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Forum Post: People, Stop Blaming President Obama for Goldmans Escape from Justice

Posted 2 years ago on Aug. 16, 2012, 7 p.m. EST by matoinyanawacis (157)
This content is user submitted and not an official statement

Don't know... you think the possibility exists that Goldman and the others have such really high paid lawyers available to them, that those same high priced lawyers might be capable of "legally" exonerating their High Paying Clients with special laws written just for them that are present on the law books, and that President Obama and the Justice Department don't have a leg to stand on because these special "Legal Loopholes" exist solely to incapacitate legal repercussions... Just a thought. Far as I've heard, unless an actual breaking of the law can be "PROVEN", it is worthless to bring a charge. Not that President Obama hasn't tried, its just that Goldman and others, shall we say, prepared years in advance, protections against prosecution for all but the most flagrant of transgressions.. But by all means, tell the President, forget about the rule of law, Your the President. Just go arrest them and put them in chains, never mind that you can't "PROVE" the crime for which they are culpable, seeings how I'm so sure the criminals went way out of their way to leave EVIDENCE of their crimes laying around just for their indictments. Live in reality people. The only way to stop criminals is to make sure there are laws in place that aren't full of holes for the rich to exploit... and that is what President Obama has been fighting for. A little hard to do though when he is obstructed at every turn, opposed at every attempt, and denied every request. Justice can only be served when all Americans are involved in the creation of those laws. Today the only laws besides the ones President Obama signed, have been written solely by the rich and for the rich. And the only way to do that is to stop being a pawn of the rich, stop listening to the lies that spout in their attack ads, find out the truth for ourselves, and then FIND the right people to represent ALL AMERICANS once again and get the idea of democracy and justice back on track. Nobody said it won't be hard work, but any American who allows the rich to convince them that the rich have the poors interest at heart, are not only fools, but are also traitors, because when they vote for the rich mans desires, they are also committing their fellow Americans to that despotic tyrants desires. Find the Truth, don't just accept the lies. That's how Germany got into trouble in 1933.... they listened to the Nazi Party... and if you have a decent enough education, I'm sure you're aware of how that National Party Takeover went.... That's right it lead to a World War. Learn people, there's not much time left to get it right. If Romney wins... Be prepared for an avalanche of laws that will benefit the rich, and only the rich.. America will become a Feudal Society, if not an outright Facists Dictatorship... I guarantee you laws will be written to outlaw all freedoms except those for the rich. Your choice.. If you don't vote, or don't vote for President Obama, then prepare for a savage attack on all your constitutional rights...Just witness the war on women's rights all for a few ideological morons beliefs that they have the right to dictate a woman's right to choose. Hetchetuwelo

29 Comments

29 Comments


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[-] 3 points by VQkag2 (16478) 2 years ago

You are correct. I believe the problem lies in weak fin regulations written, & pushed by republicans and I'm sure passed with always some dems.

Elect progressives, Vote out anti fin reform republicans

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[-] 2 points by ericweiss (575) 2 years ago

But blaming Obama - it just feels good!.
hitler had the Jews
sunnis have shiites
crusaders had arabs
blaming Obama - it just feels good!.
and it is so much easier than thinking

[-] 1 points by matoinyanawacis (157) 2 years ago

So your argument is that the non thinkers are the true bastions of evil, the ones who are always trying to dictate who gets to live or die...what's that old saying... Manifest destiny.. yep sure sounds like America to me.. same genocidal habits...just ask any Native American

[-] 1 points by SingleVoice (158) 2 years ago

Where do I start.....There are plenty of laws in place to punish these guys and Obama has NOT been fighting for us. It's just a show. Everything he and his administration including Holder do is a show and a sham.

His administration is full of previous Goldman Sachs employees. It's all cronyism to the max...

His Treasury Secretary when, as president of the New York Fed in 2008, decided to give Goldman Sachs a $30 billion interest-free loan as part of an $80 billion secret float to favored banks? Sorry, my bad: It wasn’t an interest-free loan; make that .01 percent that Goldman paid to borrow taxpayer money when ordinary folks who missed a few credit card payments in order to finance their mortgages were being slapped with interest rates of more than 25 percent.

And there was no language in the Dodd-Frank law supposedly reining in the banks that compelled the Fed to reveal the existence of this program. The Dodd-Frank bill does nothing good. It's a sham too.

And as far as bailouts, actually, Goldman wasn’t even a bank and was therefore ineligible for those massive government handouts until Geithner helped gain approval for the instant conversion of Goldman from an investment house to a commercial bank. Goldman was granted that status, and with it access to the Fed’s lending, soon after the privilege had been denied to the fellow investment bank Lehman Brothers (the $30 billion mentioned above was in addition to the $43.5 billion Goldman borrowed from other Fed programs). Although Lehman was allowed to go belly up, Geithner engineered the massive bailout of AIG, a move that turned out to be a cover for passing money to AIG’s clients, including the aforementioned Goldman Sachs. The man’s intentions were clear, even if all the secret details were not, when Obama picked him to be his point man in salvaging an economy that Geithner had done much to wreck.

Geithner’s priorities were all too obvious from his days in the Clinton administration’s Treasury Department when he worked first under former Goldman honcho Robert Rubin and then Lawrence Summers, who took six-figure speaking fees from Goldman and other banks while he was an adviser to candidate Obama. It was the recommendation of Rubin and Summers that landed Geithner the job as president of the New York Fed, where he faithfully followed the policy lead of Goldman-CEO-turned-treasury-secretary Henry Paulson under Bush. Paulsen, another previous GS exec was the one that initiated the balilouts to begin with. A New York Times headline once put it that US politics is dominated by “The Guys From ‘Government Sachs’ ”.

http://www.thenation.com/article/161054/geithner-and-goldman-thick-thieves#

And then read this: http://www.thedailybeast.com/articles/2012/08/14/why-goldman-sachs-other-wall-street-titans-are-not-being-prosecuted.html

and this: http://my.firedoglake.com/fflambeau/2010/04/27/a-list-of-goldman-sachs-people-in-the-obama-government-names-attached-to-the-giant-squids-tentacles/

And Holder himself has ties to GS...http://www.breitbart.com/Big-Government/2012/08/16/Attorney-For-Goldman-Sachs-CEO-Is-Eric-Holder-s-Best-Friend

and there's so much more...Both parties are at fault but the one in power now is the one letting these guys walk with no accountability.

What you do have correct is that we are losing our freedom and the people in charge now are stealing our rights daily and mostly without our knowledge with executive orders, and hidden in legislation, etc. Don't preach for Obama...he's as bad as the rest of them and he's surrounded himself with the very people that brought our economy to it's knees.

[-] 1 points by matoinyanawacis (157) 2 years ago

I'm glad someone knows how to research the truth and at the same time, be able to articulate it. But don't misunderstand me... I wasn't preaching for President Obama... He has some issues I have serious opposition with. My argument was that our justice system has been so rigged and adjusted to favor the rich and corporations, that even the little he did try to do was not only unsuccessful, but literally hopeless. Even the President is a prisoner of the laws that are passed by CONGRESS... and they are the ones who have designed a system that PROTECTS the crimes by the rich and corporations. My overall argument is I would rather have President Obama, who is trying to make things better for ALL AMERICANS, than Candidate Romney, who sole interest is, is to stuff his pockets with as much of America's wealth as he can. Any man who will do ANYTHING to avoid paying even 1 penny more in taxes to aid in the upkeep of his own nation simply because he wants to install a indoor car elevator in his house is someone who does not give one damn for his fellow Americans. I earn less than 30,000 a year, and I DO NOT have a problem with paying my taxes if I am assured that those taxes are payed to the programs that protect and provide for us all. Social Security, Medicare, our roads, on and on. I however do have an issue with my taxes being given to an Oil company making billions in profits, yet my taxes are given to them free of charge... for what, cleaning services for their bathroom towels. No, you may think President Obama is no different than the other despots in the Government, but I happen to believe his hands aren't as untied as you would like to believe... All through the debt debacle, he kept trying to get some kind of compromise.... HE was willing to go further to the right, TO PROTECT THE NATION... I can't say the same for the repugnacans or the rich or the corporations. The President has had to give a lot only to get NOTHING in return. Again, I am not preaching for President Obama, but I sure as hell trust him and his motives a hell of a lot more than I do Romney, Ryan or the repugnacan party's motives. If you can say different, by all means vote for them, and watch what little freedoms you do still have, disappear almost overnight with the new plutocratic laws that will churn out of congress like a candy factory. Oh and I would trust my nether region to leaf chopper more than I would trust anything coming from the lips of breitbart and his cronies. They are the agents of misinformation.

[-] 1 points by DKAtoday (25072) from Coon Rapids, MN 2 years ago

To get the wheels of justice moving - it is gonna take public outcry - in the streets - in the mail ( USPS ) and over the internet - a real firestorm of protest - the Message(?) = Prosecute the Economic Bankster Criminals - Kick them out of the White House - This Is Not And Will Not Be a Country Of Criminals.

[-] 2 points by SingleVoice (158) 2 years ago

That's what I'm trying to do...enrage people to get these crooks punished...

Let's get it done...BTW, thought you took a leave of absence. Help us get the word out to hold these guys and the administration responsible for their crimes and cronyism.

[-] 1 points by DKAtoday (25072) from Coon Rapids, MN 2 years ago

No - what I said was - that I "MAY" be leaving this forum.

I made the post to get people to consider the issues of supporting eachothers efforts to forward the OWS and all Occupy movements - to support the People and the Environment and the World. I made the post in the hopes that people would actually talk to the forum admin.

For now I am still here.

BTW - I tweeted this comment:

To get the wheels of justice moving - it is gonna take public outcry - in the streets - in the mail ( USPS ) and over the internet - a real firestorm of protest - the Message(?) = Prosecute the Economic Bankster Criminals - Kick them out of the White House - This Is Not And Will Not Be a Country Of Criminals.

BTW - think this would be a good open letter to share with the government and the Public?

[-] 0 points by VQkag2 (16478) 2 years ago

You said there are lots of laws covering these crimes. But you didn't mention any. You simply spewed accusations based on who was appointed.

I guess you have no proof? What laws.? Republicans crafted laws to protect the execs from prosecution.

Elect progressives. Vote out anti fin reform republicans

[-] 1 points by SingleVoice (158) 2 years ago

On August 9, the Justice Department dropped criminal fraud charges. Evidence the equivalent of enough firepower to sink a carrier battle group was buried and forgotten. More on what happened below.

Black's Law Dictionary says: "Fraud consists of some deceitful practice or willful device, resorted to with intent to deprive another of his right, or in some manner to do him an injury."

It includes "all acts, omissions, and concealments which involve a breach of legal or equitable duty, trust, or confidence justly reposed, and are injurious to another, or by which an undue and unconscientious advantage is taken of another."

The legal dictionary calls fraud: "A false representation of a matter of fact - whether by words or by conduct, by false or misleading allegations, or by concealment of what should have been disclosed - that deceives and is intended to deceive another so that the individual will act upon it to her or his legal injury."

Criminal and civil frauds differ by level of proof required. The former needs a "preponderance of evidence." The latter must prove intent and be "beyond a reasonable doubt."

In April 2010, the SEC filed civil, not criminal, fraud charges. Goldman and one of its vice presidents was accused of defrauding investors by misstating and omitting key facts about junk assets tied to subprime mortgages.

Huge profits were made as the housing market faced collapsed. Structured and marketed synthetic collateralized debt obligations (CDOs) paid off big. Their performance depended on subprime residential mortgage-backed securities (RMBS).

Charges involved violations of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934, and Exchange Act Rule 10b-5. The SEC sought "injunctive relief, disgorgement of profits, prejudgment interest, and financial penalties."

In April 2011, the Senate Permanent Subcommittee on Investigations released a report on how banking giants, federal regulators, and credit rating agencies conspired to crash the subprime mortgage market.

Around 40% of it discussed Goldman. It sold an alphabet soup of securitized junk. Garbage included mortgaged-backed securities (MBSs), collateralized mortgage obligations (CMOs), and various other assets structured to fail.

Combined, they sliced, diced, packaged, repackaged, and sold them in tranches to sophisticated and ordinary investors. Many bought them unwittingly through mutual funds, 401(k)s, pensions, and other investments.

The Senate listed federal security law violations. Goldman wasn't alone. Other major Wall Street banks conspired with financial partners to steal and get away with it. Justice Department officials and prosecutors got enough evidence to hang them.

Committee chairman Carl Levin said the panel's two-year probe found "a financial snake pit rife with greed, conflicts of interest and wrongdoing." He recommended prosecution. He added:

"In my judgment, Goldman clearly misled their clients and they misled Congress."

On August 9, the Justice Department said it conducted "an exhaustive review of the report." It concluded that "based on the law and evidence as they exist at this time, there is not a viable basis to bring a criminal prosecution with respect to Goldman Sachs or its employees in regard to the allegations set forth in the report."

In other words, fraud charges don't matter. Whatever Goldman does is OK. Stealing is how it does business. Obama officials find no fault. Goldman expressed relief it's all over.

It knows Justice Department prosecutors won't lay a glove on them. It's free to make money by stealing it.

Its only obligation is regular campaign contribution kickbacks, insider trading tips, other ways for pols to profit and get rich, and financial officials like Bernanke, Geithner, and others at Treasury and the Fed getting sweet revolving door jobs out of Washington when or if they plan to leave.

Each side helps the other. Political and Wall Street crooks conspire to keep a sweet racket going. Corruption is a way of life. Congress, administrations, the judiciary, and scoundrel media go along. Laws are only for ordinary people. Predators are free to prey.

[-] 1 points by matoinyanawacis (157) 2 years ago

I see so your argument is that like the birthers moronic statements, you believe President Obama and Goldman Sachs hatched this scheme to defraud investors and the nation together, and that he also told AG Holder to let Goldman go..... I'm sorry, I cannot continue the stupidity of this argument... I'll end simply with... Wall street bought our Government LONNNNNNNG before President Obama or AG Holder got into office... and like all Cancer, a doctor cannot always remove it or at least not right away.. and the cancer is fighting like hell to kill the patient (American People Representative Government)... The Cancer (Plutocratic Government Control) will never be exorcised until all AMERICANS recognize the cancer for what it is, and not for what the cancer tells the American People it is.

[-] 0 points by VQkag2 (16478) 2 years ago

Doesn't make sense. Do you have any detail regarding this?

[-] 1 points by SingleVoice (158) 2 years ago

It makes perfect sense when you understand the politics of cronyism.

These are your words..."You said there are lots of laws covering these crimes. But you didn't mention any. You simply spewed accusations based on who was appointed. I guess you have no proof? What laws.? Republicans crafted laws to protect the execs from prosecution."

I wasn't spewing accusations..It's been all over the news...You asked for laws, I gave you laws and these are laws dating from the 1930's but in your narrow view you say "Republicans crafted laws to protect the execs from prosecution." Where is your proof of that? What laws? That is a totally false statement.

I think the Republicans are guilty of many things especially working with democrats to abolish Glass Steagle in the 1990's. Both parties are at fault for that and that is what led to the financial meltdown but I am so tired of hearing people spout stereotypes from either party with no proof...just to promote their agenda.

I'm looking for truth here no matter who's involved. I want Goldman Sachs to be punished as well as the other investment banks that caused this mess. And then I want Glass-Steagle re-instated to break up these institutions into separate depositor banks and investment banks so they can no longer gamble with taxpayer money insured by the FDIC.

The laws were broken and the charges have been dropped by the Dept of Justice under Obama's guy, Holder and now no one's going to pay.

You seem to refuse to believe that your guy's guy Holder is letting this go without a legitimate reason. That's the way it is when these politicians are in the tank for campaign money. Goldman Sachs has spent more money on Obama's campaigns both in 2008 and 2012 and now they get their payback with exoneration from charges. That's the reason.

[-] 1 points by VQkag2 (16478) 2 years ago

Republicans are guilty "of working with democrats to abolish glass Steagle"

Weakening financial regulations (like repeal Glass Steagle, and prosecutorial avoidance for fin execs) is republican/conservative dogma.

Strengthening fin regulations (Dodd Frank which repubs watered down) is democratic/liberal dogma.

Glass Steagle certainly had dem votes and a dem presidential signature but it was solidly conservative policy.

So I'm greatly disappointed that Pres Obama failed to put these 1% plutocrats in jail. Maybe they were bought off as is suggested. I've seen no proof of that.

But I KNOW we've had weak regulations/laws regarding prosecution of swhite collar criminals for decades. Remember the 1% rigged the system long ago. And I know the laws they rig always starts with their conservative puppets.

So I guess we disagree. I see know evidence of the accusation you make. I know the laws must be strengthened. You have ignored this critical part of the problem.

We MUST agitate to strengthen the laws against banksters.

[-] 1 points by jrhirsch (4714) from Sun City, CA 2 years ago

Another apologist for Obama. Do you defend him because of his party or because he is your political messiah?

[-] 2 points by VQkag2 (16478) 2 years ago

The problem is the republican laws that limits liability. We must agitate to change these laws so that execs can be held responsible. They must be afraid of spending 20 years in jail.

It's the only way to be sure!

[-] 1 points by matoinyanawacis (157) 2 years ago

Amen

[-] -1 points by VQkag2 (16478) 2 years ago

Andcan I get a Hallelujah in here.?

Lotta people here spend all there time attacking Pres Obama and the Dems and leave out Republicans responsibility.

I accept the dems have serious problems, But the parties are vastly different, and the dems are 1000 better on the issues of OWS and the 99%

Good to have you making comments don't be discouraged if they come after you. You can always talk to me.

Support OWS.

Elect progressives, Vote out pro Norquist, Anti Buffet rule politicians

[-] 1 points by SingleVoice (158) 2 years ago

It's not the lack of laws, it's the lack of prosecuting.

"In such a target rich environment, how on earth is it possible that Bank Fraud prosecutions are dropping? I bitched about this when George W. Bush was President, and I will continue until we get someone in the White House who understands what the RULE OF LAW actually means . . ." By Barry Ritholtz

See the chart at this link:

http://www.ritholtz.com/blog/2011/11/bank-fraud-prosecution-continues-to-drop-under-obama/

[-] 1 points by VQkag2 (16478) 2 years ago

It's bad law as well. Execs have all kinds of protection from prosecution.

Real fin reform with execs made liable. Gotta send a few of them to jail for 20 years.

It's the only way to be sure.

Elect progressives. Vote out anti fin reg republicans

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[-] 1 points by matoinyanawacis (157) 2 years ago

Depends... you asking because you are a racist and hate the idea of a Black man in the WHITE house. Unlike you.. I seek no apology, nor do I apologize for anyone save myself SHOULD I make an error or mistake. But I do KNOW that a fireman cannot save the victim in a burning building if a crowd of people are surrounding the fireman so that he can't reach the house, and chop holes in his firehose so that he can;t put out the fire. That is all the repugnacan party has done from DAY 1, block, obstruct, filibuster, impede, stall, and a whole slieu of other adjectives I could list, but I am afraid the net server would crash if I listed them all. I trust President Obama a WHOLE HELL of a lot more than I do Romney or the repugnacans consider their behavior over the last decade and more.

[-] 2 points by jrhirsch (4714) from Sun City, CA 2 years ago

A person who voted for Obama in 2008 could hardly be called a racist. But a person who uses the term Repugnacan is a type of racist, a political one. OWS is not about parties, it's about the corruption within both parties that has led to wall street and big business colluding with government to tilt the field of Democracy in their favor.

Partisans on both sides only see the corruption of the other party, never their own. Partisans are the only ones who can enter their own party and put the flames out. If you don't put them out, the members will flee.

Independents are now 40% of registered voters and growing. They are singed and blistered, and most will never return.

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[-] 0 points by timirninja (263) 2 years ago

so many words... big brother has interest in Goldman. big brother want president to perform his role. that is why he been implemented in first place. so many private and government companies dealing with Goldman. what if Obama will begin investigation on it, so everybody starts pulling out their actives and eventually Goldman even with government help will be unable to pay liabilities. do you forgot Global Financial Crisis and 2008 financial crisis? dont be so naive. everybody still having their kickbacks and bonuses hehehehe

[-] 1 points by doitagain (234) from Brooklyn, NY 2 years ago

everybody lose during the crisis. only 1 % can make dollar out of 50c. they know when, how and how deep its happens. in large picture, they might lost couple of millions, so what...

[-] 0 points by LetsGetReal (1420) from Grants, NM 2 years ago

Yeah, the million dollars Goldman gave Obama probably has nothing to do with it. :/

[-] 0 points by matoinyanawacis (157) 2 years ago

any more than the millions of dollars every other American has given President Obama... Romney, yeah he would, But President Obama KNOWS and has known hardship and learned the lessons of community. Most in Government have only known kickbacks and selfish entitlement as well as favor granting. NO ONE, I repeat NO ONE can overcome cancer all on their own, they need doctors and all the support systems available... President Obama can't root out the cancer of cronyism all by himself.. he needs a congress devoted to the same cause. Money won't do it, patriotic minded representatives seeking to better ALL AMERICAN lives is what is needed, not corporate and special interests.

[-] 0 points by kaiserw (211) 2 years ago

Um.. welcome to the real world... Which branch does the Justice department fall under? Oh, yea the EXECUTIVE branch! Both Bush and Obama have pretended to be completely BLIND to the corruption on wall st, including Golden Sax. During the S&L crisis there were 30,000 criminal referrals, resulting in over 1,000 prosecutions! Since 2008 we've had 3 or so, and the window for prosecution is about to close. How CONVENIENT! SO! tell me about Obama's sad story that he can't bring a case against the so well funded bankers... bullshit! He hasn't even tried!!!!!

Go listen to Bill Black, or read his book, it should make your head spin.

[-] 0 points by matoinyanawacis (157) 2 years ago

Really, so you don't think that the Bankers and other criminals wouldn't have learned their lessons from the S&L debacle and made sure to have the laws adjusted over the last decade of deregulation to make them exempt from prosecution. Your lack of imagination does the banking industry credit. They hope people are lacking in such intellectual critique as to be able to postulate the manner in which they have end run around the laws of our Nation. I guess the K O C H brothers attempts to defund our education system has worked in one case. But your right, President Obama should just act like God, ignore the laws, rightly or wrongly, instituted by congress, and just arrest anyone he wants and put them away....What not going to say "that's what he's doing right now??" No? Why not, you seem to think he is all powerful and can just convict criminals in the banking industry on just his say so... He did try... you just don't think he tried hard enough... let me let you in on a little secret... some people do know a losing cause when they see it, and don't want to waste their money(our tax money) trying to achieve something they know the laws currently in place won't let them achieve... a conviction of despotic rich assholes who have so many high priced lawyers available to them that they could drag out the issue till the end of time and still win against the government just on minor technicalities. No, The President knows when and where to pick his fights, and which ones he can win. He has managed to pass a few of them, against overwhelming odds. Look at those, and tell me that they are for the rich and the special interests, Lily ledbetter, Affordable Care Act... on and on... I don't listen to opinions, I listen to FACTS... I have SEEN the change in laws since the S&L debacle...apparently you HAVEN'T.

[-] 0 points by TrevorMnemonic (5827) 2 years ago

LOL

I love when people make excuses saying "the president doesn't have the power" because you support this president... but when it comes to a candidate you don't support... they have all the power to do all their bidding...

I don't get the logic.

And fuck Romney. He wants to start a war as soon as he takes office. And in that role thanks to laws passed under congress and the last 2 presidents... he has the power. Romney said it himself.

Crooks and Liars - Romney war with Iran - http://crooksandliars.com/nicole-belle/romney-president-has-power-act-unilat

Please keep making excuses for why the NDAA's have to be passed even if they contain bullshit provisions.