Simply Unbelievable In-Your-Face Multi-Billion Dollar Corruption

Simply Unbelievable In-Your-Face Multi-Billion Dollar Corruption

I just found this and it defies belief. There just are no words...

We're all very familiar with the corruption involved around the mortgage fraud that caused the housing market collapse in 2008 which ultimately destroyed our economy and put us in the dire financial straits we're in today. Many of the big banks have now been convicted of fraudulent crimes during that time and are paying fines and settlements amounting to billions of dollars. Goldman Sachs was just one of the big banks that were convicted. It was announced about 2 weeks ago that they reached a $3.4 BILLION settlement for their role in that scam...

Goldman Sachs will pay $US3.15 billion ($3.41bn) to resolve claims it misled Fannie Mae and Freddie Mac on mortgage-linked securities it sold them before the US housing bust.

G oldman Sachs to pay $3.4bn fine

Now comes this news...

Today it was announced that the state of New York is giving Goldman Sachs $2 BILLION of the New York Pension Fund to "invest" on their behalf. What this means is that New York is giving a convicted criminal bank the hard-earned retirement money of New Yorkers to gamble on Wall Street with!

(Reuters) - A New York state pension fund has given Goldman Sachs Group Inc (GS.N) $2 billion to invest with outside managers, Goldman and the fund said in a statement on Wednesday, a first for a fund that has traditionally picked managers itself.

Officials in charge of overseeing the $180.7 billion New York State Common Retirement Fund wanted to invest more in markets outside the U.S. and decided it was best to outsource the task to a company that had the skills and resources to put money to work quickly, staff in the New York comptroller's office said.

Goldman and the pension fund declined to comment on fees.

NY pension fund enters $2 billion investment venture with Goldman Sachs

I am utterly speechless that people will allow this to happen. Like I said, it defies belief and I'm sure this will make a lot of people happy when they steal their retirement money.

You honestly didn't think anything had changed since those "fines" and "settlements" did you? When Goldman Sachs earns $9 billion in 4 months and banks are allowed to deduct these "fines" off their taxes, obviously it's more of the same. Heh.

That is just over one percent of the fund. Nothing to worry about. This is for international investment. Goldman Sachs probably already has a lot of their pension fund in their regular investment packages.

Just to put things straight. You cannot convict a bank, you can only convict people. That's part of the problem really isn't it ! Nobody ever gets convicted, just blame the bank as a whole and don't name names ! They then get away scott free and the hoodwinked public end up with paying their fines.

originally posted by: sayzaar
Just to put things straight. You cannot convict a bank, you can only convict people. That's part of the problem really isn't it ! Nobody ever gets convicted, just blame the bank as a whole and don't name names ! They then get away scott free and the hoodwinked public end up with paying their fines.

Ok now I'm confused. Last I heard corporations won the claim that they are people and have the same rights as real people, yet they can't be convicted of crimes like real people? They want their cake and eat it, too. *NOTE: Actually, I'm not the least bit confused about that. I see very clearly how ludicrous it is. The thing that really confuses me is how people just sit back and ALLOW these things to continue day after day knowing full well how wrong it is. Stop the planet - I want off!

a reply to: LrdRedhawk

Yes! It is an in-your-face deal.

All us peons need to do is connect the dots of the Clinton family, New York, and Goldman Sachs. The connections are tightly screwed together. Politics and Wall Street.....you scratch my back and I'll scratch yours.

Goldman—the firm has donated between $250,000 and $500,000 to the Clinton Foundation—prompts an obvious question: Can the former secretary of state cultivate populist cred while hobnobbing with Goldman and pocketing money from it and other Wall Street firms? Last year, she gave two paid speeches to Goldman Sachs audiences. (Her customary fee is $200,000 a speech.)

Hillary Clinton's Goldman Sachs Problem