“We didn’t have the word ‘client’ or ‘customer’ at the old J. Aron [the commodities trading firm Goldman acquired back in the 1980s]. We had counterparties – and that’s because we didn’t know how to spell the word ‘adversary,'” -Goldman Sachs CEO Lloyd Blankfein
I think all of these companies are full of BS. Each one who made billions knew what the other was up to. It was a matter of time before they were caught up with but by that time these companies had made mega money and could care less what happened to anyone else.
These lawsuits are just to make themselves look better to themselves in hopes of getting some sleep at night in the future.
The only good thing out of this action is that GS’s E+O policy probably excludes events occurring with the intent to defraud, so they are on their own for legal and damages.
If only the crooks at Goldman Sucks didn’t own congress/white house/fed/CTFC/SEC etc. Maybe then there’d be a real investigation instead of them raking in hundreds of billions of dollars, then getting slapped with these pathetic excuses for fines years after the fact. Hey you made $150 Billion off this scam…yeah we’re going to have to go ahead and fine you $500 million and we’ll also need you to NOT admit any wrongdoing.
Its total BS. Anyone that hasn’t already read it, should check out the article from Rolling Stone Magazine last year. It will totally disgust you if you weren’t already aware of all the ways Goldman has and is screwing this country.
“We didn’t have the word ‘client’ or ‘customer’ at the old J. Aron [the commodities trading firm Goldman acquired back in the 1980s]. We had counterparties – and that’s because we didn’t know how to spell the word ‘adversary,'” -Goldman Sachs CEO Lloyd Blankfein
I think all of these companies are full of BS. Each one who made billions knew what the other was up to. It was a matter of time before they were caught up with but by that time these companies had made mega money and could care less what happened to anyone else.
These lawsuits are just to make themselves look better to themselves in hopes of getting some sleep at night in the future.
More like hedging agains legal action to their run off income!
The only good thing out of this action is that GS’s E+O policy probably excludes events occurring with the intent to defraud, so they are on their own for legal and damages.
If only the crooks at Goldman Sucks didn’t own congress/white house/fed/CTFC/SEC etc. Maybe then there’d be a real investigation instead of them raking in hundreds of billions of dollars, then getting slapped with these pathetic excuses for fines years after the fact. Hey you made $150 Billion off this scam…yeah we’re going to have to go ahead and fine you $500 million and we’ll also need you to NOT admit any wrongdoing.
Its total BS. Anyone that hasn’t already read it, should check out the article from Rolling Stone Magazine last year. It will totally disgust you if you weren’t already aware of all the ways Goldman has and is screwing this country.
http://www.rollingstone.com/politics/news/the-great-american-bubble-machine-20100405