Charlie Rose

charliesheep  01/15/2013 12:36 PM Report

LLOYD BLANKFINE; THE GOLDMAN/SACHS LOBBY THAT; WROTE HIMSELF A 65 MILLION DOLLAR-CHECK DEC 2012 -JUST PRIOR-FISCAL CLIFF DISMEMBERMENT --THE TIGHT WADS- 700 YEARS, ON SMILE -THEIR MITSVA- IS TO FLUSH TWICE ;WHEN THEIR IN WASHINGTON D.C.! SO, THE DISTRICT HAS WATER TO DRINK! OI VEY;--BOEING SAYS; THEIR MONEY SPENDS GOOD,I,E ISRAEL BUYS LOTSA ROCKETS AND PLANES, PROVIDES GOOD STIPEND I.E. FOR CHENEYS/ROVIANS/A.L.E.C. MEMBERS WITH SKI TRIP "POCKET MONEY" TO TETONS!--SWISS BANK DEPOSITORS--HMMM--ON NOV-2012LLOYD SAID; ALL ENTITLEMENTS WERE "OPTIONS" UNDER THE PURVEIW OF CONGRESS! BUT, HIS DEC 2012 COMMISSION CHECK,--WAS HIS OPTION EXERCISED-I.E. JUST SKINNED UNDER THE RADAR---BEFORE THE FISCAL CLIFF! WHO NEEDS S.S.I.- WHEN YOU STEAL YOURS!

JackNesbitt  05/03/2010 07:43 AM Report

Dear Sir,

The Goldman representatives who testified this week before the Levin Committee were a singularly unimpressive bunch—including the Chm/CEO! From my time in Corporate Finance sector of the Financial Services industry, I worked with and met many more impressive people than the arrogant, condescending, and evasive bores who testified in the US Senate this week. Mediocracy ran deep in that group --from Messrs Sparks, Birbaum, Swenson, Viniar, Broderick and Blankfein through to even the “Fabulous Fab” (however, at least the “Fabulous Fab” had a bit of panache and flair and humility).

Goldman has positioned itself --a claim promulgated by its own external publicity machine and the Business Schools they recruit at, by the way --as a selective organization who prides itself on its recruiting prowess and its exclusivity. In other words, Goldman sold the financial public on the notion that it selectively recruits “Masters of the Universe”. The Goldman individuals I saw last Tuesday were about as far from Masters of the Universe as you can get—including Mr. Blankfein. (Consider the absurd statement that even Mr. Blankfein made regarding his ignorance about what rated tier of investments (AAA or whatever) certain pension funds, school districts, and foundations could buy for their own portfolios.)

In a word, then, I do not know how some or maybe all of the above-mentioned individuals ever got through their first interviews on campus or the Recruiting doors at Goldman (in the US or the UK) or even got promoted to the next level. I would not hire anyone of them for even a dogcatcher position except for maybe the “Fabulous Fab” who might be good with customers and new business.

Jack Nesbitt, MBA and Recruiter

& former Corporate Finance Associate, First Chicago Capital Markets, Chicago, IL

Welwyn, Herts, England, UK and Jacksonville, Fla, USA

slightly_optimistic  05/01/2010 11:51 AM Report

Systemic weaknesses have long existed in financial stewardship. What will be done?

It is really up to each government to decide. For example the UK's Financial Reporting Council is Britain's independent regulator responsible for promoting confidence in auditing; however the FRC was powerless to stop the 'light touch regulation' that resulted in the big bail-outs from public funds.

Ricardo_Amaral  04/30/2010 09:58 PM Report

For all practical purposes the party is over for “Goldman Sachs The Pillage People.”

And I don’t believe those people who are saying that Goldman Sachs the Pillage People has some unique businesses that Wall Street would not be able to do without it.

We know that when “Goldman Sachs the Pillage People” finally implodes and goes out of business like Lehman Brothers, that there will be many people trying to get a piece of the action of what is left of any value from the carcass of “Goldman Sachs the Pillage People.”

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Ricardo_Amaral  04/30/2010 09:44 PM Report

Correction:

It seems that for now, all the smart money will be selling short the “Goldman Sachs the Pillage People” stock.

Ricardo_Amaral  04/30/2010 09:43 PM Report

It seems that for now on the smart money will be selling short the “Goldman Sachs the Pillage People” stock.

For the United States to restore some of its credibility on Wall Street and its financial markets then they have to show to the world that they are trying to clean Wall Street of the biggest scoundrels to run the show in Wall Street in decades.

A band-aid will not do at this time when you are dealing with cancer here – in this case we need critical surgery to save Wall Street.

Most of the major financial newspapers, and magazines are going easy on Goldman Sachs the Pillage People – and I can understand why they are doing that since many of these publications are just trying to pay back to the Pillage People for past information and some kind of scoop – and they are also hedging their bets just in case.

Anything that I have been reading in Barons, Bloomberg/Business Week, and so forth I am reading their material with a grain of salt, since I understand the game that they are all playing.

Right now, “Goldman Sachs the Pillage People” is working overtime and bringing from the woodwork anyone with some influence to help its massive PR job in trying to turn this situation around.

If anyone that values his reputation it does not distance himself from “Goldman Sachs the Pillage People” ASAP, then that person or organization it is a big fool.

The one thing that I like to know from the mainstream media is how much money each senator, and congressman has received in contributions from Goldman Sachs the Pillage People in the last few years – going back 5 years is good enough, since that would you give a general idea about which politicians are on the pocket of “Goldman Sachs the Pillage people.”

The party is over for “Goldman Sachs The Pillage People.”

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robdverity  04/29/2010 02:26 PM Report

Making straw-man charges that Goldman's short selling caused the financial crisis is even sillier. They were long before they were short - big time. Then their (revolving door) protege Hank Paulson bailed them all out. The John Paulson co-conspired CDS short sale is merely one spot-lighted trade to charge conflict of interest, fiduciary malfeasance and FRAUD.

I repeat: Lloyd Blankfein and his den of thieves should ALL be water-boarded, finger nails extracted, fined twice their net worth, and incarcerated for 80% of their estimated remaining life. Followed by Robert Rubin and all the rest. All yachts and (tax haven) islands should be turned over to the navy for gunnery practice.

The only one with a reasonable solution has been Michael Lewis, who in effect called for the trading be split off into a partnership where the side-bets were made with their own (not OPM other people’s) money. A form of reviving Glass-Stegall. Moral hazard cured overnight.

Blankfein said without trust they would fold. May it be so!

A just irony! Henry Paulson's (three pg heist) becomes a mockery of the thievery that it was when the too big to fail fail because they thought they were. Paulson's toys should be included in the naval bombardment as well.

Obama’s in the back pocket of Rubin and Summers et al, so reform will be limited to tokenism first approved by the thieves themselves. Venality > Statesmanship.

These guys caused REAL suffering. Their pulic castigation without followup meaningful punishment mocks us, mocks the system, and assure the moral hazard (repeat). Their ultimate nose-thumbing will have an even bigger future price the next time.

mrkinpdx  04/29/2010 01:08 PM Report

I have never been so disappointed in a Charlie Rose discussion on such an important topic. Charlie is typically so good and getting past the conventional wisdom by having smart, informed people on his show. The idea that Goldman short selling the housing market is what caused the financial collapse and is a crime is silly. It was the housing bulls going long, not to mention the entire market bubble psychology, that caused the housing bubble and eventually the financial crisis.It is too bad Charlie did not have more people familiar with financial markets and the cause of the housing bubble.

slightly_optimistic  04/29/2010 10:52 AM Report

The public hearings in the US are certainly letting people know what is happening on Wall Street.

We may also learn soon why exactly many billions of dollars of public funds were used to bail out financial institutions.

It is notable that official reports into the crisis are produced by the stewards of the national public funds used for the bail-outs. Because of the huge damage to the global economy, perhaps the G20 could order an independent review.

CarbonFoil  04/29/2010 02:32 AM Report

Hmmm, maybe the problem with Evan Thomas has less to do with Princeton than with Newsweek. I just saw an appearance by another Newsweek reporter on GritTV, who, like Thomas, waved away notions that Wall Street excesses could or even should be regulated. Why? Because the bankers, traders, and hedge fund managers are just too smart! Therefore, reform is futile; we might as well accept the gross irresponsibility, inequity, and immorality of our topheavy economic system. No big deal. That's how it is, so don't bother trying to change it.

Utterances like these make me wonder if anyone at Newsweek is aware of how completely out-of-touch they are with working people.

CarbonFoil  04/28/2010 07:28 PM Report

Good comments by William Cohan and Gillian Tett. However, the most remarkable feature of this interview is the condescending tone of Evan Thomas. He really seems to admire these Goldman Sachs robber barons, describing the Senate hearings as 'political theater' while dismissing any notion that a real crime took place, let alone that the financial collapse and TARP represents the largest redistribution of wealth in history. Ah, but the wealth still flows upward, just as his chums at Princeton believe it should!

He finished with the predictable warning that 'taxes will have to be raised and entitlements will have to be cut.' Closing tax loopholes and tax shelters, reducing military waste and war spending, and raising taxes modestly on wealthy earners will go a long way toward reducing the debt. Evan Thomas, stuck in the status quo, would never propose anything so reasonable.

robdverity  04/28/2010 05:07 PM Report

These guys caused REAL suffering. Their pulic castigation without followup meaningful punishment mocks us, mocks the system, and assure the moral hazard (repeat). Their ultimate nose-thumbing will have an even bigger future price the next time.

robdverity  04/28/2010 04:58 PM Report

Lloyd Blankfein and his den of thieves should ALL be water-boarded, finger nails extracted, fined twice their net worth, and incarcerated for 80% of their estimated remaining life. Followed by Robert Rubin and all the rest. All yachts and (tax haven) islands should be turned over to the navy for gunnery practice.

The only one with a reasonable solution has been Michael Lewis, who in effect called for the trading be split off into a partnership where the side-bets were made with their own (not OPM other people’s) money. A form of reviving Glass-Stegall. Moral hazard cured overnight.

Blankfein said without trust they would fold. May it be so!

A just irony! Henry Paulson's (three pg heist) becomes a mockery of the thievery that it was when the too big to fail fail because they thought they were. Paulson's toys should be included in the naval bombardment as well.

Obama’s in the back pocket of Rubin and Summers et al, so reform will be limited to tokenism first approved by the thieves themselves. Venality > Statesmanship.

REMant  04/28/2010 01:45 PM Report

Covered all the bases.

Ricardo_Amaral  04/28/2010 11:31 AM Report

Charlie had a very interesting interview about the Goldman Sachs 3-ring Circus act of this afternoon.

It is interesting how people still are delusional about the future of Goldman Sachs, and there damage control going on all over the place right now on their behalf.

Only fools would continue doing business with that banking-investment company.

Next time your pension fund, hedge fund, foreign government, local government at all levels in the US, or any other type of business – if you continue doing business with Goldman Sachs after everything that has been transpiring for a long time – at this point you will have a lot of explaining to do to a lot people when you lose money in any transactions and deals done with Goldman Sachs.

Basically, doing business with Goldman Sachs, it is like asking to be taken for a ride.

After all the dust settles now that the horse is out of the barn, and people will be coming out of the woodwork with more misrepresentations done by Goldman Sachs – people will realize that Goldman Sachs is nothing more than a: “Bernie Madoff on steroids.”

I started an interesting discussion at the Elite Trader Economics Forum about Goldman Sachs about one week before Goldman Sachs was charged with fraud. The timing was perfect for that thread on the ET forum and there is a lot of interesting information that were posted on that website about Goldman Sachs regarding the last 2 years as follows:

Goldman Sachs is it a Cancer or just a Parasite of the US financial system?

http://www.elitetrader.com/vb/showthread.php?s=&threadid=195957

*****

I hope Charlie Rose has the courage to bring very soon Nomi Prins to be interviewed on his TV show regarding her book: “It Takes a Pillage”

That would be a very interesting and insightful interview, since she used to work for “Goldman Sachs and the Pillage People.”

1) “It Takes a Pillage – Behind the Bailouts, Bonuses, and Backroom Deals from Washington to Wall Street”

By Nomi Prins

Published in October 2009 by John Wiley & Sons Inc.

ISBN: 978-0-470-52959-1

Ricardo: I just read the book “It Takes a Pillage – Behind the Bailouts, Bonuses, and Backroom Deals from Washington to Wall Street” by Nomi Prins, a book published in October 2009. The book explains in detail the demise and complete destruction of the US economy by the power brokers of Wall Street.

After reading this book you finally will understand why the new generations of Americans don’t have any future and how Wall Street stole their future and wasted the money to the tune of trillions of US dollars. The author gives an outstanding explanation and detailed information about what happened in the US financial markets that ended up in a global financial meltdown. After reading this book you will have a much better understanding about what is going on with the US economy today, how we got to this point and the massive trouble that lies ahead of us.

Basically there is only one conclusion for this massive financial mess made in the USA, and the year 2008 marks the end of an era, and the capitalist brand of America.

Nomi Prins is a former managing director at Goldman Sachs, and her book exposes the corruption in Washington and Wall Street. Her articles are published in Fortune magazine, the Nation, Mother Jones, and other publications. And her latest book has become an important source of information about the corruption in Washington and its connection to Wall Street.

The book shows how the revolving door between Wall Street and Washington enabled and encouraged the disastrous behavior of large investment banks. You’ll meet the Pillage People: the men who funneled trillions of dollars directly to the banks and the executives whose companies drained the American economy.

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