$$$ Goldman Sachs’s Further Comments on SEC Complaint: “We are disappointed that the SEC would bring this action related to a single transaction in the face of an extensive record which establishes that the accusations are unfounded in law and fact.” [iMarketNews]
$$$ Katie Benner reports: The SEC Says John Paulson Won’t Be Next [Fortune]
$$$ Jes Staley: “If Jamie doesn’t leave, then I probably need to leave myself in a few years,” says Jes Staley. “If it’s not me, it’s still been a blast working for Jamie. He is one of the greatest people in finance in my generation. At that point, I am going take an office at Highbridge and sail.” [Fortune]
$$$ Some Syracuse Students Are Psyched That Jamie Dimon Is Giving Their Commencement Address [Daily Intel]
$$$ Goldman Knew For Months Charges Were Possible (although Charlie Gasparino begs to differ) [Reuters, FBN]
$$$ Matt Taibbi: “I heard whiffs of this story going back as far as a year ago”
I love you Bess
“I am not a crook”
-LB
But Matt there has been a culture change.
We no longer practice Prima Nocta during earning season.
-Notorious VP
Thank god Julie was able to ask all her questions in front of Goldman’s headquarters.
Dear SEC, you fucked up, bad, again. Stop the Obama led inquisition against hard working white people on wallstreet who create value and go run an ACORN branch office you useless fucks.
@5 – Why don’t you tell us how you really feel?
.
kickass
There once was a man named Tourré
He toiled for The Squid night and day…
http://www.thereformedbroker.com/2010/04/16/goldman-fraud-poetry/
EVERYONE did these shitty deals. Odd how the government is focusing on this as the senate begins to think about how it can gain more government power and exert even more useless control of the financial system. With the SEC, Sarbanes Oxley, and all of the Security Act of 19XX…you’d think we would have figured this out by now….why do we need even more government control? Oh right, bc you keep fucking up our markets by getting involved and forcing things thus creating severe dislocations.
@10 Shut up, Lloyd.
@4 – the funny thing was that Julie was actually across the street so 6 lanes of traffic were between her and the GS building. Even though she is Bloomberg, she was standing right next to the CNBC truck for the live shots. Was hoping that all the idiots would have gone to 85 Broad for video but the article in the WSJ today on the new Death Star (sorry ML alums but the new GS building will always be called that before the new BoA building next to Bryant Park) made it so that even the clowns knew where to go. I guess the real test will be the location of the next Sharpton protest.
– Fixed Income
god damn I hate fucking idiot taibbi. when does this guy get what’s coming to him
@7 is anti-Semite scum. Bess please smite him.
@13 why do you hate Taibbi? he is admittedly a non-financial reporter looking at this story from the eyes of main street, and basically reiterating what everybody now knows. Goldman is exposed for what they are, a bunch of scumbags,,the whole thing stinks to high heaven…
Lloyd,
You are a gut maggot without guts.
- yrag yesub
I smoked a fuck load of weed and watched this video. Freaked me the fuck out.
http://www.youtube.com/watch?v=q05gWVeS8dg&feature=related
SPODE
@17 SPODE – are you seriously back?
THE BEST WAY TO DISCIPLINE CNBC MANAGEMENT WHO LET THEMSELVES HELD HOSTAGE BY UNETHICAL ON -AIR BEHAVIOR OF some OF THEIR TALKING HEADS IS TO BOYCOTT ADVERTISERS and NOT TO WATCH THE CHANNEL UNTIL THEIR RATINGS GO DOWN THE DRAIN!
Yesterday’s incident between Erin Burnett, James Cramer and Sylvain Raynes was a big blow to
the image of CNBC! Do you know what that was? The video was kept out of CNBC web site BUT it’s all over Twitter.Actually, Dealbreaker has it here.
Again, Erin Burnett showed her immaturity/amateurism, this time, in handling on-air conflict.
Erin Burnett and James Cramer are used to being praised all the time by suckers and looked up to like gods on TV and thier words are like sacred. That incident yesterday came as a surprise.
Some one on Twitter just tagged Erin Burnett and James Cramer as “Pal of Shame”.
Has it sunk in yet? Friggin’ GOLDMAN has been charged with fraud. The guys who go to great lengths to ensure everything is barely legal and still enough get away with it have been charged. I know the SEC isn’t halfway competent but unless they have something else up their sleeve, they wouldn’t dare charge GS like this. They would have quietly settled for 50-100 mil BUT they want to make a big show out of this. They have a lot on the line too.
I can only imagine what stupid sh*t other firms pulled. This ain’t over yet. Maybe this is like ’87 where a ton of illegal stuff dribbles out over time.
everytime Matt Taibbi goes on air it smells like a wicked piece of Kouwe in my office.
Matt Taibbi — rodeo clown of journalism
@5
You do not create value, you exact rent.
There’s no more wholly and sacred truth about business reporting now; it’s all about business and cover up.
Hey hey hey HEY HEY!!!!!!!!! No name calling, you anti-Goldman person!!!!!! You won’t be back!!!!
~Erin Barnett Shale
Obama accepted huge donations from WS “fat cats” when he ran for office. Why was it ok to buddy up to WS during the campaign while the economy was faltering at the hands of WS (as he puts it)? Was he unaware of WS’s possible involvement while he threw $10,000 per plate dinners?
As he has on so many other issues, he has completely backtracked on the Obama that campaigned and the one that is now POTUS. He is basically a liar. I think GS is a sleazy company and clearly they are ripe for a fall and deserve it. I further despise GS for giving Obama and the the DEMS a a shining example of what is wrong with WS.
One bad bad company has fucked it up for the entire street and subsequently NYC’s life blood and economy.
The one good thing that can come from this… no more fundraisers for the DEMS.
GET THEM OUT!!!
It’s pretty clear that the SEC is tired of being constantly reminded of how they fucked up and are just looking to shift attention. Sure they might score a victory but they will always be remembered for being incompetent.
Yea but the SEC is going to be considered incompetent when this is over, given that all the parties in the deal were well aware of the qualities of the junk in Abacus.
There is probably any amount of precedent that shows that counterparties are not revealed on every deal, and there is probably factual evidence that the purchasing parties were well aware of the constituent parts of the Abacus deal, and had a different opinion of the assets, greed crowding out clarity.
GS beats SEC 1-0.
i relish my appointment with GSAM this week
What’s the story with these “3 Month” bonuses at GS?
Never heard of anything like this ever.