Who doesn’t love the smell of fried Vampire Squid in the morning? The Crips of American finance were dissed for real in the Wall Street Journal but the Bloods at JP Morgan seem to have gotten off very lightly, without a hint of their manipulation to cover silver shorts. It’s all daytime drama, nobody’s expected to do any time because the layout of the crime is there in black and white and all points back to government’s approval of the entire fraudulent structure on Wall Street.
There’s an incredible amount of material to implicate everyone in the daily crimes and credible analysis that could and should lead to prosecutions abounds but there’s a very good reason for letting obvious crooks get off. Nobody wants to be historically marked as the bad guy who pulled the plug on the good old US of A. Well-oiled monopolies insinuating themselves into every facet of human life was bound to end with a clash of civilisation and “the machine” but there are those who would still have us believe they are gloriously omnipotent.
Greece was set up to fail by Goldman and they’ve done it spectacularly with their team still on site to shepherd illicit profits to the international banks. The head of the IMF got embarrassed from imminent exposure to their role in the scam and protested a little bit too loudly, apparently. The elite illusion of full control when Spain is so enthusiastically erupting to knock down another of their dominoes can only be put down to a bunker mentality from people who’ve probably already invested in a bunker. Whether they know ‘something‘ we don’t and are already living in one to escape Fukushima’s lethal fallout is another matter altogether.
In yet another confirmation that Goldman’s multi-million dollar push to advertise its humanitarian image on various websites has been a colossal failure, the WSJ has just broken news that the firm will shortly be the proud recipient of yet another barrage of legal inquiry in the form of subpoenas relating to its mortgage-related business, only this time not from the SEC but from criminal prosecutors. This stems from Carl Levin’s massive 639 page report which referred the firm to the justice department (and whose findings were summarized best by Matt Taibbi), an escalation which could rekindle not only a civil case against the squid, but also potentially force the new District Attorney to finally lob a couple of criminal indictments here and there, thus guaranteeing that GS stock is about to be pulverized (and cementing those plans to finally MBO the company, as the Fed’s balance sheet has largely served its purpose). The WSJ clarifies: “Subpoenas don’t necessarily mean criminal charges against Goldman or individuals… Read more
UPDATE 21 May:
If you haven’t been paying attention, Goldman Sachs shares have been in freefall.
They lost over 3% today amid a slew of headlines about imminent subpoenas related to Blankfein, the firm’s activities during the crisis, and just generally for being the much-reviled Goldman Sachs.
The stock has lost over 10% in just the last week since Matt Taibbi wrote his latest takedown, costing the firm over $8 billion in market cap.