goldman sachs

hello ot. liberalus here.

wats ur opinion of goldman sachs and their leader mr. llyod blankfein? do u think they are one of the main causes of the economic crisis? are these capitalist bougeroise the reason why ppl are starving?

They should give me some money.

Their name always manages to make me think dirty, childish thoughts.

god damn you are stupid

god damn you are stupid

lostrib

[QUOTE="lostrib"]

god damn you are stupid

liberalus

Can you tell me why you can't spell bourgeoisie?

I dont know what that is.-Fromage-

Well let's break it down:

Gold Man Sacks

...I'm just gonna  stop there

proud anarcho-feminist

LGBTQ pride

Thanks for the lulz.

[QUOTE="lostrib"]

god damn you are stupid

liberalus

Prior to the economic meltdown, many, many financially unstable people who should not have received home loans got them.  Goldman Sachs, like many other brokerage houses, began to securitize mortages in a big way and selling these mortage-backed securities to institutional investors.  However, as certain emails from Goldman trader Fabrice "Fabulous Fab" Tourre revealed, Goldman knew these investments were terrible but sold them as grade A investments anyway.  Goldman and others also would sell the mortage-backed securities to one customer while taking a short position on them for another customer.  This is not illegal per se, but the lack of disclosure makes Goldman out as unethical.

Goldman Sachs as a firm settled with government regulators but did not admit liability.  Goldman trader Fabrice did not settle, tried to defend against the SEC charges, and was found liable for fraud.

Although Goldman Sachs played a major role in precipating the crisis, it should not bear the full burden of guilt.  That being said, Goldman Sachs has always been tainted with sleaze.  I understand what Goldman Sachs does, but I don't respect the firm.  My personal opinion.

[QUOTE="-Fromage-"]I dont know what that is.lostrib

Well let's break it down:

Gold Man Sacks

...I'm just gonna  stop there

I rest my case.

I dont know what that is.-Fromage-

Nah its Bush... Timeline:

2000 - Clinton leaves office, last two years US Federal Government had been operating on a surplus.

2001 - Bush gets into office, facilitates the lowering of taxes.

2001 - 9/11

2001 - Invade Afghanistan

2002 - Lower Taxes

2003 - Invade Iraq

2003 - Lower Taxes

2003 - Oil prices start going up.

2004 - Lower Taxes

2005 - Lower Taxes

2006 - Subprime mortgage lending at all time high, banks have the more freedom than in decades, capitalism, 'Merica

2007 - Sh-t explodes, better lower taxes again since everyone's broke.

2008 - Taxes low, two wars, oil expensive, economy is still sheet, spending is low.

2009 - Obama "let's raise taxes to where they were when we operated at a surplus" COMMUNIST AHAHHAHH KENYA