How prosecuting Goldman Sachs' CEO will restore confidence in the market

It was a very interesting story. How the Feds saved GS as they threw Lehman under the bus. So basically, had the government saved Lehman by having a Lehman former supporter in the Paulsen position, the Lehman would be bragging about their stock success and GS would be 13 cents. Oh if only Lehman had hired Paulsen a few years ago. Having worked for Morgan Stanley with a negative outcome, I remember when the change to the Morgan Stanley management in 2007 changed their whole philosophy. At O'neill's direction," we had come late to the building boom and we were creating a department who would pay the brokers a commission for getting people to sign up for a home line of credit with no money attached until you used it." They also pushed their mortgage business. The government supported them also with a bailout and never questioned their management for stupid decisions. I guess

Mr. Willard, I would be careful traveling through the garden state while district attorney take orders from GS for quid pro quo? The D.A will argue you are the most dangerous man on the planet; therefore, you will be denied bail and reprimanded to a south side Chicago warehouse.

cody any possible fraud being commited by paulson on goldman sacks holdings?

Wow. Just wow.

Cody, You and many of your readers here are either idiots or just so angry that you can't think straight. You are just making up crap to justify your job and get your minions all fired up. Do some real research. First of all, the Fed pushed the $10 Billion of TARP money onto GS who didn't want it in the first place. And they paid it back as soon as they were allowed to. Second of all, GS was entitled to payments from AIG because AIG was insuring the GS plays. That is why AIG exists - to insure financial activities. AIG was the guilty company here - just because they couldn't meet their obligations to GS (and many others) and had to get bailed out doesn't mean that GS was ripping anyone off.

You have it right. Personally I would like to see both Blankfein and Paulson hanging from meathooks, but I'll settle for sending both of them to prison for 30 or 40 years.

Cody: Great job! Too many folks are cowed into fearful acceptance of the thieves and traitors in Washington DC and on Wall Street. Obama's change is about all we are left with after this savage looting. We must realize that we are dealing with a bunch of very bad actors. We are so accustomed to financial pillage that we don't understand the currency of power. The allowance of this criminal behaviour is a symptom of an ill-intentioned administration. Obama's agenda is nothing less than the destruction of the American government (the "us" in USA) using financial overload and other tactics learned from his progressive, socialist and yes, communist mentors. We must demand audits starting at the Federal Reserve, prosecution of all the criminals involved (no one is too big to jail) and transparency of the Treasury. We also must demand that no bill may be voted upon until it is fully read, vetted for adherence to the Constitution and debated sufficiently. No more ramming anything through, not even for "emergencies" (or needy friends). These players must account for their misdeeds. Treason is not too harsh a word where it applies; violation of the oath to uphold the Constitution and the trust of "We the people". Thanks again Cody!

You are right and brave to expose these incestuous crooks.But remember Andrew Jackson(two bullets misfired same time) ,Lincoln and Kennedy who dared to go against bankers. Keep up great work but think Kevlar.

Keep it up Cody, I chuckle when I hear people talk about the "Goldman Sachs Conspiracy" it's not some whacko conspiracy, it's the absolute reality of how the U.S. Government and Goldman are operating! Don't you think GS was better off with a failed AIG, would they care to show their firms proprietary book on AIG? The recent theft of a high frequency trading program that "in the wrong hands could be used to manipulate the market", Yeah, cause I'm sure GS would NEVER use it for that. I mean come on people, wake up! The icing on the cake of the taxpayer ripoff is yet to be seen, and that is the pricing on the warrants the taxpayers own and what price GS will be buying them back for, my guess is it will be the ultimate fleecing, but no one seems to care.

clearly goldman sachs is a huge enron like fraud. they should have failed and untill they pay back aig welfare there salaries and bonus should be capped at 100k. but no, now there moving on to a bigger fraud the cap and trade fleeceing of america. the criminals just move on to bigger and better crimes

If you'd like to phone Lloyd Blankfein and let him know how you feel, here's his direct line: 212 357 5047

You are pro small business. Keep it up. We are all listening. YOu are super brave. Keep believing in us. Colette

Hey Cody, quit being jealous, you washed out of the hedge fund business and play the bass in Mike Huckabee's band.

GOLDMAN SACHS Writes To The President.... A LETTER of THANKS. http://pacificgatepost.blogspot.com/2009/07/goldman-sachs-thank-you-mr-president.html ……. And the circus continues, with Taxpayer singing the tune.

Confidence in the market place is currently lost. As you indicated, restoration of integrity can only occur if the main players involved in the financial collapse are replaced and the rule of law is enforced. Only then, we can have a meaningful discussion on new rules to improve the system. It smells of corruption when a company takes handouts one quarter and then takes bonuses the next. Many of the balance sheet manipulations and statements are troublesome to read. The old saying that "power corrupts and abosolute power corrupts absolutely" can be applied here. A good house cleaning would be a great start to our dirty problem. It seems as though the past legacy of using lies of denial with the best of intentions is not to be prosecuted if you are to-big-to-fail. For some reason, this whole business reminds me of Dante's Inferno.

Goldman Sachs got it right! Try Pandit or Lewis if you're up for a lynching.