Crudele: Questions About Goldman Sachs Role in Market
Submitted by Michael Nystrom on Thu, 04/30/2009 - 10:37
in
by John Crudele | New York Post
April 28, 2009
SOMETHING smells fishy in the market. And the aroma seems to be coming from Goldman Sachs. As you probably already know, stock prices have been roaring for seven weeks.
This has created a historic rally despite the fact that the economy continues to be in serious trouble, banks are still wheezing under the heavy load of bad assets, workers are being laid off each month by the hundreds of thousands and nobody seems to have answers to our problems...
...But can you trust what the stock market is now doing any more than the rally last summer that ended badly or the one last December that ended horribly?
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GS is getting the money from the FED to buy the banks...
Remember when Paulson said he was going to use the money to buy "bank equities", instead of purchasing "toxic assets". I was in disbelief when I heard that.
BUT, that is EXACTLY what has been going on in the stock market, WITH the corruption of the SEC and changing their Mark to Market accounting rules to cover up and hide the toxic assets.
Isn't crazy these banks are reporting PROFITS??
It's really outrageous. Here they were near BANKRUPTCY, and they are reporting PROFITS?
Whew....
It's because Geithner is getting the $$$$$$$$$$$$$ to buy the stocks of the banks.
AND, how long that will last?
I don't know. Ad infinitum, as long as they can get away with it.
It's just ONE MORE WAY of TRANSFERRING WEALTH from our 401k's to themselves.
Because so many retirees and others have bailed from these markets, so don't kid yourself when the markets go UP and UP. They are befitting. Many have bailed out.
And, the LACK OF VOLUME in the market these past few weeks speaks "volumes", if you ask me!
It's all air.
NOONE has gone to jail, yet what GS has done is CRIMINAL
Paulson, a GS CEO, exclaimed we would go into a "DEPRESSION" if we didn't give him the money.
WHY?
Sure, HE was worried, worried about himself and his rich elitist buddies who were corruptly gambling in derivatives.
Yes, HE was worried. Were FOREIGN ENTITIES they had duped demanding they have their money back, or else???
It makes one wonder, doesn't it?
So, all this was hype in order to get their own sorry a''''''ses off a BIG hook. That's my impression. I smelled BIG RATS. In fact, I'd go so far to say I believe they *WERE* scared, because there were probably some really big threats from foreign elitists outside the country.
But, the answer is to FOLLOW THE MONEY.
THAT means we need to open the "personal" financial accounts of all these people who were begging for money. That includes PAULSON, BUSH, GEITHNER, BERNANKE, and all FED Bank CEO's. We need to see what they were doing in their own personal accounts AND when they were doing their transactions.
There are BIG conflicts of interest going on here. IF we were able OPEN UP ALL PERSONAL BOOKS, we could get to the bottom of a LOT.
The next targets for opening up financial personal accounts would be all the politicians associated with FANNIE MAE & FREDDIE MAC. That would be all the CEO's, executives, Vice President's, Congressmen Frank & Dodd, etc., and all those who may be legally culpable and involved.
THAT's what I think, but good luck ever seeing the TRUTH about what is going on.
I'll tell you what.
IF we, the American people, were to put a 100% chokehold on the CAMPAIGN CONTRIBUTIONS, we would see 90% of all the politicians retire overnight probably.
We should make it ILLEGAL to accept any contributions "in any form" from corporations, wealthy individuals, or large organizations.
Those who were proven guilty would have all their financial assets seized. All would be done by a non-corrupt judge. In other words, we would have "justice".
There's a LOT we, the people, could do to put an end to corruption in our government. But, we just don't have the power, unfortunately.
Wasn't the market on the rise
in the "Great Depression" while traders were on the way down? Just because traders are buying something doesn't mean its actually worth anything.
another great article on the situation by Matt Taibbi
http://www.commondreams.org/print/39825
A Fun Summary
A galloping comprehensive survey which still barely scratches the surface.
" ... if you look at it in purely Machiavellian terms, what you see is a colossal power grab that threatens to turn the federal government into a kind of giant Enron - a huge, impenetrable black box filled with self-dealing insiders whose scheme is the securing of individual profits at the expense of an ocean of unwitting involuntary shareholders, previously known as taxpayers."
Though he concludes:
"You Don't Get It"
This gonzo author himself doesn't quite 'get it' if he thinks the story is just about high rolling good 'ole boys drunk on licentious money scamming.
This perspective comes closer to the real up shot:
http://www.dailypaul.com/node/91589#comment-1003273
Goldman Sachs should be investigated
Goldman Sachs is manipulating the market and the government. They should be thrown in jail.
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