Sen. Levin Gets Testy With Goldman Sachs Executives: 'Boy That Was A Shitty Deal'

VIDEO PAID FOR BY COVINGTON & BURLING DOJ

Senator Carl Levin interrogates Goldman Sachs executives.

"How much of that shitty deal did you sell to your clients?"

Related:

Goldman SEC Case -- Complete Links

Comments

[James H]

I watched this live. Cracked me up. After talking for a couple of minutes about "crap pools" (Levin must have said "crap pools" about eight times), then they went on to the "shitty deal" email. Levin must have said "shitty deal" about 27 times. Will it make the nightly news? Will they bleep it out? Too funny either way.

[James Street]

It's not about humor, it's about power, prison terms and firing squads.

For 600 million dollars, I could do five minutes of fry time, on national television in front of 100 Senators, standing on my head, and I presume you could also.

But I wouldn't do 20 years in prison or face a firing squad.

It's about power and who wields it. The hour is getting late for America incorporated and that's not funny, to me at least.

[James H]

James Street, no need to tell me what's funny and what's not. I haven't slept right in 18 months because of my increasing awareness of this shit. If some senator is talking about Goldman's "shitty deal" in the hallowed halls of congress, well, that's just a little gleaming bit of cubic zirconium in the great shit pile of American politics. 18 months of not sleeping right and countless mini-strokes just *thinking* about all the people I'd like to choke... I don't mind having a laugh now and then.

I see your point, of course, but i'm already there with you.

[James Street]

Humor is necessary for sanity, agreed.

I laugh at this stuff also, even though I know that it is deadly serious.

Take a look at Charlie Chaplin laughing at Hitler. It's hard to laugh along with him because we know too much. But most of us laugh anyway ;)

Laughing at Hitler: http://www.youtube.com/watch?v=2VruioFzIwg&NR=1

[tss]

keep in mind; all this is about the profits made by GS on what they themselves call a shitty deal, nobody has mentioned, or looked into, the profits made by the GS Individuals in their own personal accounts. IMHO, its the gains in Individual accounts that would outweigh the huge gains that GS made, it were possible to ever find this out
i would think that all of them considered their own accounts as their main income source, despite the multi-million bonuses they get from GS

[DailyBail]

you make a good point tss...we have looked into the personal profits and trading of stephen friedman...but he is but one goldman insider to watch...

http://dailybail.com/home/is-stephen-friedman-guilty-of-insider-trading.html

http://dailybail.com/home/how-the-ny-fed-under-stephen-friedman-tim-geithner-pressured.html

[James H]

COWARDS WITH NO BALLS!!!! You delete Kenbot!!! LOL

Daily Bail cowards lol
---------------------------------------
I just did a search for "cowards with no balls". After two pages of results, I stopped counting.

[Zarathustra]

Ken is pissed because he used to spam this site night and day. Ken, tell us who you are and maybe one of DB's readers is close enough to meet you for coffee.

[James H]

.he doesn't try very often anymore...once or twice per day, tops...
--------------------------------
I don't know if this was meant to be a joke, but it made me laugh.

[James H]

I saw some Summers interview last week and he was asked about CFMA and Summers grunted out something about CDS not being a big issue back then and no one foresaw the problems... and of course I was thinking... Brooksley Born you jackass!

[James H]

Here he is. The Kraken awakes!
http://www.youtube.com/watch?v=RIsBekFbIRE

[Zarathustra]

It makes me sick to hear Summers lie and spin the truth. What an ass! Don't forget, he works for Volcker and the Group of Thirty. He talks and looks like he is on painkillers. He is like an evil zombie. It makes me sick, Barry is a community organizer. Guys like Summers and Bernanke must laugh at how stupid Americans are to have voted for Barry. I have said from the beginning, the Group of Thrity is running this show for the central bankers.

[Zarathustra]

That is why Obama is supporting the Geithner rules, oh wait, I mean the Volcker Rules.

[Zarathustra]

You have to look at Volcker as the old ship captain and stop watching the guys shoveling the coal into the furnaces. We don’t know who the super captain is giving the captain his orders, probably someone with the title of lord.

[Zarathustra]

p.s. The Volcker Rule and Rules are clearly stated on the Group of Thirty website. At least the ones they want us to know about.

[James H]

the Kraken.

Have you ever seen a really bad (but good) Irish sit-com called Father Ted? There's an old priest who drinks all the time (whiskey, gin, floor polish -- it doesn't matter). Anyway, the old priest is always sitting around in a stupor or asleep, but one day he wakes up and the head honcho priest makes some smart ass remark about "The Kraken awakes!".

I know, way OT.

[DailyBail]

http://www.channel4.com/programmes/father-ted

you mean this?...can't say that i've seen it...

[James H]

This is it! I'd never searched it before.
http://www.youtube.com/watch?v=-8KisK2zBWE

[DailyBail]

http://www.youtube.com/watch?v=nmfLS1hWO94&feature=related

here's a bit more of kraken

[John]

UPDATE: (on shitty deals)

Goldman loses bid to end lawsuit over risky CDO

http://www.reuters.com/article/2012/03/21/us-goldman-cdo-lawsuit-idUSBRE82K16Q20120321

[snip]

The decision by U.S. District Judge Victor Marrero in New York keeps alive a hedge fund's claims over a $2 billion offering of collateralized debt obligations, amid intense scrutiny over Goldman's activities before and after the 2008 financial crisis.

Marrero said the hedge fund Dodona I LLC may pursue nearly all its claims against Goldman, including that the Wall Street bank recklessly or intentionally sold the Hudson Mezzanine Funding CDOs to offload subprime risk on unsuspecting investors.

"Goldman's sudden -- and prescient -- shift to reducing subprime risk supports the inference that it possessed some unique insight" about the "bittersweet potion" of CDOs it was selling, Marrero wrote in a 64-page decision.

[john]

DB, this is so fucking appropriate...

http://www.youtube.com/watch?v=Sdn3O6aaMNc&feature=iv&annotation_id=annotation_932523

maybe even on the front page here...

[Brian Mallon]

Entertaining? Yes. It's a great little show, and Levin is a fine PT Barnum. I see a lot of indignant scolding going on. What is not apparent is a genuine effort to uncover or prosecute criminal activity. And the best thing about Senate hearings is that after they have 'heard' -nothing is 'done'. Still not ONE prosecution from Team Obama. ...But the grandstanding is grand.