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24 Apr 2010 12:00

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Biz: Goldman Sachs e-mails: Yeah, we bet against mortgages

  • Of course we didn’t dodge the mortgage mess. We lost money, then made more than we lost because of shorts.
  • Goldman Sachs CEO Lloyd C. Blankfein • In an e-mail regarding its role in the mortgage crisis. The e-mail, one of many released by the Senate Permanent Subcommittee on Investigations, suggests that the company was betting against the failing housing market and profiting significantly from it – one of the main claims of the SEC’s lawsuit against the investment firm. This could be bad news for Goldman Sachs. source
Posted by Ernie Smith • 0 Comments • Permalink

23 Apr 2010 13:35

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U.S.: SEC officials too busy watching porn to prevent financial crisis

  • 31 Securities and Exchange Commission officials were nailed watching porn in the last two and a half years
  • 17 of those idiot workers were senior staffers who made between $100,000 to $222,000 per year source
Posted by Ernie Smith • 0 Comments • Permalink

22 Apr 2010 11:22

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Biz: Lehman Brothers hearing: Who is this bad@$$ at the podium?

  • William Black here just got his teeth out and threw some knowledge out on the SEC, Lehman Brothers, and the financial system in general. He calls the problems that caused Lehman’s decline a “self-fulfilling policy of regulatory failure.” Why isn’t this guy like, running an agency? This is seriously a star turn here. source
Posted by Ernie Smith • 0 Comments • Permalink

20 Apr 2010 10:17

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Biz: SEC, Smesh-EC: Goldman Sachs kills it in quarterly profits

  • $3.46
    billion     size of Goldman Sachs’ profits this quarter, which is kind of a lot
  • 91%
    boost     the amount the company’s earnings went up from a year ago source
Posted by Ernie Smith • 0 Comments • Permalink

19 Apr 2010 23:17

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Biz: The SEC wasn’t fully in favor of the Goldman Sachs lawsuit

  • 3-2 the vote which sealed the
    landmark suit’s fate source
Posted by Ernie Smith • 0 Comments • Permalink

16 Apr 2010 11:18

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Biz: Goldman Sachs’ stocks look like a waterfall this morning

Posted by Ernie Smith • 0 Comments • Permalink

16 Apr 2010 11:09

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Biz: Why Goldman Sachs is feeling the SEC’s wrath this morning

  • one Goldman Sachs
    reportedly offered a
    mortgage to its
    customers, then bet
    against it on Wall Street.
  • two It managed to
    profit handily, staying relatively unscathed during the worst of the financial crisis.
  • three The SEC sued them
    this morning, making
    some fairly damning
    claims after noticing
    funny stuff. source
Posted by Ernie Smith • 0 Comments • Permalink
 

16 Apr 2010 11:01

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Biz: Sign Goldman Sachs is having a bad day: It’s a trending topic



Posted by Ernie Smith • 0 Comments • Permalink

09 Apr 2010 16:22

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Tech: Does Apple have a feasible reason for blocking Flash-created apps?

  • Yes, apparently. It’s related to multitasking. As the nerd world went into a tizzy yesterday after realizing the nature of the iPhone’s new developer’s agreement, it appears that the main complaint – a clause seemingly written to block Adobe Flash-compiled apps – might have been been put in for multitasking-related reasons. Essentially, code not written directly for the iPhone may not act as anticipated with the new features, AppleInsider reports. In other news, Adobe’s SEC filing today essentially admitted Apple’s anti-Flash tactics could really hurt the company. source
Posted by Ernie Smith • 2 Comments • Permalink

30 Oct 2009 20:52

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Biz: Despite many chances, Bernie Madoff surprised he wasn’t caught sooner

  • It was a nightmare for me. I wish they caught me six years ago, eight years ago.
  • Bernard Madoff • Speaking during a June prison interview with investigators about the Securities and Exchange Commission’s constant probing of his ponzi scheme. You start to feel sympathetic until you realize that this jerk could’ve easily said something six or eight years ago and prevented some of the $21 billion in investor losses. So Bernie gets no sympathy. • source
Posted by Ernie Smith • 0 Comments • Permalink
 
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