You can thank President Obama for the SEC going after Goldman Sachs

[NJmaverick]

There were some people trying to claim that President Obama had nothing to do with this. However the fact of the matter is this vote went down party lines with the two Dems voting to go forward and the two Republicans voting to pretend nothing happened. The tie was broken by the independent APPOINTED by President Obama

http://www.businessweek.com/news/2010-04-19/sec-said-to-vote-3-2-to-sue-goldman-sachs-over-cdo-disclosures.html

[ClarkUSA]

1. Of course. Anyone who thinks differently is allergic to facts.

Not only that, but Democrats are pushing the SEC to widen their fraud probe.

[NJmaverick]

28. This is why it's best to have the Dems in charge

[ClarkUSA]

36. Of course. Anyone who thinks differently doesn't belong here. n/t

[TheOther95Percent]

2. SEC Chair Schapiro is much more aggressive than her predecessor....

and smarter.

[NJmaverick]

3. Some how I am doubting that George Bush had the same selection criteria as

President Obama

[TheOther95Percent]

31. As well you should. I don't a functioning brain was required in the Bush Administration.

[hughee99]

4. And that, my friends is how a skilled politician takes both sides of an issue!

http://www.businessweek.com/news/2010-04-21/obama-says-sec-never-discussed-goldman-probe-with-white-house.html

[NJmaverick]

5. He is taking one side of the issue. This article addresses charges by the Republicans

that the Goldman Sachs issue is a partisan witch hunt and that the SEC and the White House coordinated the timing of the filing to kick of the Dems drive for financial reform.

[hughee99]

6. By "taking both sides" I'm referring to the way that we have Obama to thank

for the prosecution, while at the same time he was not involved in this in any way, according to his own statements.

[NJmaverick]

7. Very true, unless one notes that the vote was won thanks to the person he appointed

[hughee99]

11. Which is why it works so well.

I'm not trying to give Obama a hard time here, and I applaud the SEC, but I think his "we just found out today when we read it in the paper" statement is a little unbelievable. Does anyone really believe the WH didn't get a head's up on this even if they weren't involved with the decision at all?

[NJmaverick]

13. He probably go the same heads up the every other president gets

[hughee99]

14. As well he should.

I'd really like to think that the first time the administration hears about some significant government action is not from the press.

I guess what I was secretly hoping for was, when asked about GS, rather than saying he just found out, I'd rather he said "Yes, we did this and it's f'ing LONG overdue!".

[amborin]

8. so far he hasn't really gone after them, just theater until he really reins in derivatives and swaps

[NJmaverick]

9. That's exactly what the President was pushing in his Cooper Union speech

[amborin]

10. NO! The "reform" still leave loopholes for unregulated derivatives

still super easy to evade transparency and scrutiny per the "reform" proposed

and, Obama needs to clean house of the crooks in his administration, starting with Geithner

[NJmaverick]

12. If you are calling Geithner a crook, even though he hasn't been charged

or even accused, I have to doubt your claims to how flawed the bill is.

[ClarkUSA]

15. What exactly are the "loopholes" in the bill? Provide factual proof, not op-ed polemic.

During his speech at Cooper Union today, President Obama said the Wall Street reform bill would invoke the Volcker rule, pointing to the smiling Mr. Volcker sitting in the front row. He also said there would be no more "too big to fail" banks to bailout via taxpayer dollars because the bill places limits on the size of banks and kinds of risks.

Here is an interview with Austan Goolsbee on NPR talking about the Wall Street reform bill where he focuses on derivatives:
http://www.pbs.org/nbr/site/onair/transcripts/white_house_economic_adviser_austan_goolsbee_100416

[Cha]

16. Yes, I thank the President for every success he's implemented..

I appreciate it. I also Rec this OP.

[conscious evolution]

17. It is a start

Whether or not it turns out to be another Kabuki performance piece remains to be seen.

[ClarkUSA]

18. Someone is feeling the heat: "Goldman CEO Blankfein feels that ‘government is out to kill them.’"

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4353205&mesg_id=4353205

haha

[NightWatcher]

19. maybe had he not received a million dollars from them, the DOJ would be going after them

and putting some of these guys in jail instead of threatening them with fines.

Explain to me the logic of allowing bank robbers to pay a fine (while doing it with their ill-gotten gains)


ok, so I exaggerated, $994,795 http://www.opensecrets.org/pres08/contrib.php?cycle=2008&cid=n00009638

[NJmaverick]

20. Do you have a single shred of evidence to back up your assertion?

To suggest a virtual bribe is a serious charge.

[NightWatcher]

21. Goldman Sachs donated a million dollars to Obama....

$994,795 http://www.opensecrets.org/pres08/contrib.php?cycle=2008&cid=n00009638


and now they are getting their return on investment

[NJmaverick]

22. So did Harvard and the University of California donated even more

so is the President in the tank for them as well?:eyes:

[NightWatcher]

24. if they start to get unfair treatment, yes

Goldman should be in the middle of a criminal probe, not a civil investigation. Someone had to make the decision and it appears to have benefited them. Plus, Goldman has come out of this horrible economy making a damn profit while other financial houses had to close up and go away. Look how many Goldman employees are now government employees or vice versa...

"Wall Street banking behemoth Goldman Sachs, which was charged with securities fraud last Friday over its role in the subprime mortgage meltdown, has hired President Obama's former White House Counsel Greg Craig to defend the company, according to a report published late Monday by Politico." http://www.truthout.org/goldman-hires-ex-white-house-counsel-defend-bank-against-fraud-charges58716


So now, Goldman hires Obama's former counsel, I'm sure that will help them out as well.

[NJmaverick]

25. Do you understand that this counts ANY employee that works for Goldman Sachs

and any family members of that employee? You think Goldman Sachs orchestrated a massive fraud to funnel all that money to the Obama campaign?????

[amborin]

29. banksters gave more campaign $$$ to Obama than to any other candidate

and, it's the Goldman Sachs Administration:

candidate

it's the GS administration; does that provide an answer?

from opensecrets.org

Goldman Sachs $994,795 ***********
Harvard University $854,747
Microsoft Corp $833,617
Google Inc $803,436
Citigroup Inc $701,290 ************
JPMorgan Chase & Co $695,132 *************
Time Warner $590,084
Sidley Austin LLP $588,598
Stanford University $586,557
National Amusements Inc $551,683
UBS AG $543,219
Wilmerhale Llp $542,618
Skadden, Arps et al $530,839
IBM Corp $528,822
Columbia University $528,302
Morgan Stanley $514,881 *****************
General Electric $499,130
US Government $494,820
Latham & Watkins $493,835

[greencharlie]

38. lol...

that's smooth... get a million bucks from them AND nail them to the wall.

[BlooInBloo]

23. It's worse than nothing! Obama is just a corporatist! Obama is a republican!

Just wanted to try out being a "true progressive", see how it felt. :P

[NJmaverick]

26. !

:spray:

[Scurrilous]

27. K & R

:thumbsup:

[Rex]

30. Oh great, that means the Tea Baggers will totally be confused

as to what this means! I'm sure Fox News will forget about this story or slant it against Obama.

[earth mom]

32. ROFLMAO! You do realize that Goldman Sachs gave $994,795 to the Obama campaign don't you?

FYI-Obama got the MOST of any candidate from Goldman Sachs.


http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x8196540


Btw, your Obama b.s. is getting really old.

[NJmaverick]

33. Those are donations from employees and family of employees

if you are interested. Judging by your uncontrolled laughter I am thinking that is not the case, better to present faulty information and all that.

[Cha]

37. BS? That's your department.

[historian]

34. you forget something

His economic team is made up of ex Goldman Sachs thugs!

[NJmaverick]

35. and???????