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alstry (35.42)

Shouldn't Someone Go To Jail.....even if it is God's work???

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January 01, 2010 – Comments (7)

How Goldman Sachs Made Tens Of Billions Of Dollars From The Economic Collapse Of America In Four Easy Steps

Step 1: Sell mortgage-related securities that are absolute junk to trusting clients at vastly overinflated prices.

Step 2: Bet against those same mortgage-related securities and make massive bets against the U.S. housing market so that your firm will make massive profits when the U.S. economy collapses.

Step 3: Have ex-Goldman executives in key positions of power in the U.S. government so that bailout money can be funneled to entities such as AIG that Goldman has made these bets with so that they can get paid after they win their bets.

Step 4: Collect the profits - Goldman Sachs is having their "most successful year" and will end up reporting approximately $50 billion in revenue for 2009.

According to the New York Times, firms like Deutsche Bank and Morgan Stanley also created mortgage-related securities and then bet that they would fail.....

Goldman was not the only firm that peddled these complex securities — known as synthetic collateralized debt obligations, or C.D.O.’s — and then made financial bets against them, called selling short in Wall Street parlance. Others that created similar securities and then bet they would fail, according to Wall Street traders, include Deutsche Bank and Morgan Stanley, as well as smaller firms like Tricadia Inc..

http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps

Sorta funny how we bail out the bankers and let the rest of America rot.................welcome to 1.01.10.....it now happens.......higher taxes, lower incomes, higher prices, millions of businesses shutting down and tens of millions of jobs lost......as the politicians keep getting paid with borrowed money and hand trillions to their banker buddies.

Perry County PA - To Raise Taxes 16% ??

Luzerne County Pa. Passes a 10% Property Tax Increase

New York Thruway Toll Increase 5% Starting Jan 3

Tolls on Pennsylvania Turnpike to go up 3% on Sunday

Memphis Difficult City to Find a Job 

Vermont State Employees Ok Pay Cuts

Laid-Off Executives Struggle to Find Any Kind of Job

Midnight in the Food Stamp Economy 

City of Marion OH - Sales Tax Revenues Down More Than $750,000 From 2008

Arizona State: The Worst Financial Days Ever - Governor Says

Maybe if they keep telling us the recession is over, the rest of our retirement dollars can siphoned off the the bankers as well......guess where Goldman's profit came from?????

Guess how much of your income and assets need to be taxed so the politicians and bankers can keep getting paid??????

7 Comments – Post Your Own

#1) On January 01, 2010 at 3:21 PM, eddietheinvestor (< 20) wrote:

Good post.  I would like to nominate Alstry for head of the FED.

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#2) On January 01, 2010 at 3:37 PM, oshiri (< 20) wrote:

Happy New Year Sempai Al!

I hope we have a good time in the New Year, and the cigars are on me.

Yes, and much of the exposed world is rotting too ... all Wendy's restaurants in Japan closed for good last night. Ouch Dave!

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#3) On January 01, 2010 at 3:45 PM, MrGhrelin (< 20) wrote:

Yes someone should go to jail.  I wish we could go Chinese on them, line em up and shoot'em.  But of course we're the best country in the world and a democracy that obeys the rule of law.  Did you know that right now the Supreme Court is deciding if a corporation, being a person, has the right to contribute unlimited funds to the political candidate of their choice?  Talk about putting our democracy in the hands of a few.  Since the court is now packed with conservatives I suspect they will say yes. 

Maybe I'm just sour having lost so much of my 401K.... 

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#4) On January 01, 2010 at 4:00 PM, alstry (35.42) wrote:

Oshi....

Happy New Year!!!

Just watching the Philly/Boston Winterclassic.....more games should be played outside......too bad it is not snowing.

What is amazing is if a foreign nation did what our bankers/complicit congresspeople did to us, we would likely seek retribution....and use of force would not be out of the question based on the severity of the crime.

I would  be willing to publicly debate that Benny The B did more damage and harm to America and Americans through his negligent/reckless actions than Osama Bin Laden ever intentionally accomplished.

When someone tries to light his scrotum on fire, we go nuts, yet when it is our own bankers/government committing even more destructive acts.....we as a nation sit there with our thumbs up our backsides and take it with a smile.

Very volitlile times as we proceed 1.01.10.....the depression will be much more severe than many anticipate......expect our more aggressive actions overseas to potentially increase the liklihood of terror acts going international with boarders NOT being limiting factors anymore.

The fact that we were attacked at our own army base on our own soil, the White House infiltrated by guests w/o an invitation or on the guest list, the Pope attacked by the same woman twice in a year, and the perfect profile of a terrorist is allowed to board a plane destined for Detroit without a passport should be a sufficient foundation for this increasing possibility.

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#5) On January 01, 2010 at 8:43 PM, workfor (< 20) wrote:

kf6pfk...

We must be careful. In case you havent heard, GS executives have recently started packing heat. Maybe they plan to line US up and shoot us if we don't hand over the rest  of our money. Ha Ha!!

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#6) On January 01, 2010 at 9:06 PM, workfor (< 20) wrote:

I always thought robbers obtained a gun before they did their robbing, but not with GS. Maybe I'm the one who has it bass ackwards!

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#7) On January 02, 2010 at 9:18 AM, abitare (35.58) wrote:

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