Thursday, May 20, 2010

Goldman Sachs Fraud & CDOs

I have covered on the Radio Show the on-going subject of SEC civil accusations and Justice Department criminal investigations into Goldman Sachs accusations that it misled investors with respect to the Abacus collateralized debt obligations that it helped bundle, sell, and then shorted them, because they were designed to fail.  I have not written about it, because I do not like just repeating what others have to say.

If you want to get a good, in depth feel for what Goldman Sachs is accused of doing and how it conducts business, Felix Salmon has done extensive posts on the subject.  If you go to his blog and type in "Goldman Sachs fraud" in the blog search box, you will find a list of articles.  You can also search for "Abacus".  You could also search the blog naked capitalism for the same subjects plus "Magnetar", which is a Chicago hedge fund that managed to sell investments which dramatically and consistently tanked.

If you want to understand how CDOs work and how they were used and how their sale may have been misleading in how they were packaged and sold in the Abacus offering, you should use the blog search at interfluidity, which describes these CDOs in technical detail.


Print Page

2 comments:

  1. THE GOLDMAN SACHS GANG

    BREAKING NEWS

    GOLDMAN SACHS CAUGHT RED-HANDED!!!!!!!!!

    GOLDMAN SACHS ASSUMED I EXHAUSTED ALL OF MY EFFORTS TO STOP A WRONGFUL FORECLOSURE ON THE AUCTION BLOCK FOR 1-4-10. GOLDMAN SACHS HURRIEDLY AND SECRETLY ASSIGNED A 2ND DEED OF TRUST (Recorded Date of fraudulent Assignment 12/30/2009) AND CREATED A FALSE 2ND DEED OF TRUST (Not recorded, Never existed) FOR $118,800. (Click on Fraudulent Goldman Sachs Assignment above)

    I ONLY HAVE A 1ST DEED OF TRUST WHICH IS APPROX. 1 MILLION DOLLARS. I NEVER HAD A 2ND DEED OF TRUST ON MY PROPERTY. THE RECORDED FRAUDULENT ASSIGNMENT IS SIGNED BY A GOLDMAN SACHS EMPLOYEE, JOHN CRANDALL (CHECK THIS OUT: http://livinglies.wordpress.com/2010/04/02/john-crandall-litton-mortgage-promiss-solutions/)

    I DISCOVERED THIS CRIMINAL ACT WHEN I HAD A TITLE SEARCH RAN ON MY PROPERTY LAST MONTH DUE TO THE COMMUNITY PROPERTY ISSUE CAUSED BY GOLDMAN SACHS. UNBEKNOWNST TO ME, I FOUND THE “SMOKING GUN”.

    THESE LAST MINUTE FALSE ASSIGNMENT SCHEMES ARE DONE BY ASSIGNING FALSE DOCUMENTS FROM THE TRUE MORTGAGE HOLDER IN ODER TO OBTAIN THE PAYOFF FUNDS AT THE AUCTION BLOCK ONCE THE PROPERTY IS SOLD. THE STATE OF MASSACHUSEETS IS INVESTIGATING AND INDICTING THESE TYPES OF SCHEMES HEAVILY DUE TO THE “KATRINA LOANS” THAT GOLDMAN SACHS LEFT THEM WITH.

    WHY GOLDMAN SACHS IS CAUSING ME HARM AND COUNTLESS OTHERS. IT’S PURE GREED! IT LOOKS LIKE THE MILLION DOLLARS THAT GOLDMAN SACHS MADE ON THE CREDIT DEFAULT SWAP FROM FORCING MY LOAN TO DEFAULT ON 5-11-09, MAY HAVE RUN OUT.

    I HAVE BEEN IN LITIGATION WITH THESE CROOKS, SPENDING THOUSANDS OF DOLLARS IN ATTORNEYS FEES AND HAVE BEEN PROVIDED WITH MOCK HEARINGS SINCE FEB 2009, TRYING TO SAVE MY HOME.

    WE NEED SOME JUSTICE HERE! OBAMA, I’M DISAPPOINTED IN YOU, WHAT ARE YOU DOING?
    Visit my blog at http://bushnellcomplaint.blogspot.com/ to see the pending case information.

    ReplyDelete
  2. The above appears to be on-going litigation and the reader should view the detailed information at the above web address to form your own opinion as to merit.

    I have, on several occasions, commented on Federal and some State court decisions which have thrown out foreclosures because the mortgages had not been changed to reflect the correct owners after being transferred via a derivative bundle.

    Felix Salmon in a post today comments on a Litton withdrawal from foreclosure:
    http://blogs.reuters.com/felix-salmon/2010/05/21/good-news-friday-litton-withdraws-in-ohio/

    ReplyDelete

Share This