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Gop Seeks Sec Records On Goldman Sachs All that glitters isn't gold! Rate Topic: -----

#1 User is offline   freedom 

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Posted 21 April 2010 - 11:56 AM

GOP seeks SEC records on Goldman ( 3 - pages)

Goldman Employees Donated $1 Million to Obama Campaign

Reid dodges questions on Goldman $$$

The day is coming when rich men will weep and howl...Posted Image

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Posted 21 April 2010 - 01:07 PM

It's all about takers. Rich and "poor" alike in the western world are using their body politic to steal whatever's not nailed down.

Although I'm not sure that the GOP will come out smelling like a rose in all of this. There is actually little to no chance Issa'll make any headway. As presumably there will be only testimony and no paper trail. The GOP are right about the issue it is only a diversion to gain more control over Wall St. by the democrats.

Regulation is not needed, just a commitment to use the SEC and enforce existing laws and or legal concepts related to Wall St. Capitalism does not need regulation per se, capitalism must be chanelled like an irrigation ditch, otherwise control becomes too complex. Simple structural paradigms.

I'll explain what I mean. 90% of all "insider" trading occurs between investment banking and OTC sales. It's in house maybe even in the same office. The SEC knows this anybody with any proximity to Wall St. knows this. Martha Stewart gets offered up as a sacrificial lamb, her daughter's boyfriend probably told 10 other people as did many of his co-workers. As would your relative tell you. They're not going to allow a relative to get killed , or not make a windfall in this situation. What they know will have a financial impact up or down. And morality, I wonder if that is even an issue in something this abstract. So the SEC IS the conscience in this situation, not because of sin, but because these transactions are structurally challenging maybe even dangerous to the commodities directly.

The SEC knows about this trading since the Last depression. Part of their mandate was to solve this 3./4 of a century ago. Did they do anything? NO!! From the outset with rules of the game only stealing in this context all they had to do was seperate investment banking from OTC. Project development from retail capitalization. A simple solution. two liscences, make it illegal for the two to ever have any corporate contact, and this issue would be gone.

You could place a million dollars in front of my nose, and come back a week latter and there it would be to the penny. But if I worked in a house and knew something that would destroy auntie May's pension, I wouldn't even think twice about telling her. How many doctors and lawyers pillow talk there confidences to their wives despite their oaths?

We'll see how this shakes out...


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