{"id":189165,"date":"2010-05-13T09:36:00","date_gmt":"2010-05-13T14:36:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/05\/13\/it-aint-just-goldman\/"},"modified":"2010-05-13T09:36:00","modified_gmt":"2010-05-13T14:36:00","slug":"it-aint-just-goldman","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/05\/13\/it-aint-just-goldman\/","title":{"rendered":"It Ain&#8217;t Just Goldman"},"content":{"rendered":"<p>You are no doubt aware of the SEC, and criminal, investigations of Goldman Sachs misleading investors by selling them bad CDOs, and then betting against the instruments.<sup>*<\/sup><\/p>\n<p>Well, it appears that practice may have been more common than previously understood, because <a href=\"http:\/\/www.nakedcapitalism.com\/2010\/05\/morgan-stanley-under-criminal-investigation-for-alledgely-using-cdos-to-bet-against-clients.html\">Morgan Stanley is under criminal investigation for similar activities<\/a>.  (see also <a href=\"http:\/\/www.cnbc.com\/\/id\/37101171\">here<\/a> and <a href=\"http:\/\/online.wsj.com\/article\/SB10001424052748704250104575238680672738838.html?mod=djemalertNEWS\">here<\/a>)<\/p>\n<p>The CDOs in question were named after dead presidents, James Buchanan and Andrew Jackson were two of the names, but they appeared to have been referred to generally as &#8220;Dead Presidents.&#8221;<\/p>\n<p>Seriously, these guys watched the movie <span style=\"font-style: italic;\">Wall Street<\/span>, and they though that Gordon Gecko was a Christ figure.<\/p>\n<p><sup>*<\/sup><span style=\"font-size:78%;\">Earlier posts on Goldman Sachs&#8217; alleged misdeeds <a href=\"http:\/\/40yrs.blogspot.com\/2010\/04\/breaking-vampire-squid-charged-by-sec.html\">here<\/a>, <a href=\"http:\/\/40yrs.blogspot.com\/2010\/04\/correction.html\">here<\/a>, <a href=\"http:\/\/40yrs.blogspot.com\/2010\/04\/1550-on-what-goldman-sachs-did.html\">here<\/a>, <a href=\"http:\/\/40yrs.blogspot.com\/2010\/04\/no-this-is-not-joke.html\">here<\/a>, <a href=\"http:\/\/40yrs.blogspot.com\/2010\/04\/damn-when-goldman-gets-update-post.html\">here<\/a>, and <a href=\"http:\/\/img297.imageshack.us\/img297\/8209\/imgad0035607.jpg\">here<\/a>.<br \/><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>You are no doubt aware of the SEC, and criminal, investigations of Goldman Sachs misleading investors by selling them bad CDOs, and then betting against the instruments.* Well, it appears that practice may have been more common than previously understood, because Morgan Stanley is under criminal investigation for similar activities. (see also here and here) &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[970,1004,972],"tags":[],"class_list":["post-189165","post","type-post","status-publish","format-standard","hentry","category-corruption","category-finance","category-justice"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189165"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=189165"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189165\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=189165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=189165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=189165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}