There was a very interesting article on Zero Hedge the other day. In the data provided, I noticed that Goldman Sachs traded more for their Principal account than the next 14 firms COMBINED. And the next 14 were no slouches . . . Citi, JP Morgan UBS, Credit Suisse, Merrill, Barclays, Deutsche Bank, BNP Paribas, etc.
I mention this because it seems a bit coincidental that the markets have skyrocket during this very same period, and Goldman Sachs' stock price has jumped more than 70% to just about back to where our dear friend Warren Buffet bought in. Their stock prices has more than doubled the performace of any of the US markets!
It's also interesting that this 74% meteoric rise comes when Goldman Sachs has decided to sell stock to pay back the TARP dollars . . . even though they told us they didn't need the money. Obviously, Lord Blankfein, you needed the money because you don't have it to pay back . . . and you don't even have the billions you got from AIG.
And one final note. Wasn't it Lord Blankfein that told us the billions they got from AIG were not material? If so, why do they need to sell stock to pension funds and other fiduciary pockets of money in order to repay TARP?
I just don't get it. Doesn't any at the SEC consider who is trading and what they are trading? You've got one company, Goldman Sachs, trading for their own account in Program Trading, more than the next 14 largest firms combined.
The SEC is only concerned with the uptick rule these days, and how to design more ways for companies like Goldman Sachs to take advantage of the markets.
Here's a link to the article I referenced above - http://zerohedge.blogspot.com/2009/04/incredibly-shrinking-market-liquidity.html
Whoa, great catch. Keep posting! GS is the henchman of the Dem Party. Are they laundering money? Who knows what they are doing?
ReplyDeleteMike, you or the volunteers should make a Link-graph showing the relationships of all Goldman current and past executives working in government and their "major" accomplishments in the past and current financial crisis.
ReplyDeleteA picture speaks a thousands words.
For example, the big tree itself is Goldman. Then in year order moving up (latest years at the top) are the executives that branch out to government or FED, and each of these people's role in the financial crisis. Paulson would be drawn as handing out $700 B.
Hey I'm jealous. How come Goldman Sachs isn't suing me? I've been writing about the Goldman Sachs gangstas longer than Mike Morgan. I even wrote this in an article titled "Welcome to the Wall St. jungle":
ReplyDelete"The case for indicting the executive leadership of Goldman Sachs becomes clearer by the minute, but will Congress act? Here is the case as it is emerging in the past few months. Clearly the GS insiders were acting to defraud the American public with an elaborate shell game."
So what's your secret Mike? Is it just that you incorporated "goldmansachs" into your domain name? Anyway Mike I invite you to visit my website futurenewstoday.blogspot.com. Just do a search on the site for Goldman Sachs. You'll find plenty of information that you can use here.
Goldman certainly manipulated the trading in various individual stocks last year. They wanted a close competitor, Lehman, to go out of business and they used whispers and rumors to help them go out.
ReplyDeleteIn March, a former Goldman employee with then with the DOJ leaked an internal memo which caused CME to drop 140 points in one day. That employee is now CEO of Wachovia. Mission accomplished-and rewarded.
Senator Schumer gave them political cover.
From Jim Kunstler's latest:
ReplyDelete"It will be interesting to see, for instance, if there is any uproar over the evolving story of Goldman Sachs's latest raid on the US Treasury, after booking billions in taxpayer-funded payouts funneled through AIG, based on double-hedged credit default swaps. "
more at:
http://groups.yahoo.com/group/thelongemergency/messages
SHORTMASTER 2.03, Ask about that software and you would be surprised. Market Manipulation at its best.
ReplyDeleteBravo! Keep up the good work. How could an All-American company like Goldman Sachs try to curb your freedom to speak?
ReplyDeleteHi Mike,
ReplyDeleteI sent you an email a few days ago but I never got a reply back. You should know as well as anyone it takes a little while for the word to spread about your site. Have a little patience.
Is this why the top largest contributors to Obama and McCain included Goldman Sachs?
ReplyDeleteI thought so.
It appears this investment company is running out of options. They're pressed to push boarder-line legal trade angles and will raise a fuss when light is directed toward their questionable actions. It seems to mimic the Israeli governments verbal responses about Gaza and other issues they prefer to keep under the radar. Sorta like a Pick-pocket that points at something to divert attention then rips off a wallet.
ReplyDeleteThey are "winking" at Goldmans activities just like they "winked" at Madoffs "activities" because Goldman is too powerfull to prosecute,ie:the White House/Congress/Fed/worldwide central banks.
ReplyDeleteMadoff, Blankfein, etc... No wonder people of Jewish faith are hated so much when it comes to the matters of managing money. But I don't think anyone in the congress has big enough balls to question Goldman. How can you bite the hands that feed? But an infant does that inadvertently. I am waiting for a political infant. Btw, I think Obama is the biggest phony we will ever see, so don't bet your chips yet.
ReplyDeleteEliot Spitzer was removed to clear the way from all of the financial malfeasance we've witnessed.
ReplyDeleteShawn, You can generate your own relationship map from Muckety.com
ReplyDeletehttp://www.muckety.com/Henry-M-Paulson-Jr/592.muckety
" It just goes to show, most people get mad, but that's about it."
ReplyDeleteNo, it just means that many of us support what you are trying to achieve, but either do not have the time required to be effective or, like me, are not sufficiently financially literate to make any useful contribution. A committed band of a dozen or so will be more use than a disorganised, blogging, rabble. Please try to keep things in perspective - and avoid writing at 5 a.m., which may help with that.
Judging by other comments, it looks like an ego turf-war is starting. I suggest GS just sit back and wait for the bickering to divert everyone's attention - or stir the pot for good measure. Divide and conquer will work every time.
Good luck, but stay focused and don't take it out on those that are with you but can only offer support.
If they pass the stress test and give back TARP, then do they stop being a commercial bank and take back on the 95 trillion in derivatve risk. That has to have been their single most important goal: transfer 95 trillion in derivative risk to the Federal Reserve System. It just makes me sick
ReplyDeleteGS thinks they can intimidate bloggers with alaughably dishonest reading of trademark law. Don't for a moment believe they have any legal standing whatsoever, and don't be intimidated. I added to a link to you on my moneygranola.com website--I want to help amplify this Streisand effect!
ReplyDeleteThis could be the biggest insider trading scam in the history of the markets. The collusion between Treasury-President-Goldman should be investigated. It appears that gs-governmetn are coordinating news announcements. First they took the entire market lower and shook out longs now they take it up and then sell shares to the public! They report a profit 6 weeks after the sky was falling and everyone needed to be rescued. Obama was talking about a catastrophe, Citigroup needed an emergency 38% stake, and now the world is all fine and WFC has record profits-- announced early! while the imaginary "stress test" results await goldman's ok for release. what will they get short and send the front man president out to get pessimistic. then reverse again. this stuff seriously needs to be investigated. gs is taking down the entire economy to save themselves. lets see here: take government money, use it to pad the bottom line and report big profits, payback government money with a stock offering. what suckers are going to buy this stock? or better yet, who would bet against a company that runs the U.S. government? what do you call it when one company runs the government? not socialism or communism but something. it ain't a "market" economy anymore.
ReplyDeleteMoneyGranola is spot on! Added a link to you too.
ReplyDeleteThey wouldn't be squirming if you weren't nailing them!
deepcapture is chasing another angle to this story; the killing of bear sterns and lehman via massive naked short selling. goldman is too deeply entrenched into the financial establishment not to have been part of the kill team. i'll add that naked short selling is and was illegal, so if this is a good investigative vein it will lead straight to criminal charges. will these reach goldman? time will tell.
ReplyDeletethey've got a neat intro video:
http://www.deepcapture.com/category/deepcapture-podcast/
The "special" relationship between GB/US/Israel exists with several nexuses including: military industrial complexes, central banking, petrol energy complex, media, government, and covert intelligence sharing. This is truly an alliance that has gotten out of control. Imperialism, colonialism, militarism are not the kind of exports that are sustainable. GS is the financial hub. Too big to fail, means too big to regulate, therefore too big to exist. Break them up like the baby bells. Trust busting to the rescue.
ReplyDeleteAt some point the corruption becomes so great that citizens start building guillotines and beheading all the bankers/scam articles behind this.
ReplyDeleteThink it won't happen? Think citizens somehow can be pushed beyond the limits that every other society in human history has said "too far" ?
A few public beheadings might bring these crooks into line. But first we need to abolish the fed. And sentence Paulson to death for the largest bank heist in history. His crimes against the country are more than every other petty criminal ever arrested in the last 100 years.
Mike: I hope you run with Shawn's idea about a graph. The relationship of current and former GS employees to all branches of Government is mind-numbing. It would be very helpful to everyone and shine the spotlight 'brighter' by being on your site.
ReplyDeleteThis site is catching a lot of buzz on several of the websites I frequent. The fact that Goldman is talking lawsuit should tell you that this guy is telling the truth and that's not a good thing from Goldman's perspective.
ReplyDeleteI am not quite convinced that Goldman is either evil or needs to be destroyed. But I defend your right to analyze the firm, voice your concerns and uncover interesting observations with respect to their opaque operations. Keep it up!
ReplyDeleteGoldman Sachs is a dinosaur being piloted be the third string idiots who can't see that they'll do Paulson's prison time for him. Pretty Boy Lloyd's going to make a lot of new friends at Lewisburg. Now, just think how stupid his underlings must be.
ReplyDeleteSo GS had a nice profit on the backs of the American Taxpayer by way of the AIG backdoor slush fund. GS really made jack shit, but we will allow them to lie their arses off, if we can pump the market higher. We no longer have a plunge protection team. We have a protection team that should work for the mob, but why switch now when they are doing so well? When does the Ministry of Propaganda open for business in the District of Corruption? I know we have one already, but lets make it official.
ReplyDeleteanonymous says:
ReplyDelete"what do you call it when one company runs the government? not socialism or communism but something. it ain't a "market" economy anymore."
It is called Fascism.
The SEC.
ReplyDeleteGive me a break. As if anybody that works for the Federal Government actually works in Federal Government.
It's just welfare for the white collar middle class folk. The SEC only prosecutes famous individuals like Martha Stewart, if you happen to be well connected to politicians or to the financial industry like Franklin Raines or Jim Cramer, you can do anything you goddamned please.
Legality is for the little folk.
Like Citi, Wells Fargo, the Goldman Sachs, it also inflates the earnings and cooking the books which most the money got from the insurance money paid by AIG for their gambling bet on CDS etc (derivatives). Nothing to cheer about yet. This the beginning of another round of lying, cheating and manipulating. Greedy is as life as usual.
ReplyDeletehttp://www.scribd.com/doc/14227076/Behind-the-Curtain4909
ReplyDeleteMartin Armstrong is still in jail (since 2000). He has never been convicted, nor really even charged. Read this and you will see why. It's because Martin Armstrong knows too much about corruption in government and the part GoldmanSachs plays in it. Armstrong knows more about the conspiracy going on than any one in the world outside of the players (GoldmanSachs and the insiders in the Fed). The above link is rather long, but is a must read if you want to start to get to the bottom of this.
There are more Martin Armstrong links from the jailhouse
http://www.scribd.com/doc/14227076/Behind-the-Curtain4909
ReplyDeleteMartin Armstrong is still in jail (since 2000). He has never been convicted, nor really even charged. Read this and you will see why. It's because Martin Armstrong knows too much about corruption in government and the part GoldmanSachs plays in it. Armstrong knows more about the conspiracy going on than any one in the world outside of the players (GoldmanSachs and the insiders in the Fed). The above link is rather long, but is a must read if you want to start to get to the bottom of this.
There are more Martin Armstrong links from the jailhouse
"GS is the henchman of the Dem Party" as Vdavisson claims???
ReplyDeleteHello??
HANK PAULSON.... _BUSH's (W's) TREASURY SECRETARY - was Goldman-Sachs CHAIRMAN for FIVE YEARS, immediately before becoming BUSHIES' Secretary of Treasury (!!)
As in "Hank Paulson, BUSH's TREASURY SECRETARY who PRESIDED OVER THE MELTDOWN of the entire US Stock Market in September 2008, and who immeiately came up with the "BAILOUTS" brainstorm, "BAIL-OUT _MY_ 530-MILLION-dollar Portfolio at G-S using HUNDERDS of BILLONS of TAXPAYER DOLLARS" - with "NO oversight, NO audits, and NO ANSWERS, EVER!" infamy.
In point of Fact, the Goldman-Sachs "PUMP & SQUEEZE" Fraudsters
http://www.forbes.com/forbes/2009/0413/096-sachs-semgroup-goldman-goose-oil.html
_OWN_ _BOTH_ political parties.
It is not accurate to say that G-S are the "henchmen" of the 'Democrat' Party.
What is far more accurate is to say that "The Democrats, (AND Republicans), are HENCHMEN of "THE MONEY PARTY," of which Goldman-Sachs are the biggest, most treacherous, most thieving, most successful players.
Michael Collins, "The Money Party" series:
http://www.electionfraudnews.com/MichaelCollins.htm
vdavisson - We're all Americans, and by the way, it is Hank Paulson under King Georges who took Lehman out of the picture and gave your and my money to GS to use it for risky trading.
ReplyDeleteF.Y.I GS is driving the price of our 401k(Mutual Funds)until the S&P hits to about 1100 and then they'll short the hell out of our Mutual Funds by shorting the stocks. And while Americains are out of work, GS is already talking about huge bonuses.
We are being screwed big time and all you find to say is "GS is the henchman of the Dem Party" you are PATHETIC
Elder Bush & Resolution Trust, Little Bush & Tarp. Madoff & Blankfein. Does anyone still think we live in a free market democracy? Don't be silly. This is National Socialism. Next come the armbands
ReplyDeletegood article in the Rolling Stone mag about the previous and upcoming bubbles all manipulated by GS.
ReplyDeletethey're currently sitting pretty when carbon-credit trading is enacted by the gov. makes one feel pretty insignificant.
whats that movie thats coming out soon with that one guy asking this one woman where our money is and she is saying well i don't know well that kinda what it seems like so far but i don't trust stocks or anything like that because they always go down when people start to buy them its a hoax this whole country is a hoax
ReplyDelete