Goldman Sachs and SEC Fraud Allegations
The SEC case against Goldman Sachs is lining up to be both a political and economic showdown as the Wall Street regulator looks to take on what is often considered on of America’s dirtiest investment banks. The SEC alleges that Goldman committed fraud by selling securities as a solid investment, even when the counter-party was betting against them.
New Developments
Anyone who knows Goldman’s history knows that Goldman Sachs probably shorted its own stock ahead of the news. Although slightly laughable, as Goldman would probably be the only corporation to do it, I would completely expect it from Wall Street’s most trashed firm. It has now been made public that Goldman may have traded its own stock, knowing full well a $5 billion investment from Warren Buffett was coming at the height of the financial crisis. Rajat Gupta, the person involved in leaking the investment, has stepped down as director, only increasing the interest in Goldman’s dealings.
Buffett Speaks Out
Warren Buffett has already come out to make a statement that he expects Goldman to continue on and be found not guilty of fraud. This is generally out of the comfort zone for a usually quiet Buffett and in my opinion shows that he’s worried about his investment. The fraud case against Goldman looks relatively weak, with the investigation passing by a 3-2 margin. However, insider trading or other charges could emerge if Goldman did, in fact, trade its own stock based on information not yet public.
This is Going to Get Ugly
The SEC showed some courage, or just wanted political points, when it brought up the most recent case against Goldman, especially with only a 3-2 vote to back it up. Goldman Sachs is notorious for having government in its back pocket with many Goldman alum finding their way at the Federal Reserve or in the US treasury. Hank Paulson, former Treasury Secretary under the Bush administration, generated what was perhaps one of the best of the bailout deals for Goldman Sachs, his former employer.
An “octopus wrapped around the face of humanity” as one journalist put it; the New World Banking Order has arrived. In 2009 speculative, uncontrolled derivatives were the Worlds largest market at an estimated 600 Trillion. The Worlds total economic output was an estimated 58.07 Trillion and the total World bond market was an estimated 82.2 Trillion. Yet, there is no “crime” that the bankers can be charged with as they bankrupt citizens and Nations into the New World Order?
The appropriate criminal charge should be Treason to the American People and our Democratic Republic and Constitution. The members of the Trilateral Commission and the Bilderberg Group in government and banking who conspired to overthrow our soverenity as an independent nation, who conspired to bankrupt our Treasury with unjust Wars (3) and multinational corporate bailouts, conspired to control mass media “free Press”, conspired and manipulated “financial crisis” for their own gain, conspired to “relocate” American industry and technology, conspired to offshore “American Income Tax”, and who have conspired to enslave American citizens with National debt (about $64,000 per citizen) and personal debt. Deserve the death sentence by firing squad for Treason.
Obama, your New World Order is Totalitarian and we Patriots, American free citizens, will fight for our Democracy, Independence and Freedom.
I am presently in litigation with Fremont Reorganizing, Goldman Sachs dba Litton Loan Servicing, et al., (2 different cases) for about 2 years now. The main issue with the complaint is a fraudulent loan originated by Fremont in June 2006. This in turn produced an array of other
issues: unsigned deed of trust, over billing issues, lost payments, excessive balloon payment, back dated assignments, illegal non-judicial foreclosure documentation, missing documentation, illegally reporting to my credit, falsifying declarations, 6 week TRO’s, court procedures not followed, judges wait until the courtroom is cleared to rule against a TRO (both times); retired (78 year old) judge ruled against a seated judges TRO where the retired judge took 30 minutes to read a 300 page brief. The whole time they have been ignoring my request and failing to give me the required documentation so that I can rescind the loan. Goldman Sachs dba Litton Loan Servicing has been aggressively trying to foreclose on my property. I believe to cash out for insurance reasons. (It’s over a million dollar loan) I have invested over $400,000 into this property for the past 5 years and if I had known about this mortgage meltdown game played by Wall Street I would have never proceeded with this Real Estate transaction. The Media and the Government has not once addressed or helped the borrower, namely me, who also has been damaged by these defaulted CDO’s.
A Time line of what’s going on with Goldman Sachs to show how they are scheming to pursue foreclosures for the insurance by acquiring distressed, shelled fraudulent companies which will eventually or haven’t already gone BK…
Oct 26, 2005 Litton Loan Servicing Class Action – mishandling loans, servicing over 400,000 borrowers – case settled Feb 17, 2009 for $537 (limited due to class status)
Feb 27, 2007 FDIC Cease and Desist – Fremont Reorganizing for illegal loan practices, et al., (largest predatory lenders who heavily solicited brokers for their schemes)
Oct 16, 2007 Massachusetts Lawsuit vs Fremont and Goldman Sachs – Predatory Lending Practices – settled May 11, 2009 for $60 mil
Dec 11, 2007 – Goldman Sachs Acquires Litton Loan Servicing
June 2, 2008 Litton (Goldman Sachs) Acquires Fremont Reorganizing Servicing Rights
June 19, 2008 Fremont Reorganizing files BK
Apr 16, 2010 – SEC vs Goldman Sachs – Securities Fraud
Here is the link to my blog http://bushnellcomplaint.blogspot.com/ if you want to download court documents pertaining to my case.
Note: My wife is pursuing individuals who are interested in joining her in a class action lawsuit with regards to violation of her community property rights in a wrongful foreclosure. If you are in a community property state and a spouse is not on title you may have grounds for legal action.
I think that Goldman is likely completely innocent. To read my analysis of the situation, see http://adampowell.com/invest/?p=235