Goldman Sachs // Current TV

We Stole $3.5 Trillion Dollars From You; We Dare You To Do Something!

This is a great essay. It's a bit older, but worth revisiting as we are in the presidential campaign season and I've not heard any candidate, not even Ron Paul speak about possibly the greatest heist in world history. And the media is more than happy to keep waving abortion, race, religions (insert your favorite wedge issue here) in our faces day after day.

***

I wrote Arrogance Of A Banker. I thought that would stir someone up enough to do something, but it didn’t.

This is how my friends and I stole 2.2 trillion dollars of your money in the 1990s and more since. The Treasury sells bonds to pay the deficit using the New York branch of the Federal Reserve and what are called Primary Dealers. What we did was really simple. We just sold 2.2 trillion dollars in Treasury bonds over and above what the deficit required in the 1990s. All you had to do to arrest everyone in Wall Street was to examine the books at Cantor Fitzgerald’s offices at One World Trade Center on the 101st to 105th floors. Too bad all the evidence went up in smoke on 9-11-2001.

There were no repercussions for taking down the World Trade Center with nanothermite and controlled demolitions. Well timed and placed explosions turned 440,000 cubic yards of concrete (336,404 cubic meters) into dust in less than 3 seconds but most people believed that jet fuel alone did that. What a laugh.

That was so funny and made so much money for us that we decided to do it again. We sold 1.5 trillion more in bonds than the deficits required over a period of 45 months. So far nothing has happened. I know we can’t cover it up by blowing up the World Trade Center again. But we can always launch World War III. We were planning another war anyway.

I need to make something perfectly clear that people do not seem to understand. Catherine Austin Fitts has been telling people about the billions of dollars that goes missing every week from government spending. She was at Housing and Urban Development and said 59.3 billion dollars went missing from HUD in just two years. Most of you know that Donald Rumsfeld and rabbi Dov Zakheim, the Comptroller of the Pentagon, admitted on 9-10–2001 that 2.3 trillion dollars went missing from the Department of Defense. Fortunately, neither Rumsfeld nor Zakheim were looking for that missing money on 9-11-2001 because Flight 77 just happened to crash into the Pentagon auditing section and killed the auditors who were hot on the trail of the missing trillions.

The money Catherine said has been stolen from federal spending – you as a mere peasant are not allowed to audit – is in my estimate about 4 billion dollars a week. But that is completely separate from the money we pocket from selling phony Treasury bonds.

Let me give a clear example so even the dumbest Christian Zionist can understand. In June of last year approximately 17.3 billion dollars (at a rate of 4 billion dollars a week for 4.3 weeks) was stolen from unaudited government spending. But for the sake of believability I will cut that estimate by 3 billion down to 14.3 billion dollars. This helped run the deficit up from 53.7 billion dollars to 68 billion. So the Treasury in June of last year had to raise a total of 68 billion including the 14.3 billion Catherine was speaking about. The New York FED and the primary dealers sold a total of 211 billion dollars. If you subtract the 68 billion actually needed from the 211, you get a total of 143 billion dollars we pocketed from the sale of phony Treasury bonds. Now go back and add in the 14.3 billion to the 143 billion and you get a total of 157.3 billion dollars we stole in just one month from you.

Like I said, “What are you going to do about it?”

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It's Official: Wall Street Has Become a Religion

New York - The international financial industry now controls Heaven as well as Hell. After years of behind-the-scenes maneuvering and back room deals, Wall Street officially became a major religion of the world this morning.

With a hierarchy mirroring that of the Catholic Church, Worship Wall Street now fully rules over the financial district, which has been deemed as its sovereign territory.

In a secret ceremony in which bond receipts were burned in a “bondfire of the vanities,” Lloyd Blankfein, CEO and chairman of Goldman Sachs, was elected Pope.

“This will teach those OWS punks to mess with us,” His Holiness said. “Occupy Wall Street is just a movement. Worship Wall Street is a religion with direct connections to the Almighty as well as to the almighty dollar.”

Cardinal Mayor Michael Bloomberg warned that if anyone as much as raises his voice in the financial district, he will be charged with religious persecution and jailed until the Second Coming, “whatever that is.”

“It won’t be easy doing the Lord’s work while running the City of New York into the ground,” Bloomberg whined. “But they gave us these swell red dresses and crazy red hats to wear, so I couldn’t resist.”

The entire staff of the Wall Street Journal has been hired to write the Worship Wall Street Bible. The holy book is expected to contain the first understandable explanation of the 2008 Too Big to Fail Bailout.

“That, brothers and sisters, was a true Act of God,” Pope Lloyd said. “Imagine Republicans and Democrats joining together and passing history making legislation in less than a week’s time. We are going to call it The Miracle of the Campaign Contribution.”

Pope Blackfein the First went on to describe some of the other advantages of turning the financial industry into religion.

“Now no one will be going to jail for destroying the American economy through fraudulent activity and illegal actions,” he said. “They don’t investigate a church for such things. It’s not as if we diddled our altar girls, who by the way are the former Dallas Cowboy Cheerleaders.”

But Blankfein saved the best for last: “As a religion, we are completely exempt from taxes -- Federal, state, city, and sales. Say hallelujah, America.”New York - The international financial industry now controls Heaven as well as Hell.... more

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OWS and Gobaman Sachs

I appeared on CNN to discuss President Obama's appointment of a tax cheating Goldman Sachs lobbyist to a top Treasury office - after pledging not to hire lobbyists in his administration. It was the second major lobbyist Obama has hired. For more details, see here: http://www.openleft.com/showDiary.do?diaryId=11152
Occupy Protesters Down on Obama, Survey Finds

By MARJORIE CONNELLY
Zuccotti Park in New York’s financial district is decked out with posters and signs for the wide array of political viewpoints of the Occupy Wall Street protesters. The six-week-old movement has several Web sites to promote various perspectives. But just who are these protesters? What is their political ideology? Do they have jobs?

Costas Panagopoulos, a professor of political science at Fordham University, recently conducted a survey of the Occupy Wall Street protesters in New York.

Dr. Panagopoulos described the protesters as “disgruntled Democrats.” Sixty percent of those surveyed said they voted for Barack Obama in 2008, and about three-quarters now disapprove of Mr. Obama’s performance as president. A quarter said they were Democrats, but 39 percent said they did not identify with any political party. Eleven percent identified as Socialists, another 11 percent said they were members of the Green Party, 2 percent were Republicans and 12 percent say they identified as something else.

Questionnaires handed out by Dr. Panagopoulos’s team of 15 interviewers throughout the park were completed by 301 adults from Oct. 14 to Oct. 18. “I followed the academic protocols that colleagues of mine adopted in the past to survey demonstrations,” he said.

In the survey, 80 percent described themselves as liberal; half of those said they were extremely liberal.

Most protesters surveyed had serious misgivings about the federal government: 52 percent said the government in Washington could be trusted to do what was right only some of the time, and another 42 percent said it could never be trusted. Similarly, almost all — 97 percent — disapprove of how Congress is doing its job.

Three in 10 of the Occupy Wall Street protesters picked unemployment as the most important problem facing the country, by far the top response. Ten percent said health care, followed by the federal deficit and government spending (9 percent) and the wars in Afghanistan and Iraq (9 percent).

Although most elected Democrats have offered only guarded support of the movement, more than two-thirds of those surveyed say the protest is likely to have an effect on the views of Democratic politicians. “They have ambitious expectations of the Democrats,” Dr. Panagopoulos said. “And are likely to be disappointed if their optimism is misplaced.” Most think the protests are less likely to change the opinions of Republican politicians.

Two-thirds of the survey respondents have attended college, and 25 percent are currently students. Thirty percent have full-time jobs and 18 percent are employed part-time. Forty percent are members of a union household. (Nationally, in a recent New York Times/CBS News poll, 58 percent of the general public have attended college and 62 percent are employed, either full-time or part-time.)
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O.co aka Overstock.com vs. Goldman Sachs: A True David & Goliath Story

For six years Overstock.com has waged a war to expose Wall Street mischief. We did not go looking for a fight, but our company was attacked, and we learned we were not alone: the same manipulation-for-profit tools that Wall Street had deployed against us had also been deployed against many American companies, harming job creation, innovation, and economic growth. We knew that if left unchecked and unexposed, Wall Street's games could ultimately damage U.S. capital markets.

So in 2005 and 2007 we filed two lawsuits. The first case was against a hedge fund (Rocker Partners) and hatchet-job-for-hire research team (Gradient Analytics), both with ties to Jim Cramer. The second case was against a group of eleven Wall Street prime brokers, culminating in Goldman Sachs. The hedge fund in question (Rocker Partners) hired famed lawyer David Boies, and the prime brokers showed up with an army of the most prestigious law firms in America. Our lawyers were Dore Griffinger, Ellen Cirangle, Jonathan Sommer and Catherine Jackson of Stein & Lubin, a small but excellent San Francisco law firm.

We won the hedge fund case against Gradient and Rocker, extracting an apology, a retraction and over $5 million in cash (it felt good to beat David Boies' firm). In our prime broker case, one of the Wall Street banks (Lehman Brothers) has gone under (two, Bear Stearns and Merrill Lynch were sold at fire sale prices), and another seven paid us millions to let them out.

That leads us to the main event this coming March, when O.co will square off against Goldman Sachs and Bank of America subsidiary, Merrill Lynch, in a San Francisco courtroom. Recently, we uncovered evidence of collusive action between Goldman Sachs, Merrill Lynch and other Wall Street bad guys, in a scheme designed to fool regulators and profit illegally at the expense of O.co. As a result of this, in December 2010, we moved to add a Racketeer Influenced and Corrupt Organization (RICO) Act claim and requested treble damages, but the court denied our motion, though we firmly believe the conduct of Goldman Sachs and Merrill Lynch was "racketeering" and "corrupt." Nevertheless, we are moving forward: trial is scheduled to commence March 5, 2012. At trial we will hold Goldman Sachs and Merrill Lynch accountable and expose to public view a slew of illegal Wall Street practices, some of which, practiced in the broader market, have been responsible for the current economic downturn.

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