1. The way you get screwed by Wallstreet which has only one utter purpose to screw its clients and shareholders ( although the employees are sizable shareholders themselves). First the famous Goldman who did not loose for it self on one single day last quarter although we had some volatility - which is by any probability impossible to achieve.
In the second sample Private Equity unloads their risk on the public and the Wallstreet banks sell again bullshit to the public as they did with CDO's and almost anything they unload like in the insane Tech-bubble - used car salesman are saints compared to them. That is the same Goldman which Obama, Buffett and Clinton finds to be a firm which does no wrong. In hell the VIP floor of Goldman will welcome them with special treats I guess.

excerpt 1

Goldman Sachs Hands Clients Losses in ‘Top Trades’

May 19 (Bloomberg) -- Goldman Sachs Group Inc. racked up trading profits for itself every day last quarter. Clients who followed the firm’s investment advice fared far worse.

Seven of the investment bank’s nine “recommended top trades for 2010” have been money losers for investors who adopted the New York-based firm’s advice, according to data compiled by Bloomberg from a Goldman Sachs research note sent yesterday. Clients who used the tips lost 14 percent buying the Polish zloty versus the Japanese yen, 9.4 percent buying Chinese stocks in Hong Kong and 9.8 percent trading the British pound against the New Zealand dollar.

excerpt 2

Private Equity-Backed IPOs Leave Buyers With Worst 2010 Returns

May 19 (Bloomberg) -- Initial public offerings from U.S. companies backed by private-equity firms are losing money for investors for the first time in at least a decade, making them the worst performers in 2010’s IPO market.

The 13 offerings by private-equity funds have fallen 2 percent in the first month of trading after averaging gains every year since at least 2001, according to data compiled by Bloomberg and Greenwich, Connecticut-based Renaissance Capital LLC. The IPOs have also lagged behind the Standard & Poor’s 500 Index, while companies without support from buyout firms have beaten the benchmark gauge for U.S. stocks by 5.8 percentage points after their initial sales.

2. Well the corrupt DC especially the finance committee's who are a cynical charade as their speakers work for Wallstreet and nobody seems to care. Basically Sanders admitts that there is no democracy anymore - after all I do not buy the pathetic argument that lobbyists can stop a prudent Senator or Congressman from voting the right way. The publically admit that they are corrupt and still they can walk the streets - the world has become a bunch of whimps and tv - porn addict zombies who are easy to control and manipulate it seems.

Ratigan And Sanders "We're An Oligarchy And It's Getting Worse"

Submitted by Tyler Durden on 05/19/2010 04:49 +0300

Dylan Ratigan and Berney Sanders do a great summary of the various parallel amendment attempts to put some teeth into Dodd's joke of a bill. Ironically, as misguided as it is in most regards, at least Merkel's "reform" showed the kind of conviction that Dodd and his mostly incompetent colleagues will never be able to muster, as they scramble all over each other to collect the scraps that Wall Street has promised them so long as Goldman can generate annual revenues of $60 billion and above. And since our politicians would make the Amsterdam Red Light district blush, you can bet the end results of the Senatorial corruption will be unprecedented, resulting in a bill that achieves the opposite of what it is intended to do: i.e., make banks even stronger and gives the Fed even more power. Which is why any debates about the merits of Merkley-Levin or blah-blah are pointless. The only final arbiter in the reg reform issue will be the market itself, which will resolve everything the second it crashes once and for all. And judging by the size of the carry unwind currently occurring, we may not have to wait long. Which is why we think that Angela Merkel may have brought about the unwinding of the market that will be the one real catalyst to any real reform: after all, for people to express any interest in what is going on in Wall Street's Washington branch, people will have to lose everything... again. As Senator Sanders says, the American people have got to stand up. He is right, however the only thing that will wake America out of its slumber will be one more terminal crash, the one that corrupt and busted finreg reform was supposed to prevent.

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by anynonmous
on Wed, 05/19/2010 - 05:18
#359681

Is that the same Sanders that skewered Ron Paul's bill?

Ron Paul regarding the Senate Audit the Fed bill:

Bernie Sanders has sold out and sided with Chris Dodd to gut Audit the Fed in the Senate. His “compromise” is what the Adminstration and banking interests want: they’ll allow the TARP and TALF to be audited, but no transparency of the FOMC, discount window operations or agreement with foreign central banks. We need to take aciton and stop this!

…

I am outraged. The Senate just voted down the Vitter Amendment and against a real audit of the Federal Reserve. My entire team and I are going to work very hard to make sure the American people know who voted right, and who voted with the banking special interests.

http://www.facebook.com/ronpaul/posts/119856744705368

http://www.facebook.com/ronpaul/posts/116341661738265