Latest Comments




    APRIL 12, 2012



    Today the Huff Post reported on the latest Goldman Sachs criminal enterprise Houdini escape from prosecution.

    Sure, nothing new here, just the same old run of the mill illegal activities that you or I would go to jail for. In fact,

    people have gone to jail for insider trading,  but not Goldman “Houdini” Sachs.  Not Lloyd “I have no idea what happened” Blankfein.  Jail for them, why they are doing God’s work. You wouldn’t jail a guy for doing God’s work, would you?



    When the fines never fit the crimes, we all witness the repetitive childlike result of no consequences.   A $22 million dollar agreement with Goldman for what is certainly insider trading by the SEC announced today wherein Gold-man Houdini Blankfein “neither confirms nor denies wrongdoing” is yet another example of crime pays.


    A number of repeat offenses compiled by the New York Times for these SEC deals is mind-blowing.


    “Huddles” information was shared with  “a select group of Goldman’s top clients” under a program called the “Asymmetric Service Initiative,” or “ASI.” I want to know who the “clients”
    were, don’t you?  No doubt the ASI clients were names we all know well and part of the criminal enterprise we call our financial system.


    From the SEC: “Between January 2007 and August 2009, there were hundreds of instances when a ratings change occurred within five business days after the stock was discussed at a huddle, referenced in a huddle script …”


     (See also “Another SEC Sweetheart Deal: Five Reasons to be Outraged.”)


    Richard (RJ) Eskow, a consultant and writer (and former insurance/finance executive), is a Senior Fellow with the Campaign for America’s Future and the host of The Breakdown, broadcast Saturdays nights from 7-9 pm on WeAct Radio, AM 1480 in Washington DC.


    Leave a Reply