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Goldman Sachs

Institutional Complicity: Parallels to Wall Street Corruption

With the accumulated body of scientifically vetted evidence pointing squarely at the reality of incendiary and explosive devices in the WTC complex, apologists for the official theory have forcefully resorted to the absence of (acceptable) whistle-blowers as a reason to dismiss the calls for a new investigation. And it must at least give one pause. Why haven't more people come forward with explicit details?

We may find insight into that question by taking a closer look at the intricate web of deals that allowed the most massive defrauding of the public in recorded history. The specifics are complicated, but a synopsis is useful:

Mortgage companies like Countrywide and Freddie & Fannie, with financing from a handful of household names of the banking world, sold adjustable rate (subprime) mortgages to millions of Americans who previously didn't even come close to qualifying for a home loan.

Arrest Over Software Illuminates Wall St. Secret

August 24, 2009
Arrest Over Software Illuminates Wall St. Secret
By ALEX BERENSON

Flying home to New Jersey from Chicago after the first two days at his new job, Sergey Aleynikov was prepared for the usual inconveniences: a bumpy ride, a late arrival.

He was not expecting Special Agent Michael G. McSwain of the F.B.I.

At 9:20 p.m. on July 3, Mr. McSwain arrested Mr. Aleynikov, 39, at Newark Liberty Airport, accusing him of stealing software code from Goldman Sachs, his old employer. At a bail hearing three days later, a federal prosecutor asked that Mr. Aleynikov be held without bond because the code could be used to “unfairly manipulate” stock prices.

This case is still in its earliest stages, and some lawyers question whether Mr. Aleynikov should be prosecuted criminally, or whether a civil suit may be more appropriate. But the charges, along with civil cases in Chicago and New York involving other Wall Street firms, offer a glimpse into the turbulent world of ultrafast computerized stock trading.

The Great American Bubble Machine

The Great American Bubble Machine
Matt Taibbi on how Goldman Sachs has engineered every major market manipulation since the Great Depression

Posted Jul 02, 2009 8:38 AM

In Rolling Stone Issue 1082-83, Matt Taibbi takes on "the Wall Street Bubble Mafia" — investment bank Goldman Sachs. The piece has generated controversy, with Goldman Sachs firing back that Taibbi's piece is "an hysterical compilation of conspiracy theories" and a spokesman adding, "We reject the assertion that we are inflators of bubbles and profiteers in busts, and we are painfully conscious of the importance in being a force for good." Taibbi shot back: "Goldman has its alumni pushing its views from the pulpit of the U.S. Treasury, the NYSE, the World Bank, and numerous other important posts; it also has former players fronting major TV shows. They have the ear of the president if they want it." Here, now, are excerpts from Matt Taibbi's piece and video of Taibbi exploring the key issues [please note the videos are available at the source].