Jesse's Café Américain Wed 2010-05-05 16:22 EDT
Market Manipulation, Systemic Risk and Fraud, Pure and Simple, And It Continues Today
This article by the Financial Times should remove any doubt in anyone's mind that Goldman Sachs was willfully selling fraudulent financial instruments. It appears that they were working in conjunction with Ratings Agencies, Mortgage Origination Firms, and Hedge Funds to cheat investors...Tom Montag, then a senior Goldman executive and now head of corporate and investment banking at Bank of America, was quoted as describing the deal in an e-mail as follows: ``Boy that timeberwof (sic) was one shi**y (sic) deal,'' according to the Senate subcommittee...Within five months of issuance, Timberwolf lost 80 per cent of its value...
continued; fraud; Jesse's Café Américain; Market Manipulation; Pure; simple; systemic risk.