Watch The Longest 5 Seconds Of Lloyd Blankfein's Life

BLANKFEIN FROZEN IN THOUGHT CRIME

Somehow, I had never seen this clip before today. It's from a Charlie Rose interview in 2012, near the time Goldman Sachs was facing Senate scrutiny for purposefully selling securities (CDOs) filled with worthless mortgage paper to clients around the globe.

Details are here:

Senator To Goldman Exec: 'Boy That Was A Shitty Deal'

Comments

[DailyBail]

The Goldman Sachs Department of Justice™ Would Like to Apologize to Mr. Blankfein for the Inconvenience

http://www.emptywheel.net/2012/08/09/the-goldman-sachs-department-of-justice-would-like-to-apologize-to-mr-blankfein-for-the-inconvenience/

[DailyBail]

What Goldman Sachs Did and the Justice Department Didn’t

http://www.bloomberg.com/view/articles/2012-08-10/what-goldman-sachs-did-and-the-justice-department-didn-t

Columnist Jonathan Weil

[DailyBail]

Senator Levin Slams Department of Justice's Inaction Against Goldman Sachs

http://www.forbes.com/sites/billsinger/2012/08/10/senator-levin-slams-department-of-justices-inaction-against-goldman-sachs/#48b046bb6f02

[DailyBail]

Goldman Sachs Will Not Face Criminal Charges: Justice Department

http://www.huffingtonpost.com/2012/08/09/goldman-sachs-justice-department_n_1762455.html?utm_hp_ref=business

[Cheyenne]

Wow, that pause is pregnant with twin life sentences in prison.

Lloyd, who got his law degree from Harvard, is thinking, "Has the statute of limitations for the criminal frauds perpetrated endlessly at my direction and described by Charlie run yet? How do I work my irrelevant spiel about market-making into an answer for a yes-no question? Can I kill Charlie and the camera man here and get away with it, or does the video feed go into some cloud?"

I always wondered why Lloyd took a break from any media appearances until he finally appeared on CNBC over a year later. This video just might be the reason.

[DailyBail]

Has the statute of limitations for the criminal frauds perpetrated endlessly at my direction and described by Charlie run yet?
---

That's where my head went immediately, though the thought of Lloyd killing Charlie Rose is more entertaining. The part of the story I had forgotten was that after they created and sold the CDOs they went to AIG to insure them, knowing that the securities would eventually fail, which would then blow up AIG.

http://dailybail.com/home/how-goldman-sachs-created-shitty-cdos-sold-them-to-aig-force.html

I'm trying to remember now if they took some kind of a short bet against AIG knowing that they snookered them into insuring worthless paper.

[DailyBail]

How Goldman Sachs Created 'Shitty' CDOs, Sold Them To AIG, Forced AIG Into Bankruptcy, Got A $20 Billion Bailout, Paid Themselves Billions In Bonuses, And Watched As Tim Geithner Covered It All Up

http://dailybail.com/home/how-goldman-sachs-created-shitty-cdos-sold-them-to-aig-force.html

The answer might be in this Bloomberg story.

[DailyBail]

How Tim Geithner Convinced NY AG Andrew Cuomo To Back Off Wall Street Prosecutions

http://www.nytimes.com/2011/04/14/business/14prosecute.html

I had forgotten about this as well.

[Cheyenne]

Here's the key quote from the Bloomberg article:

"Goldman Sachs underwrote $17.2 billion of the $62.1 billion in CDOs that AIG insured"

You have to wonder what the hell AIG was thinking when it sold protection on the very crap it had just bought. I mean, Jesus, wouldn't you be somewhat suspicious if the guy who just sold you a car he built turned around and asked you to sell him a huge insurance policy to cover engine explosions? Wtf?

[DailyBail]

What I'm unclear about is the extent of AIG's ownership of CDOs. I thought they mostly sold insurance (credit default swaps) on the deals. I thought Goldman and other banks who created these securities sold them to other clients. And that AIG was killed because their insurance contracts blew up.

So how much did they own themselves...

[pitchfork]

That was hilarious. I'd never seen that before, either. The point he actually made is perfectly legitimate. BUT... the deer in the headlights imitation stems from the fact that he knows that Goldman was actually shorting/buying CDS on securities they had sold to marks...er, I mean "clients."

[skinflint]

Though the similarities are eerie, this is what this cock sucker should have said. It was probably in his mind, but it was too soon.
http://www.youtube.com/watch?v=Z3sLhnDJJn0

[Sins of the people]

Yes, it IS a problem you jerk-off Blankfein. At that moment he resembled a little bald alien with glassy eyes, right before he started killing people.