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New York, 11:25 AM
Wed Nov 11
55 posts in the last 24 hours

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  • posts about #investigations more →

    Senate to Investigate Goldman Sachs For Banker Shenanigans

    The Only Thing Missing is a Reference to Gypsy Tears

    Let Us Speculate Recklessly About Mark Sanford's Extramarital Proclivities

    Porny Kennedy Hot For Camelot Tot

    Sully: Cold As Ice

    Carradine Death Looks Like Sex Gone Wrong

    Did Erich 'Mancow' Muller Fake His Waterboarding for Publicity?

    Fewer Newspapers= Death of Innocents

    Indian Police Drop Child-Selling Case, Rather Than Place Phone Call to England

    A Generation of New York City's Corrupt Pols Laid Low
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    Image of RonnSicTorossian RonnSicTorossian
    07/30/09

    In reply to Senate to Investigate Goldman Sachs For Banker Shenanigans
    No finance wizard here, but if I understand they were the only bank shorting the mortgage shit they were also hawking, so, if true, fuck you very much goldman suchs.
     Reply
    thegreatfratsby promoted this comment RonnSicTorossian was starred RonnSicTorossian was unstarred
    Image of thegreatfratsby thegreatfratsby
    07/30/09

    @RonnSicTorossian: It's called hedging. I'm no GS proponent, but it's a sound, if "unfair", market tactic based primarily on being smarter than the lowing, baa-ing hordes of traders.
     Reply
    thegreatfratsby was starred thegreatfratsby was unstarred
    Image of The Lone Scout The Lone Scout
    07/30/09

    In reply to Senate to Investigate Goldman Sachs For Banker Shenanigans
    It has to be said that, whatever responsibility GS and other financiers may have for lying, much of the general citizenry were all too happy to throw common sense to the wind and gobble up low-cost loans. I hope that today's difficulties will point us back to a few tired truisms (such as, "There's no such thing as a free lunch") and build up our skepticism for the next round.
     Reply
    The Lone Scout was starred The Lone Scout was unstarred
    Image of If_I_Had_a_Poodle If_I_Had_a_Poodle
    07/30/09

    @The Lone Scout: and that goes for the company owned by the wife of thomas friedman, which is now brokey brokey brokey after losing billions
     Reply
    If_I_Had_a_Poodle was starred If_I_Had_a_Poodle was unstarred
    Image of gawkimo gawkimo
    07/30/09

    @The Lone Scout: There's another truism, this one by HL Mencken. The thing about nobody ever going broke underestimating the stupidity of the American public? If we know people are stupid and live beyond their means and take up debt they can't pay back, then really the only solution is to, you know, maybe, uh. . . rules. . . that . . . prevent . . . companies . . . from . . . exploiting . . . stupidity.
     Reply
    gawkimo was starred gawkimo was unstarred
    Image of The Lone Scout The Lone Scout
    07/30/09

    @gawkimo: Mencken also commented, "Capitalism undoubtedly has certain boils and blotches upon it, but has it as many as government? Has it as many as marriage? Has it as many as religion? I doubt it. It is the only basic institution of modern man that shows any genuine health and vigor." And I would rather that we all learn to protect ourselves than allow the Gummint to decide what we need protecting from.
     Reply
    Edited by The Lone Scout at 07/30/09 1:43 PM The Lone Scout was starred The Lone Scout was unstarred
    Image of gawkimo gawkimo
    07/30/09

    @The Lone Scout: The problem is, of course, being mad that GS got away with what it did is in no way a condemnation of capitalism -- it's a condemnation of CRONY capitalism. CRONY, being the operand. And I don't think Mencken would have thought much of Goldman Sachs running the Treasury Department and letting its competitor go under before sending federal dollars to the rescue of some other enormous banks. Because you and I both know that giving taxpayer money to huge investment banks is not capitalism. (PS: Goldman Sachs paid back $10 billion. It got an additional $13 billion from AIG. So let's nip that one in the bud right now.)
     Reply
    Edited by gawkimo at 07/30/09 2:36 PM gawkimo was starred gawkimo was unstarred
    Image of Nesbiteme Nesbiteme
    07/30/09

    In reply to Senate to Investigate Goldman Sachs For Banker Shenanigans
    There are no doubt a plethora of internal memos within these firms, written by the quants who built the models in question, that refer to the parameter and performance limitations that could be expected when using these models. Likely, the executives disregarded these limitations or pretended to understand what they were but really had no clue. This is where the congressional investigation should focus. Given the fact though that most Senators don’t even know what a VIP mortgage is even though they got one it is unlikely that they or their just out of college aids will look in that direction.
     Reply
    The Lone Scout promoted this comment Nesbiteme was starred Nesbiteme was unstarred
    Image of Mohamed Ndiaye-Kingué Mohamed Ndiaye-Kingué
    07/30/09

    In reply to Senate to Investigate Goldman Sachs For Banker Shenanigans
    What about those" High frequency trading programs" that Goldman Sachs uses and help them making billions.Basically,it's a multidimentional uncontrolled V-back System where you can get flows that are occuring between any number of stocks that can cause the system to flow anywhere between 0 and Ø..The main issue is that they dont know « how bad » this model could be .
     Reply
    The Lone Scout promoted this comment Mohamed Ndiaye-Kingué was starred Mohamed Ndiaye-Kingué was unstarred
    Image of thegreatfratsby thegreatfratsby
    07/30/09

    @Mohamed Ndiaye-Kingué: Now THAT is a good point. high-frequency trading is probably the third-dumbest idea on the street right now, which we'll all realize when a replicating algorithm goes berserk and trashes IBM or Dow or something.
     Reply
    thegreatfratsby was starred thegreatfratsby was unstarred
    Image of Dally Dally
    07/30/09

    In reply to Senate to Investigate Goldman Sachs For Banker Shenanigans
    From what I've heard about investment banks, the subject line on 95% of internal emails will contain the word 'bonus', eg how big is X's bonus, when am I getting my bonus, why my bonus is ludicrously inadequate considering the business I've generated compared to X, etc ad infinitum. And some lucky Senator's intern is probably going to get to read them all.
     Reply
    The Lone Scout promoted this comment Dally was starred Dally was unstarred
    Image of nowimpissed nowimpissed
    07/30/09

    @Dally: I've reviewed more banker emails than I'd care to admit and you are way off. They're 95% porn.
     Reply
    nowimpissed was starred nowimpissed was unstarred
    Image of thegreatfratsby thegreatfratsby
    07/30/09

    @Dally: No, no. No one's crass enough to put that into an email. That's what you TALK about; your emails look more like "intrn pls prnt/bind 30dcks 2nite come in tmmrw (sundy) by 10 thx. Sent from my AT&T Blackberry"
     Reply
    thegreatfratsby was starred thegreatfratsby was unstarred
    Image of Iwillnotauditionforastar Iwillnotauditionforastar
    07/30/09

    In reply to Senate to Investigate Goldman Sachs For Banker Shenanigans
    I went too far back in my comment stream and it's like we are being followed by zombies. Aaron, hold me.
     Reply
    Edited by Iwillnotauditionforastar at 07/30/09 5:32 AM Iwillnotauditionforastar was starred Iwillnotauditionforastar was unstarred
    Image of Aaron Altman Aaron Altman
    07/30/09

    In reply to Senate to Investigate Goldman Sachs For Banker Shenanigans
    I wonder what their version of "I do not believe nicotine is addictive" will sound like.
     Reply
    Aaron Altman was starred Aaron Altman was unstarred
    Image of Iwillnotauditionforastar Iwillnotauditionforastar
    07/30/09

    @Aaron Altman: Eh, wolves running the henhouse at this point. Lots of making love, eating hens and reporting on the good health of said hens.

    And that one raccoon, invited in for an orgy and a bake off, being sent off to prison the minute he shows up.
     Reply
    Edited by Iwillnotauditionforastar at 07/30/09 5:36 AM Iwillnotauditionforastar was starred Iwillnotauditionforastar was unstarred
    Image of Aaron Altman Aaron Altman
    07/30/09

    @Iwillnotauditionforastar: So a lot of mothercluckers, then.
     Reply
    Aaron Altman was starred Aaron Altman was unstarred
    Image of Iwillnotauditionforastar Iwillnotauditionforastar
    07/30/09

    @Aaron Altman: Them Senators are so henpecked as it is by the President.
     Reply
    Iwillnotauditionforastar was starred Iwillnotauditionforastar was unstarred
    Image of Mike Byhoff Mike Byhoff
    07/06/09

    In reply to The Only Thing Missing is a Reference to Gypsy Tears
    Thank you for posting my stupid shit. I can always rely on you, CB.


    swoooooon

     Reply
    Mike Byhoff was starred Mike Byhoff was unstarred
    Image of Foster Kamer Foster Kamer
    07/07/09

    @Mikey-B: Yeah, fuckin' A, Mike. Think of the peace.
     Reply
    Foster Kamer was starred Foster Kamer was unstarred
    Image of Wendy_Kroy Wendy_Kroy
    07/06/09

    In reply to The Only Thing Missing is a Reference to Gypsy Tears
    Next up: Bruno translating Arnold Schwarzenegger's "State of the State" address.
     Reply
    Wendy_Kroy was starred Wendy_Kroy was unstarred
    Image of Carol Gardens Carol Gardens
    07/06/09

    In reply to The Only Thing Missing is a Reference to Gypsy Tears
    I can't believe you posted this. I was thinking the exact same thing this morning and wishing that I was an official Gawker writer so that I could start a thread about it. Thanks, CB!
     Reply
    Carol Gardens was starred Carol Gardens was unstarred
    Image of The Cajun Boy The Cajun Boy
    07/06/09

    @Carol Gardens: Well, thanks Mikey-B for putting it together for me.
     Reply
    The Cajun Boy was starred The Cajun Boy was unstarred
    Image of kimsama kimsama
    07/06/09

    In reply to The Only Thing Missing is a Reference to Gypsy Tears
    "We have reached mutually beneficial results NOT"
     Reply
    kimsama was starred kimsama was unstarred
    Image of pureblarney pureblarney
    07/06/09

    @kimsama: "We have NOT reached mutually beneficial results"
     Reply
    pureblarney was starred pureblarney was unstarred
    Image of If_I_Had_a_Poodle If_I_Had_a_Poodle
    07/01/09

    In reply to Let Us Speculate Recklessly About Mark Sanford's Extramarital Proclivities
    j-e-l-l-o
     Reply
    If_I_Had_a_Poodle was starred If_I_Had_a_Poodle was unstarred
    Image of Mediahohoho Mediahohoho
    07/01/09

    In reply to Let Us Speculate Recklessly About Mark Sanford's Extramarital Proclivities
    "Just the tip, just to see how it feels."
     Reply
    Mediahohoho was starred Mediahohoho was unstarred
    Image of johnny_carsick johnny_carsick
    07/01/09

    In reply to Let Us Speculate Recklessly About Mark Sanford's Extramarital Proclivities
    i do believe the "ultimate line" is the infamous Carolina Mudcat.
     Reply
    johnny_carsick was starred johnny_carsick was unstarred
    Image of Edward Lionheart Edward Lionheart
    07/01/09

    In reply to Let Us Speculate Recklessly About Mark Sanford's Extramarital Proclivities
    If "cross the line" means penetration, then it's worth saying that Bill Clinton--whom Sanford strenuously denounced and called on to resign--did not "cross the line" with Monica Lewinsky. (I'm sure he crossed the line with scores of others, but not in the Oval Office.) This is a hypocrite of hippopotamic proportions.
     Reply
    Edward Lionheart was starred Edward Lionheart was unstarred
    Image of BookishLookish BookishLookish
    07/01/09

    @Edward Lionheart: I just wish you had thrown the word "Potomac" in there somewhere.
     Reply
    BookishLookish was starred BookishLookish was unstarred
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