Ted Cruz's Creditor Pays Historic Regulatory Penalty

[CrusaderFrank]

How many guys from Goldman did Obama hire again to fill spots in his cabinet? OH SNAP!

Bush brought a lot of Goldman execs on board. In fact, almost every modern Administration has. OH, SNAP!

Bush's Treasury Secretary came to the job straight from the CEO position at Goldman. On his way out the door, Hank Paulson signaled he knew some seriously bad shit was going to come down.

Neel Kashkari also came from Goldman. He was the overseer of TARP.

The list of Goldman Sachs alumni in the Bush Administration is longer than the ones in the Obama Administration.

BOOOOOOOOOOOOOOOOOOOOOOOOOSH!! We are talking about Obama fool.

You are condemning Obama for what Bush did?

See?

It's a Progressive reflex!

Boooooooooooooooooooooooooooooooooooooooooooooooooooooooooooosh

 

[g5000]

How many guys from Goldman did Obama hire again to fill spots in his cabinet? OH SNAP!

Bush brought a lot of Goldman execs on board. In fact, almost every modern Administration has. OH, SNAP!

Bush's Treasury Secretary came to the job straight from the CEO position at Goldman. On his way out the door, Hank Paulson signaled he knew some seriously bad shit was going to come down.

Neel Kashkari also came from Goldman. He was the overseer of TARP.

The list of Goldman Sachs alumni in the Bush Administration is longer than the ones in the Obama Administration.

BOOOOOOOOOOOOOOOOOOOOOOOOOSH!! We are talking about Obama fool.

You are condemning Obama for what Bush did?

See?

It's a Progressive reflex!

Boooooooooooooooooooooooooooooooooooooooooooooooooooooooooooosh

This is a topic about Goldman Sachs and the crimes they committed which led to the crash.

Gee, who was President during that time?

Hint: It wasn't Obama.

I'm sorry to make your sorry ass hypocrites' butts hurt. This has nothing to do with Obama. Talk about REFLEX! Hooooooly shit! We got us some textbook projection here, kids.

You going to attempt to associate Obama with the extinction of the dinosaurs next?

Jesus, you people are beyond stupid.

 

[g5000]

Goldman Sachs committed massive fraud against investors. Look at the tards attempting to throw up smoke around that fact.

The sad part is the tards are the ones who suffered losses in their investments because of fraudsters like the ones at Goldman. Isn't it just beyond stupid to defend the motherfuckers who stole from you?

Yep. It is.

And they want to end Social Security and give MORE of their money to the crooks!

Go back to sleep, rubes. You deserve to be lied to and robbed from.

ZZZZZZZZZZZZZ

 

[The Rabbi]

So Ted is in bed with one of the banks that took the economy down in 2008. His wife whores for them too, so that's why she had to take a leave of absence because the news was going to come out that GS gave Teddy his big loan a few years ago.

Just sayin'....They are hypocrites and aren't going to do a damn thing for the middle class, except sneer and suggest we eat cake.


Goldman Reaches $5 Billion Settlement Over Mortgage-Backed Securities

Pact marks largest settlement in history of Wall Street firm

Goldman Sachs Group Inc. agreed to the largest regulatory penalty in its history, resolving U.S. and state claims stemming from the Wall Street firm’s sale of mortgage bonds heading into the financial crisis.
In settling with the Justice Department and a collection of other state and federal entities for more than $5 billion, Goldman will join a list of other big banks in moving past one of the biggest, and most costly, legal headaches of the crisis era.
Goldman said litigation legal expenses stemming from the accord would trim its fourth-quarter earnings by about $1.5 billion, after taxes. The firm is scheduled to report results Wednesday."""
Goldman Reaches $5 Billion Settlement Over Mortgage-Backed Securities

Where are the indictments?
Libs are desperate to stop the Cruz Missile.

 

[JakeStarkey]

frank loves him some bush and goldman sachs.

he knows sanders can badly defeat trump.

he simply does not care anymore.

he is like old man with a hearing trumpet in his ear he holds with hand while shaking his cane with other, as he mumbles.

 

[g5000]

So Ted is in bed with one of the banks that took the economy down in 2008. His wife whores for them too, so that's why she had to take a leave of absence because the news was going to come out that GS gave Teddy his big loan a few years ago.

Just sayin'....They are hypocrites and aren't going to do a damn thing for the middle class, except sneer and suggest we eat cake.


Goldman Reaches $5 Billion Settlement Over Mortgage-Backed Securities

Pact marks largest settlement in history of Wall Street firm

Goldman Sachs Group Inc. agreed to the largest regulatory penalty in its history, resolving U.S. and state claims stemming from the Wall Street firm’s sale of mortgage bonds heading into the financial crisis.
In settling with the Justice Department and a collection of other state and federal entities for more than $5 billion, Goldman will join a list of other big banks in moving past one of the biggest, and most costly, legal headaches of the crisis era.
Goldman said litigation legal expenses stemming from the accord would trim its fourth-quarter earnings by about $1.5 billion, after taxes. The firm is scheduled to report results Wednesday."""
Goldman Reaches $5 Billion Settlement Over Mortgage-Backed Securities

Where are the indictments?
Libs are desperate to stop the Cruz Missile.

Campaign cash buys a lot of protection.

The criminals have police protection as they steal from you.

Like a true retard, instead of being angry, you side with the people stealing from you and with the politicians protecting them.

Awesome.

 

[The Rabbi]

So Ted is in bed with one of the banks that took the economy down in 2008. His wife whores for them too, so that's why she had to take a leave of absence because the news was going to come out that GS gave Teddy his big loan a few years ago.

Just sayin'....They are hypocrites and aren't going to do a damn thing for the middle class, except sneer and suggest we eat cake.


Goldman Reaches $5 Billion Settlement Over Mortgage-Backed Securities

Pact marks largest settlement in history of Wall Street firm

Goldman Sachs Group Inc. agreed to the largest regulatory penalty in its history, resolving U.S. and state claims stemming from the Wall Street firm’s sale of mortgage bonds heading into the financial crisis.
In settling with the Justice Department and a collection of other state and federal entities for more than $5 billion, Goldman will join a list of other big banks in moving past one of the biggest, and most costly, legal headaches of the crisis era.
Goldman said litigation legal expenses stemming from the accord would trim its fourth-quarter earnings by about $1.5 billion, after taxes. The firm is scheduled to report results Wednesday."""
Goldman Reaches $5 Billion Settlement Over Mortgage-Backed Securities

Where are the indictments?
Libs are desperate to stop the Cruz Missile.

Campaign cash buys a lot of protection.

The criminals have police protection as they steal from you.

Like a true retard, instead of being angry, you side with the people stealing from you, and with the politicians protecting them.

Awesome.

Who is stealing? No one.
Meanwhile Hillary takes millions from Wall St and piss guzzling rubes like you say nothing.

 

[g5000]

So Ted is in bed with one of the banks that took the economy down in 2008. His wife whores for them too, so that's why she had to take a leave of absence because the news was going to come out that GS gave Teddy his big loan a few years ago.

Just sayin'....They are hypocrites and aren't going to do a damn thing for the middle class, except sneer and suggest we eat cake.


Goldman Reaches $5 Billion Settlement Over Mortgage-Backed Securities

Pact marks largest settlement in history of Wall Street firm

Goldman Sachs Group Inc. agreed to the largest regulatory penalty in its history, resolving U.S. and state claims stemming from the Wall Street firm’s sale of mortgage bonds heading into the financial crisis.
In settling with the Justice Department and a collection of other state and federal entities for more than $5 billion, Goldman will join a list of other big banks in moving past one of the biggest, and most costly, legal headaches of the crisis era.
Goldman said litigation legal expenses stemming from the accord would trim its fourth-quarter earnings by about $1.5 billion, after taxes. The firm is scheduled to report results Wednesday."""
Goldman Reaches $5 Billion Settlement Over Mortgage-Backed Securities

Where are the indictments?
Libs are desperate to stop the Cruz Missile.

Campaign cash buys a lot of protection.

The criminals have police protection as they steal from you.

Like a true retard, instead of being angry, you side with the people stealing from you, and with the politicians protecting them.

Awesome.

Who is stealing? No one.

Now this is some serious willful blindness. I provided a link showing one of the means by which Goldman stole.

You just skipped right over it, obviously. Musn't read anything which might shatter your carefully constructed delusion built for you by the thieves who are robbing you.

 

[g5000]

Who is stealing? No one.

Daniel Sparks and Tom Montag: Goldman Sachs. Constructed the fraudulent Timberwolf billion dollar toxic mortgage security and sold it to investors (you), then profited by betting against it. Deliberately stuffed the security with mortgages they knew were toxic so they could bet on its failure while also profiting from its sale it to investors.

Goldman Sued Again


Brian H. Stoker: Citigroup. Constructed the fraudulent Class V Funding III CDO-squared which ripped off investors (you) for over $700 million.

He stole $700 million and paid a fine of $285 million. Is this a disincentive to steal?!?!

http://www.nytimes.com/2011/10/20/business/citigroup-to-pay-285-million-to-settle-sec-charges.html


Fabrice Tourre: Goldman Sachs. John Paulson: Paulson & Co. Inc . Constructed the fraudulent Abacus 2007-ac1 CDO for which Goldman Sachs was fined but no one went to prison. Tourre allowed hedge fund manager John Paulson to select the toxic mortgages to be placed in the CDO so Goldman Sachs and Paulson could bet against it.

http://www.sec.gov/litigation/complaints/2010/comp-pr2010-59.pdf


Angelo Mozilo: Countrywide CEO. Committed the exact same kind of crime as the Enron CEO and financial officers did, and yet he walks free. Mozillo kept telling investors that Countrywide was "consistently producing quality mortgages" while his internal memos show that he was well aware his company was creating the most toxic mortgages on the planet. The SEC originally demanded a jury trial for Mozillo, but he ultimately walked away with a fine and no admission of wrongdoing.

http://www.sec.gov/litigation/complaints/2009/comp21068.pdf


Richard Harriton: Bear Stearns. Along with 13 executives and brokers, defrauded investors of $75 million through stock manipulation.

Bear Stearns paid the SEC a fine of $38.5 million, half of the amount they stole from their investors!

Bear Stearns in $38M settlement - Aug. 5, 1999





Roland Arnall: Ameriquest. Inventor of the "stated asset" (NINJA) loan.

Paid a $325 million settlement with 49 state AGs in early 2006 for misrepresenting and failing to disclose loan terms, charging excessive loan origination fees and inflating appraisals to qualify borrowers for loans.

March 2006, installed as US ambassador to the Netherlands!

How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America -- and Spawned a Global Crisis | John Mauldin | Safehaven.com

Roland Arnall - Wikipedia, the free encyclopedia



Check out that last one. Remember Nannygate? Someone hired a nanny ten years previously who was an illegal immigrant and couldn't get their presidential appointment confirmed by Congress.

But this sleazebag from Ameriquest gets nominated and confirmed as a US Ambassador right after being caught as one of the biggest criminals on Wall Street!

If that does not tell you that our federal government is aiding and abetting these fuckers, nothing will.

You can't make this shit up.

This guy had his brokers forge borrowers' signatures on subprime loans.

Don't believe me? Read this: How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America -- and Spawned a Global Crisis | John Mauldin | Safehaven.com

Read every word of that.


This is why I find anyone who thinks these people were forced to make toxic loans to be absolutely clueless.

 

[g5000]

And because no one threw the crooks in jail, they continued their crimes.

The fraudulent manipulations of LIBOR and ISDAfix. Scams which literally rob from every borrower and investor on Earth.

 

[g5000]

Brian H. Stoker was tried in court, by the way. The only one who was in that list above.

You know why he wasn't convicted? The jury felt he was a small fish doing what the higher ups wanted him to do. They felt the CEO and others should have been the ones on trial and going to prison!

 

[g5000]

http://dealbook.nytimes.com/2012/08/03/s-e-c-gets-encouragement-from-jury-that-ruled-against-it/?_r=0]
S.E.C. Gets Encouragement From Jury That Ruled Against It

As Beau Brendler sat in the jury box listening to the government’s case against a former Citigroup midlevel executive, the same question kept entering his mind.

“I wanted to know why the bank’s C.E.O. wasn’t on trial,” said Mr. Brendler, who served as the jury’s foreman. “Citigroup’s behavior was appalling.”

So the jurors did something extremely rare: They issued a statement alongside their verdict.

“This verdict should not deter the S.E.C. from continuing to investigate the financial industry, review current regulations and modify existing regulations as necessary,” said the statement, which was read aloud by Judge Jed S. Rakoff in Federal District Court in Manhattan on Tuesday.

It is widely acknowledged that C.D.O.’s were a root cause of the financial crisis, stoking the demand for subprime mortgages and inflating the housing bubble.

Travis Dawson, 23, a student at Baruch College, also served on the Stoker jury. Before the trial, Mr. Dawson, a lifelong Bronx resident, had been largely uninformed about the ways of Wall Street.

“Where I’m from, you hear Wall Street is an evil place but you really have nothing to base that on,” Mr. Dawson said. “But after sitting on the jury I thought, ‘Wow, greedy, reckless behavior really does happen there.’ ”

In explaining the verdict, both Mr. Dawson and Mr. Brendler said that they believed that Mr. Stoker was made a scapegoat for the industry’s sins.

 

[boilermaker55]

Big difference. Lying ass calgary ted never dis

Will Hillary be returning the 700K she took from Goldman Sachs in contributions?

 

[Toddsterpatriot]

I well remember ABACUS 2007-AC1. I've mentioned it several times on this forum over the years.

Factbox: How Goldman's ABACUS deal worked

They built synthetic CDOs. And?

 

[The Rabbi]

Who is stealing? No one.

Daniel Sparks and Tom Montag: Goldman Sachs. Constructed the fraudulent Timberwolf billion dollar toxic mortgage security and sold it to investors (you), then profited by betting against it. Deliberately stuffed the security with mortgages they knew were toxic so they could bet on its failure while also profiting from its sale it to investors.

Goldman Sued Again


Brian H. Stoker: Citigroup. Constructed the fraudulent Class V Funding III CDO-squared which ripped off investors (you) for over $700 million.

He stole $700 million and paid a fine of $285 million. Is this a disincentive to steal?!?!

http://www.nytimes.com/2011/10/20/business/citigroup-to-pay-285-million-to-settle-sec-charges.html


Fabrice Tourre: Goldman Sachs. John Paulson: Paulson & Co. Inc . Constructed the fraudulent Abacus 2007-ac1 CDO for which Goldman Sachs was fined but no one went to prison. Tourre allowed hedge fund manager John Paulson to select the toxic mortgages to be placed in the CDO so Goldman Sachs and Paulson could bet against it.

http://www.sec.gov/litigation/complaints/2010/comp-pr2010-59.pdf


Angelo Mozilo: Countrywide CEO. Committed the exact same kind of crime as the Enron CEO and financial officers did, and yet he walks free. Mozillo kept telling investors that Countrywide was "consistently producing quality mortgages" while his internal memos show that he was well aware his company was creating the most toxic mortgages on the planet. The SEC originally demanded a jury trial for Mozillo, but he ultimately walked away with a fine and no admission of wrongdoing.

http://www.sec.gov/litigation/complaints/2009/comp21068.pdf


Richard Harriton: Bear Stearns. Along with 13 executives and brokers, defrauded investors of $75 million through stock manipulation.

Bear Stearns paid the SEC a fine of $38.5 million, half of the amount they stole from their investors!

Bear Stearns in $38M settlement - Aug. 5, 1999





Roland Arnall: Ameriquest. Inventor of the "stated asset" (NINJA) loan.

Paid a $325 million settlement with 49 state AGs in early 2006 for misrepresenting and failing to disclose loan terms, charging excessive loan origination fees and inflating appraisals to qualify borrowers for loans.

March 2006, installed as US ambassador to the Netherlands!

How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America -- and Spawned a Global Crisis | John Mauldin | Safehaven.com

Roland Arnall - Wikipedia, the free encyclopedia



Check out that last one. Remember Nannygate? Someone hired a nanny ten years previously who was an illegal immigrant and couldn't get their presidential appointment confirmed by Congress.

But this sleazebag from Ameriquest gets nominated and confirmed as a US Ambassador right after being caught as one of the biggest criminals on Wall Street!

If that does not tell you that our federal government is aiding and abetting these fuckers, nothing will.

You can't make this shit up.

This guy had his brokers forge borrowers' signatures on subprime loans.

Don't believe me? Read this: How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America -- and Spawned a Global Crisis | John Mauldin | Safehaven.com

Read every word of that.


This is why I find anyone who thinks these people were forced to make toxic loans to be absolutely clueless.

Where are the indictments? Who went to prison?

 

[boilermaker55]

Last year, Goldman set aside $12.22 billion to pay compensation and benefits for its 33,300 employees. That total, which comes out to around $367,000 per person.
And the problem is......with what they did with the mortgage problem, no one went to jail.
Money talks but don't let a worker get a liveable wage.

 

[Toddsterpatriot]

Who is stealing? No one.

Daniel Sparks and Tom Montag: Goldman Sachs. Constructed the fraudulent Timberwolf billion dollar toxic mortgage security and sold it to investors (you), then profited by betting against it. Deliberately stuffed the security with mortgages they knew were toxic so they could bet on its failure while also profiting from its sale it to investors.

Goldman Sued Again


Brian H. Stoker: Citigroup. Constructed the fraudulent Class V Funding III CDO-squared which ripped off investors (you) for over $700 million.

He stole $700 million and paid a fine of $285 million. Is this a disincentive to steal?!?!

http://www.nytimes.com/2011/10/20/business/citigroup-to-pay-285-million-to-settle-sec-charges.html


Fabrice Tourre: Goldman Sachs. John Paulson: Paulson & Co. Inc . Constructed the fraudulent Abacus 2007-ac1 CDO for which Goldman Sachs was fined but no one went to prison. Tourre allowed hedge fund manager John Paulson to select the toxic mortgages to be placed in the CDO so Goldman Sachs and Paulson could bet against it.

http://www.sec.gov/litigation/complaints/2010/comp-pr2010-59.pdf


Angelo Mozilo: Countrywide CEO. Committed the exact same kind of crime as the Enron CEO and financial officers did, and yet he walks free. Mozillo kept telling investors that Countrywide was "consistently producing quality mortgages" while his internal memos show that he was well aware his company was creating the most toxic mortgages on the planet. The SEC originally demanded a jury trial for Mozillo, but he ultimately walked away with a fine and no admission of wrongdoing.

http://www.sec.gov/litigation/complaints/2009/comp21068.pdf


Richard Harriton: Bear Stearns. Along with 13 executives and brokers, defrauded investors of $75 million through stock manipulation.

Bear Stearns paid the SEC a fine of $38.5 million, half of the amount they stole from their investors!

Bear Stearns in $38M settlement - Aug. 5, 1999





Roland Arnall: Ameriquest. Inventor of the "stated asset" (NINJA) loan.

Paid a $325 million settlement with 49 state AGs in early 2006 for misrepresenting and failing to disclose loan terms, charging excessive loan origination fees and inflating appraisals to qualify borrowers for loans.

March 2006, installed as US ambassador to the Netherlands!

How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America -- and Spawned a Global Crisis | John Mauldin | Safehaven.com

Roland Arnall - Wikipedia, the free encyclopedia



Check out that last one. Remember Nannygate? Someone hired a nanny ten years previously who was an illegal immigrant and couldn't get their presidential appointment confirmed by Congress.

But this sleazebag from Ameriquest gets nominated and confirmed as a US Ambassador right after being caught as one of the biggest criminals on Wall Street!

If that does not tell you that our federal government is aiding and abetting these fuckers, nothing will.

You can't make this shit up.

This guy had his brokers forge borrowers' signatures on subprime loans.

Don't believe me? Read this: How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America -- and Spawned a Global Crisis | John Mauldin | Safehaven.com

Read every word of that.


This is why I find anyone who thinks these people were forced to make toxic loans to be absolutely clueless.

Daniel Sparks and Tom Montag: Goldman Sachs. Constructed the fraudulent Timberwolf billion dollar toxic mortgage security and sold it to investors (you), then profited by betting against it

I wonder, how does a synthetic security behave? Durr.

 

[g5000]

Who is stealing? No one.

Daniel Sparks and Tom Montag: Goldman Sachs. Constructed the fraudulent Timberwolf billion dollar toxic mortgage security and sold it to investors (you), then profited by betting against it. Deliberately stuffed the security with mortgages they knew were toxic so they could bet on its failure while also profiting from its sale it to investors.

Goldman Sued Again


Brian H. Stoker: Citigroup. Constructed the fraudulent Class V Funding III CDO-squared which ripped off investors (you) for over $700 million.

He stole $700 million and paid a fine of $285 million. Is this a disincentive to steal?!?!

http://www.nytimes.com/2011/10/20/business/citigroup-to-pay-285-million-to-settle-sec-charges.html


Fabrice Tourre: Goldman Sachs. John Paulson: Paulson & Co. Inc . Constructed the fraudulent Abacus 2007-ac1 CDO for which Goldman Sachs was fined but no one went to prison. Tourre allowed hedge fund manager John Paulson to select the toxic mortgages to be placed in the CDO so Goldman Sachs and Paulson could bet against it.

http://www.sec.gov/litigation/complaints/2010/comp-pr2010-59.pdf


Angelo Mozilo: Countrywide CEO. Committed the exact same kind of crime as the Enron CEO and financial officers did, and yet he walks free. Mozillo kept telling investors that Countrywide was "consistently producing quality mortgages" while his internal memos show that he was well aware his company was creating the most toxic mortgages on the planet. The SEC originally demanded a jury trial for Mozillo, but he ultimately walked away with a fine and no admission of wrongdoing.

http://www.sec.gov/litigation/complaints/2009/comp21068.pdf


Richard Harriton: Bear Stearns. Along with 13 executives and brokers, defrauded investors of $75 million through stock manipulation.

Bear Stearns paid the SEC a fine of $38.5 million, half of the amount they stole from their investors!

Bear Stearns in $38M settlement - Aug. 5, 1999





Roland Arnall: Ameriquest. Inventor of the "stated asset" (NINJA) loan.

Paid a $325 million settlement with 49 state AGs in early 2006 for misrepresenting and failing to disclose loan terms, charging excessive loan origination fees and inflating appraisals to qualify borrowers for loans.

March 2006, installed as US ambassador to the Netherlands!

How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America -- and Spawned a Global Crisis | John Mauldin | Safehaven.com

Roland Arnall - Wikipedia, the free encyclopedia



Check out that last one. Remember Nannygate? Someone hired a nanny ten years previously who was an illegal immigrant and couldn't get their presidential appointment confirmed by Congress.

But this sleazebag from Ameriquest gets nominated and confirmed as a US Ambassador right after being caught as one of the biggest criminals on Wall Street!

If that does not tell you that our federal government is aiding and abetting these fuckers, nothing will.

You can't make this shit up.

This guy had his brokers forge borrowers' signatures on subprime loans.

Don't believe me? Read this: How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America -- and Spawned a Global Crisis | John Mauldin | Safehaven.com

Read every word of that.


This is why I find anyone who thinks these people were forced to make toxic loans to be absolutely clueless.

Daniel Sparks and Tom Montag: Goldman Sachs. Constructed the fraudulent Timberwolf billion dollar toxic mortgage security and sold it to investors (you), then profited by betting against it

I wonder, how does a synthetic security behave? Durr.

A synthetic CDO is one which takes the revenue streams from CDS premiums and packages them into an investment vehicle for investors.

What the investors did not realize is that they were insuring toxic CDOs. And that meant they stood to lose not just their investment, but exponentially more than their investment. They were on the hook for billions of dollars of obligations.

Even worse, the individuals on the other side of the bet were the ones who picked the toxic instruments which were packaged into the synthetic CDO, thus ensuring the CDOs would blow up, thus triggering the CDS payouts which would have to come from the synthetic CDO investors. The scammers did not inform the investors they were the ones who chose the products which the synthetic CDO was build on, and that is illegal. For reasons which are blazingly obvious.

Big hedge fund manager Jon Paulson was the guy on the other side of the ABACUS bet, and Goldman Sachs colluded with him.

Paulson should be in prison.

 

[g5000]

Who is stealing? No one.

Daniel Sparks and Tom Montag: Goldman Sachs. Constructed the fraudulent Timberwolf billion dollar toxic mortgage security and sold it to investors (you), then profited by betting against it. Deliberately stuffed the security with mortgages they knew were toxic so they could bet on its failure while also profiting from its sale it to investors.

Goldman Sued Again


Brian H. Stoker: Citigroup. Constructed the fraudulent Class V Funding III CDO-squared which ripped off investors (you) for over $700 million.

He stole $700 million and paid a fine of $285 million. Is this a disincentive to steal?!?!

http://www.nytimes.com/2011/10/20/business/citigroup-to-pay-285-million-to-settle-sec-charges.html


Fabrice Tourre: Goldman Sachs. John Paulson: Paulson & Co. Inc . Constructed the fraudulent Abacus 2007-ac1 CDO for which Goldman Sachs was fined but no one went to prison. Tourre allowed hedge fund manager John Paulson to select the toxic mortgages to be placed in the CDO so Goldman Sachs and Paulson could bet against it.

http://www.sec.gov/litigation/complaints/2010/comp-pr2010-59.pdf


Angelo Mozilo: Countrywide CEO. Committed the exact same kind of crime as the Enron CEO and financial officers did, and yet he walks free. Mozillo kept telling investors that Countrywide was "consistently producing quality mortgages" while his internal memos show that he was well aware his company was creating the most toxic mortgages on the planet. The SEC originally demanded a jury trial for Mozillo, but he ultimately walked away with a fine and no admission of wrongdoing.

http://www.sec.gov/litigation/complaints/2009/comp21068.pdf


Richard Harriton: Bear Stearns. Along with 13 executives and brokers, defrauded investors of $75 million through stock manipulation.

Bear Stearns paid the SEC a fine of $38.5 million, half of the amount they stole from their investors!

Bear Stearns in $38M settlement - Aug. 5, 1999





Roland Arnall: Ameriquest. Inventor of the "stated asset" (NINJA) loan.

Paid a $325 million settlement with 49 state AGs in early 2006 for misrepresenting and failing to disclose loan terms, charging excessive loan origination fees and inflating appraisals to qualify borrowers for loans.

March 2006, installed as US ambassador to the Netherlands!

How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America -- and Spawned a Global Crisis | John Mauldin | Safehaven.com

Roland Arnall - Wikipedia, the free encyclopedia



Check out that last one. Remember Nannygate? Someone hired a nanny ten years previously who was an illegal immigrant and couldn't get their presidential appointment confirmed by Congress.

But this sleazebag from Ameriquest gets nominated and confirmed as a US Ambassador right after being caught as one of the biggest criminals on Wall Street!

If that does not tell you that our federal government is aiding and abetting these fuckers, nothing will.

You can't make this shit up.

This guy had his brokers forge borrowers' signatures on subprime loans.

Don't believe me? Read this: How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America -- and Spawned a Global Crisis | John Mauldin | Safehaven.com

Read every word of that.


This is why I find anyone who thinks these people were forced to make toxic loans to be absolutely clueless.

Where are the indictments? Who went to prison?

The crooks end up in civil court instead of criminal court. They pay fines instead of going to prison.

They should be in prison. If you have any money in investments of any kind, or if you have ever borrowed any money, you should be screaming for their heads.

Instead, you are a total rube, taking it up the ass and wondering why people mock you for enjoying it.

 

[Toddsterpatriot]

Who is stealing? No one.

Daniel Sparks and Tom Montag: Goldman Sachs. Constructed the fraudulent Timberwolf billion dollar toxic mortgage security and sold it to investors (you), then profited by betting against it. Deliberately stuffed the security with mortgages they knew were toxic so they could bet on its failure while also profiting from its sale it to investors.

Goldman Sued Again


Brian H. Stoker: Citigroup. Constructed the fraudulent Class V Funding III CDO-squared which ripped off investors (you) for over $700 million.

He stole $700 million and paid a fine of $285 million. Is this a disincentive to steal?!?!

http://www.nytimes.com/2011/10/20/business/citigroup-to-pay-285-million-to-settle-sec-charges.html


Fabrice Tourre: Goldman Sachs. John Paulson: Paulson & Co. Inc . Constructed the fraudulent Abacus 2007-ac1 CDO for which Goldman Sachs was fined but no one went to prison. Tourre allowed hedge fund manager John Paulson to select the toxic mortgages to be placed in the CDO so Goldman Sachs and Paulson could bet against it.

http://www.sec.gov/litigation/complaints/2010/comp-pr2010-59.pdf


Angelo Mozilo: Countrywide CEO. Committed the exact same kind of crime as the Enron CEO and financial officers did, and yet he walks free. Mozillo kept telling investors that Countrywide was "consistently producing quality mortgages" while his internal memos show that he was well aware his company was creating the most toxic mortgages on the planet. The SEC originally demanded a jury trial for Mozillo, but he ultimately walked away with a fine and no admission of wrongdoing.

http://www.sec.gov/litigation/complaints/2009/comp21068.pdf


Richard Harriton: Bear Stearns. Along with 13 executives and brokers, defrauded investors of $75 million through stock manipulation.

Bear Stearns paid the SEC a fine of $38.5 million, half of the amount they stole from their investors!

Bear Stearns in $38M settlement - Aug. 5, 1999





Roland Arnall: Ameriquest. Inventor of the "stated asset" (NINJA) loan.

Paid a $325 million settlement with 49 state AGs in early 2006 for misrepresenting and failing to disclose loan terms, charging excessive loan origination fees and inflating appraisals to qualify borrowers for loans.

March 2006, installed as US ambassador to the Netherlands!

How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America -- and Spawned a Global Crisis | John Mauldin | Safehaven.com

Roland Arnall - Wikipedia, the free encyclopedia



Check out that last one. Remember Nannygate? Someone hired a nanny ten years previously who was an illegal immigrant and couldn't get their presidential appointment confirmed by Congress.

But this sleazebag from Ameriquest gets nominated and confirmed as a US Ambassador right after being caught as one of the biggest criminals on Wall Street!

If that does not tell you that our federal government is aiding and abetting these fuckers, nothing will.

You can't make this shit up.

This guy had his brokers forge borrowers' signatures on subprime loans.

Don't believe me? Read this: How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America -- and Spawned a Global Crisis | John Mauldin | Safehaven.com

Read every word of that.


This is why I find anyone who thinks these people were forced to make toxic loans to be absolutely clueless.

Daniel Sparks and Tom Montag: Goldman Sachs. Constructed the fraudulent Timberwolf billion dollar toxic mortgage security and sold it to investors (you), then profited by betting against it

I wonder, how does a synthetic security behave? Durr.

A synthetic CDO is one which takes the revenue streams from CDS and packages them into an investment vehicle for investors.

What the investors did not realize is that they were insuring toxic CDOs. And that meant they stood to lose not just their investment, but exponentially more than their investment.

Even worse, the individuals on the other side of the bet were the ones who picked the toxic instruments which were packaged into the synthetic CDO, thus ensuring the CDOs would blow up. They did not inform the investors they were the ones who chose the products which the synthetic CDO was build on, and that is illegal.

What the investors did not realize is that they were insuring toxic CDOs.

Are you telling me that these very sophisticated investors, investing billions of dollars, made a bet on mortgages and then the mortgages defaulted? Were they unable to research the mortgages these synthetics were mirroring?

Darn it, I can't find my teeny-tiny violin.

Even worse, the individuals on the other side of the bet were the ones who picked the toxic instruments which were packaged into the synthetic CDO,

One sophisticated investor won, another lost. And?

They did not inform the investors they were the ones who chose the products which the synthetic CDO was build on

Usually, an investor doesn't know the guy on the opposite side of the trade. Not sure if that was the case here.

and that is illegal.

Against the "tell me who picked the mortgages" law? Do you have a link to that law?