It is amazing to think this kind of stuff is still legal right now, and I am not even sure this new regulatory bill outlaws such practices.

From some internal emails the Government just released about Goldman that further prove how they have the market rigged.

The firm made money on the upside -- originating, securitizing and selling subprime mortgage-based securities to investors -- and on the downside, thanks to the insurance.

"Bad news," a May 17, 2007, email began from one Goldman employee to another. A security the firm had underwritten and sold had just lost value, costing Goldman about $2.5 million.

Further down in the email, the employee, Deeb Salem, wrote "Good news...we own 10mm protection...we make $5mm."

The firm made $5 million betting against the very securities it had underwritten and sold.

What is most sickening is that we paid them 100 cents on the dollar for their "protection" through AIG on corrupt products they initiated.

We might as well start selling homeowners policies to arsonists if this kind of stuff is allowed.

It is a HuffingtonPost article (a liberal site) but they used govt. released emails to build the story around so lets not just attack the source instead of the content.

http://www.huffingtonpost.com/2010/04/24/goldman-sachs-emails-big-short_n_550547.html

Once John Paulson showed them the tricks of the trade, they jumped on board hoping the housing market would continue collapsing.

Just picture about 100 execs having a huge party bash....rootin and a tootin for Americans to go underwater on their mortgages. These fuckers are psychopathelogical inbreds...the whole lot of them.

Are you surprised these new details are emerging when Obama is trying to pass new regulations?

New details? This stuff has been known for quite some time now. Remember, Goldman Sachs donated 1 million dollars to Obama's election campaign, which was the second largest donation.

If there is funny business, they would not have gone after GS. The White House will be dragged through the mud on this.

Footwedge wrote: If there is funny business, they would not have gone after GS. The White House will be dragged through the mud on this.

When the fox is guarding the hen house their will be plenty of funny business.

majorspark wrote:

Footwedge wrote: If there is funny business, they would not have gone after GS. The White House will be dragged through the mud on this.

When the fox is guarding the hen house their will be plenty of funny business.

+1

majorspark wrote:When the fox is guarding the hen house their will be plenty of funny business.

The inmates are running the asylum.

Mr. 300 wrote:

majorspark wrote:

Footwedge wrote: If there is funny business, they would not have gone after GS. The White House will be dragged through the mud on this.

When the fox is guarding the hen house their will be plenty of funny business.

+1

I forgot who was in the White House when this was going on?

More fun e-mails.

http://www.washingtonpost.com/wp-dyn/content/article/2010/04/24/AR2010042401971.html

Bigdogg wrote: I forgot who was in the White House when this was going on?

I know right? I also forget who had control of Congress.

Look we must keep the free market free, no government involvement needed here that is just socialism and communism, If Obama is trying to regulate these guys it does not surprise me as Democrats hate business and hate profits.

BCSbunk wrote: Look we must keep the free market free, no government involvement needed here that is just socialism and communism, If Obama is trying to regulate these guys it does not surprise me as Democrats hate business and hate profits.

Good to see you're finally seeing the light.

There is just as much greed in Washington - on both sides of the aisle - as in Wall Street. Burn'em all!