[OTE51] Max Keiser & Karl Denninger on Wall Street Fraud

Stacy Summary: On the Edge with Max Keiser. And Karl Denninger. Max and Karl look at the SEC fraud charges against Goldman Sachs; the role of synthetic CDOs, ACA and regulators.

121 comments on “[OTE51] Max Keiser & Karl Denninger on Wall Street Fraud
  1. Marc Authier says:

    United Kingdumb 10 times bigger. Ireland too.
    And Spain’s problems 6 times biggers than Greece’s problems.
    The euro is history. So is the pound.

  2. Bonn says:

    As the U.S. housing turned downward in January 2007, a Goldman Sachs trader wrote in e-mails to a woman he apparently was courting that investments he had sold were “like Frankenstein turning against his own inventor.”

    “I’m trading a product which a month ago was worth $100 and today is only worth $93,” wrote Fabrice Tourre, who was charged along with the bank in a civil complaint filed this month by the Securities and Exchange Commission. “That doesn’t seem like a lot but when you take into account … (the investments) are worth billions, well it adds up to a lot of money.”

    “Of course we didn’t dodge the mortgage mess,” CEO Lloyd Blankfein wrote in a message dated Nov. 18, 2007. “We lost money, then made more than we lost because of shorts.”

  3. zaphodity says:

    Totally off topic here but now Arizona has passed the illegals bill (and will be the next California) and seeing as how dying things are profitable in the financial markets it’ll be intresting to see who makes good from Arizona going under.

  4. Youri Carma says:

    Mind-Controlled Robots and Electronics in 10 Years http://www.popsci.com/technology/article/2010-04/japanese-titans-industry-aim-mind-controlled-robots-and-electronics-10-years

    Intel Wants Brain Implants in Its Customers’ Heads by 2020 – Researchers expect brain waves to operate computers, TVs and cell phones http://www.popsci.com/technology/article/2009-11/intel-wants-brain-implants-consumers-heads-2020

  5. stacyherbert says:

    The IMF tells the Greeks they have nothing to fear but fear itself, for they are there to help them with friendly advice: http://preview.bloomberg.com/news/2010-04-24/greek-citizens-should-not-fear-advice-bearing-imf-strauss-kahn-says.html

  6. Youri Carma says:

    Bernanke Admits Printing $1.3 Trillion Out Of Thin Air http://usawatchdog.com/bernanke-admits-printing-1-3-trillion-out-of-thin-air/

  7. stacyherbert says:

    @MilliniumJane – yes, I wonder about the absence of outrage, too; so I doubt there will be cuffs . . . for the perps involved in the theft of trillions via their fraud schemes; no the handcuffs it seems are being slapped on those on to whom all the outrage seems directed . . . the guys standing on street corners looking to work for $4 an hour

  8. Youri Carma says:


    Frankly I think there realy is not a EU cause what’s Goldman Sachs doing in Greece and Italy and why does the IMF has to step in? This shows that the EU has failed.

    It also could be a tricky move to a New Economical World order by bringing in the IMF into the EU.

    The SEC has failed but so did the EU and more so cause Europe held about 70% of toxic assets. The control mechanism of the EU isn’t realy there so in effect cannot prevent anything fuzzy going on in the EU countries.

  9. nama rama says:

    Interesting read:

    All quiet on the Goldman Sachs front for talkative Eugene Regan

    “When people here think of Goldman Sachs they think of Peter Sutherland. Sutherland is just about as impressive as a man can get. His list of achievement is as long as my leg. I do not intend to recite it here, but for one: he is chairman of Goldman Sachs International.”


    btw.. Peter Sutherland along side Dermot Gleeson of Allied Irish Bank, Are both on this years list of Bilderbergers..


    It just gets smellier and smellier….


  10. Youri Carma says:

    Greece, Out of Ideas, Requests Global Aid (the New York Times) http://www.nytimes.com/2010/04/24/business/global/24drachma.html?hp

  11. Mini US says:

    Good video of Ron Paul and Bernanke.

    So, the IMF (aka Feds big brother) creates money out of nothing and ‘loan’ it to Greece, etc.
    Then the IMF impose conditions on Greece, and these failed states pay back the debt IN GOLD (according to IMF website).
    This goes on forever as the debt can never be paid off.
    The loan is made from NOTHING and paid back in GOLD or other real assets.
    Good business plan I think.
    What a scam!

  12. Youri Carma says:

    For Greece, Spain, Italy, Ireland and Portugal, the financial crisis has highlighted the constraints of euro membership. Unable to devalue their currencies to help regain industrial competitiveness, and impelled by European Union fiscal agreements to meet certain budget targets, they are facing years of belt-tightening just when their economies could use a lift from additional spending.

    Other countries like Germany, the Netherlands and Austria have kept deficits down while retaining an edge in global markets, in part by restraining domestic wage increases.

    France lies somewhere between the two camps.

    Mr. Lyons at Standard Chartered Bank said the long-term choices for the euro area appeared stark: either push on toward a political union, HANDING BUDGETARY POWER TO A CENTRAL AUTHORITY, or form a “two-speed” block.

    The bailout package has raised a host of technical as well as political issues for the euro area, because the euro’s founding treaties insisted that no such step could be taken.

    Berlin will raise its share of the money on the markets through KfW, the state development bank. Guarantees for those loans require approval by lawmakers.

  13. Mini US says:

    Trickle, Trickle.

    The sound of Greece’s gold reserves being cyphoned off my IMF interest payments.

    Ok, It trickles when its hot 😉


  14. Paddy says:

    what amazes me is that Goldman will even screw over other relatively large banking clients like ABN-Amro and RBS. How do they think this benefits them in the long run or is it just that the other banks will say ‘oh, you sneaky bastards, you got one over us this time. Still on for golf and champers this afternoon?’

  15. Youri Carma says:


    Maybe Goldman Sachs know it’s the END GAME and just try to steel as much as possible before WOIII round 2012.

  16. skippy says:

    is it possible that Paulson can “protect” himself by stimulating a massive short cover in the paper gold market ? He is long gold correct ?

    If he was able to position himself to “profit” in a CDO market panic why could he not be positioned a similar way with regards to gold ?

    Does he have this kind of leverage or is he in over his head ?
    is this why “they” are going after him, he is driving gold against players that have connections into regulators ? or is he being thrown under the bus with the expectation that OUR trip down the rabbit hole will end at that depth of “seeing” ?

  17. covered says:

    What Max calls “zombie CDOs” are really COUNTERFEIT. Arrest them.

  18. gussy says:

    Good show, enjoyed your long winded obscure analogy and Dennigers response ‘no’.