Liberty Mutual Sues Goldman Sachs Over Fannie Mae Stock

By | July 12, 2010

  • July 12, 2010 at 7:15 am
    Maxine says:
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    YOu are absolutely correct and Nostradamus made the comment, how dare you tell the truth (tho’ he agreed)and I for me applaud your telling it like it is – our Country is being sold a bill of BAD goods and we should be up in arms over it – I’m sure our “forfathers” are rolling in their graves several times over!

  • July 12, 2010 at 12:25 pm
    capitalist says:
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    What ever happend to doing your due dilligence? Liberty Mutual Ins. Co. is not your grandma who was taken advantage of by the corner con-man. Give me a break!

  • July 12, 2010 at 12:35 pm
    Rabbits for Sale says:
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    Firstly sir your spelling is atrocious.

    Secondly, I have a hard time believing that GS offered zero professional advice on the purchase of the investments.

    GS is not just another eTrader firm. LM didn’t just pick up the phone and say “buy me xx,xxx shares of Industrial Crapola”. GS undoubtedly had more information available to them than LM would have, and it’s folly to believe that GS had a Chinese wall separating their research from their sales department.

  • July 12, 2010 at 12:58 pm
    Smitty says:
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    The Liberty Mutual folks should be imprisoned for their negligence, even in 2007 they (FNM) were not releasing audited statements, FNM has been an ongoing criminal enterprise since at least 2004.

    They can play the trial on comedy central.

    No problemo, liberty Mutual bought D&O from AIG.

  • July 12, 2010 at 1:04 am
    Mike N says:
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    Why does the lawsuit not include the federal government? Shouldn’t the feds be sued for essentially running a scam? A scam on taxpayers, investors, mortgage holders, and all those in the mortgage business who were doing good business. Did Bernie Madoff cost taxpayers trillions? Did Allan Stanford cost taxpayers trillions? Neither of these scam artists cost us as much as the Democrat party. The feds are running an absolute ponzi scheme, and none of them have yet to be jailed.

    There is absolutely zero doubt the federal government worked in conjunction with members of congress to fill their own coffers, knowing full well the federal government – i.e. THE TAXPAYERS – would be the only ones held to account. If you doubt this, please review the top management teams and BOD’s of Fannie and Freddie, Citigroup, Goldman Sachs, etc. over the past 10 years. They are all ex-cabinet members! Or, at least within the inner circles of administrations.

    The collusion between government, GSA’s, and large businesses has brought down our economy. That same collusion (feds, GSA’s & big business) is also at work in Obama’s Madoff-Care health scam, the finance bill, cap-and-trade, and the government takeover of GM. This unholy alliance will destroy our country.

    Quick question: At what point do we as citizens wake up and realize none of this is happening by accident? This is an all-out effort to destroy our economy and country from within.

  • July 12, 2010 at 1:35 am
    Nostradamus says:
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    Mike N,

    You will be villified, ridiculed, and stoned in the public square. Why? Because you’ve had the audacity to tell the one thing that no one wants to hear-the truth. The greatest heroes in our age are the most daring liars, those who tell the most outrageous tales that have little to no basis in fact and then use the booboise’s unquestioning belief (remember, if it was on the network news it simply must be true; conversely, if it wasn’t on the TV, then it never happened) to loot them of as much wealth as possible.

    What’s wrong with you? Do you want to wake the sleeping masses from their self-induced comas and distract them from their 5 hours of TV per day?

  • July 12, 2010 at 1:55 am
    Smitty says:
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    http://mises.org/daily/2627

    “2004, Fannie was caught cooking the books.[4] The Office of Federal Housing Enterprise Oversight (OFHEO) alleged widespread accounting errors at Fannie Mae. James Lockhart, Director of the OFHEO, commented that “The image of Fannie Mae as one of the lowest-risk and ‘best in class’ institutions was a façade. Our examination found an environment where the ends justified the means. Senior management manipulated accounting, reaped maximum, undeserved bonuses, and prevented the rest of the world from knowing.”[5]”

    Goldman has an “out”, everybody knew FNM was a huge fraud going back to 2004.



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