Friday, April 16, 2010

The Dam has been breached...

The Goldman Dam has been breached... expect severe flooding.

For the Government to go after Government Sachs, er.... the Anti-Christ, I mean Goldman Sachs... well, there is a lot to it.

Did Blankfein & Co.'s endless lobbying irk Obama to the breaking point? Or was it just the weight of the Mob overwhelming the weight of Goldman's gold bags? You can count on criminal indictments from the various States. The convictions are a foregone conclusion (even if they are factually innocent, which I doubt...).

This is BIG stuff. And just how bad will this all get to be on Paulson & Co.? Will he be forced to liquidate his financial stocks and Gold? If so, it won't pay to stand in front of a freight train... you gotta let it go past. Can the markets survive Goldman's demise? Very, very good question.

More soon.


kathy said...

My bet is that somebody had to pay if the dems are to have any hope in November. Not that I mind. It couldn't happen to a nicer bunch of guys.

Anonymous said...

Sure the market can survive Goldman taking a hit. Will it go down a bit, sure, but who really cares its all a big game based on irrational optimism anyway.

IF Goldman pays a billion or so, that's nothing to them, they made out so well in the past couple years, not including the Gov't helping to get rid of some of its competitors.

Maybe there wasn't any illegal activity via the Plutocracy in the past couple years--although it certainly doesn't look well when the cast of Characters in this drama from Henry Paulson, to Summers, to Geithner all had major financial ties to Goldman Sach's or were top exec's, or CEO.

Every time I see Summer's talking about regulations and how bad things were, when he helped decouple the system back in 1999 and then went on to get consultant fees from the same people he says he is trying to help "regulate" now.

This will take years to pan out, if Goldman fights it, which they seem to be willing to do--since P.R. isn't that big an issue for them, they cater to the ultra rich for the most part--its not like they are a community bank. Hell, if they can only pay out 1 billion, but net 100 billion+ then the hardcore bean counter capitalist types will say its just good business eh?


Shamba said...

When the situation with GS--antichrist, I love that one :)--is explained like it was on NBC broadcast evening news last night, then I have hope that some bad guys will pay something for all of this!

this also means that I know a lot of Americans will understand what happened with GS. Lots of them understood before Tom Brokaw talked about it, I'm sure, but I think he put it in terms that no one can miss at all.

My defninition of MSM news is NBC evening news, most of the time.

thanks for your blog,peace, Shamba

Donal Lang said...

Seems a dangerous game if the end result could be a mark-to-market for the industry.

What's that saying about 'fan' and 'shit'?

Anonymous said...

The new article from Denninger is worth reading on Goldman and the other members of the mega bank cabal.,-Securities-Fraud,-And-Skepticism.html

IF this becomes the 'start' to going after corruption and gaming the system, then perhaps some confidence will be restored eventually. But again, we had many of the inside players that were/are in high positions at the Fed/Executive branch--so it at least stinks on the surface.

Anonymous said...

This is more of government at it's worst. They are going after Countrywide now, too. Of course they deserve everything they get and more. But, the government ENCOURAGED the very activities that they are now going to prosecute. This dog and pony show is VERY dangerous and destabilizing to the whole system.

Perhaps we are returning from wholesale lawlessness inside and outside government, but I doubt it. The same issue exists on the illegal immigration. The border with Mexico has been deliberately left so porous that thousands of Mexicans a day gain entry to the US. How much has that porous border contributed to the drug and weapons trade? How much the wholesale corruption that has ensued contributing to the demise of the Mexican government? Nothing has changed there. It won't. Illegal Mexicans with fraudulent docs help to prop up Social Security. Both parties favor it.

So, my conclusion is that the DC elites haven't changed their moral strips. They are just finding that the old expediency of protecting the finance bums has served its purpose. The new expediency is to nail them to the wall. It makes me sick.


Coal Guy

Anonymous said...

Have you read Mish's post this morning about the NY FED and Lehman? How can the government prosecute the bankers when they were complicit in the fraud? AARRRGGHH! And I'm to believe that those on responsible committees in Congress had no idea either?

Coal Guy