Manchy
10-16-2009, 05:52 PM
There is so much wrong with this I don't know where to begin. Goldman has had an inside track with the Federal Reserve and Treasury for a very long time and spins that inside information into huge profits. When AIG and Lehmann crashed and burned, they knew what was coming and had taken out counter-party insurance which paid off handsomely. One of the major reasons the Fed is so against an audit of their books is that the truth would come out on the cozy relationship that former Goldman Sachs employees have with current ones.
The most profitable quarter Goldman Sachs ever had in its history was the second quarter of 2009 -- just a few months after massive amounts of taxpayer money were transferred to them and their counter-parties in order to prop up their business, while several of its key competitors were allowed to die.
The second-most profitable quarter it ever had in its history was the third quarter of 2009.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a6ItnK32Cl6Y
Oct. 16 (Bloomberg) -- The U.S. Securities and Exchange Commission named Adam Storch, a 29-year-old from Goldman Sachs Group Inc.’s business intelligence unit, as the enforcement division’s first chief operating officer.
Storch, who joined the SEC Oct. 13, was named to the newly created post of managing executive in the enforcement unit, charged with making the division more efficient, the SEC said today in a statement. At New York-based Goldman Sachs, he had worked since 2004 in a unit at that reviewed contracts and transactions for signs of fraud.
“Adam’s skill in technology systems, workflow process, and project management will greatly benefit the division,” SEC enforcement chief Robert Khuzami said in the statement. “He will help to make us more efficient and nimble and permit us to put more of our investigators on the front lines.”
The most profitable quarter Goldman Sachs ever had in its history was the second quarter of 2009 -- just a few months after massive amounts of taxpayer money were transferred to them and their counter-parties in order to prop up their business, while several of its key competitors were allowed to die.
The second-most profitable quarter it ever had in its history was the third quarter of 2009.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a6ItnK32Cl6Y
Oct. 16 (Bloomberg) -- The U.S. Securities and Exchange Commission named Adam Storch, a 29-year-old from Goldman Sachs Group Inc.’s business intelligence unit, as the enforcement division’s first chief operating officer.
Storch, who joined the SEC Oct. 13, was named to the newly created post of managing executive in the enforcement unit, charged with making the division more efficient, the SEC said today in a statement. At New York-based Goldman Sachs, he had worked since 2004 in a unit at that reviewed contracts and transactions for signs of fraud.
“Adam’s skill in technology systems, workflow process, and project management will greatly benefit the division,” SEC enforcement chief Robert Khuzami said in the statement. “He will help to make us more efficient and nimble and permit us to put more of our investigators on the front lines.”