Tuesday, April 20, 2010

Goldman Followed The Producers Plan: You Make More Money by Producing a Failure Than Success

Breaking News Cuomo Charges Espada For ‘Looting’ Soundview * Espada to be hit with civil action from attorney general* Cuomo's Espada Complaint * Inspector general questions Paterson on Aqueduct deal
Goldman Followed The Producers Plan

You Make More Money by Producing Failure Than Success

Who would have ever thunk, Mel Brooks is responsible for Goldman destroying millions of jobs and costing millions of American their homes. Brooks wrote The Produces which had failed Broadway producer Max Bialystock and his accountant Leo Bloom figure out they can make more money with a play that closes on opening night that a successful long running success. All they had to do was sell every little old lady investor 100% percents of the play.

We knew Brooks is a comedy genius, who knew he would give Wall Street a plan which lead to the financial melt down of the nations economy. Like Brooks's producer Bialystock Goldman came up with the idea that a failed product would make more money than successful one. Goldman put together with hedge fund billionaire Paulson a pot of bad mortgages they know would fail just like the producers. Bialystock sold the illegal share to little old ladies without telling them he was overselling the play. Paulson and Goldman sold their failed subprime mortgages pools to teacher, fireman and city workers pension funds without telling them them that the hedge fund they were buying from had taken out insurance with AIG that the subprime mortgages they were selling the pension fund would fail. (it will be interesting to see if politically connected money managers like Hank Morris sold their shares to Paulson and Goldman)

The way Goldman is trying to rewrite the producers script is after Bialystock and Bloom plan unraveled and became public they when to jail. Goldman is saying that the rules that govern what they did are not clear cut A Difficult Path in Goldman Case Legal experts spin in the press that the case against Goldman would be difficult to prove in court. Goldman says it was not legally required to provide any information to the investors, because Goldman found the buyers without offering them on the open market. Is that were the pension funds and politically connected money managers fit in? What ever happens to Goldman what is very clear is that little old ladies did not lose any money in Brooks' play. In what Goldman and other did according the SEC millions lost they jobs, homes and a lot of little old ladies pension funds were looted.

Obama Punches Wall Street
Bloomberg To Obama: Don’t ‘Destroy’ Wall Street

The president will be in Manhattan Thursday to pitch reform and deliver yet another tongue-lashing of the financial industry * In advance of his boss’ arrival in New York, White House chief of staff Rahm Emanuel pitched some of the city’s top investors on reform. A Goldman managing director was among the attendees * Mayor Bloomberg, who isn’t a big fan of increasing Wall Street regulations, didn’t get a heads-up from the White House about Obama’s visit, and his invite to the speech came after the fact. Dem Web war on Sachs * O to hit Street runnin' NY reform push * A split decision Investors yesterday eased their assault on Goldman * A Finance Overhaul Fight Draws a Swarm of Lobbyists* * Goldman Sachs Earning Double Amid Fraud Case * Googling "Goldman Sachs SEC" leads you to Obama's web page, which, the Post says, means the White House paid for those keywords.

Bloomberg Found Out About Obama's Upcoming Visit 'On The Blogs' * Bloomberg annoyed to be kept out of loop on Obama trip to NYC * Last night the mayor was invited to Obama's speech on Thursday * Bloomberg: What, me worry? * Paterson: Stop Beating On Wall Street * White House: Bloomberg Did Get A Heads-Up On Obama Visit * Bloomberg Roots for Wall StreetThe Mayor remembers the Titans, at any cost (Robbins Village Voice)

Bloomberg Pushes Back Against Obama Bloomberg’s Mayors Against Illegal Guns group is launching a six-figure media campaign today to push for background checks at gun shows.

Facebook Joseph Mercurio If the administration in Washington and the Democratic leadership are not pushing gun restrictions and Obama has actually loosened rules why are advocates carrying handguns, rifles at rally in DC?

Did Rupert Murdoch Cost The Wall Street Journal The Goldman-SEC Scoop

California AG Going After Rating Agencies As Part of the Pension Investigation Calif. AG claims Moody's won't comply with probe (LA Times) * Stop ... Ignoring ... Me! Calif. AG Pressing Moody's for Response to Subpoena

Why are the Local Pols
Not Part of the Lawsuit Against St. Vincnt's
Where is Speaker Quinn and others leadership in fighting for the survival of St. Vincent's Hospital? Civil Rights Lawyers Plan to Fight Closing of St. Vincent's Hospital (WINS) * Civil rights lawyers try to stop St. Vincent's closure (WABC) * St. Vincent's Announces 1,000 Layoffs; Lawsuit Planned * St. Vincent's Reaches For Life With Lawsuit

John Liu's In Charge
Joins Al Haig's Neverland Forget Michael Jackson the new resident of Neverland is NY Comptroller John Liu. With all the convictions with the pension fund rip off managers and investors and the still unknown story how Goldman and other massive banks looted the pension funds Liu after just three and a half months in office wants more Power. John Liu shows his inner Al Haig Comptroller John Liu is out with his five-point plan for what the Charter Revision Commission should consider as it finishes its first public hearings in Brooklyn this afternoon * Liu to Charter Commission: More Power, Please
Council Slush Fund Goes Nowhere Christine, meet Bill: Why didn't De Blasio demand dope on Council slush fund?

NY Corruption Even in the Theater Report Finds Corruption in N.Y. Theater Group

Pay to Play Pension Lobbyist
Hoffman Slaps Owens On Global

Rats Take Over New York?
Pest control workers union fears city will be overrun with rats after Bloomberg cuts 57 of 84 jobs * Police Cuts Hurt Prime crime time: EVERY category jumps One Education Need Chancellor Joel Klein wants substitute teachers, who cost the city $134M, axed after one year
Pay to Play Albany
New probe leaked to smear me: Espada *Espada’s counsel, Steve Pigeon, who is also implicated in the latest federal probe, hired an attorney. * 'Job-sell' flap in Assembly A longtime maintenance supervisor in the Democrat-controlled Assembly has been fired amidst a criminal probe of the alleged sale of state jobs * State lawmakers passed a third round of bare bones budget extenders, which will keep the state running through April 25 * A fight over property tax relief is contributing to the delay in a budget deal * State Senate President Malcolm Smith pushing for $500,000 deal with ex-drug pushers * Espada said he has "no relationship" to A-1 Multi-Service LLC * GOP: A Democratic Corruption Trifecta! * Espada Fires Back at Cuomo * Espada Trashes, Bashes, Smashes At Cuomo

Paterson Lawyered Up
Gov. Paterson in town to see criminal defense lawyer Theodore Wells Paterson, according to sources close to him, has yet to be interviewed by probers looking into whether the governor improperly interfered in a domestic violence case (DN) *Inspector general questions Paterson on Aqueduct deal
Law and Order Trial Opens for Ex-Officer Accused of Shoving Bicyclist * NYPD refuses to release 'Dating Game Killer' pictures * NYPD Intel Division not going soft on public events like pillow fights * Search continues for little girl's shooter * Alleged Gambinos rounded-up for series of crimes dating back to 1980s

Reform Gov hopefuls sign redistricting commission pledge * Albany Candidates Back Nonpartisan Redistricting * Ed Koch offers up a fix for Albany * Koch is aiming to do away with a key part of the incumbency protection program: Politically-controlled redistricting * Dozens of community board members in Queens were missing in action for more than half the meetings in 2009 *

Four Candidates Promise Impartial Redistricting Of Legislature in 2011 (Henry Stern NY Civic)

MTA Shutting Down?
CBS 2 HD Uncovers Hidden Dangers On NYC Subway * NYC Prepares to Cope with Bus Changes

The Court, Money and Politics After the damage it did in the Citizens United case, the Supreme Court should not strike down the ban on soft-money donations to political parties. (NYT Ed)
Pay to Play Marriage The deputy clerk of the scandal-tainted Bronx marriage license bureau was fired amid on ongoing investigation.

Breast in show
"Adele used to talk to me so openly about her breasts," onetime NY1 education reporter Jeff Simmons told jurors. Rebecca Spitz, the station's Manhattan reporter, also testified, describing Sammarco as always writing down "perceived injustices." * Ex-reporter testifies Adele Sammarco 'would talk to me so openly and candidly about her breasts' Jeff Simmons' stab at a practical joke - which led to colleagues plastering the newsroom with the embarrassing photo - has become Adele Sammarco's strongest argument that she was sexually harassed at the cable news station * Former Gov. Eliot Spitzer asked that his name be removed from the Manhattan bank document that ultimately brought him down * Routine document, extraordinary outcome Spitzer's request to leave his name off transaction sparked bank to file report that led to his downfall

Charter Commission The Charter Revision Commission will hold a hearing today at downtown Brooklyn's St. Francis College at 4 p.m. Media and New Tech Riders on the Storm The growing belief that the Internet has led to an increasingly fragmented and polarized media market may be contradicted by new research. (Brooks NYT) * Oprah bashes Kitty Kelley's 'so-called biography' * Kelsey Grammer jumps on Fox News competitor, RightNetwork * RENEWED! Comedy Central Locks Stewart, Colbert Through 2012 Election * $43 MILLION MAN: CBS CEO Salary Doubled In 2009 * For Apple, Lost iPhone Is a Big Deal * 3G-enabled iPad arrives April 30 Macworld * Daily Mail Online: Why We're Staying Free * Bernie Goldberg Admits: Jon Stewart Was Right About Fox News (VIDEO)Terrorism Gates' nuclear bomb: Defense secretary's plain talk on Iran wowed Washington * Page Six wonders who leaked the Gates Memo.