Comments on: How Goldman Sachs Made Tens Of Billions Of Dollars From The Economic Collapse Of America In Four Easy Steps http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps Are You Prepared For The Coming Economic Collapse And The Next Great Depression? Tue, 22 May 2012 02:35:37 +0000 hourly 1 By: joe http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-109284 joe Sat, 11 Feb 2012 05:58:46 +0000 http://theeconomiccollapseblog.com/?p=41#comment-109284 Learn to grow food? Learn to steal food? Learn to be non corupt. Live by the sword die by the sword. So live the material life and the material will kill you. Be spiritual and turn your back on things of the flesh. Learn to grow food? Learn to steal food? Learn to be non corupt. Live by the sword die by the sword. So live the material life and the material will kill you. Be spiritual and turn your back on things of the flesh.

]]> By: Nic http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-4519 Nic Tue, 08 Jun 2010 14:43:20 +0000 http://theeconomiccollapseblog.com/?p=41#comment-4519 I only need to name 1 family that has been sitting behind this and many more for many years now: The Rothschilds. Their immediate partners in crime: Rockefellers, Du Ponts, Ruperts and the Oppenheimers. Go look where these names pop up throughout the last 200 years and what roles they played in subjects ranging from World Wars, Wall Street Crash, GM Foods, Pharmaceutical Industry, Banking, Oil etc. I only need to name 1 family that has been sitting behind this and many more for many years now: The Rothschilds.

Their immediate partners in crime: Rockefellers, Du Ponts, Ruperts and the Oppenheimers.

Go look where these names pop up throughout the last 200 years and what roles they played in subjects ranging from World Wars, Wall Street Crash, GM Foods, Pharmaceutical Industry, Banking, Oil etc.

]]> By: Finance Complaints http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-2249 Finance Complaints Mon, 19 Apr 2010 09:24:27 +0000 http://theeconomiccollapseblog.com/?p=41#comment-2249 Its incredible that such a large institution like Goldman Sachs had to stoop so low and sell an investment product to consumers offering them high investment returns while the company itself was betting for the product to go bust and make money! Great way to bring value Its incredible that such a large institution like Goldman Sachs had to stoop so low and sell an investment product to consumers offering them high investment returns while the company itself was betting for the product to go bust and make money! Great way to bring value

]]> By: challie http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-153 challie Mon, 18 Jan 2010 15:20:03 +0000 http://theeconomiccollapseblog.com/?p=41#comment-153 The sophistication of stealing has become so dressed in finery that the theft cannot be detected. The sophistication of stealing has become so dressed in finery that the theft cannot be detected.

]]> By: theonlyidiotintheroom http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-106 theonlyidiotintheroom Wed, 13 Jan 2010 01:37:29 +0000 http://theeconomiccollapseblog.com/?p=41#comment-106 Problem-reaction-solution..Perfect!! Problem-reaction-solution..Perfect!!

]]> By: John http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-100 John Tue, 12 Jan 2010 14:29:58 +0000 http://theeconomiccollapseblog.com/?p=41#comment-100 Rose is your typical dolt that votes against their best interests. Rose doesn't understand how powerful the GS forces are and just how much destruction they cause in the name of free market profits. Go back to sleep Rose. Don't attempt to keep up with the pack. Rose is your typical dolt that votes against their best interests. Rose doesn’t understand how powerful the GS forces are and just how much destruction they cause in the name of free market profits. Go back to sleep Rose. Don’t attempt to keep up with the pack.

]]> By: taxee http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-87 taxee Mon, 11 Jan 2010 14:45:06 +0000 http://theeconomiccollapseblog.com/?p=41#comment-87 If we return to taxing extravagant income extravagantly we make it unprofitable to steal. Tax evasion is punishable by hard time. That is how you stop the mafia and pay off the debt. If we return to taxing extravagant income extravagantly we make it unprofitable to steal. Tax evasion is punishable by hard time. That is how you stop the mafia and pay off the debt.

]]> By: Richard B http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-64 Richard B Tue, 05 Jan 2010 23:24:14 +0000 http://theeconomiccollapseblog.com/?p=41#comment-64 What do you mean "TENS OF BILLIONS" ? Goldman was also provided with status as a Trading Bank. Under"Fiat Banking Rules" this provision allowed them to lend out (to themselves ?) and charge interest on TEN TIMES THE AMOUNT OF THEIR CASH HOLDINGS - A MAGNITUDE OF TEN. This has resulted in potentially hundreds of billions of dollars of potential 'future gains'. Unless it is your intent to purposely mislead your readers, I think you need to give more thought to your your numbers. What do you mean “TENS OF BILLIONS” ?

Goldman was also provided with status as a Trading Bank. Under”Fiat Banking Rules” this provision allowed them to lend out (to themselves ?) and charge interest on TEN TIMES THE AMOUNT OF THEIR CASH HOLDINGS – A MAGNITUDE OF TEN. This has resulted in potentially hundreds of billions of dollars of potential ‘future gains’. Unless it is your intent to purposely mislead your readers, I think you need to give more thought to your your numbers.

]]> By: PETER S http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-63 PETER S Tue, 05 Jan 2010 22:43:59 +0000 http://theeconomiccollapseblog.com/?p=41#comment-63 Why investigate Goldman Sachs at all? The insurance they took out rightfully belongs to the victims who bought their products. I think they did the decent thing in insuring themselves. They just need to be reminded that insuring yourself when you don't stand to make a loss is a corrupt use of insurance. Why investigate Goldman Sachs at all? The insurance they took out rightfully belongs to the victims who bought their products. I think they did the decent thing in insuring themselves. They just need to be reminded that insuring yourself when you don’t stand to make a loss is a corrupt use of insurance.

]]> By: Mesohony4u http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-61 Mesohony4u Tue, 05 Jan 2010 04:35:03 +0000 http://theeconomiccollapseblog.com/?p=41#comment-61 I agree with much of this argument. The recent financial collapse involved many parties: subprime borrowers, lenders, securitizers, servicers, credit rating agencies, investors, and governments. When investment banks like Goldman Sachs market financial securities like credit based securities and derivatives they should be required to provide accurate and comprehensive information to their investor clients. However, investor clients must exercise responsibility using proper research, analysis, and judgement when making investment decisions. If the investment bank “short sells” the very same securities it markets to investor clients and benefits from the decline their value, then such outcomes involve questionable ethical behavior. Short selling is not unethical market behavior and assumes high risk for the short seller because if the price of the short sold product increases, then the short seller incurs the loss. If the risks of such investment products were not properly disclosed to investor clients; the investment bank benefits from the decline in their value; and the investment bank knew such products had risks that could cause harm to the investor clients then such activities could demonstrate fraud, deception, or misrepresentation depending on opinion and law. However, the U.S. federal government performed the most insidious actions during this financial crisis. By providing a myriad of assistances including direct payments, borrowing privileges, and guarantees using public funds, the financial institutions like Goldman Sachs enormously benefited though they were largely responsible for exacerbating if not creating this financial crisis. When economic conditions were favorable, they assumed greater and even excessive risks to maximize profits and compensation for themselves. But when economic conditions became less favorable, they recieved incredible assistance from the government using public funds when responsible economic actors did not cause or propogate such crisis and did not recieve the same level of assistance and therefore suffered. Furthermore, such assistance creates at least two additional problems for the economy. Since the federal government assistance to financial institutions involved borrowed funds, these funds will require higher level repayment due to interest costs. Though Goldman Sachs and some financial institutions repaid financial assistance to the federal government, others did not or most likely will not including AIG, GMAC, GM, Fannie Mae, Freddie Mac, etc. Such losses will be compensated for by the taxpayer resulting in social or foregone loss/cost. Some argue that if the government did not intervene to save such entities then the financial and economic system would be worse, but they provide no evidence to support such an argument. It is true, however, many individuals lost their jobs and businesses failed. If the financial system’s actors failed then they would be in the same condition as those individuals and businesses. The U.S. economy suffered through more difficult hardship in the Great Depression Era 1929-1940 but still managed to proceed and become the most successful economy in the world. This economic recession most likely would not have become as severe as the Great Depression assuming very low interest rates to stimulate increased investment and spending and bank deposit insurance to prevent acute withdrawal of funds resulting in financial collapse. The US recession in 1929-1930 became the Great Depression because of inadequate assurance of banking system deposits and improper monetary policies. In addition, this recession will not be as severe as the Great Depression because of the general higher standard of living in 2000s and beyond compared to the 1930s. The second problem is in the future. By providing failed economic actors with assistance, they develop a sense of entitlement, arrogance, denial, and riskier behaviors. Financial institutions like Goldman Sachs will most probably not learn from their mistakes that led to this financial crisis and will continue to assume greater risks in the future requiring unfortunate and sympathetic actors in government to provide assistance to prevent their failure. This should not be tolerated or supported by the public in general because it rewards failure and productive successful economies should reward those who create and add value and do not undermine or destroy it. To help prevent such a crisis from reocurrence, better risk controls must be formulated and implemented by the financial system and regulators including but not exclusively the following: 1. Separate investment banks from commercial banks to prevent the aggregation of risk that increases the risk of systemic failure. Investment banks should not be subject to the following suggested regulations (see below 2 and 3) because they assume greater risks and do not maintain deposits like commercial banks. In addition, if investment banks do fail, they will not recieve any financial assistance from the public through any government entity. 2. Maintain or increase capital requirements for commercial banks to 10 percent. This provides some limitation on the amount of borrowed capital to reduce credit risk in the financial system but is not such a difficult requirement resulting in less lending. 3. Significantly increase FDIC insurance premiums for commercial banks based on the level of risk in the assets of a bank(s)to provide sufficient funds to indemnify individuals who lose funds in failed banks. This action also prevents large acute withdrawals of funds from the financial system and reduce the amount of risks banks assume in lending and investing. 4. Create and monitor exchange(s) for derivatives and require 100 percent margin or collateral for the trading participants to eliminate or at least significantly reduce counterparty/default risk in the financial system. 5. Withdraw and recover as much public assistance provided to the financial system as soon as possible. I agree with much of this argument. The recent financial collapse involved many parties: subprime borrowers, lenders, securitizers, servicers, credit rating agencies, investors, and governments.

When investment banks like Goldman Sachs market financial securities like credit based securities and derivatives they should be required to provide accurate and comprehensive information to their investor clients. However, investor clients must exercise responsibility using proper research, analysis, and judgement when making investment decisions.

If the investment bank “short sells” the very same securities it markets to investor clients and benefits from the decline their value, then such outcomes involve questionable ethical behavior. Short selling is not unethical market behavior and assumes high risk for the short seller because if the price of the short sold product increases, then the short seller incurs the loss. If the risks of such investment products were not properly disclosed to investor clients; the investment bank benefits from the decline in their value; and the investment bank knew such products had risks that could cause harm to the investor clients then such activities could demonstrate fraud, deception, or misrepresentation depending on opinion and law.

However, the U.S. federal government performed the most insidious actions during this financial crisis. By providing a myriad of assistances including direct payments, borrowing privileges, and guarantees using public funds, the financial institutions like Goldman Sachs enormously benefited though they were largely responsible for exacerbating if not creating this financial crisis. When economic conditions were favorable, they assumed greater and even excessive risks to maximize profits and compensation for themselves. But when economic conditions became less favorable, they recieved incredible assistance from the government using public funds when responsible economic actors did not cause or propogate such crisis and did not recieve the same level of assistance and therefore suffered.

Furthermore, such assistance creates at least two additional problems for the economy. Since the federal government assistance to financial institutions involved borrowed funds, these funds will require higher level repayment due to interest costs. Though Goldman Sachs and some financial institutions repaid financial assistance to the federal government, others did not or most likely will not including AIG, GMAC, GM, Fannie Mae, Freddie Mac, etc. Such losses will be compensated for by the taxpayer resulting in social or foregone loss/cost.

Some argue that if the government did not intervene to save such entities then the financial and economic system would be worse, but they provide no evidence to support such an argument. It is true, however, many individuals lost their jobs and businesses failed. If the financial system’s actors failed then they would be in the same condition as those individuals and businesses. The U.S. economy suffered through more difficult hardship in the Great Depression Era 1929-1940 but still managed to proceed and become the most successful economy in the world. This economic recession most likely would not have become as severe as the Great Depression assuming very low interest rates to stimulate increased investment and spending and bank deposit insurance to prevent acute withdrawal of funds resulting in financial collapse. The US recession in 1929-1930 became the Great Depression because of inadequate assurance of banking system deposits and improper monetary policies. In addition, this recession will not be as severe as the Great Depression because of the general higher standard of living in 2000s and beyond compared to the 1930s.

The second problem is in the future. By providing failed economic actors with assistance, they develop a sense of entitlement, arrogance, denial, and riskier behaviors. Financial institutions like Goldman Sachs will most probably not learn from their mistakes that led to this financial crisis and will continue to assume greater risks in the future requiring unfortunate and sympathetic actors in government to provide assistance to prevent their failure. This should not be tolerated or supported by the public in general because it rewards failure and productive successful economies should reward those who create and add value and do not undermine or destroy it.

To help prevent such a crisis from reocurrence, better risk controls must be formulated and implemented by the financial system and regulators including but not exclusively the following:

1. Separate investment banks from commercial banks to prevent the aggregation of risk that increases the risk of systemic failure. Investment banks should not be subject to the following suggested regulations (see below 2 and 3) because they assume greater risks and do not maintain deposits like commercial banks. In addition, if investment banks do fail, they will not recieve any financial assistance from the public through any government entity.
2. Maintain or increase capital requirements for commercial banks to 10 percent. This provides some limitation on the amount of borrowed capital to reduce credit risk in the financial system but is not such a difficult requirement resulting in less lending.
3. Significantly increase FDIC insurance premiums for commercial banks based on the level of risk in the assets of a bank(s)to provide sufficient funds to indemnify individuals who lose funds in failed banks. This action also prevents large acute withdrawals of funds from the financial system and reduce the amount of risks banks assume in lending and investing.
4. Create and monitor exchange(s) for derivatives and require 100 percent margin or collateral for the trading participants to eliminate or at least significantly reduce counterparty/default risk in the financial system.
5. Withdraw and recover as much public assistance provided to the financial system as soon as possible.

]]> By: Dave Lowe http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-60 Dave Lowe Mon, 04 Jan 2010 23:52:55 +0000 http://theeconomiccollapseblog.com/?p=41#comment-60 Let's keep it simple. When you boil it all down, Fiat Money and Fractional Reserve banking are at the root of all this. Let’s keep it simple. When you boil it all down, Fiat Money and Fractional Reserve banking are at the root of all this.

]]> By: ian http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-58 ian Mon, 04 Jan 2010 19:37:49 +0000 http://theeconomiccollapseblog.com/?p=41#comment-58 Oh, just bottom line it. Goldman BOUGHT THE GOVERNMENT and then acted accordingly. It was the most profitable investment available. And it worked. Current policy is proof. Oh, just bottom line it. Goldman BOUGHT THE GOVERNMENT and then acted accordingly. It was the most profitable investment available.

And it worked. Current policy is proof.

]]> By: How Goldman Sachs Made Tens of Billions of Dollars From Economic Collapse : Kevin Trudeau Show http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-57 How Goldman Sachs Made Tens of Billions of Dollars From Economic Collapse : Kevin Trudeau Show Mon, 04 Jan 2010 17:21:17 +0000 http://theeconomiccollapseblog.com/?p=41#comment-57 [...] To continue reading this report, click here. [...] [...] To continue reading this report, click here. [...]

]]> By: Randy http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-56 Randy Mon, 04 Jan 2010 15:14:23 +0000 http://theeconomiccollapseblog.com/?p=41#comment-56 This is silly, the real problem is that people aren't calling an ace an ace, a spade a spade. Goldman is not a *bona fide* investment bank anymore. Investment banks specialize in underwriting securities vis-a-vis M&As. In fact, as a percentage of their total revenue, investment banking (IB) has been on a decline since the early 00s. And even after the collapse of Bear Stearns and Lehman, the IB revenue didn't immediately spike up in Goldman's coffers as one would expect. What Goldman is is a hedge fund which can take any position (short or long) it wants on any security, bond, currency &/o derivative, futures. The problem is that the hedge fund half commands 80+% of its revenue and thus, influences the IB research half to talk-up-the-markets. And in general, a leveraged hedge fund can make a fortune especially with inside information on market tops and bottoms. This is silly, the real problem is that people aren’t calling an ace an ace, a spade a spade. Goldman is not a *bona fide* investment bank anymore. Investment banks specialize in underwriting securities vis-a-vis M&As. In fact, as a percentage of their total revenue, investment banking (IB) has been on a decline since the early 00s. And even after the collapse of Bear Stearns and Lehman, the IB revenue didn’t immediately spike up in Goldman’s coffers as one would expect. What Goldman is is a hedge fund which can take any position (short or long) it wants on any security, bond, currency &/o derivative, futures. The problem is that the hedge fund half commands 80+% of its revenue and thus, influences the IB research half to talk-up-the-markets. And in general, a leveraged hedge fund can make a fortune especially with inside information on market tops and bottoms.

]]> By: Voir Dire http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-55 Voir Dire Mon, 04 Jan 2010 02:33:02 +0000 http://theeconomiccollapseblog.com/?p=41#comment-55 Thank you, blogmeister, for an extraordinary analysis/blog. I applaud you, Sir, as you are a patriot extraordinaire. The gloves continue to come off by those in the lamestream media (every aspect of the entire Western media resides in the hands of these same genetic kinsmen who've used their monetary machinations/manipulations to buy/control it ALL) who've had a nauseating bellyful of the blatant theft by these timeless Vampires. Modern-day muckrakers, who've quite possibly single-handedly restored respectability to the profession of objective journalism, are keeping a vigilant eye on our federal Leviathan and the dual-agent parasites infesting it. Do see the McClatchy paper's outstanding series on Goldman's epic fleecing: How Goldman secretly bet on the U.S. housing crash http://www.mcclatchydc.com/100/story/77791.html For the feds, some Wall Street firms are too big — to punish http://www.mcclatchydc.com/227/story/80277.html?storylink=omni_popular Why haven't any Wall Street tycoons been sent to the slammer? http://www.mcclatchydc.com/336/story/75720.html How Moody's sold its ratings - and sold out investors http://www.mcclatchydc.com/staff/kevin_hall/story/77244.html Why did Goldman stop scrutinizing loans it bought? http://www.mcclatchydc.com/homepage/story/77788.html Goldman Takes on a New Role - Taking People's Homes http://www.mcclatchydc.com/homepage/story/77841.html For more damning indictments from the McClatchy stories, you can find those and other nuggets from the first link I posted including: Story | Goldman takes on new role: taking away people's homes Story | Goldman left foreign investors holding the subprime bag Story | Why did blue-chip Goldman take a walk on subprime's wild side? Story | Why did Goldman stop scrutinizing loans it bought? Story | Mortgage crisis shows why financial regulation is needed Story | How Moody's sold its ratings - and sold out investors Graphic | Goldman's revolving door with government Video | Goldman Sachs' secret bets Video | One couple stands up to Goldman Sachs Video | McClatchy's Goldman Sachs probe Video | Goldman's changing role in subprime mortgages On the Web | State-by-state data on troubled mortgages On the Web | See our complete Goldman report Wide Awake & Fooled No More, S. Thank you, blogmeister, for an extraordinary analysis/blog. I applaud you, Sir, as you are a patriot extraordinaire.

The gloves continue to come off by those in the lamestream media (every aspect of the entire Western media resides in the hands of these same genetic kinsmen who’ve used their monetary machinations/manipulations to buy/control it ALL) who’ve had a nauseating bellyful of the blatant theft by these timeless Vampires. Modern-day muckrakers, who’ve quite possibly single-handedly restored respectability to the profession of objective journalism, are keeping a vigilant eye on our federal Leviathan and the dual-agent parasites infesting it. Do see the McClatchy paper’s outstanding series on Goldman’s epic fleecing:

How Goldman secretly bet on the U.S. housing crash
http://www.mcclatchydc.com/100/story/77791.html

For the feds, some Wall Street firms are too big — to punish
http://www.mcclatchydc.com/227/story/80277.html?storylink=omni_popular

Why haven’t any Wall Street tycoons been sent to the slammer?
http://www.mcclatchydc.com/336/story/75720.html

How Moody’s sold its ratings – and sold out investors

http://www.mcclatchydc.com/staff/kevin_hall/story/77244.html

Why did Goldman stop scrutinizing loans it bought?

http://www.mcclatchydc.com/homepage/story/77788.html

Goldman Takes on a New Role – Taking People’s Homes

http://www.mcclatchydc.com/homepage/story/77841.html

For more damning indictments from the McClatchy stories, you can find those and other nuggets from the first link I posted including:

Story | Goldman takes on new role: taking away people’s homes
Story | Goldman left foreign investors holding the subprime bag
Story | Why did blue-chip Goldman take a walk on subprime’s wild side?
Story | Why did Goldman stop scrutinizing loans it bought?
Story | Mortgage crisis shows why financial regulation is needed
Story | How Moody’s sold its ratings – and sold out investors
Graphic | Goldman’s revolving door with government
Video | Goldman Sachs’ secret bets
Video | One couple stands up to Goldman Sachs
Video | McClatchy’s Goldman Sachs probe
Video | Goldman’s changing role in subprime mortgages
On the Web | State-by-state data on troubled mortgages
On the Web | See our complete Goldman report

Wide Awake & Fooled No More,

S.

]]> By: JackieG http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-54 JackieG Sun, 03 Jan 2010 20:58:38 +0000 http://theeconomiccollapseblog.com/?p=41#comment-54 Its relatively easy to screw up the likes of Goldman Sachs. It can be done one a unique individual basis. Just offer to pay the bank your mortgage loan is with. Just seek the banks assurance they will do a direct and immediate exchange for payment of the original instrument of indebtedness in its original unadulterated form. The bank is put in a spot known as between a rock and a hard spot. The bank will refuse to accept your payment. The bank will then turn to Goldman Sachs and demand reimbursement for their loss. You get to keep your home with no one to make payments to. Its relatively easy to screw up the likes of Goldman Sachs.
It can be done one a unique individual basis.
Just offer to pay the bank your mortgage loan is with.
Just seek the banks assurance they will do a direct and immediate exchange for payment of the original instrument of indebtedness in its original unadulterated form.
The bank is put in a spot known as between a rock and a hard spot.
The bank will refuse to accept your payment.
The bank will then turn to Goldman Sachs and demand reimbursement for their loss.
You get to keep your home with no one to make payments to.

]]> By: Paul Blake http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-53 Paul Blake Sun, 03 Jan 2010 16:13:51 +0000 http://theeconomiccollapseblog.com/?p=41#comment-53 "WALL STREET CONTROLS AMERICA", "I'm shocked" as Claude Raines put it in "Casablanca"..... “WALL STREET CONTROLS AMERICA”, “I’m shocked” as Claude Raines put it in “Casablanca”…..

]]> By: Rainey http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-52 Rainey Sun, 03 Jan 2010 08:04:51 +0000 http://theeconomiccollapseblog.com/?p=41#comment-52 Wasn't it Lenin who said, 'capitalists will sell us the rope we hang them with.' In the case of Goldman and financialization of the entire US economy courtesy of various movers and shakers .. goes back to the time of Nixon really when he took us off gold cause the world was beating on our door claiming gold rather than dollars. BUT I digress, trying to fight the Vietnam War AND paying for LBJ's elaborate 'war on poverty' helped push the US system over the edge leading to double digit inflation and the powers that be making policy particularly under Carter. Deregulation didn't begin under Reagan..in fact it went into high gear under Carter. One of the worst laws ever was passed in 1979, The Monetary Deregulation Act...all bets were off. We went from a pretty well balanced economy to one based on bubbles, corruption, cronyism, a horrific version of 'free trade,' the end of engineering America, actually making 'stuff' to sell to ourselves and the world, as foreign owners were allowed to buy out American companies, often run them into the ground while selling off lucrative parts. We saw Paul Volcker tell the world in 79 that the American standard of living would have to decrease so the rest of the world could increase. BOY did he every accomplish that deal. Now we have multibillion dollar trade deficit, a country that went from a producer saver nation to a maxed out, worn out, two jobs for two people, taxed and paying fees up the eye balls, regulated to death, while small and medium companies struggle with high taxes and over regulations .. and the BIG boys get off scot free in cahoots with BIG government. Goldman's crony capitalism should come as no surprise, as profit became the ONLY value ahead of country or countrymen. The chickens will come home to roost..sooner or later Goldman and their minions in government, on K-Street will pay the price of betrayal of the nation-state called America, ethical capitalism, in fact the chickens are already coming home to roost..in China. A small Chinese company just refused to pay up $80million or some such to Goldman's subsidiary in China..and the Chinese govt. is backing them up. Henry Paulson was known in most circles as China's best representative in the US. You could add most politicians to that list from BOTH parties and their husbands, wives or close associates. American's wages and salaries have been stagnant since 1979, from the time Volcker stated the desired policy of the powers that be..Americans became credit junkies cause that is HOW their standard of living, based on debt, rose at all. Goldman and JP Morgan, the central banks, AIG, Bank of America, Morgan Stanley, all the rest gave us casino economy and then bet against it and us. BUT the politicians who benefited...Obama received nearly a million dollars from Goldman employees, and since 1989 Christopher Dodd, chairman of the Senate Banking, received $43 million. Barney Frank, chairman of the House Financial Services Committee, got $7.8 million. The world and the US system changed decades ago, and not for the better. The powers that be that created the system didn't give us free market capitalism, they gave us corporate state fascism as BIG govt. and BIG banks or commercial interests shacked up and screwed us. It will come crashing down, and that maybe why Goldman execs are advised to carry firearms and not gather in groups of 12 or more. Thing is those in the US congress and senate should be just as worried...they were in a position to stop the rape and pillage of the US economic and political system but a bunch of souless unethical sharks who thought they could get away with what is arguably the biggest destruction of the US system in our history. Wasn’t it Lenin who said, ‘capitalists will sell us the rope we hang them with.’ In the case of Goldman and financialization of the entire US economy courtesy of various movers and shakers .. goes back to the time of Nixon really when he took us off gold cause the world was beating on our door claiming gold rather than dollars. BUT I digress, trying to fight the Vietnam War AND paying for LBJ’s elaborate ‘war on poverty’ helped push the US system over the edge leading to double digit inflation and the powers that be making policy particularly under Carter. Deregulation didn’t begin under Reagan..in fact it went into high gear under Carter. One of the worst laws ever was passed in 1979, The Monetary Deregulation Act…all bets were off. We went from a pretty well balanced economy to one based on bubbles, corruption, cronyism, a horrific version of ‘free trade,’ the end of engineering America, actually making ‘stuff’ to sell to ourselves and the world, as foreign owners were allowed to buy out American companies, often run them into the ground while selling off lucrative parts. We saw Paul Volcker tell the world in 79 that the American standard of living would have to decrease so the rest of the world could increase. BOY did he every accomplish that deal. Now we have multibillion dollar trade deficit, a country that went from a producer saver nation to a maxed out, worn out, two jobs for two people, taxed and paying fees up the eye balls, regulated to death, while small and medium companies struggle with high taxes and over regulations .. and the BIG boys get off scot free in cahoots with BIG government. Goldman’s crony capitalism should come as no surprise, as profit became the ONLY value ahead of country or countrymen. The chickens will come home to roost..sooner or later Goldman and their minions in government, on K-Street will pay the price of betrayal of the nation-state called America, ethical capitalism, in fact the chickens are already coming home to roost..in China. A small Chinese company just refused to pay up $80million or some such to Goldman’s subsidiary in China..and the Chinese govt. is backing them up. Henry Paulson was known in most circles as China’s best representative in the US. You could add most politicians to that list from BOTH parties and their husbands, wives or close associates. American’s wages and salaries have been stagnant since 1979, from the time Volcker stated the desired policy of the powers that be..Americans became credit junkies cause that is HOW their standard of living, based on debt, rose at all. Goldman and JP Morgan, the central banks, AIG, Bank of America, Morgan Stanley, all the rest gave us casino economy and then bet against it and us. BUT the politicians who benefited…Obama received nearly a million dollars from Goldman employees, and since 1989 Christopher Dodd, chairman of the Senate Banking, received $43 million. Barney Frank, chairman of the House Financial Services Committee, got $7.8 million. The world and the US system changed decades ago, and not for the better. The powers that be that created the system didn’t give us free market capitalism, they gave us corporate state fascism as BIG govt. and BIG banks or commercial interests shacked up and screwed us. It will come crashing down, and that maybe why Goldman execs are advised to carry firearms and not gather in groups of 12 or more. Thing is those in the US congress and senate should be just as worried…they were in a position to stop the rape and pillage of the US economic and political system but a bunch of souless unethical sharks who thought they could get away with what is arguably the biggest destruction of the US system in our history.

]]> By: How Goldman Sachs Made Tens Of Billions From The Economic Collapse Of America In Four Easy Steps http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-51 How Goldman Sachs Made Tens Of Billions From The Economic Collapse Of America In Four Easy Steps Sat, 02 Jan 2010 20:14:07 +0000 http://theeconomiccollapseblog.com/?p=41#comment-51 [...] Source: The Economic Collapse [...] [...] Source: The Economic Collapse [...]

]]> By: Marked http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps/comment-page-1#comment-49 Marked Sat, 02 Jan 2010 19:26:47 +0000 http://theeconomiccollapseblog.com/?p=41#comment-49 So how will people avoid the mark and pay for goods and serrvices? So how will people avoid the mark and pay for goods and serrvices?

]]>