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In reply to the discussion: A lot of people here seem to have no clue about what's happening in Greece..... [View all]think
(11,641 posts)31. The 1st question the OP addressed was who was to blame. Doesn't Goldman Sachs share in that blame?
Why are you so defensive about naming a bank that acted in a manor that could be considered less than ethical?
A bank that not only acted questionably in the Greek debt debacle but as Democratic Senator Carl Levin claimed misled Congress and duped Clients here in America:
Goldman Sachs Misled Congress, Duped Clients, Levin Says
by Robert Schmidt - April 14, 2011 6:36 PM EDT
April 14 (Bloomberg) -- Goldman Sachs Group Inc. misled clients and Congress about the firms bets on securities tied to the housing market, the chairman of the U.S. Senate panel that investigated the causes of the financial crisis said.
Senator Carl Levin, releasing the findings of a two-year inquiry yesterday, said he wants the Justice Department and the Securities and Exchange Commission to examine whether Goldman Sachs violated the law by misleading clients who bought the complex securities known as collateralized debt obligations without knowing the firm would benefit if they fell in value.
The Michigan Democrat also said federal prosecutors should review whether to bring perjury charges against Goldman Sachs Chief Executive Officer Lloyd Blankfein and other current and former employees who testified in Congress last year. Levin said they denied under oath that Goldman Sachs took a financial position against the mortgage market solely for its own profit, statements the senator said were untrue.
In my judgment, Goldman clearly misled their clients and they misled the Congress, Levin said at a press briefing yesterday where he and Senator Tom Coburn, an Oklahoma Republican, discussed the 640-page report from the Permanent Subcommittee on Investigations.
Read more:
http://www.bloomberg.com/news/articles/2011-04-14/goldman-sachs-misled-congress-after-duping-clients-over-cdos-levin-says
by Robert Schmidt - April 14, 2011 6:36 PM EDT
April 14 (Bloomberg) -- Goldman Sachs Group Inc. misled clients and Congress about the firms bets on securities tied to the housing market, the chairman of the U.S. Senate panel that investigated the causes of the financial crisis said.
Senator Carl Levin, releasing the findings of a two-year inquiry yesterday, said he wants the Justice Department and the Securities and Exchange Commission to examine whether Goldman Sachs violated the law by misleading clients who bought the complex securities known as collateralized debt obligations without knowing the firm would benefit if they fell in value.
The Michigan Democrat also said federal prosecutors should review whether to bring perjury charges against Goldman Sachs Chief Executive Officer Lloyd Blankfein and other current and former employees who testified in Congress last year. Levin said they denied under oath that Goldman Sachs took a financial position against the mortgage market solely for its own profit, statements the senator said were untrue.
In my judgment, Goldman clearly misled their clients and they misled the Congress, Levin said at a press briefing yesterday where he and Senator Tom Coburn, an Oklahoma Republican, discussed the 640-page report from the Permanent Subcommittee on Investigations.
Read more:
http://www.bloomberg.com/news/articles/2011-04-14/goldman-sachs-misled-congress-after-duping-clients-over-cdos-levin-says
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A lot of people here seem to have no clue about what's happening in Greece..... [View all]
brooklynite
Jul 2015
OP
Unless they are redlining communities by racial prevalence, individual loans are and should
JDPriestly
Jul 2015
#185
fair enough to point out the greece is corrupt and inefficient, but we all have problems there.
unblock
Jul 2015
#21
And I think most Americans would be surprised at how little income is reported in the US
erronis
Jul 2015
#28
Why fail to mention Goldman Sachs by name since they were obviously very involved.
think
Jul 2015
#7
The 1st question the OP addressed was who was to blame. Doesn't Goldman Sachs share in that blame?
think
Jul 2015
#31
The people that caused the global economic disaster don't want to talk about lenders, just the
Rex
Jul 2015
#20
That poster asserted out that GS was involved with 2% of Greek debt. That barely warrants a mention
stevenleser
Jul 2015
#139
Goldman Sachs started intervening in 2001 not 2005. And GS's role in hiding that debt allowed
think
Jul 2015
#144
GS has it's enablers, just because you know...the enormously wealthy need to be defended
Rex
Jul 2015
#124
The opinion also lost me dismissing the referendum as a "huge mistake", forgetting that having
Fred Sanders
Jul 2015
#29
i don't think the greeks are expecting magic, i think they know there will be pain regardless.
unblock
Jul 2015
#49
some austerity and righting of the ship has already happened, and there are other plans
unblock
Jul 2015
#54
because the OPer predicted that the vote would be 70% yes to more austerity.
magical thyme
Jul 2015
#115
A lot of people will ignore that post, because it is negative about teh 1% and we cannot have that.
Rex
Jul 2015
#27
Lloyd Blankfein called, said this is a great article. Explains it perfecly. Wants his money. n/t
jtuck004
Jul 2015
#26
In order to jump start their economy, they have to go deeper into recession?
Comrade Grumpy
Jul 2015
#37
Well, that does mollify me somewhat, Nye. Thanks for the soothing message...
Surya Gayatri
Jul 2015
#69
But, it WAS the point of a post addressed personally to me in my OP by the same poster,
Surya Gayatri
Jul 2015
#72
it's a simple problem to avoid Surya. Reply to facts with facts, not bigotry and name calling.
magical thyme
Jul 2015
#126
bs. Just replacing one group of people being smeared with another group of people.
magical thyme
Jul 2015
#129
So you attack him personally upthread and here you attack his wife. What do you have for an encore?
stevenleser
Jul 2015
#135
I alerted on both posts and found others had previously alerted but they were upheld 4-3
stevenleser
Jul 2015
#176
Should working-class New Yorkers pay taxes to subsidize working-class Kansans?
Fumesucker
Jul 2015
#91
care to explain how or why Greece should try to join the Trans Pacific Partnership?
magical thyme
Jul 2015
#153
Because they need to be in every trade agreement they can get into. I don't think
Hoyt
Jul 2015
#154
they're not a member of the Asia Pacific Economic Cooperative, and never will be
magical thyme
Jul 2015
#165
Look, my point was Greece needs as many damn trade deals as they can get. No more living off
Hoyt
Jul 2015
#167
I gave you an obvious way out. you could have just said "the ttip instead of tpp"
magical thyme
Jul 2015
#172
They could use some investment from foreign companies, but who is going to go there unless
Hoyt
Jul 2015
#162
Thank you for answering these questions! Miserable state of affairs for all. n/t
freshwest
Jul 2015
#119
Oh how sad, the OP says I attack them when I just point out the obvious everyone else notices.
Rex
Jul 2015
#164