Friday, April 16, 2010

SEC Accuses Goldman Sachs of Fraud

Via Reuters:

The Securities and Exchange Commission lawsuit alleges that Paulson & Co, a major hedge fund run by the billionaire John Paulson, worked with Goldman in creating the collateralized debt obligation, and stood to benefit as its value fell, costing investors more than $1 billion.

Fabrice Tourre, a Goldman vice president who the SEC said was principally responsible for creating the product, was also charged with fraud.
So, Goldman Sachs knew the housing market bubble was gonna burst but kept selling sub-prime mortgages, while selling securities BACKED by the sub-prime sales, thereby hedging its bet.  Now,tell me again, why the f*ck did we give em TARP money?

While I believe this "cover both ends" plan sounds fishy, and may or may be legal, what's even more fishy is the suits relationship to the latest "O"gasm.  Let me explain...

Mr. Obama needs another evil villain to pass his next Fascist plan to trash the financial community, and bring it under government control.  So meet Goldman Sachs, Mr. Obama's newest evil nemesis.

Too early to see how this comes out, but the timing is in no way coincidental.  This was theatrically coreographed by the "Pussification Of America" team to give Mr. Obama another evil vertical to dismantle for control by the (supposedly) benevolent government.


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