Archive for the ‘Goldman Sachs’ Category

Goldman Sachs’ Mystical Mockery of Victims of Talmudic Economics

April 14, 2012
Goldman Sachs agrees to pay a token 22 million dollar ‘penalty’ to the U.S. Securities and Exchange [Crime Coverup] Commission. Always, by the numbers.

Count on the Pope and his brothers in the usury-charged-according-to-a-racist-double-standard faith and their brothers at Goldman Sachs to lead us only further down the path to destruction.



Goldman to pay $22 million to settle “huddles” case

The U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority said the charges stemmed from Goldman’s weekly “huddles,” at which the bank encouraged its stock research analysts to “provide their best trading ideas to firm traders.”

Those traders then passed tips to a select group of top clients, the SEC said, but the agency’s charges did not include allegations of insider trading.

The SEC said that Goldman policy, for example, required broad distribution of market-sensitive statements from analysts about the companies they covered.

But the policy did not apply to certain internal messages commenting on “short-term trading issues or market color,” and Goldman failed to define what those exceptions included, regulators said.

“Higher-risk trading and business strategies require higher-order controls,” said Robert Khuzami, the SEC’s enforcement director.

Khuzami said that “Goldman failed to implement policies and procedures that adequately controlled the risk that research analysts could preview upcoming ratings changes with select traders and clients.”

Goldman agreed to pay the penalty, split between the two regulators, and revise its policies to correct the problem.

A spokesman for the bank, Michael DuVally, said Goldman was pleased to resolve the matter.

The regulators said the weekly huddles took place from 2006 to 2011 and that analysts would discuss “high-conviction” short-term trading ideas and other “market color” with traders.

Then in 2007, Goldman launched a program that allowed research analysts to call a select group of priority clients.

Full article:


http://www.reuters.com/article/2012/04/12/us-goldman-huddles-idUSBRE83B10L20120412

Also see:

Exclusive: Goldman Sachs VP Changed His Name, Now Advances Goldman Lobbying Interests As Top Staffer To [House Committee on Oversight and Government Reform Chairman] Darrell Issa

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Pope’s "Just Economic Order" Rabbi Tamari Published Goldman Sachs/Wall St. Rabbi Bendory via his "Business Ethics Center of Jerusalem"

April 3, 2012
This is a follow up to the previous entry:

Pope Benedict’s ‘Noahide Law’ Commission Mocks Victims of Talmudic Economics

Rabbi Dr. Meir Tamari, who addressed the Vatican-Chief Rabbinate of ‘Israel’ commission’s recent meeting titled, “Religious perspectives on the current financial crisis: vision for a just economic order,” is founder of a “Business Ethics Center of Jerusalem.” Its website published an article by a V.P. at Goldman Sachs and self-described “Wall St. Rabbi,” David Bendory in 2008.

http://web.archive.org/web/20080709061138/http://besr.org/default.aspx

The full article in which Wall St. Rabbi Bendory gloats over how (according to him) a Jesuit-trained Catholic approached him for religious direction and now promotes the Wall St. Rabbi as a sage to all with ears is archived here:

The Rabbi of Wall Street

We documented Rabbi Bendory’s status as a Goldman Sachs VP in the execution and clearing department–the very heart of the vampire squid that is Goldman Sachs–and his efforts at infiltrating the right wing movement here:

Alex Jones Provides Platform to Fanatical Zionist Wall St. Rabbi/Goldman Sachs VP

Background on Rabbi Meir Tamari here:

Pope Benedict’s ‘Noahide Law’ Commission Mocks Victims of Talmudic Economics

The outrage of this defies description. Those with eyes will see.

Beware. No good can come of Rome’s communion with rabbis who extol the ‘ethics’ of interest free loans for ‘Jews’ and usurious loans for ‘non-Jews’ and the ‘ethical’ teachings of a Goldman Sachs Execution and Clearing VP.  Throw off this unequal yoke. It’s pulling us to temporal and spiritual slaughter.

Alex Jones Provides Platform to Fanatical Zionist Wall St. Rabbi/Goldman Sachs VP

September 23, 2011
Wall Street Rabbi, Dovid Bendory

Wall Street Rabbi, Dovid Bendory, in his “Gun Rabbi” guise

This afternoon, September 23, 2011, alternative media host Alex Jones provided an open platform for Orthodox Rabbi Dovid Bendory. “Gun Rabbi” Rabbi Dovid Bendory wears many hats, among them, Vice President at Goldman Sachs. This important detail wasn’t mentioned to Alex Jones’ listeners because many of them are clued into the Goldman Sachs pirate organization and its role in the world financial collapse.

Rabbi Bendory’s byline for an article of his published by the Journal of Talmudic Law and Finance credits him as, “Vice President of Risk Management Technology at Goldman Sachs in New York City where he has worked for the past 15 years.” At Onesource his title is given as, “Vice President Pwmgt Information Technology Group of Goldman Sachs Execution & Clearing.” At the website of his Talmudic Pidyon organization in his autobiography he lists his day job as, “financial strategist at a bank in New York.” At another of his Pidyon websites he lists his occupation as, “financial strategist at Goldman, Sachs & Co. in New York.” At the website of the Rabbinical Council of America of which Rabbi Bendory is a member, his occupation is given as, “Software Engineer at Goldman, Sachs & Co. in New York.”

It would be interesting to know if Rabbi Bendory, apparently a software engineer, is involved with the software that Goldman Sachs uses in its “front-running” market-cheating mechanism. The Execution and Clearing division of Goldman Sachs, where Rabbi Bendory apparently works, is where this illegal, predatory software-based scam takes place. Whatever the case, it is evident that Rabbi Dovid Bendory works with one of the most exploitative, predatory financial institutions in the history of the world, Goldman Sachs, and is profiting from its savaging of the world economy. Alex Jones’ listeners should be made aware of this; they should know that this deceiver masquerading as a patriot “Gun Rabbi” is really The Wall Street Rabbi (he teaches Talmudic Law (halacha) at the Wall Street Synagogue daily). Rabbi Bendory’s “Gun Rabbi” website, which is obviously intended to draw a largely non-Judaic, truth-seeking, right-wing, libertarian  audience, doesn’t mention anything about Goldman Sachs or Wall Street for obvious reasons.

The interview Alex Jones gave this Rabbi-Banker, Dovid Bendory can be downloaded HERE and begins at around 10 minutes 15 seconds. The pretense of the interview is that “Gun Rabbi” Bendory is a great advocate of 2nd Ammendment rights but the interview quickly becomes a showcase for Rabbi Bendory’s Talmudism and Zionism. Alex Jones even goes along with Rabbi Bendory’s ruse of support for blacks, even as he approvingly cites the anti-black racist (and anti-Christian, anti-“Goy”), Rabbi Moses Maimonides (allegedly and strangely) in support of the 2nd amendment of the U.S. Constitution. Jones invited this predatory banker-rabbi to return to his show for a full hour at a later date. Why is Alex Jones giving this racial-supremacist Orthodox Rabbi and predatory banker a platform to ingratiate himself with his largely non-Judaic audience for his  Judeo-supremacist purposes?

This is yet another case of rabbinic masquerading and deceit and infiltration of the right wing for the purpose of redirecting people of Christian European background into the Zionist, Rabbinic camp. We have documented other cases HERE, HERE, HERE, HERE, HERE, HERE, HERE, HERE, HERE, HERE, HERE, HERE and throughout this blog.

Irish Leaders Castigated As Greatest Traitors Of All Time

January 13, 2011

Irish Leaders Castigated As Greatest Traitors Of All Time

The Food Bubble

July 3, 2010

Johann Hari: How Goldman gambled on starvation

Speculators set up a casino where the chips were the stomachs of millions. What does it say about our system that we can so casually inflict so much pain?

The Independent

It’s Not Trillions of Dollars of Mortgages in Default Causing this Financial Meltdown

October 10, 2008

The 60-some trillion dollar derivatives racket which triggered the present financial catastrophe, and subsequently, an antithesis in the form of a multi-trillion dollar extortion paid to Wall Street and European usurers and speculators is explained here:

http://georgewashington2.blogspot.com/2008/09/i-am-for-free-market-but-if-us.html

It’s Not Trillions of Dollars of Mortgages in Default Causing this Financial Meltdown

October 10, 2008

The 60-some trillion dollar derivatives racket which triggered the present financial catastrophe, and subsequently, an antithesis in the form of a multi-trillion dollar extortion paid to Wall Street and European usurers and speculators is explained here:

http://georgewashington2.blogspot.com/2008/09/i-am-for-free-market-but-if-us.html

The Money Masters

September 26, 2008

http://www.themoneymasters.com/

The Money Masters

September 26, 2008

http://video.google.com/googleplayer.swf?docid=-515319560256183936&hl=en&fs=true

http://www.themoneymasters.com/

Mushroom Cloud over Wall Street as US Constitution Burns

September 23, 2008

from: http://www.marketoracle.co.uk/


Mushroom Cloud over Wall Street as US Constitution Burns

These are dark times. While you were sleeping the cockroaches were busy about their work, rummaging through the US Constitution, and putting the finishing touches on a scheme to assert absolute power over the nation’s financial markets and the country’s economic future. Industry representative Henry Paulson has submitted legislation to congress that will finally end the pretense that Bush controls anything more than reading the lines from a 4′ by 6′ teleprompter situated just inches from his lifeless pupils. Paulson is in charge now, and the coronation is set for sometime early next week. He rose to power in a stealthily-executed Bankster’s Coup in which he, and his coterie of dodgy friends, declared martial law on the US economy while elevating himself to supreme leader.

“All Hail Caesar!” The days of the republic are over.

Section 8 of the proposed legislation says it all:

“Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.”

Right; “non-reviewable” supremacy.

Congress, of course, is more than eager to abdicate whatever little authority they have left. They’re infinitely grateful for their purely ceremonial role, the equivalent of Caligula’s horse, albeit, with considerably less dignity. Has even one senator spoken out against this madness, which–according to informal internet polls–is resoundingly rejected by the voters?

Full article:

http://www.marketoracle.co.uk/Article6399.html

Can You Trust a Wall Street Veteran with a Wall Street Bailout?

By Kevin G. Hall | McClatchy Newspapers

WASHINGTON — Making the rounds on the Sunday morning talk shows, Treasury Secretary Henry Paulson repeatedly said today’s financial problems were long in the making. He should know. He was part of the Gold Rush that has brought the global financial system to the brink of collapse.

Paulson presided over one of the most profitable runs on Wall Street as chairman and chief executive officer of investment banking titan Goldman Sachs & Co. from 1999 until President Bush nominated him on May 30, 2006 to take over the Treasury Department.

Back then, Bush saw Paulson’s Wall Street experience as a plus. “Hank will follow in the footsteps of Alexander Hamilton and other distinguished Treasury secretaries who used their talents and wisdom to strengthen our financial markets and expand the reach of the American Dream,” Bush said at the time.

But with Paulson now seeking virtually unfettered authority to administer the largest bailout of the financial industry in U.S. history, many are wondering whether Paulson also doesn’t come with enormous potential conflicts of interest.

That was one reason Democrats on Sunday expressed reluctance to approve the administration’s draft legislation that would leave to Paulson virtually all authority over the proposed $700 billion bailout. The legislation would allow him to decide which securities to buy, from whom to buy them, and which outside companies and people to hire to help him do so.

“If we grant the Treasury broad authority to address the immediate crisis, we must insist on independent accountability and oversight,” said Democratic presidential candidate Sen. Barrack Obama. “Given the breach of trust we have seen and the magnitude of the taxpayer money involved, there can be no blank check.”

In recent days, there’ve been few outward expressions of distrust of Paulson in particular. In fact, many said his long reign on Wall Street make him uniquely qualified to deal with today’s problems.

“Hank is the right guy,” New York Mayor Michael Bloomberg, who made his millions providing information to Wall Street traders, told NBC’s Meet the Press. “If I had to have one person at the helm today I would pick Hank Paulson.”

But the conflicts are also visible. Paulson has surrounded himself with former Goldman executives as he tries to navigate the domino-like collapse of several parts of the global financial market. And others have gone off to lead companies that could be among those that receive a bailout.

In late July, Paulson tapped Ken Wilson, one of Goldman’s most senior executives, to join him as an adviser on what to about problems in the U.S. and global banking sector.

Paulson’s former assistant secretary, Robert Steel, left in July to become head of Wachovia, the Charlotte-based bank that has hundreds of millions of troubled mortgage loans on its books.

The administration’s draft law also would preclude court review of steps Paulson might take, something Joshua Rosner, managing director of economic researcher Graham Fisher & Co. in New York, said could be used to mask previous illegal activity.

“The Treasury’s ability to, without oversight, determine (that) a financial institution (is) an agent of the government seems like it could be used to serve several purposes, including limiting the potential liabilities of an institution or its executives,” he wrote in a note to investors late Sunday.

The Treasury proposal sent to Congress also offers no process to hire asset managers in an open and competitive process. That’s particularly questionable given that Wall Street players are now hiring Wall Street players, Rosner said.

“This seems to invite a risk of collusion between sellers and buyers to the detriment of the taxpayer,” he wrote.

At a minimum, there’s irony in Paulson being in charge of so large a bailout.

In the last annual report at Goldman that Paulson signed off on in November 2005, a year in which he received $38 million in compensation, investors were clearly told that the federal government wouldn’t be there to save them from bad investments.

“Goldman Sachs, as a participant in the securities and commodities and futures and options industries, is subject to extensive regulation in the United States and elsewhere,” the report said.

But those regulations are designed to protect the interests of clients in the market, it said. “They are not … charged with protecting the interest of Goldman Sachs shareholders or creditors,” it said.

That’s a different tune from the one Paulson was singing Sunday.

“Last week there were times when the capital markets or credit markets were frozen,” Paulson said on NBC’s Meet the press. “American companies weren’t able to raise financing. That has very serious consequences. So what we need to do right now is stabilize the markets, and this is for the, for the benefit of the taxpayers we’re doing this, the American public. Then, once we get behind this and get this stabilized, there’s a lot we can talk about in terms of reform.”

What Paulson didn’t say is that the excesses that led to the frozen credit markets couldn’t have happened without Wall Street. Lenders weakened their standards because loans were sold to investment banks, which didn’t much care about the loan quality since they then pooled the loans with thousands of other loans and sold them as bonds to investors. If the whole thing collapsed, it would be the investors who lost out.

Those bonds, called mortgage-backed securities, are precisely the bad assets taxpayers will now be buying back from Paulson’s colleagues on Wall Street.

During Paulson’s tenure, Goldman was not as big a player in issuing mortgage bonds as two other investment banks that have gone under this year, Bear Stearns and Lehman Brothers.

But the 2005 annual report shows that Goldman was still a significant player. Its trading division, which included the mortgage bonds and complex financial instruments called derivatives, reported pre-tax earnings of more than $6.2 billion, up sharply from $3.5 billion in 2003.

The report also shows that Goldman benefited greatly from the wave that is now being deemed a wave of excess.

Goldman’s pre-tax earnings rose from $4.4 billion in 2003 to almost $8.3 billion in 2005. Similarly, its investment banking division had pre-tax earnings leap from $207 million to $413 million.

Paulson’s personal fortunes also zoomed in those years.

In 2002, Paulson received $12.1 million in compensation, including a $6.3 million bonus — an improvement over the previous three years when Wall Street accounting scandals unsettled investment banks, including a $1.5 billion settlement Goldman and other banks paid for issuing overly bullish research reports that promoted deals the banks themselves were involved in.

Published reports said Paulson received $30 million in compensation and salary in 2003.

After Paulson left Goldman and mortgage bonds began losing money, the investment bank erased those losses and then some by betting against the very products it had sold, Fortune magazine reported last year.

http://www.mcclatchydc.com/227/story/52856.html