The Inflationist - Making Money in Stocks, Bonds, Forex, Commodities, Agriculture

Sign In


Subscribe to The Inflationist

Posts Tagged ‘ Goldman Sachs ’

Apr 16

Goldman Sachs Sued by SEC

Filed under Stocks

From Yahoo Finance:

WASHINGTON (AP) — The government has accused Goldman Sachs & Co. of defrauding investors by failing to disclose conflicts of interest in mortgage investments it sold as the housing market was faltering.

The Securities and Exchange Commission announced Friday civil fraud charges against the Wall Street powerhouse and one of its vice presidents. The agency alleges Goldman failed to disclose that one of its clients helped create — and then bet against — subprime mortgage securities that Goldman sold to investors.

Investors in the mortgage securities are alleged to have lost more than $1 billion, the SEC noted. The agency is seeking to recoup profits reaped on the deal.

The Goldman client implicated in the fraud is one of the world’s largest hedge funds, Paulson & Co., which paid Goldman roughly $15 million for structuring the deals in 2007.

Goldman Sachs shares fell more than 12 percent after the SEC announcement, which also caused shares of other financial companies to sink. The Dow Jones industrial average fell more than 120 points in midday trading.

The civil lawsuit filed by the SEC in federal court in Manhattan was the government’s most significant legal action related to the mortgage meltdown that ignited the financial crisis and helped plunge the country into recession. The SEC’s enforcement chief said the agency is investigating a wide range of practices related to the crisis.

A Goldman Sachs spokesman didn’t immediately return a call seeking comment.

The agency also charged a Goldman vice president, Fabrice Tourre, 31, who it said was principally responsible for devising the deal and marketing the securities.


Goldman Vice President is only 31 years of age? Insane…

Civil charges only? Why not criminal charges????

Dow is currently 11020 (surprisingly strong). Hold your shorts. We were just chatting with our trading colleague - this pull back will usually go on for a few days, and an attempt to double top will occur later on as a “flushing mechanism”. It flushes bears by tricking them into believing that markets are heading higher, whilst sucking in more bulls who buy on dips. Its a win win. From silver whistle blower Andrew Macguire, we know that these manipulators pay attention to technicals (ie playing the market based on technicals to screw the most  number of technical traders).

We shorted more Amazon in our personal portfolio - PE of >70 is ridiculous (forward PE >30).

All entries filed under this archive

Bankers Bail Out on Obama
no responses - Posted 12.15.09
The CEOs of the three investment banks (Goldman Sachs Lloyd Blankfein one of them of course) "decided to give the most powerful leader in the world a big ol' F.U. by blowing off their scheduled meeting" (best quote we found from Tim Knight in the Slope of Hope). The New York ...continue
Goldman Sachs vs The People
no responses - Posted 12.13.09
By now most of you would have read on Bloomberg that Goldman Sachs employees are stocking up on guns and firearms to protect themselves. Here is the video: "The Evil Speculator : You can fool some of the people sometime but you cannot fool all the people all the time" Goldman Sachs ...continue
Technical Analyses
no responses - Posted 11.08.09
Apologies for the downtime. We changed servers again - the site should load up faster now. All posts have been retrieved and backed up except for our most recent post. We will move our orders to short higher after reviewing the pool of analyses over the weekend. We particularly pay more ...continue
Goldman Sachs in Talks To Acquire US Department of Treasury
no responses - Posted 10.27.09
An article in the Huffington Post: In what some on Wall Street are calling the biggest blockbuster deal in the history of the financial sector, Goldman Sachs confirmed today that it was in talks to acquire the U.S. Department of the Treasury. According to Goldman spokesperson Jonathan Hestron, the merger between Goldman ...continue
Should I Invest in General Electric (GE) | Complete Overview of General Electric
2 responses - Posted 04.21.09
"GE is the symbol of American Business to the world" - Warren Buffett. For years Warren Buffett sat on his pile of cash and waited. And waited. In the midst of this economic Pearl Harbor whilst everyone was running for the door, Mr Buffett invested $3 billion dollars in GE and ...continue

All content and source © 2008 The Inflationist - Making Money in Stocks, Bonds, Forex, Commodities, Agriculture |