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SEC Charges Goldman Sachs with FRAUD

 
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MIJvintage
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Joined: 22 Dec 2006
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Location: Saint Paul, Minnesota USA

PostPosted: Fri Apr 16, 2010 9:28 am    Post subject: SEC Charges Goldman Sachs with FRAUD Reply with quote

SEC accuses Goldman Sachs of fraud in failing to disclose conflict in mortgage securities

http://finance.yahoo.com/news/SEC-accuses-Goldman-Sachs-of-apf-1523020722.html?x=0&sec=topStories&pos=main&asset=&ccode=

Friday April 16, 2010, 10:55 am
WASHINGTON (AP) -- The government is accusing Wall Street powerhouse Goldman Sachs & Co. of defrauding investors in its disclosures about securities it sold tied to sub prime mortgage securities as the housing market was faltering.
The Securities and Exchange Commission announced Friday civil fraud charges against Goldman Sachs and one of its vice presidents. The agency alleges that the company marketed complex subprime mortgage securities and failed to disclose to investors that a major hedge fund had bet against the securities. At one point in trading today GS shares were down over 14%

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

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IMO, the SEC has been behind the curve, as American investors have been screwed to the tune of TRILLIONS via the scams of the big Wall Street firms, such as Goldman Sachs, and many others.

WHAT TOOK the SEC SO LONG??????????????

Hopefully this will be the first in a very long line of civil prosecutions, and hopefully this will all lead to a beggining of criminal prosecutions against the financial & fiscal terrorists on Wall Street ................

This could be a great beginning for flushing the toilet on the BS of Wall Street a great day for law abiding Americans but probably not ...........
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Last edited by MIJvintage on Fri Apr 16, 2010 10:27 am; edited 1 time in total
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marcusnieman
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Joined: 22 May 2003
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PostPosted: Fri Apr 16, 2010 9:41 am    Post subject: Reply with quote

Goldman Sachs also accepted $12B bailout too. Scumbags
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MIJvintage
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PostPosted: Fri Apr 16, 2010 9:52 am    Post subject: Reply with quote

Marcus; great point, and just one of many reasons why I have said for some time that the 'government', the banksters, and Wall Street are terrorists.

People see that & they think I'm F - ing crazy but look at the damage the collusion of the above entities has caused, not only in America but around the globe.

I have yet to see a terrorist, or a terrorist group cause the type of damage the above entities are responsible for causing.

Sooner or later, people will start waking up, the dumbing down of America will then turn around, and it will become the enlightenment of the ages ..............
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Dave_Mc
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PostPosted: Fri Apr 16, 2010 10:25 am    Post subject: Reply with quote

hehe, nice
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marcusnieman
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Joined: 22 May 2003
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PostPosted: Fri Apr 16, 2010 11:52 am    Post subject: Reply with quote

MIJvintage wrote:
Marcus; great point, and just one of many reasons why I have said for some time that the 'government', the banksters, and Wall Street are terrorists.

People see that & they think I'm F - ing crazy but look at the damage the collusion of the above entities has caused, not only in America but around the globe.

I have yet to see a terrorist, or a terrorist group cause the type of damage the above entities are responsible for causing.

Sooner or later, people will start waking up, the dumbing down of America will then turn around, and it will become the enlightenment of the ages ..............


The Government sold out long ago to big business, corporations, unions, the banking industry and other lobbyists who fill the Government coffers.

While Obama has been given the title President but at the end of the day, he's only a manager of those entities that really run the country and our economy (and right now, that's right into the ground)
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marcusnieman
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Joined: 22 May 2003
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Location: Dallas, Texas

PostPosted: Fri Apr 16, 2010 11:52 am    Post subject: Reply with quote

MIJvintage wrote:
Marcus; great point, and just one of many reasons why I have said for some time that the 'government', the banksters, and Wall Street are terrorists.

People see that & they think I'm F - ing crazy but look at the damage the collusion of the above entities has caused, not only in America but around the globe.

I have yet to see a terrorist, or a terrorist group cause the type of damage the above entities are responsible for causing.

Sooner or later, people will start waking up, the dumbing down of America will then turn around, and it will become the enlightenment of the ages ..............


The Government sold out long ago to big business, corporations, unions, the banking industry and other lobbyists who fill the Government coffers in trade for what they want.

While Obama has been given the title President but at the end of the day, he's only a manager of those entities that really run the country and our economy (and right now, that's right into the ground)
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MyungKubala
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Joined: 02 Jan 2015
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PostPosted: Fri Jan 02, 2015 8:20 pm    Post subject: Glass-Steagall Act Reply with quote

When recession hits the country, large corporation and businesses crumpled resulting to a closure. The United States Financial System failed which push lawmakers and the congress to amend and abolish some laws. One of it is the Glass-Steagall Act that need to break the walls between the investment and commercial banking system.
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