Zero Credibility

[Entendance]

Goldman battles to save state links
UK...
Germany...
Greece...
Italy
In Italy, Goldman has one of its most powerful alumni in Europe. Bank of Italy governor Mario Draghi was a vice-president and managing director at Goldman Sachs in London from 2002-05. Mr Draghi is also head of the Financial Stability Board and a member of the European Central Bank governing council...
http://tinyurl.com/zbuial

All The President’s Men (With Ties To Controversial Goldman Sachs) viewtopic.php?f=5&t=588&p=10330#p10330


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[dlry]

The SEC has no credibility...


As most people were losing their asses, the SEC was watching them.................
Report: SEC staffers watched porn as economy crashed

As the country was sinking into its worst financial crisis in more than 70 years, Security and Exchange Commission employees and contractors cruised porn sites and viewed sexually explicit pictures using government computers, according to an agency report obtained by CNN.

"During the past five years, the SEC OIG (Office of Inspector General) substantiated that 33 SEC employees and or contractors violated commission rules and policies, as well as the government-wide Standards of Ethical Conduct, by viewing pornographic, sexually explicit, or sexually suggestive images using government computer resources and official time," said a summary of the investigation by the inspector general's office.

More than half of the workers made between $99,000 and $223,000. All the cases took place over the past five years.

http://tinyurl.com/2bxva64

[Entendance]

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[dlry]

Chocolate factory versus Dairy Queen?.......If our politicians weren't so corrupt this would be their answer to Warren!(later edit..looks like no go for Warren but I'm not sure we have to remove the corrupt wording, yet : http://tinyurl.com/5cujdx



Here Come The Hypocrites! (Berkshire)

I thought these were weapons of financial mass destruction Warren?

What's the problem? You don't want to be forced to recognize the economic and accounting reality of your transactions? I don't see why that should be a problem.

Posting margin on underwater positions is a reality for everyone who trades on margin - and you do a lot of it. There's no reason why anyone - you included - should not have to put forward margin - in cash - just like everyone else.

Yeah, I know, Berkshire is "Strong". So what? That's not material to the point at hand, which is that when you are short a "PUT", which is effectively what you are, and the position is underwater, you should be required to post margin!

Reliance on "future economic strength" to avoid this requirement is a big part of why the system nearly blew up. You were a part of it writing those contracts, and you now want to be exempted from safety and soundness requirements on something you identified - in public - as a dangerous practice.

http://tinyurl.com/2bzjs7b

[defio70]

Lets see if there's any country in the Western world willing to stand up to the bankers in the face of this kind of nonsense.

viewtopic.php?f=7&t=425&p=10401#p10401

[sowhat]

May 1, 2010 Buffett backs Goldman Sachs

What else would we expect from this man?
http://tinyurl.com/295vrg6

We Need A Buffett Break
viewtopic.php?f=7&t=568&p=10428#p10245

[defio70]

The ECB has no credibility to lose at this point as it has now documented that the Euro is worth nothing at all as a currency, since it may be debased at will by Greece through the offering of worthless debt instruments into the ECB's clearing and margining system.
The Euro is now free to descend toward zero, targeting in the intermediate term my Par price-point .vs. the dollar, and likely headed for well below that.
Congratulations Europe, you have now demonstrated that your central bank is and has been issuing dog turds disguised as Euro bank notes.
If Germany has an ounce of sense they will withdraw from the Euro and return to the Deutche Mark post-haste.

http://tinyurl.com/24hxrzs

[Entendance]

Either the FED is dismantled, or the United States will be
http://tinyurl.com/382astw

Please phone and fax your senators and tell them you want the Fed audited fully
viewtopic.php?f=17&t=735&p=10510#p10510

"
cool it http://tinyurl.com/32u42zl

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[Entendance]

Are the folks smart enough to understand propaganda against Greeks ...
TRY TO DRAW YOUR CONCLUSIONS


Basically, you have a new government, it’s imposing the austerity policies that it run against, and this is an attempt to solve the crisis on the backs of ordinary Greeks. And, as is usually the case with the International Monetary Fund, it’s also an attempt to indirectly bailout the German banks, French banks, and European banks that hold most of the Greek debt. So it is a very brutal, unprecedented program. It will reduce wages, it will reduce pensions. It will make it easier to fire people. As people get fired, they will find their severance pay be reduced. Part of the package will actually be used to support banks and private businesses. And there is some resistance going on. This resistance has to escalate the strikes, general strike planned for tomorrow. I think there’s also the possibility of social explosions like the big revolt in December 2008 that you reported on. At the time, people were saying that this was the revolt of the generation of 700 euros, which was the minimum monthly salary for many of the young workers. Well, with the new measures the generation of 700 euros is becoming the generation of 550 euros. So, basically, it’s a very difficult situation, and it’s an attempt to solve the crisis that has been produced by Neoliberal free-market policies by policies that have the same conservative philosophy, but are much more brutal and much more draconian than the policies that caused...

viewtopic.php?f=7&t=511&p=10540#p10540

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[defio70]

on Fri Apr 30, 2010 10:48 am

viewtopic.php?f=17&t=506&p=10445#p10445
viewtopic.php?f=17&t=506&st=0&sk=t&sd=a&start=130#p9820
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Hugh Hendry: The Greek "Bailout" Is Really A Bailout Of French Banks
http://tinyurl.com/2d4aylt