Pat Oliphant by Pat Oliphant

Pat OliphantNo Zoom

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    BIGCHRONO said, over 6 years ago

    No teeth, no balls, no value whatsoever.

  2. W(ar).Crime

    W(ar).Crime said, over 6 years ago

    The SEC was designed without teeth from the get go. Its underfunded, lacks criminal powers, and was set up to go after people like Martha Stuart and Bernie Madoff. It wasn’t set up to go after hedge funds that deal with trillions of dollars.


    BOB HASTY GoComics PRO Member said, over 6 years ago

    G.S.=Too be to fail; sends its alumni to Treasury, SEC, and competitors to ensure success, obviously not paying the GOP enough, or this would not have happened. They bundle bad mortgages into CDOs, sell them to clients [who are probably alumni], then short the sale. Results: profit-out–profit-in. And this is all legal, but morally repugnant!

  4. algurka

    algurka said, over 6 years ago

    Those little dogs always make the most noise. Noisy little shitzus.

  5. dtroutma

    dtroutma GoComics PRO Member said, over 6 years ago

    My dachsie doesn’t bark, he’s small enough to get the job done, and when he bites, the BIG DOGS flee in terror (guarding their “privates”) THAT is the way a good SEC or regulatory agency works. Big enough to do the job and instill terror in those who THINK they’re too big to buck.

  6. legacyshooter

    legacyshooter GoComics PRO Member said, over 6 years ago

    Starting with the Reagan days all the way through shrub a concerted effort was worked out to either eliminate government threats to the likes of GS and their theiving ways or, if not eliminate them, simply dilute their efforts with either lack of proper funding to fulfil their legal duties or padding their payrolls with their syncophants.

    The effort was encouraged by the voters who heard their pleas to “free the markets” and allow “capitalism to rule over all.” Unfortunately the pleas were hollow and the voters who, over the last thirty or so years were just what they appeared to be over the last thirty years.

    Gullible fools.

  7. cfimeiatpap

    cfimeiatpap said, over 6 years ago

    This is for you PWF;

    Goldman vs. SEC… Big problems ahead for the major mortgage banks… Kudos… Signs of a top in stocks… The ethics of not paying your mortgage…

    We wrote it. Did you short it? Goldman eventually admitted it had insured roughly $20 billion worth of subprime CDOs with AIG and had major exposure to the firm. But the New York Federal Reserve and Goldman Sachs never revealed this critical fact: Goldman didn’t merely buy insurance on a bunch of random subprime CDOs. It actually bought insurance on special CDOs it had put together and sold to its own clients. In other words, Goldman knew more about these CDOs than anyone else. Goldman bought insurance on these CDOs because it knew they’d collapse. This is tantamount to building a house, planting a bomb in it, selling it to an unsuspecting buyer, and buying $20 billion worth of life insurance on the homeowner – who you know is going to die!

    These facts all came to light because of research done by the office of Darrell Issa, the ranking Republican on the House Committee on Oversight and Government Reform. These new documents will certainly lead to a full investigation of the Goldman-AIG dealings and the subsequent $180 billion bailout led by the New York Federal Reserve. My bet? Heads will roll. If you own Goldman Sachs, you’d better sell. – Porter Stansberry, February 24, 2010, S&A Digest Last week, the SEC targeted Goldman Sachs in a civil fraud case. The lawsuit alleges Goldman sold investors a collateralized debt obligation (CDO) linked to the performance of certain mortgages without disclosing John Paulson’s hedge fund, Paulson & Co, helped design the product and was betting against those mortgages.

    Paolo Pellegrini, Paulson’s lead mortgage analyst, worked with Goldman to pick a group of mortgages most likely to be downgraded. Paulson & Co then paid Goldman $15 million for the service. ACA Financial, a bond insurance company, made a few changes to the structure of the product. Then Goldman sold these to its clients, who readily bought because of their triple-A rating. John Paulson made $1 billion from his bets against this particular mortgage product, named Abacus. The buyers, which included ACA Financial and the German bank IKB, lost $1 billion.

    The idea behind the SEC’s lawsuit is these mortgage securities were fraudulently constructed: They were made to fail. If the SEC is able to prove its case in court, the ramifications for the other banks that put together CDOs will be tremendous. For example, a judge last week rejected Merrill Lynch’s motion to dismiss an MBIA lawsuit over billions in mortgage backed CDOs that MBIA had insured. The judge ruled the insurance contracts were based on the securities’ triple-A rating. Since the triple-A rating might have been fraudulently obtained, the lawsuit should continue. If these suits aren’t settled, the big banks could end up losing hundreds of billions to the insurance companies and other mortgage investors.

    Porter Stansberry, S&A Digest

  8. pbarnrob

    pbarnrob said, over 6 years ago

    So: Leave the gambling legal, but keep it separate from the actual banking the rest of us depend on? Sounds like a baaad idea to me!

  9. Pup of Cognition

    Pup of Cognition said, over 6 years ago

    cf’s_dimetapp…My point was to Pat Oliphant - Fill a thimble with water and pour it out…The water left in the thimble represents the extent of my knowledge about “finances and economics”.

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