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An American Affidavit

Tuesday, December 9, 2014

"I Am Putting Everything In Goldman Sachs Because These Guys Can Do Whatever The Hell They Want" by Tyler Durden from ZeroHedge

  

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"I Am Putting Everything In Goldman Sachs Because These Guys Can Do Whatever The Hell They Want"

Tyler Durden's picture




 
When we first covered the Carmen Segarra lawsuit alleging the capture of the NY Fed by Goldman Sachs back in October 2013, we didn't have much hope for justice to get done. We said that "while her allegations may be non-definitive, and her wrongful termination suit is ultimately dropped, there is hope this opens up an inquiry into the close relationship between Goldman and the NY Fed. Alas, since the judicial branch is also under the control of the two abovementioned entities, we very much doubt it."
Sure enough, the lawsuit was dropped (and no inquiry was opened) but not before it became clear that the very judge in charge of the case, U.S. District Judge Ronnie Abrams, was herself conflicted, after it was revealed that her husband, Greg Andres, a partner at Davis Polk & Wardwell, was representing Goldman in an advisory capacity. Curiously, before she assumed her current office in March 2013, back in 2008 Abrams returned to Davis Polk herself as Special Counsel for Pro Bono. She had previously worked at the firm from 1994 to 1998. For the full, and quite amazing, story of how the "Judge" steamrolled Segarra's objections reads this Reuters piece.

As a result of this fiasco, some wondered just how far do Goldman's tentacles stretch not only at the money-printing (i.e., NY Fed) level, not only at the legislative level (see "With Cantor Down, Which Other Politicians Has Goldman Invested In?"), but at the judicial as well.
And then, on Friday, the Segarra case against the Federal Reserve branch of Goldman Sachs got a second wind, when as a result of another disclosure, ProPublica revealed "How Goldman Controls The New York Fed in 47.5 Hours Of "The Secret Goldman Sachs Tapes." That is to say, nothing new was revealed per se, because as anyone who has read this website for the past 6 years knows just how vast Goldman's network is not only at the Fed, but in that all important other continent too, Europe.

Sadly, just like a year ago, so this time too, we are reluctant to say anything will change. In fact, there is too much at stake, for Goldman to drop the reins and disassociate from the NY Fed: for pete's sake, the president of the NY Fed is a former Goldman employee - does it get any more conflicted than that?!
But, wait, Goldman will do penance by "prohibiting its bankers from buying stocks"... the horror. Luckily at least purchasing politicians and Fed presidents is still perfectly allowed.
In fact, what has become clear to everyone is that aside from yet another dog and pony show (led by, you guessed, it the head dog and ponier herself, Elizabeth Warren), not only will nothing change, but in fact the best way to take advantage of a broken, corrupt, sinking system, is to join it. And the best summary of just that sentiment was released over the weekend by Nanex' Eric Hunsader as follows:
Curious what made up Eric's mind? Then fast forward to minute 24 to hear what it sounds like when a top Fed official "questions" Goldman Sachs:


But before we put this topic to bed, here is Raúl Ilargi Meijer explaining why "The US Has No Banking Regulation, And It Doesn’t Want Any"
* * *
It is, let’s say, exceedingly peculiar to begin with that a government – in this case the American one, but that’s just one example - in name of its people tasks a private institution with regulating not just any sector of its economy, but the richest and most politically powerful sector in the nation. Which also happens to be at least one of the major forces behind its latest, and ongoing, economical crisis.
That there is a very transparent, plain for everyone to see, over-sized revolving door between the regulator and the corporations in the sector only makes the government’s choice for the Fed as regulator even more peculiar. Or, as it turns out, more logical. But it is still preposterous: regulating the financial sector is a mere illusion kept alive through lip service. Put differently: the American government doesn’t regulate the banks. They effectively regulate themselves. Which inevitably means there is no regulation.
The newly found attention for ProPublica writer Jake Bernstein’s series of articles, which date back almost one whole year, about the experiences of former Fed regulator Carmen Segarra, and the audio files she collected while trying to do her job, leaves no question about this.
What’s going on is abundantly clear, because it is so simple. The intention of the New York Fed as an organization is not to properly regulate, but only to generate an appearance – or illusion – of proper regulation. That is to say, Goldman will accept regulation only up to the point where it would cut into either the company’s profits or its political wherewithal.
What the ‘Segarra Files’ point out is that the New York Fed plays the game exactly the way Goldman wants it played. Ergo: there is no actual regulation taking place, and Goldman will comply only with those requests from the New York Fed that it feels like complying with.
In the articles, the term ‘regulatory capture’ pops up, which means – individual – regulators are ‘co-opted’ by the banks they – are supposed to – regulate. But the capture runs much larger and wider. It’s not about individuals, it’s a watertight and foolproof system wide capture.
The government picks a – private – regulator which has close ties to the banks. The government knows this. It also knows this means that its chosen regulator will always defer to the banks. And when individual regulators refuse to comply with the system, they are thrown out.
In one of the cases Segarra was involved in during her stint at the Fed, the Kinder Morgan-El Paso takeover deal, Goldman advises one party, has substantial stock holdings in the other, and appoints a lead counsel who personally has $340,000 in stock involved. Conflict of interest? Goldman says no, and the Fed complies (defers).
The lawsuit Segarra filed against the NY Fed and three of its executives was thrown out on technicalities by a judge whose husband was legal counsel for Goldman in the exact same case. No conflict of interest, the judge herself decides.
This is not regulation, it’s a sick and perverted joke played on the American people, which it has been paying for it through the nose for years, and will for many years to come. Sure, Elizabeth Warren picks it up now and wants hearings on the topic in Congress, but she’s a year late (it’s been known since at least December 2013 that Segarra has audio recordings) and moreover, it was Congress itself that made the NY Fed the regulator of Wall Street. Warren has as much chance of getting anywhere as Segarra did (or does, she’s appealing the case).
The story: In October 2011, Carmen Segarra was hired by New York Fed to be embedded at Goldman as a risk specialist, and in particular to investigate to what degree the company complied with a 2008 Fed Supervision and Regulation Letter, known as SR 08-08, which focuses on the requirement for firms like Goldman, engaged in many different activities, to have company-wide programs to manage business risks, in particular conflict-of-interest. Some people at Goldman admitted it did not have such a company-wide policy as of November 2011. Others, though, said it did.
Let’s take it from there with quotes from the 5 articles Bernstein wrote on the topic over the past year. To listen to the Segarra files, please go to The Secret Recordings of Carmen Segarra at This American Life.
One last thing: Jake Bernstein’s work is of high quality, but I can’t really figure why he says things such as the audio files show: “a New York Fed that is at times reluctant to push hard against Goldman and struggling to define its authority”. Through his work, and the files, it should be clear that just ain’t so. Both the Fed’s policy and authority are crystal clear and ironclad.
 
Sun, 09/28/2014 - 19:20 | 5265640 Bangalore Equit...
Bangalore Equity Trader's picture
Listen Zero's.
Do you think Goldman has any secret financial blogs on interwebs?
Sun, 09/28/2014 - 19:25 | 5265648 knukles
knukles's picture
We're not part of the club
Sun, 09/28/2014 - 19:28 | 5265657 Ignatius
Ignatius's picture
There was a time when 'going with Hitler' seemed like a good idea, also.
Sun, 09/28/2014 - 19:34 | 5265675 X.inf.capt
X.inf.capt's picture
See!
goldmann sachs does rule the world...
Sun, 09/28/2014 - 19:38 | 5265682 0b1knob
0b1knob's picture
Jon Corzine also did whatever the hell he wanted too.   Including stealing all his customer's money.
Sun, 09/28/2014 - 19:47 | 5265697 Four chan
Four chan's picture
and it worked^ this is like backing hitler in 1939
Sun, 09/28/2014 - 20:03 | 5265734 cifo
cifo's picture
So it's going to take 5 or 6 more fucking years?????
Sun, 09/28/2014 - 20:12 | 5265750 SafelyGraze
SafelyGraze's picture
+1 ob1knob
"Jon Corzine also did whatever the hell he wanted too. Including stealing all his customer's money."
and that's why the smart money was with mfg
and with gs
hugs,
bernie
Sun, 09/28/2014 - 20:55 | 5265819 outamyeffinway
outamyeffinway's picture
When everything's burning and judge's are hanging and Congressmen are missing, we'll know why.
Sun, 09/28/2014 - 20:57 | 5265824 economics9698
economics9698's picture
A few hard core MF's know where the ropes are.
Sun, 09/28/2014 - 22:10 | 5265959 strannick
strannick's picture
Yes, they are the diabolical masters of the universe. It would be like investing in Hitler in 1932.
Sun, 09/28/2014 - 23:08 | 5266033 The Doofus
The Doofus's picture
Lloyd Blankfein cornholed my mother.  I'll never forgive that son-of-a-bitch.  But his business model is aces.  Corruption and Cronyism.  He can't lose.
Sun, 09/28/2014 - 23:46 | 5266061 Keyser
Keyser's picture
But, he's doing God's work... bbwwwaaahhhhhaaaaaa....


Mon, 09/29/2014 - 01:35 | 5266151 El Crusty
El Crusty's picture
investing in hitler in 1932 would have been a smart buy. selling off all your shares in hitler by 1944 would have been an even better sell- massive profits.
now the real question in relation to today's timeline, when was 1932 and when is 1944?
Sun, 09/28/2014 - 22:12 | 5265963 Manthong
Manthong's picture
.. just doing god's work of rape.
Sun, 09/28/2014 - 20:21 | 5265771 Stackers
Stackers's picture
That whole 60 min interview with Carmen is a MUST LISTEN
http://www.thisamericanlife.org/radio-archives/episode/536/the-secret-re...
Sun, 09/28/2014 - 20:32 | 5265791 Bindar Dundat
Bindar Dundat's picture
GS will be the cause of WW3 and we will be on the losing side because of greed and corruption at GS and others.
We're screwed.
Sun, 09/28/2014 - 21:41 | 5265907 chunga
chunga's picture
yeah but that's racist and hateful and spiteful and true
Mon, 09/29/2014 - 05:33 | 5266265 CuttingEdge
CuttingEdge's picture
Look on the bright side...
When the guillotines start rolling (as they do when every empire collapses), Blankfein, Dimon, Corzine and corporate fascist cunts like them will be at the top of the list for a neck shave. Their transgressions are too well documented for it to be otherwise.
Hopefully in our lifetimes, and definately worth getting pay per view if you can't make the pilgrimage to spectate.
Mon, 09/29/2014 - 09:56 | 5266647 chunga
chunga's picture
+10
Sun, 09/28/2014 - 20:51 | 5265805 fockewulf190
fockewulf190's picture
Expect more nailgun accidents in the near future.
Sun, 09/28/2014 - 23:32 | 5266054 BlindMonkey
BlindMonkey's picture
Can we put the list to a vote here on ZH?
Mon, 09/29/2014 - 03:10 | 5266180 Lore
Lore's picture
Such corruption is only possible in organizations dominated by clinical psychopaths. The terror experienced by peons must be beyond belief.  In my experience, such a state is very unstable and temporary.  The greatest weakness of psychopaths is themselves, for trying to remake the world in their own broken image.  Sadly, they always do a lot of damage on the way down. In this case, the capital of nations is being hollowed out to delay the inevitable.  Foreign policy is reduced to desperate protectionism for an increasingly fragmented, disintegrating mafia. It's actually an exciting time, if only we can stand back and watch from a safe distance. 
Political Ponerology
Mon, 09/29/2014 - 04:18 | 5266200 Blankenstein
Blankenstein's picture

+1000
You get to hear some of the players at the Fed who do the Squid's bidding. Two that are on the recording are Michael Silva and Jonathon Kim:

http://aux.edinboro.edu/pea/conf/2013Scranton/program2013.htm
Jonathon Kim's Linkedin link no longer works

Sun, 09/28/2014 - 22:48 | 5266012 McCormick No. 9
McCormick No. 9's picture
-
Sun, 09/28/2014 - 23:31 | 5266052 BlindMonkey
BlindMonkey's picture
"Jon Corzine also did whatever the hell he wanted too. Including stealing all his customer's money."
Now he is working on stealing everyone's 401k. Success begets success.
Sun, 09/28/2014 - 19:43 | 5265691 stant
stant's picture
The squid knows folks who buy ink by the tanker
Mon, 09/29/2014 - 06:46 | 5266290 tvdog
tvdog's picture
Nowadays, newspapers lose money, by and large. The people who own them don't own them to make money - at least not to make money in the newspaper business.
With CNBC's ratings, does it make money? If so, for how long? In any case, its owners are unlikely to care whether it makes money or not.
Sun, 09/28/2014 - 19:44 | 5265692 Escrava Isaura
Escrava Isaura's picture


Unproved Science
Who cares what is real when large interests can manufacture nonsense, downright lies, and the populace is not able or willing to understand the difference.

Left Software: Living in la la land

Right Software: Living either in the past (denial) or in the future (science fiction)

Neoclassical Hard Drive: Just keep telling them: Market can fix everything. Market can fix everything.  

Neoliberal Hard Drive: There are NO solutions. Move the Forward demand to the Present… Hell, we all gonna die.

Sun, 09/28/2014 - 23:15 | 5266041 imaginalis
imaginalis's picture
Or just blurt a load of shight bullet points
Sun, 09/28/2014 - 21:04 | 5265843 Kirk2NCC1701
Kirk2NCC1701's picture
The way I see it, if the Yids can play mind games, so can we: Learn to kibbitz in some basic Yiddish and pretend you're in the Club also. Especially if your name ends in "er".
Profit is profit.
Sun, 09/28/2014 - 21:57 | 5265934 tarabel
tarabel's picture
I had no idea that Captain Kirk hated his multicultural crew so much. He certainly hid it well.
Mon, 09/29/2014 - 00:41 | 5266110 Kirk2NCC1701
Kirk2NCC1701's picture
It's got nothing to do with "hate" (an emotion, from the Mid-brain). It's got to do with cognitive decisions (a rational process, from the front of the brain).
Audacity, Courage and Imagination trump Fear, Hate and Preconceptions.
If they can infiltrate us, we can do the same. They are paranoid as it is, so this would really wind them up. ;-)
Mon, 09/29/2014 - 04:48 | 5266258 BigJim
BigJim's picture
I've often thought the Palestinians should just convert to Judaism. Then they'd get a signing-on bonus for crossing the Gaza fence rather than a hail of bullets.
Mon, 09/29/2014 - 09:50 | 5266627 MontgomeryScott
MontgomeryScott's picture
Kirk liked HIS crew just fine.
It was the KLINGONS he didn't like. They killed his son...
Sun, 09/28/2014 - 22:48 | 5266016 McCormick No. 9
McCormick No. 9's picture
.
Mon, 09/29/2014 - 01:18 | 5266140 HowardBeale
HowardBeale's picture
Honey,
Have you seen that recipe for Revolution Surprise? I know it's here somewhere...
Sun, 09/28/2014 - 19:28 | 5265658 homiegot
homiegot's picture
They meet fact to face and destroy any communications. If you want to keep something secret these days you gotta keep it off the net.
Sun, 09/28/2014 - 19:35 | 5265678 negative rates
negative rates's picture
Three can keep a secret, but only if two are dead.
Sun, 09/28/2014 - 23:16 | 5266043 imaginalis
imaginalis's picture
I might argue only if 3 are dead
Mon, 09/29/2014 - 07:41 | 5266349 negative rates
negative rates's picture
Then it wouldn't be a secret now would it.
Sun, 09/28/2014 - 22:31 | 5265995 LibertarianMenace
LibertarianMenace's picture
I'd imagine that until this blows over, that they'll be frisking each other more than ususal to make sure no one in the conversation is wired.
Sun, 09/28/2014 - 19:45 | 5265693 Clever Name
Clever Name's picture
I will start a mutual fund, anyone in? Guaranteed winners all!
GS, MON, LMT, JPM, BRK
More suggestions, please?
Mon, 09/29/2014 - 01:03 | 5266127 fedupwhiteguy
fedupwhiteguy's picture
Winners? Well, I'm betting SKF. We can always hope...


hopey/changy
Sun, 09/28/2014 - 20:52 | 5265760 rocker
rocker's picture
They don't need any blogs when they too control the biggest Blogs of all. The Financial Main Street Media. CNBC, FBN, Bloomberg.
But that's not the real story. If one just thinks about it. Goldman is the FED and the CB of the World. Follow the Money.
Hank Paulson, CEO of Goldman and Neel Kashkari also from Goldman bailed out Goldman and others under Bush.
And somehow, Goldman became a bank so they too could go to the discount window. They wanted more than Buffit gave them.
Greed is Good. Bush worshipped Hank and Neel who enginnered the bailout to saved the Financial system. Too big to fail lives on.
Yet nobody went to jail. Nobody. I have lost faith in our financial system, our government and our political system.
Sun, 09/28/2014 - 22:27 | 5265989 NoPension
NoPension's picture
You lost faith? This was that straw, the one that broke the camel's back?
Fuck these motherfuckers. At least throw one in jail. At least try to put on a show for us. They don't even hide it anymore. Just a hidy-ho, f ff fuck you, little people, peon tax slave debt serfs. Civilians, that's what we are.
And to add insult to injury, if you stop off at the watering hole, and try to forget about this shit, a roid ranger pops you, and that costs 10 grand. But an illegal , no Licencse ,no insurance..... They let him go on his way.
I can't wait until the wheels come off this bus, and the guns and ropes come out. Yeah, we will all suffer, but it will be worth it.
The law. A fucking joke. Only "little" people and civilians have to follow the law.
Mon, 09/29/2014 - 02:01 | 5266173 El Crusty
El Crusty's picture
They did throw one of those fuckers in jail. Madoff didnt do anything differently than any of the other members of "The Club"- stole insane amounts of money from people that trusted him, lied through his teeth about everything until the whole house of cards came crashing down. Bernie got thrown under the bus because the rest of the boys needed a martyr to keep the illusion that these people will be thrown in jail for ripping people off.
there is zero difference between Madoff's investment scheme and goldman's or the fed's schemes- they are ponzi scams no matter how you look at em.
Madoff was nothing more than a bone thrown to the keep the lynch mob at bay for a while longer.
Mon, 09/29/2014 - 03:29 | 5266238 limpinalien69
limpinalien69's picture
Madoff stole from the wrong group. Don't steal from your own kind is their motto. Steal and rob the from anyone else is fine.
Mon, 09/29/2014 - 00:52 | 5266101 dolbiere
dolbiere's picture
you have to remember that hank also engineered his own defense from future prosecution for his role in saving the world. ben was sure a good lead blocker. how much more corruption can there be when the american taxpayer was put on the hook by these two criminals to make AIG whole , so as goldman could collect its 20billion (if not more) for a bad bet. oh and they brought in warren buffet so as to make it look like a clean deal.
Mon, 09/29/2014 - 01:49 | 5266166 NaN
NaN's picture
"Greed is Good."
That reminds me, if greed is good, then so is gluttony.
Sun, 09/28/2014 - 20:39 | 5265800 JohnG
Sun, 09/28/2014 - 20:52 | 5265816 Otto Zitte
Otto Zitte's picture
They have their own internet. We paid for it:
http://en.wikipedia.org/wiki/Dark_fibre

Mon, 09/29/2014 - 00:50 | 5266114 Kirk2NCC1701
Kirk2NCC1701's picture
A lot of that Dark Fiber Backbone is owned by a Hewlett and a Packard. It's a helluva lot faster than the Web we have to deal with. And they got acres and acres of blade server farms.
Wait... it gets "better": The Bright Web financed the Dark Web. Call it "Dark Leveraging", courtesy of the Plebeian Masses.
Sun, 09/28/2014 - 22:27 | 5265990 Caveman93
Caveman93's picture
All White Men. Shocked I say!
Mon, 09/29/2014 - 02:56 | 5266213 Eirik Magnus Larssen
Eirik Magnus Larssen's picture
From Goldman Sachs to Missing White Woman Syndrome, white privilege appears alive and well in the 21st century.
Sun, 09/28/2014 - 22:31 | 5265994 whatsinaname
whatsinaname's picture
Listen Bangalore - Coming from the Land of (now Modi) you seem to have some sort of deep issues. Could you just get lost ?
Mon, 09/29/2014 - 06:17 | 5266280 Bangalore Equit...
Bangalore Equity Trader's picture
Listen Name.
http://www.usatoday.com/story/news/world/2014/09/28/india-modi-appearanc...
the country's large number of educated professionals means "we will provide a workforce to the entire world," Modi said. "You cannot go anyplace in the world and not see an Indian."
"He loves India. He want to present the philosophy of India — live and let others live, peace and tranquility.
Janus has "SPOKEN".
Mon, 09/29/2014 - 03:05 | 5266218 SAT 800
SAT 800's picture
But how do you know that what they want is not self-destructive. they are powerful but not wise.
Sun, 09/28/2014 - 19:23 | 5265644 JustObserving
JustObserving's picture
Why do you think that the consummate insider from Omaha invested in Goldman and made billions?
Mon, 09/29/2014 - 00:53 | 5266124 Kirk2NCC1701
Kirk2NCC1701's picture
Or why half his crew are ex-Goldman types.
The more things Change...
Sun, 09/28/2014 - 19:23 | 5265647 Bangin7GramRocks
Bangin7GramRocks's picture
I CONCUR.
Sun, 09/28/2014 - 20:16 | 5265762 IridiumRebel
IridiumRebel's picture
Me too. They could rape puppies and be heralded for their "foresight".
Sun, 09/28/2014 - 19:31 | 5265651 homiegot
homiegot's picture
Goldman Sachs is the Fed and the Fed is Goldman Sachs.
Sun, 09/28/2014 - 21:05 | 5265848 snodgrass
snodgrass's picture
Goldman Sachs is also the Treasury Dept. The Rothshilds control all the central banks, including the federal reserve. Gee, the money changers are back. What a shock.
Mon, 09/29/2014 - 02:12 | 5266181 mc225
mc225's picture
usa=republic of goldman sachs
Sun, 09/28/2014 - 19:28 | 5265652 Bangin7GramRocks
Bangin7GramRocks's picture
What if you could buy stock in La Cosa Nostra in the 1950's? They controlled gambling, trucking, trash, textiles and protection. Same thing. Goldman is a racket that controls governments. I think they should all be in prison, but in the current environment it is a slam dunk stock!
Sun, 09/28/2014 - 21:53 | 5265931 Socratic Dog
Socratic Dog's picture
Seems to me that he Cosa Nostra took over the US in 1963.  They expanded their potential employee pool by adding israelites to sicilians, and haven't looked back.  They have been running the show for 50 years.
It explains a lot.
Sun, 09/28/2014 - 19:29 | 5265659 grid-b-gone
grid-b-gone's picture
Yes, but they're not passing that on to shareholders. GS does not rise to the top of many stock screens. Insiders are the benefactors.
Sun, 09/28/2014 - 19:29 | 5265663 All Out Of Bubblegum
All Out Of Bubblegum's picture
Goldman Sachs is the Rothschilds. We all know this, right?
I'll keep posting this link until my arm falls off:
http://unicornpoo.wordpress.com/2011/10/27/very-pleased-we-have-entered-...
Sun, 09/28/2014 - 19:55 | 5265714 QQQBall
QQQBall's picture
HOPE Obomber will CHANGE it.

s/
Sun, 09/28/2014 - 19:56 | 5265715 Casey Stengel
Casey Stengel's picture
I lurk on ZH to sift thru all the crap to find nuggets that actually educate me. Thanks for the link. I will go back thru Edw. Griffin's Jekyll Is. book to see if there's any more to read on this.
Sun, 09/28/2014 - 20:51 | 5265813 All Out Of Bubblegum
All Out Of Bubblegum's picture
Your comment makes me happier than you can know. It feels like I'm walking through a desert sometimes trying to get history out to a culture that has no context.
Many thanks for the kind words. Spread this info around if you're so moved.
Sun, 09/28/2014 - 20:51 | 5265814 Otto Zitte
Otto Zitte's picture
Reality of Money by G Edward Griffin
Mon, 09/29/2014 - 01:19 | 5266139 Wild Theories
Wild Theories's picture
I like you Casey, I'm a failed lurker myself(used to lurk, but sometimes couldn't resist saying something), always panning for nuggets of useful info amongst the trashheap of ZH comments with my little metal detector.
Sun, 09/28/2014 - 19:30 | 5265665 Last of the Mid...
Last of the Middle Class's picture
They do have a secret handshake, well kinda, Obama puts his pecker in yer azz, then you can join the club and know what goldman is allowed to do.
Sun, 09/28/2014 - 19:32 | 5265670 WhackoWarner
WhackoWarner's picture
Spot on a per usual.
Keep it up, Why?  Someone has to and you have the readers.  Thanks.
Sun, 09/28/2014 - 19:34 | 5265672 nmewn
nmewn's picture
But the Fwank-Dawd Act fixed it!
Dey pwomised! ;-)
Sun, 09/28/2014 - 19:52 | 5265708 knukles
knukles's picture
quit making fun of my wispt
Sun, 09/28/2014 - 20:09 | 5265744 Hulk
Hulk's picture
If you stop typing with your tonque no one will know about your wispt...
Sun, 09/28/2014 - 20:37 | 5265799 Boxed Merlot
Boxed Merlot's picture
quit making fun...


I still find it absolutely incomprehensible nothing was done when his pedestrian room-mate's menu of sexual delicacies being offered for sale to fellow perverts were listed a "Fannie or Freddie" delicacies.
Nothing funny about the illness these fatally infected people have been spreading among the people they supposedly represent.

Jmo.

Sun, 09/28/2014 - 21:03 | 5265835 nmewn
nmewn's picture
Mmm, Fannie & Freddie delicacies...lol...thats some seriously twisted hors d'oeuvre's served up to the Friends of Angelo. And yet Dodd & Raines never got the slightest bit of heartburn from it.
Why, they must be immune ;-)
Sun, 09/28/2014 - 21:46 | 5265917 Clowns on Acid
Clowns on Acid's picture
Barney " He made me bite the pillow" Frank....
Sun, 09/28/2014 - 22:33 | 5265998 NoPension
NoPension's picture
And that cocksucker actually used the term " teabagger" to describe my fellow patriots. A guy who ACTUALLY has had nuts slapping him in the forehead.
The Gall of these people.
Sun, 09/28/2014 - 19:35 | 5265674 The Econ Ideal
The Econ Ideal's picture
Disappointing coming from Hunsader (unless of course he was just being cynically sarcastic). The more that refuse to do business with GS or to share the same business practices, the better off we are. Fight corruption.
Sun, 09/28/2014 - 19:41 | 5265688 Tyler Durden
Tyler Durden's picture
Of course he was - sooner or later everyone becomes "cynically sarcastic"
Sun, 09/28/2014 - 19:45 | 5265694 ekm1
ekm1's picture
yes
Sun, 09/28/2014 - 19:48 | 5265699 Skateboarder
Skateboarder's picture
Not me - I became "sarcastically cynical".  :-)
Sun, 09/28/2014 - 19:53 | 5265707 NoDebt
NoDebt's picture
You'll get past that.  The modern world wouldn't run without corruption.
Sun, 09/28/2014 - 20:33 | 5265790 One And Only
One And Only's picture
We all want Blankfein to fuck us in the ass. Right? Come on guys right!? Even with just the tip and a lot of lube. Right?
Sun, 09/28/2014 - 22:48 | 5265982 Radical Marijuana
Radical Marijuana's picture
"it’s a sick and perverted joke
played on the American people"
& reminds me of 2 quotes of Lily Tomlin:
"No matter how cynical you become,
it's never enough to keep up."  AND,

"The best mind-altering drug is truth."
It is no longer possible to keep up, no matter now cynically sarcastic, or sarcastically cynical, one attempts to be. In my view there is nothing left which is sufficient to cope than to go THROUGH the Looking Glass of the Bizarro Mirror World.
After we get to the degree of recognizing the FACTS that the government is the biggest form of organized crime, controlled by the best organized gang of criminals, while that situation is becoming both more painfully obvious as it becomes more blatant, and more patently clear that there are no practical ways to actually change anything with respect to that social situation, I have concluded that we should go through the paradigm shifting in our perception of political science to accept understanding how and why that IS the case!
I submit that one can only become sufficiently convinced of the degree to which the social facts ARE as described in that "awesome" article above by going THROUGH the paradigm shifting processes that STOPS perceiving the world using false fundamental dichotomies and their related impossible ideals, regarding how political processes work, or ever could work. I suggest that we should go BEYOND being cynical or sarcastic, because those attitudes still presume upon the bogus validity of believing in the bullshit of false fundamental dichotomies and their related impossible ideals. I assert that better understanding of human systems as general energy systems can enable us to understand why good analysis always reveals that human realities are organized lies operating robberies. Furthermore, that perception then means that the only ways to cope with those facts is to work towards better dynamic equilibria between the different systems of those organized lies operating robberies.
Nobody can "stop" money being measurement backed by murder. Anyone recommending that we should "stop" that is promoting the same old impossible ideals, which are guaranteed to backfire badly, and continue to cause the opposite things to actually happen in the real world. In my view, the reasons why we are still inside some states of mixtures of cynical sarcasm is that we are still operating within our collectively brainwashing to believe in the biggest bullies' bullshit world view, which perceived politics through false fundamental dichotomies, and therefore, tends towards recommending bogus "solutions" based on impossible ideals.
I am not sure that the human species will survive to have enough time to grow up, or mature to not being so childish. However, IF that is possible, then we would have to go through a series of intellectual scientific revolutions with respect to the basic ways that we perceive and discuss the political economy. We have already reached the point where the runaway systems of the government being the biggest form of organized crime, controlled by the best organized gangs of criminals, have no ways to be "stopped." Indeed, in my view, that is an impossible ideal, which is surely never going to work. Rather, I think that we are going to have to hope to be able to survive through towards enough people understanding sufficiently how and why we have ended up with the currently existing situation, where the biggest gangsters, the banksters, actually control the government, which government therefore manifests as the biggest overall form of organized crime.
At the present time, all of the publicly significant religions and ideologies are based on false fundamental dichotomies, which support impossible ideals as their bogus "solutions" for these problems. Certainly, there should come some point where more fully facing the social facts finally goes THROUGH that Looking Glass of our Bizarro Mirror World, to better understand how and why that situation developed, and what could be done about that which was not based on promoting the same old-fashioned impossible ideals as the basis for some better resolutions of those social situations.
In my view, people are not getting remotely close to becoming cynical and sarcastic enough, because they still want to hold on to their sets of favourite false fundamental dichotomies, and related impossible ideals, which is why they feel disappointed to discover the degree to which the biggest gangsters are the banksters, which have captured control over the powers of government, and thereby  been able to effectively privatize those powers of government.
Rather, we should begin with the concept of relative SUBTRACTION, which then generates the concept of ROBBERY. From that perspective then, everyone has some power to rob, and to kill to back that up, as the most extreme form of robbery.  Sovereignty is based on that power to rob. Governments have developed through the history of warfare to assemble and channel the power to rob. Those powers of sovereign states have had their control captured by the people who were the best organized gangsters, applying the methods of organized crime to the political processes.
That has resulted in the empirically observed situation, where corporations like Goldman Sachs have effectively captured control over the powers of governments, so that those powers were privatized in ways which serve the interests of Goldman Sachs. What I am proposing is a general scientific theory to understand how and why that happened, which theory then does not collapse back to the same old-fashioned religions and ideologies, promoting the same impossible ideals as the bogus basis for the "solutions" to these political problems. The more that one learns about how the banksters are controlling current civilization, the worse that gets: "No matter how cynical you become, it's never enough to keep up!" Rather, we are reaching the point where we have to go through a profound paradigm shift regarding how we perceive politics in order to cope with discovering the real social facts.
"The best mind-altering drug is truth," and we need much more RADICAL TRUTHS to comprehend and deal with the degree to which our civilization has obviously become based on integrated systems of legalized lies, backed by legalized violence, in which situation the biggest gangsters control governments.
Mon, 09/29/2014 - 16:10 | 5268112 trader1
trader1's picture
it's all a joke
Sun, 09/28/2014 - 20:17 | 5265743 ebworthen
ebworthen's picture
I believe buying U.S. Treasuries would be more cynically sarcastic.
That, or being all in cash.
#1:  Exterminate Central Banks!
Sun, 09/28/2014 - 19:36 | 5265680 One And Only
One And Only's picture
FUCK YOU BERNANKE!!!!
Sun, 09/28/2014 - 19:38 | 5265683 Amish Hacker
Amish Hacker's picture
When you're doing God's work, you never have a losing day.
Sun, 09/28/2014 - 19:40 | 5265684 q99x2
q99x2's picture
Coup. a sudden, violent, and illegal seizure of power from a government.
"he was overthrown in an army coup" synonyms: seizure of power, coup d'étatputschoverthrowtakeoverdeposition
Sun, 09/28/2014 - 19:39 | 5265685 disabledvet
disabledvet's picture
Bwhahahaha. Like Judges matter.
Who pays for the debt...you might think that would matter.
Sun, 09/28/2014 - 19:43 | 5265689 ekm1
ekm1's picture
So, Goldmans Sacks, the so called 'super powerful" Goldman Sachs, couldn't really stop a freaking tape being published, it's been months already

So, how is Goldman powerful then, when they can't stop such a leak?

Sun, 09/28/2014 - 19:52 | 5265705 Jameson18
Jameson18's picture
You are missing the point. The power isn't in the stopping. Its in the we don't give a shit if it gets out because you goys can't touch us.
Sun, 09/28/2014 - 19:57 | 5265717 ekm1
ekm1's picture
Why did they fight Segarra in court then?
Sun, 09/28/2014 - 21:02 | 5265837 insanelysane
insanelysane's picture
They don't fight in court, they own the court.  It is the same bullshit that Corzine got away with.  The were allowed to file for a bankruptcy type that they weren't "legally" supposed to.  The client's money should have been primary but it wasn't.  With Segarra, the "legal" system just stated the filing wasn't valid.
Sun, 09/28/2014 - 21:32 | 5265891 ekm1
ekm1's picture
Correct. So, if they didn't care, then they would just allow the case case to proceed.

Mon, 09/29/2014 - 00:11 | 5266083 Terminus C
Terminus C's picture
Pretense keeps the sheep asleep.
Also, who's to say she's not in on the gig.  GS appears invincible in the staged fight and people don't even bother to fuck with them...
Mon, 09/29/2014 - 00:16 | 5266089 Bay of Pigs
Bay of Pigs's picture
They don't want anymore bad press, so they buried it. Just like they do with everything else putting them in a bad light. These guys are running the show ekm1. They are above the law.
Mon, 09/29/2014 - 06:59 | 5266302 prymythirdeye
prymythirdeye's picture
You're not catching on, are you?  You've been here 12 weeks.  Give it some more time.
Sun, 09/28/2014 - 21:14 | 5265862 LibertarianMenace
LibertarianMenace's picture
Was it actually a fight? Abrams did throw the case out, no?
Sun, 09/28/2014 - 21:34 | 5265894 ekm1
ekm1's picture
Which means that Goldman actually feared that that news become public and tried to cut it off from the get go
Sun, 09/28/2014 - 22:17 | 5265965 LibertarianMenace
LibertarianMenace's picture
By now, they know the drill. There's no telling whether fear is the right term or not, but I get the impression they don't give a shit, they figure their normal channels of defense will deal with her; Kind of like that bug zapper on a back porch in summer time. They also know by now that the general public is both ignorant and comatose, so no, I don't see them caring. Nobody's going to make them care either. The fund guy's comment in jest I take it, is nevertheless true: they can do whatever the hell they want. Fear isn't usually the kind of thing that correlates with that kind of knowledge or attitude.
The day the Squid is hauled off to jail for so much as a parking ticket, we'll know that things are different and that perhaps they should start looking up the meaning of the word fear.
Sun, 09/28/2014 - 19:53 | 5265711 lunaticfringe
lunaticfringe's picture
Riddle yourself this. Did they have to? Absolutely nothing has happened or will happen.
Sun, 09/28/2014 - 19:56 | 5265716 ekm1
ekm1's picture
So, by the same logic, they would allow such incidents leak, because you know, they don't care.

If they didn't care, they wouldn't fight Segarra in court
Sun, 09/28/2014 - 20:58 | 5265829 lunaticfringe
lunaticfringe's picture
Yea and what will happen? Nada.
Mon, 09/29/2014 - 06:57 | 5266299 prymythirdeye
prymythirdeye's picture
IT IS ALL A SHOW....THEATER FOR THE MASSES....HOW MANY TIMES DOES THIS NEED TO BE SAID?
Sun, 09/28/2014 - 22:00 | 5265940 shuckster
shuckster's picture
GS, for all their clout, are still stupidly conservative in that they won't whack a girl. They've off'd plenty of guys throughout the years, but like most rightists, they see a girl and get all soft around the edges. That's the beauty of this whole situation
Sun, 09/28/2014 - 22:37 | 5266006 NoPension
NoPension's picture
I'd stay away from home improvements, tall buildings and boats if I where her.
Mon, 09/29/2014 - 00:09 | 5266084 Terminus C
Terminus C's picture
Don't forget hot tubs and tea...
Mon, 09/29/2014 - 05:46 | 5266267 CuttingEdge
CuttingEdge's picture
Given the bodyguards Blythe Masters totes around these days, its obvious JPM have no such compuction.
Sun, 09/28/2014 - 19:44 | 5265690 LawyerScum
LawyerScum's picture
As long as we adhere to the fractional/central banking paradigm, this type of situation will continue ad nauseam. What do you expect? These fucking degenerates can literally conjure up (fiat) money out of their asses. I have given up telling others how much they are being royally butt-fucked by the system...all I get are blank stares of incomprehension.  Let's face it, the money changers have won.
Sun, 09/28/2014 - 20:03 | 5265731 WhackoWarner
WhackoWarner's picture
They have won for decades and through 2 major wars.
Perhaps this time they won't.  Unless they succeed in shutting down info sharing. (which is the aim).
Not one country on this planet has need of a Central Bank. Period.  Every nation has the power to issue their own currency.  So WTF does anyone need these guys for?

Money changers is the clue.  Why does a nation allow the creation of their own currency tied to debt?  Insane.

For fellow Canadians ponder why the Bank of Canada does not issue our money?

Sun, 09/28/2014 - 20:29 | 5265784 ekm1
ekm1's picture
Central bank duty in capitalism is NOT to create money, only enough money to cover interbank funding shortfall, very little
Your corner bank branch creates 97% of the money

In communism, central bank creates all the money
Sun, 09/28/2014 - 21:29 | 5265883 LibertarianMenace
LibertarianMenace's picture
There is no central bank in capitalism, there are only competitive notes issued, and those only redeemable in specie. No need at all for a central bank. In fact, the US operated quite well without one. See a study by Rolnick and Weber published in the late 70s about the wildcat banking era here in the US. I also recommend the book, The Rationale of Central Banking and the Free Banking Alternative by Vera C. Smith. She presents a very good history of how these centralized rackets developed. But you're right, the communists and their bankers have done quite well for themselves in the ole USA.
Sun, 09/28/2014 - 21:38 | 5265896 ekm1
ekm1's picture
No objection
I was trying to explain that commercial banks create most of the money by monetizing the real output of the economy. The system does not necessarily need a central bank
Sun, 09/28/2014 - 21:11 | 5265858 Oldwood
Oldwood's picture
What is it you fail to understand about "too big to fail"? Our current government can't survive without GS.
Sun, 09/28/2014 - 19:48 | 5265698 Cautiously Pess...
Cautiously Pessimistic's picture
These rabit holes go on for miles.

I can't wait to see CNBCs in depth, hard-hitting, expose outing these criminals this week.  Wait, what's that? CNBC plans on looping Shark Tank re-runs all week?
Sun, 09/28/2014 - 20:01 | 5265728 knukles
knukles's picture
One of the inanely asinine programs ever conceived by idiots and megalomaniacs ....
Why, simply everybody identifies with the panel of downright mean spirited rich folk
Sun, 09/28/2014 - 19:48 | 5265700 lunaticfringe
lunaticfringe's picture
Wow. I have to say this story makes me sick to my stomach. It is an indictment on just how fucked up our system is from top to bottm. There is no way of fixing it. From the lowest government employees right through to Congress, the Supreme Court and our idiot in the WH. Our only hope is that the entire fucking mess collapses.
Sun, 09/28/2014 - 20:28 | 5265783 JohnG
JohnG's picture


Oh, there's a way to fix it alright.  Thing is, it involves guns and ropes and a lot of blood and a good deal of dying, and no one seems to have any stomach for that these days.
Plus, revolution is damned dangerous business.  Never know how it ends up.  Could get better or worse, depending.
Collapse is not so great either.  You end up starving or dying of a cut if you are not very well prepared.  You might get shot for those preps too.
All in, it's a shitshow for sure.  But how many are willing to get it over with so our children can have someti=hing like a decent life??
It's coming anyway.  I'll take as many as I can with me.  No one gets out alive.
Sun, 09/28/2014 - 21:18 | 5265866 nmewn
nmewn's picture
+ .308
Sun, 09/28/2014 - 22:20 | 5265979 gatorboat
gatorboat's picture
China/Russia will do to the western financial "cabal" what gutless sheep Americans won't do.
But it won't be pretty when your dollars are near worthless.
Karma's a bitch.
Sun, 09/28/2014 - 22:06 | 5265955 Trucker Glock
Trucker Glock's picture
"Our only hope is that the entire fucking mess collapses."
People appear shocked when I say I want to witness SHTF, no matter how painful.  I have no children and nothing to lose.  I will be disappointed if this shit drags on longer than I do.
Mon, 09/29/2014 - 00:22 | 5266104 Global Observer
Global Observer's picture
I will be disappointed if this shit drags on longer than I do.
It won't. Don't be disappointed that it hasn't already happened. The longer the delay, the bigger the collapse and the greater the chance of it staying down and never coming back up.
Sun, 09/28/2014 - 19:49 | 5265702 WhackoWarner
WhackoWarner's picture
Long read but should be downloaded and considered by everyone commenting here (including the minimum wage paid trolls of opinion).

http://arxiv.org/PS_cache/arxiv/pdf/1107/1107.5728v2.pdf
Sun, 09/28/2014 - 21:41 | 5265906 LibertarianMenace
LibertarianMenace's picture
Thanks for the link. Economics may lie, but math and system theory don't.
Mon, 09/29/2014 - 03:13 | 5266222 NaN
NaN's picture
Good analysis of plutocracy.
Mon, 09/29/2014 - 12:21 | 5267133 Buckaroo Banzai
Buckaroo Banzai's picture
Fascinating.
Sun, 09/28/2014 - 19:51 | 5265703 Blankenstein
Blankenstein's picture
This is from 2009, but still very important.  Representative Cliff Stearns questions Hank Paulson about the bailouts and highlights how AIG was bailed out with taxpayer money and used to FUNNEL it to the squid.  He brings up conflicts of interest with the government and the squid.  It is maddening to watch this and realize that NO ONE has gone to jail for any of this.

http://www.youtube.com/watch?v=fayl3nEEK5U#t=28
Sun, 09/28/2014 - 19:57 | 5265719 lunaticfringe
lunaticfringe's picture
I've been asking myself for 6 years why Paulson isn't in jail. Then the fucking clown has the audacity to publish a book telling us how he saved us. You cannot make this shit up. A piece of rope, used liberally, cures this.
Mon, 09/29/2014 - 01:29 | 5266145 Otrader
Otrader's picture
The best thing one can do right now is educate family, friends and co-workers about what happened and still going on.  Awareness will (hopefully) bring these criminals down.
Mon, 09/29/2014 - 10:51 | 5266835 ajax
ajax's picture


Goldman Sachs Warns Investors About Tar Sands By Rail Challenges While Investing in Tar Sands By Rail GOLDMAN HIDES SANTANDER DEBT OFF BOOK
GOLDMAN HIDES GREEK DEBT OFF BOOK

Mon, 09/29/2014 - 03:30 | 5266239 mc225
mc225's picture
in my opinion, jail is not the answer. to the contrary, the answer is in allowing anyone anywhere to carry out similar or identical scams, and no one ever goes to jail for it. level the playing field through offering scamming opportunity to everyone. jail never works. ymmv
Sun, 09/28/2014 - 19:56 | 5265718 VWAndy
VWAndy's picture
Maybe we should write letters to thier congresspeople?
Sun, 09/28/2014 - 20:32 | 5265721 michigan independant
michigan independant's picture

http://solari.com/00archive/doc/caf/Business_Week-27Nov1989.pdf

Warnings about Fannie Mae and Freddie Mac go back to the late 90's! On Jan 26, 2005, Chuck Hagel introduced a bill 'Federal Housing Enterprise Regulatory Reform Act of 2005' with cosponsors John Sununu and Elizabeth Dole. John McCain signed on as cosponsor May 25, 2006.
The bill apparently stalled/died along the way. It was resurrected as S. 1100, Housing Enterprise Regulatory Reform Act of 2005', Never let a good political kill switch crisis go to waste.
Daily Koz post S190 was discussed in the Senate Banking Committee on July 28, 2005 with the result, "Ordered to be reported with an amendment in the nature of a substitute favorably", which I believe is Congress speak for, "we don't like this, please go rewrite it and we may reconsider", i.e., the bill died in a Republican controlled committee and never came to the floor of the Senate or back to the Senate Banking Committee for reconsideration. S190 died in committee. The toxic sausage was a gamed tool box operation only. Once the language was out from the revision it was feeding time.
http://voices.washingtonpost.com/dot.comments/2008/09/mccains_gamble.html
Sun, 09/28/2014 - 19:57 | 5265722 nah
nah's picture
old K.F.C double down
Sun, 09/28/2014 - 19:59 | 5265726 Karaio
Karaio's picture
Uai Tyler!
You are so weird .....
It seems they never heard of Maçonaria ...
hehe.
Sun, 09/28/2014 - 20:00 | 5265727 buzzsaw99
buzzsaw99's picture
Abrams, lulz.
Sun, 09/28/2014 - 20:12 | 5265751 lynnybee
lynnybee's picture
we all know it !!   https://www.youtube.com/watch?v=aC19fEqR5bA
we're all gonna end up destitute unless we throw these people in the slammer !
Sun, 09/28/2014 - 20:44 | 5265801 Otto Zitte
Otto Zitte's picture
Not destitute. In chains. Slaves.
Sun, 09/28/2014 - 20:49 | 5265810 One of We
One of We's picture
+1 for the good link.
Mon, 09/29/2014 - 15:50 | 5268059 WmMcK
WmMcK's picture
Thanks for the reminder.  Has it really been 3 years since that video came out?
Sun, 09/28/2014 - 20:22 | 5265775 ebworthen
ebworthen's picture
I'm only o.k. with this if I get a piece of the action.
Janet, send me my $3 Million tax free.

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