becoming the director for the Western Hemisphere on the National Security Council under National Security Advisor Condoleezza Rice in 2003.[1][10][12] She left Washington DC in 2004 to support her husband’s run for elective office in Texas.[13] In 2005, she joined Goldman Sachs, serving as a private wealth manager[14] and is currently the Region Head for the Southwest Region in the Investment Management Division of Goldman Sachs in Houston.[1][10][15] She had served as vice president for seven years before the promotion in 2013.[16] She took a leave of absence without pay for her husband’s 2016 presidential campaign.[13] Continue reading »

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Dec 30

Nuclear-War

Financial Armageddon Approaches: U.S. Banks Have 247 Trillion Dollars Of Exposure To Derivatives:

Did you know that there are 5 “too big to fail” banks in the United States that each have exposure to derivatives contracts that is in excess of 30 trillion dollars?  Overall, the biggest U.S. banks collectively have more than 247 trillion dollars of exposure to derivatives contracts.  That is an amount of money that is more than 13 times the size of the U.S. national debt, and it is a ticking time bomb that could set off financial Armageddon at any moment.  Globally, the notional value of all outstanding derivatives contracts is a staggering 552.9 trillion dollars according to the Bank for International Settlements.  The bankers assure us that these financial instruments are far less risky than they sound, and that they have spread the risk around enough so that there is no way they could bring the entire system down.  But that is the thing about risk – you can try to spread it around as many ways as you can, but you can never eliminate it.  And when this derivatives bubble finally implodes, there won’t be enough money on the entire planet to fix it. Continue reading »

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Nov 04

Doing Gods Work

God’s Work – How Goldman Sachs Scammed a Utah Program Meant to Help Preschool Children:

Goldman Sachs announced last month that its investment in a Utah preschool program had helped 109 “at-risk” kindergartners avoid special education. The investment also resulted in a $260,000 payout for the Wall Street firm, the first of many payments that is expected from the investment.

Yet since the Utah results were disclosed, questions have emerged about whether the program achieved the success that was claimed. Nine early-education experts who reviewed the program for The New York Times quickly identified a number of irregularities in how the program’s success was measured, which seem to have led Goldman and the state to significantly overstate the effect that the investment had achieved in helping young children avoid special education.

Goldman said its investment had helped almost 99 percent of the Utah children it was tracking avoid special education in kindergarten. The bank received a payment for each of those children.

The big problem, researchers say, is that even well-funded preschool programs — and the Utah program was not well funded — have been found to reduce the number of students needing special education by, at most, 50 percent. Most programs yield a reduction of closer to 10 or 20 percent.

– From the New York Times article: Success Metrics Questioned in School Program Funded by Goldman

Just when you think “Too Big to Fail and Jail” Wall Street can’t stoop any lower, they go ahead and exceed expectations. The following story is so base, so disgusting, and so completely void of any semblance of ethics, it could only have been achieved by the Vampire Squid itself. Continue reading »

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Nov 03

S&P Puts Too-Big-To-Fail US Banks On Ratings Downgrade Watch:

Having watched the credit markets grow more and more weary of the major US financials, it should not be total surprise that ratings agency S&P just put all the majors on watch for a rating downgrade:

*JPMORGAN, CITIGROUP, GOLDMAN SACHS, STATE STREET CORP, MORGAN STANLEY MAY BE CUT BY S&P

Despite all the talking heads proclamations on higher rates and net interest margins and ‘strongest balance sheets’ ever, S&P obviously sees something more worrisome looming. This comes just hours after Moody’s put Bank of Nova Scotia on review also (blaming the move on concerns over increased risk appetite).

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Oct 28

From the article:

“Anyone else found to have obtained at least “35 confidential documents” from the Fed on at least “20 occassions” would be sent straight to jail with a prison sentence anywhere between several decades and life.  Goldman’s punishment? 0.6% of its 2014 Net Income.”

0.6%? Remember, Goldman is still “doing God’s work”.


Goldman Sachs The Vampire Squid

The Full Details Of How Goldman Criminally Obtained Confidential Information Form The New York Fed:

Two days ago we reported that the saga of Rohit Bansal, Goldman’s “leaker” at the Fed is coming to a close with the announcement of a criminal case filed against Goldman’s deep throat who had previously spent 7 years at the NY Fed, and was about to spend some time in prison, and who had been providing Goldman with confidential information sourced from his contact at the NY Fed for months, as a result of which Goldman would be charged a penalty. Continue reading »

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Sep 08

FYI.


Description:

Vinyl rip from my personal collection. Best audio on the net.

This 3x LP record set documents the activities of a secret society known as The Illuminati, and their New World Order.

Mr. Fagan describes with documentary evidence how the ILLUMINATI became the instrument of the House of Rothschild to achieve a “One World Government”.

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Aug 29

Fake Goldman Sachs bank found in China (RT, Aug 27, 2015)

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Aug 18

“The Goldman blowback is a particularly challenging subject to understand and analyze. Taken to extremes, criticism of the firm, which was founded and built by Jewish Americans, smacks at times of anti-Semitism. Fed officials don’t want to fall into the trap of ostracizing qualified people merely because of their association with the firm or its Jewish roots.”

– John Hilsenrath

Flashback:

Former Israeli Minister: ‘It’s a Trick, We Always Use It.’ (calling people ‘anti-Semitic’)


vampire squid

No Jon Hilsenrath, It Is Not “Anti-Semitic” To Criticize Goldman Sachs (ZeroHedge, Aug 18, 2015):

Yesterday, in the aftermath of the Dallas Fed’s grotesque hire of a former Goldman banker, Robert Kaplan (while former Dallas Fed president Dick Fisher is now collecting a sallary from Barclays, where he is now a “Senior Advisor“) even some “very serious people” employed by the WSJ were shocked by this blatant flaunting of central bank capture by Goldman Sachs: consider that in addition to all the other global power posts currently held by Goldman alumni, three of the Fed’s 12 presidents are now Goldman Sachs alumni.

As a further reminder, it is not just the Fed – the Goldman alumni network has quietly, and not so quietly, over the past few years taken over Europe as well: Continue reading »

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Aug 09

Goldman Hires Former Head Of NATO To Deal With DONG Scandal (ZeroHedge, Aug 9, 2015):

Back in January 2014, we reported that Goldman’s merchant banking unit rushed to buy an 18% in Denmark’s DONG Energy (that would be Danish Oil & Natural Gas) company for $1.5 billion. The result was an immediate grassroots resistance campaign, as hundreds of thousands of Danes refused to hand over their DONG to the vampire squid for various reasons, not the least of which was granting Goldman veto rights over changes to DONG’s leadership and strategy, a right usually reserved for buyers of 33% of an entity. A bigger reason for the Danish anger at the Goldman DONG deal, was that as The Local reported a few months later, the sale “did not include a massive deal that both parties knew was imminent, shortchanging the company’s value by as much as 20 billion kroner.”

Which was to be expected: as we further said in January 2014, “if Goldman is involved, it guarantees future benefits for the Vampire Squid”. Sure enough: Continue reading »

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Jul 12

Greece May Sue Goldman Over Bank’s Role In Greek Collapse (ZeroHedge, July 12, 2015):

It’s Goldman Sachs’ world, we just happen to live in it.

That rather unfortunate, yet exceedingly accurate, characterization of the global financial and geopolitical landscape seemingly becomes more true with the passage of time and perhaps nowhere is it more evident than Europe, where the common currency experiment (which never had any hope of working without some semblance of a fiscal union) is on the brink of collapse.

Goldman Sachs European Domination

As we noted in “The Biggest Winner From The Greek Tragedy,” the losers from the disintegration of the EMU are ordinary, common, taxpaying Europeans who enjoyed a few brief years of artificial prosperity, which in retrospect was entirely due to debt, masked well by the “currency swaps” and other financial engineering concocted by banks such as Goldman Sachs, in clear violation of the Maastricht treaty which is now a long-forgotten memory of the founding ideals behind the Eurozone. Continue reading »

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Jun 03

Goldman Sachs Rookie Analyst Almost Escaped Before Falling To His Death (Dark Bid, June 3, 2015):

Goldman-Sachs

From the early days of Zero Hedge in 2009 to Matt Taibbi’s 2010 critique, “The Great American Bubble Machine,” Goldman Sachs has been one of the all-time favorite punching bags in critical circles. It’s easy to imagine Tyler Durden in a Fight Club style brawl with Lloyd Blankfein, taunting him, “No bailouts this time.”

Taibbi called Goldman “a great vampire squid wrapped around the face of humanity.” This time, their victim was Sarvshreshth Gupta, a rookie analyst just 22 years old from the University of Pennsylvania. Gupta was found dead in a parking lot next to his apartment building on the corner of Sacramento Street and Brooklyn Place in San Francisco. He apparently fell from the building.

After working 100 hours a week, he told his father, “This job is not for me.” In March, he quit. However, like the crazy woman in Fatal Attraction, Goldman was not going to be ignored. A week later, Goldman urged him to reconsider. His father encouraged him to return, and he did. Gupta was put on a reduced schedule (does 70 hours qualify as reduced?)

Continue reading »

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Jun 01

“By Almost Every Measure Stocks Are Overvalued” Warns Goldman After Slamming Corporate Buybacks (ZeroHedge, June 1, 2015):

Over the weekend, we first reported that none other than Nobel prize winner Robert Shiller said that in his opinion, unlike 1929, this time everything – stocks, bonds and housing – was overvalued. Curiously, none other than Goldman’s chief equity strategist, David Kostin echoed this sentiment when in his latest weekly note to clients he said that “by almost any measure, US equity valuations look expensive. The typical stock in the S&P 500 trades at 18.1x forward earnings, ranking at the 98th percentile of historical valuation since 1976. For the overall index, the aggregate forward P/E multiple equals 17.2x, a rise of 63% since September 2011, compared with the median expansion of 48% during 9 previous P/E expansion cycles. Financial metrics such as EV/EBITDA, EV/Sales, and P/B also suggest that US stocks have stretched valuations. With tightening on the horizon, the P/E expansion phase of the current bull market is behind us.

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Apr 30

From the article:

Just three questions here about Sarah Dahlgren’s “resignation”:

1. Why is she resigning now: is there a crackdown on just how corrupt the Goldman Sachs branch office at Liberty 33 truly is? Acutally, just kidding. Ignore this for obvious reasons.

2. What will her salary at Goldman Sachs be once she joins the 200 West firm?

3. Which Goldman partner will replace her?


NY Fed Head Of Banking Supervision, And Person Who Handed Over Billions In AIG Profits To Goldman, Resigns (ZeroHedge, April 30, 2015):

The name Sarah Dalgren is well-known to long-term Zero Hedge readers: back in January 2010 we revealed that, just before the Great US banking system backdoor bailout by way of getting a par return on AIG CDS, back in August 2008 Goldman was willing to tear up AIG Derivative Contracts, and had in fact offered to take a haircut. It was the Fed who turned Goldman’s offer down! And the person who made the decision would become the Fed’s head of Special Investments [AIG] Management Group: Sarah Dahlgren.

We said that Dahlgren “not only did not save US taxpayers’ money, but in fact ended up costing money, when they funded the marginal difference between par (the make whole price given to all AIG counterparties after AIG was told to back off in its negotiations) and whatever discount would have been applicable to the contract tear down that had been proposed by Goldman a mere month earlier. This, more so than anything presented up to now, is the true scandal behind the New York Fed’s involvement.Continue reading »

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Apr 29

Hillary Clinton Exposed Part 2 – Clinton Foundation Took Millions From Countries That Also Fund ISIS

As IBTimes reports, Goldman Sachs paid Bill Clinton $200,000 for a speech just before lobbying the State Department (then run by Hillary Clinton) on legislation involving the Export-Import Bank, which was set to provide the financing for the purchase of millions in aircraft from a company partially owned by the Wall Street bank.


Goldman Paid Bill Clinton $200K Before Lobbying Hillary On Export-Import Bank (ZeroHedge, April 28, 2015):

As documented here on several occasions of late, there are new questions surrounding charitable contributions to the Clinton Foundation. Most notably, a Reuters investigation revealed that the Clinton family charities may have suffered what we called a “Geithner moment” when they failed to report tens of millions in contributions from foreign governments on tax documents. The foundation will now refile five years worth of returns and hasn’t ruled out the possibility that it may need to amend returns dating back some 15 years.  Continue reading »

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Apr 29

Goldman Asks “Should Stocks Fear Rate Hikes?” (Spoiler Alert: Yes) (ZeroHedge, April 28, 2015):

While day after day we are bombarded with musings from talking-heads proclaiming that no matter what happens in the future, buying stocks and buying moar stocks is the way to go, the data has a different story to tell. As Goldman Sachs notes, at a forward PE of 17.5x, the equity market looks more expensive today than it was during any of the last four cycles. Furthermore, as Goldman puts it, we find it more challenging to rationalize the current high PE multiples.

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Apr 17

Brilliant!!!

What could possibly go wrong?

In summary:

George Carlin: The American Dream (Video)


gary-gensler

Hillary Clinton Is Grooming A Former Goldman Banker To Become America’s Next Treasury Secretary (ZeroHedge, April 17, 2015):

For years on end, many wondered how it is possible that Gary Gensler allowed Wall Street firms to manipulate, rig, and otherwise abuse the US commodity market which he, as head of the Commodity Futures Trading Commission from 2009 until 2014, was supposed to regulate.

Some, such as this website, suggested that what Gensler was doing was simply protecting his former colleagues from civil or criminal investigation and prosecution. After all Gensler is far better known for not only having worked at Goldman Sachs for 18 years most recently as co-head of finance, prior to joining the CFTC, but for becoming the youngest ever Goldman partner, at the tender age of 30.

Certainly, being the wealthiest member of the original Obama administration did not hurt: in 2009 the Wasingtonian reported his net assets as being between $15,533,000 and $61,745,000. We take the higher number. To be sure, he had been paid well at Goldman and now had a duty to his former employer: to keep Goldman (or any other Wall Street bank) off the hook of any regulatory investigation. Continue reading »

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Mar 03

Blankfein-Hillary-Clinton

As Jeb Bush Pounces On The Hillary Email Scandal, The Real Winner Is… Goldman Sachs (ZeroHedge, March 3, 2015):

While the Clintons have had their share of funding snafus in recent history exposing the former “not truly well off” first lady as not only a puppet of not only Wall Street but also America’s mega corporations, Hillary Clinton’s use of personal email accounts as America’s former top diplomat is a far more serious issue as it touches directly on accountability, and rational decision-making while in a top position of government power. To say that it impairs her image as a presidential candidate who puts the country ahead of her own interests, would be an understatement. Continue reading »

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Feb 24

From the article:

Under scrutiny are Bank of Nova Scotia , Barclays PLC, Credit Suisse Group AG , Deutsche Bank AG , Goldman Sachs Group Inc., J.P. Morgan Chase & Co., Société Générale SA, Standard Bank Group Ltd. and UBS AG , according to one of the people close to the investigation.”


Ten Banks, Including JPM, Goldman, Deutsche, Barclays, SocGen And UBS, Probed For Gold Rigging (ZeroHedge, Feb 23, 2015):

No matter how many times the big banks are caught red-handed manipulating precious metals, some failed former Deutsche Bank prop-trader (you know who you are) will take a vociferous stand based on ad hominem attacks and zero facts that no, what you see in front of you is not precious metal rigging at all but a one-off event that has nothing to do with a criminal banking syndicate hell bent on taking advantage of anyone who is naive and dumb enough to still believe in fair and efficient markets. Continue reading »

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