Goldman Sachs Passion Play Misses The True Crime

While the entire even minimally politically aware citizenry of the United States is on overdrive due to the far-reaching events of this past week with respect to the war zone conditions that are more than apparent in the border states and particularly Arizona over the illegal immigration situation, with those on the East Coast per a Saturday Night Live News segment slamming the state, while being totally ignorant of what actually led to the actions taken by the state government to begin with, there has been more afoot on the Eastern Seaboard.

Such is the insulation in this country, and lack of a national identity at this point that those not directly affected by the porous southern borders and drug cartels doing business cross borders almost unimpeded for the past thirty years, have once again attempted to minimize the impact on those victims, rather than putting pressure on the federal government to actually do their jobs and get our southern borders secured FOR ALL.

This week, however, another drama is being played out in the media which also majorly impacted those living mostly in the West and Southwest and Sunbelt states (the states with the continuing foreclosures, which are increasing by the month) and that is the hearings being conducted over the Goldman Sachs securities fraud.

Little connection, however, or reporting has been forthcoming insofar as just who were the actual true victims in the Goldman Sachs fiasco.

And it was not primarily the investors of those CDOs which were pawned off on them by Goldman Sachs knowing full well that those collateralized loans were junk, and that one of their major clients was hedging their bets though derivatives in the process.

After all, Goldman Sachs is the Cadillac of investment houses and most of their clients are not neophytes but savy investors, or at least minimally aware of risk when making some of those investments.

I mean, these investors were playing the market, after all.

In fact, there are quite a number of Goldman Sachs investors who, I'm sure, invest for the tax writeoffs they receive for losses on some of those investments.

Although mere disclosures also of the risks for most of these investments is clearly inadequate for many, due to the legalese with which most prospectuses and other investment documents are written to begin with.

And selling your investors down the river for a favored investment client firm is not good business practice, nor is it legal in the sense the founders intended irrespective as to whether or not there are codified laws allowing mere disclosure as a protection for these huge Wall Street banking firms in order to mitigated their potential losses since Wall Street is pretty much left alone by the SEC and Congress more and more while the investment grades and risks are becoming greater and greater, for the average American individual investor, that is.

In fact, I would simply state that Goldman Sachs had a huge ethical problem, and conflict of interest actually, in order to win favor with one client at the cost of so many others and can not understand for the life of me just how that would not have been in violation of at least several SEC or United States Code provisions.

But the true victims actually are the American homeowners mostly in the West and Southwest who were sold most of those bad loans which Goldman Sachs has admitted full well knew were bad while they were unloading them.

People who were first time homebuyers, or who were forced into refinances in those states due to the rising costs of ownership during that very short boom cycle, many of whom also were owners of homes during a similar scenario involving Charles Keating in the 1980's - who was selling risky investments to elderly retirees in also the West and Southwest and who ended up losing their homes and everything they had when Lincoln Savings & Loan went bust.

Many of these risky and bad CDO's were also guaranteed by Freddie Mac and Fannie Mae.

We all know what happened then since it is and has been the American people who are also bailing out those two entities, all for Goldman Sachs' investors, since the homeowners whose loans were involved and their interests are far down the list and in which at this point for many actually have no underlying debt, as it were, since they were resold.

AND the American people were billed for cash advanced literally in the millions directly to Goldman Sachs (a part owner of our own Federal Reserve actually, according to several reports), so actually it appears Goldman Sachs was using Congress to write themselves their own checks, while billing then those costs to the American public at large on their investors behalf.

And yet it is and was the American homeowners who are still being threatened by these banks and lenders in bed with thsoe Wall Street wheeler dealers and Washington, and few have been able to refinance under more favorable terms since Congress has yet to address the actual terms of those bogus contracts to begin with.

In fact, most of Congress and Obama's attentions have been in attempting to hawk refinances instead to get more and more Americans, it appears, into some of those bogus loans in order to use to pay back some of these investors, apparently.

Or for those "new" jobs created in the mortgage industry of now "mortgage counselors" to settle those debts with those investors by renegotiating the terms of those loans as the middle man with those homeowners, weighing the cost/benefit against foreclosing on the property and reselling it as to which would get those investors and those banks affiliated with Freddie Mac and Fannie Mae more.

Many of those loans, of course, were sold through California lenders which were not even based on the U.S. currency, but on the British LIBOR rates.

In the banking industry, the connections between New York and Wall Street and California and those mortgage bankers is strong.

After this week's bust and play acting by the Senate with respect to any true financial sector/Wall Street reform, I'm wondering when those in Washington will get around to addressing the fallout to the true victims of this passion play.

The American people, and mostly those American homeowners in the West and Southwest which New York and its brash comedians maligned in a roundabout way once again last Saturday night.

Watch Washington give Goldman Sachs a lengthy tongue lashing, as what occurred today by selected Senators needing some face time with the media for the upcoming elections, and then purportedly levy a heavy fine.

While the true victims continue to lose their homes, jobs and even lives in the West and Southwest due to Washington's continued political maneuvering protecting the bankers and appeasing the foreigners while raping the citizenry.

Mr. Cantor: Financial Services Bill Misses The Regulatory Mark

According to the mainstream media (which is so reliable at this point as a news source, sort of like many of the purported "global" citizen journalism sites funded by government grants at the taxpayer's ultimate expense with their propaganda also), Eric Cantor, that "Republican" from Virginia, is in Chicago bad-mouthing the intent of Obama's weak-kneed aims to somewhat rein in the financial sector under a purported Financial Services Bill.

At this point, it does seem to this American sort of like attempting to close the barn doors after the horses have escaped, where so much federal negligence was involved which contributed to the loss of homes and jobs of the legal Americans, while all actions now of Congress have been to escalate, rather than reduce, the impact their negligence created with Washington's symbionic relationship with the global bankers and financial wheeler dealers on Wall Street.

Or at least those global socialists in the U.S. that believe it is America that is destined to remain and continue as the police force of the world, for Europe, Israel or a host of other nations whenever they receive any "terrorist" threat from an "unfriendly" nation in that country's definition, rather than as the protector of American lives, individual freedoms and domestic focused livelihoods.

Mr. Cantor's concerns, of course, as one of the Global Socialists also on the Hill now in power is that such a bill would tie the hands of those Wall Street financial services global conglomerates, forcing them to then go to China for their funding.

His concerns also are for the claimed "American" investors, rather than the global ones which it is apparent are his foremost concerns in most of his comments, and their then confidence in Wall Street, so again it is the financial sector's whose interests he is most concerned with and its viability under his nebulous concepts of capitalism, rather than Constitutional government.

Since, of course, China is hardly our primary benefactor but instead it is the world bankers who basically run the entire world's economy through their various governmental subsidiaries in all but about six nations of the world - the Fed and the U.S. included since the bogus Federal Reserve Act was "passed" in 1913 by a rogue president and Congress, along with the 16th and 17th amendments which were in essence, as with the recent Health Deform legislation, written and passed without even a quorum of Congress and "behind closed doors."

China is the U.S.'s greatest beneficiary, in fact, in the jobs that have been outsourced to that country also progressively under the Global Socialists and their bankers without any modicum of regulation or taxation for all that foreign bought labor at the American public's ultimate expense in propping up foreign economies once again at the cost of America's and Americans' own.

So it is once again the global investors that are the primary focus of the objections of the other branch of the Global Socialist Party, the Republicans, which is now getting media play.

Mr. Cantor, how about being concerned with the American citizens, you know those citizens now that are jobless and homeless due to Washington's progressively unconstitutional "hands off" attitudes with respect to foreigners and foreign investment in this country, which is undermining the entire fabric of this representative government that those founders created?

Such talk at this point by the Obama Administration does appear to be so much rhetoric, and definitely aimed at attempts to hold off the anticipated losses of those Global Socialst Democratic seats that are now on the line due to the continuing outrage of the American people with both the outsourcing and insourcing which has caused the American people loss of jobs in the literally millions at this point.

How about ripping those charters out from under those banks in the West and Southwest that the FBI is purportedly investigating, but at a snail's pace, of those lenders such as Indy Mac, Bank of America and Countrywide who were selling loans in this country to the American people during that short boom who were forced into refinances due to the escalating costs of ownership that were not even based on the U.S. currency, but on the British one?

How about mandating that any and all executive compensation packages and bonuses must be approved by the uninvolved stockholders and shareholders, especially for those companies whose expenditures for such sums have caused those major global corporations, some not even domiciled in the U.S. such as AIG, to be the recipients once again of the American people's largesse, who are progressively being bankrupted by Washington with such moves?

How about rescinding that former bogus Act of Congress of many years ago which also lead to this that also then attempted to preclude the state governments from actually doing their jobs, and regulating those banks and lenders engaging in intrastate commerce within their own state borders?

How about saving the taxpayer's some money for all those travel expenses that those in Washington also bill the American taxpayers for these road trips, and actually start doing your jobs?

Like maybe cutting the expenses also for the greatest expenditure now, the continuing War on Terrorism, while not seeing the true threat and looking the other way while Wall Street continues to sell shares on the global exchange of America's nuclear reactors and generators, and infrastructure compromising the safety of then the entire population of this country in the process in the guise of capitalism but which is nothing more than treason?

The next job stimulus in my opinion for all those new jobs created in the financial sector once again by the Bush/Obama Administration in the collection and foreclosure industry should mandate that these corporate collection vipers begin making some international calls, and calling in those markers for all that foreign aid which has been given progressively to Israel, France or any number of other nations to set up some repayment schedules for that debt, including the present costs with this continuation of this now clearly "Global War on Terror" for which is it merely Americans by and large risking their lives

I mean just where are those "matching sum" of troops from Israel, Great Britain and Franch in this escalating and ongoing nine year Global War primarily on their behalf at this point?