Goldman Sachs; More Distraction

Goldman Sachs; More Distraction

I woke up this morning to the news that the SEC is charging Goldman Sachs with fraud.  Whoopeedoodle.  In October of 2008, I wrote a piece based on a WSJ article about the FBI opening preliminary investigations into 26 banks.  Anybody heard a peep about it since? The last article I saw was the investigation of BofA over Merrill Lynch in September, 2009.

The average American may think this is great news if they were really paying attention and had all the facts.  An SEC charge against Goldman Sachs is more deflect and distract.

TurboTax Timmie (and some say Hank Paulson) was in China begging for cash.  Reports of Bill Clinton secretly heading over to Japan for cash, Barack Obama bowing to the chinese a couple weeks after a secret trip to Afghanistan(and God knows where else), and then this little story from MarketTicker that you may have missed in the all the tea party bashing going on the last two weeks.

Did The Fed Just (Surreptitiously) Bail Out Europe? (Monday, April 12th, 2010)

No, not just Greece – all of Europe.  Without Congressional authorization or notice, of course.

Hattip to a nice emailer….

Or if you prefer it on a one-year time scale…

That nice little vertical line is a gain of $421.8 billion dollars of outstanding loans and leases in one week’s time.


You won’t find anything like that in the records – because it’s never happened before.  That’s beyond unprecedented, it’s ridiculous, and assuming it’s also accurate, someone has some ‘splaining to do on what clearly appears to be some sort of back-door game being run.

Update: It has been suggested that this may be related to the FASB changes and securitized loans coming back on the balance sheet.  If so, where’s the alleged memorandum items on the other side and the footnote on FRED?  The latter is missing, but the necessary data on FRED to confirm that is not yet updated.

Nonetheless, if this is the case, it’s still bad (just not catastrophic) as this will directly hit capital ratios.  Or, put another way, where’s the additional capital that “should” be there to support what is now on balance sheet and was previously off (never mind that it was crooked as hell to have it off in the first place!)

So next time you see something incredibly out of the ordinary (Goldman Sachs charged? AYFKM?), ask yourself, “what are they trying to hide?”

April 16, 2010
Goldman Didn’t See SEC Coming
FBN’s Charlie Gasparino says sources inside Goldman Sachs say they didn’t see the SEC probe coming.

Supreme Court “Evading” The Eligibility Question

Supreme Court “Evading” The Eligibility Question

Fifteen months into the Residency of Barack Obama, Justice Clarence Thomas states during an appropriations hearing that the Supreme Court is evading the question of eligibility as it pertains to being the president.


Justice Thomas: You and I have been at this together for a decade and a half.

Jose Serrano: I am glad to hear that you don’t think that there has to be a judge on the court, (?), because I’m not a judge.

Justice Thomas: And you don’t have to be born in the United States.  You never have to answer that question.

Jose Serrano: Oh really?

Justice Thomas: Yeah.

Jose Serrano: So you haven’t answered the one about whether I can serve as president, but you answer this one?

Justice Thomas: We are evading that one.  We are giving you another option.

Isn’t it lovely that they can just sit and joke about the fact that the court is evading the eligibility question? They really don’t believe they work for us, and if RAP is correct, they really don’t.

You may find this interesting also.  Jose Serrano introduced this resolution to lift the term limit on the presidency on January 6, 2009.

(H/T BB)

Charles Krauthammer: Obama’s Remarks About The Tea Parties

Charles Krauthammer: Obama’s Remarks About The Tea Parties

Charles once again hits the nail on the proverbial head with his remarks about Obama’s condescension toward the tea party protestors ending with Bambi’s opinion of himself.  What is amazing to me is the level of truthfulness we are starting to hear from certain members of the media who are no longer being as ‘politically correct’ in their descriptions of the Liar-In-Chief.

Obama’s Nuclear Summit

Obama’s Nuclear Summit

I just received an interesting email that linked this article from Gateway Pundit:

That’s Weird?… Obama’s Nuclear Summit Logo Is an Islamic Crest

That’s weird.

Obama’s nuclear summit logo is an Islamic crest.
Via Evil Conservative.

Error Theory put up this graphic.

It’s just weird. We all know he’s a good Christian. We’ve even seen his church.

Take a moment kids and look at this photograph and tell me if you see what I see (and it doesn’t have anything to do with the nuclear summit logo).

pResident Wants A Thank You; Rush Obliges

pResident Wants A Thank You; Rush Obliges

Yesterday, the pResident made a statement at a fundraiser being held at Gloria Estefan’s Miami mansion about how the American people should be thanking him for the tax cuts in the ‘Recovery Act’. Rush decided to oblige him today.

As many of you know, our taxes have not gone down; many are set to increase in 2011 when the Bush tax cuts expire, and many new taxes have started because of Obamacare. Go here to see this:

Bambi obviously believes what he is saying, so who is he really talking to, and are the democratic contributors shelling out $30K per person really that stupid or is there something more to the story?

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