Money Beat

Goldman Sachs Should be investigated along with the largest individual shareholder....US Treasury Secretary Henry Paulson

no big suprize to me that this was going to happen let me tell you why. Bush and the GOP. We are passing recesion and heading to depresion this is the last stage of the country falling people. Bush has let his big oil buddys ruin the economy and his special intrect groups and righ friends. Im heading to Germany now before its to late. You people are about to elect another GOP crook too which is so beyond me its not even funny. Oh and buy the way did you know the only banks and investment groups not going under right now are the ones Iraq is putting its billions of dollars on oil revinues in while the american tax payers pay billions of dollars recontructing Iraq and Iraq doesnt spend a dime of its own money. Buch should be arrested for treason as far as im concered he has helped a radical islamic country to become strong and at the same time weaken to the point of depresion the United States

McCain threatens war with Iran. Obama threatens intervention into Pakistan. Both want to antagonize Russia through condemnation and overwhelming undeserved support for Georgia. Seems to me we have some pretty crappy choices this go around if we are really worried about finances. I will go 3rd party.

Why is the super outdated picture of the Morgan Stanley building attached to this article? It doesn't make any sense? How about some real reporting, without using a picture that shows a 3 year old logo?

Holy smokes, we currently have a president that is intellectually non-curious, and McCain graduated in the lowest percentile (bottom 5%) of his class at West Point. Let's crank it up a notch America! Obama went to Harvard, Clinton was a Rhoades scholar... we all prospered during the SMART presidencies... let's go back there again... back to peace and prosperity... OBAMA 2008!!

There is something very, very strange taking place...much more ominous than meets the eye. What is happening now is being attributed in large part to the mortgage meltdown caused by foolish investment speculation. Don't you find it suspicious that all of these former elite investment banks/securities traders/brokerage firms... Bear Stearns... Merrill Lynch...Lehman Brothers...have all collapsed? Who's buying them up? JP Morgan/Chase bought Bear Stearns. Bank of America bought Merrill Lynch. Who will buy Lehman Brothers? Are we to believe that the CEOs and top management of these long-running, top shelf powerhouses were incompetent smucks...victimized by their own greedy, short-sighted projections? Or...is it a master plan that brings everything into the fold under one tent, controlled by a few? Look deeper folks!

What do you know, once again misery to the nation is music to the pocket book of one of the Bush administration. I'm shocked!

"Under Paulson's leadership, Goldman Sachs has become one of Washington's most generous patrons. Paulson is a top donor--mostly to the GOP. (To the chagrin of critics on the right, Paulson is also an ardent environmentalist and is chairman of The Nature Conservancy.) As Treasury Secretary, Paulson may have to dump some stock (he is the single largest shareholder in Goldman Sachs according to its 2006 proxy statement, with 4.6 million shares) to decrease his overwhelming conflict of interest, but even if he sells his unrestricted stock, he'll still have several hundred million bucks in RSU (restricted stock unit) awards, which are not immediately sellable. This could place him in a position where maintaining his financial well-being could necessitate supporting policies positive to Goldman's short-term stock price over long-term needs of the general economy, like dividend tax cuts. "

Mccain is not a West point graduate....uhhh....naval academy. Another Obama person with no facts!!! Several presidencies are to blame for today's current problems. The real issues will be when the global real estate bubble collapses. It's manifesting here because we have free markets and things reflect quickly. This was a global boom. Though the derivatives themselves were heavily traded here in NY thus ground zero.

Psalm 33
Blessed is the nation whose God is the LORD, and the people whom He hath chosen for His own inheritance. The LORD looketh down from heaven; He beholdeth all of the sons of men. From the place of His habitation He looketh upon all the inhabitants of the earth; He fashioneth the hearts of all; He considereth all their works. No king is saved by the multitude of an army; a mighty man is not delivered by much strength. A horse is a vain thing for safety; neither shall he deliver any by his great strength. Behold, the eye of the LORD is upon them that fear Him, upon them that hope in His mercy, to deliver their soul from death, and to keep them alive in famine. Our soul waiteth for the LORD; He is our help and our shield. For our heart shall rejoice in Him, because we have trusted in His holy name. Let Thy mercy, O LORD, be upon us, according as we hope in Thee.

Isn't "pave the way for new powerhouses" the same as "creating new monopolies"? Is that supposed to be good?

Psalm 33
Blessed is the nation whose God is the LORD, and the people whom He hath chosen for His own inheritance. The LORD looketh down from heaven; He beholdeth all of the sons of men. From the place of His habitation He looketh upon all the inhabitants of the earth; He fashioneth the hearts of all; He considereth all their works. No king is saved by the multitude of an army; a mighty man is not delivered by much strength. A horse is a vain thing for safety; neither shall he deliver any by his great strength. Behold, the eye of the LORD is upon them that fear Him, upon them that hope in His mercy, to deliver their soul from death, and to keep them alive in famine. Our soul waiteth for the LORD; He is our help and our shield. For our heart shall rejoice in Him, because we have trusted in His holy name. Let Thy mercy, O LORD, be upon us, according as we hope in Thee.

when the Federal government insures anything, it's on the line for default. It's always a catastrophe waiting to happen. No party or person is to blame - this has been coming on for years.

Best to worry about all the other things the government has underwritten for shady purposes.

You all need a lession in simple economics..Before you sprouts garbage out and blame the Government. Its the individuals who were riding high on the markets. Now you cant blame the government for everything. You all need lesson. You cant buy what you cant afford to pay for. The market had to correct itself from greed everywhere including individuals. The government needs to stop helping the idiots who keep living in a fish bowl in New Orleans or the coastline. If an idiot wants to build his house in the sand and its gets destroy. I dont want to pay for it.

Grow up...Remember, its the democrats who is in charge of Congress for the past 2 years...Gas prices are sky high, food prices , housing market failure started after the democrats took over the house... Being a democratic dont give me the right not to bash for not promising to do what they say they going to do when the took over the house...

OBAMA dont have the experience.

It's easy to spot the socialist on this particular blog. They're 'victims' and fee they are owed something by somebody else.

Gimme, gimme, gimme!

Jennifer Rubin ...

Fannie Mae and Freddie Mac survived scrutiny by manipulating, cajoling, and lobbying politicians and hiring board members who were politicos (e.g. Jamie Gorelick) rather than mortgage gurus. They hired lobbyists, gave massive donations, obtained nice tax breaks, and sailed below the regulatory radar screen.

Of the 354 lawmakers who received money from Freddie and Fannie between 1989 and 2008, Sen. Chris Dodd received the most. But next was . . . drumroll . . . Barack Obama. Yup. And he was only there for three years. Not too much went to John McCain, about a sixth of what Obama received (h/t Glenn Reynolds.)

But, you say, maybe all the Fannie and Freddie employees who gave money just “liked” Obama. That might make sense with ordinary institutions. But these two had a game plan to influence and sway lawmakers for the purpose of keeping them on the government gravy train and out of the regulatory line of fire. It’s no coincidence that they “liked” Senate Banking Chairman Chris Dodd best of all.

So it would appear that this is precisely what Obama has been railing against: Washington insiders lining the pockets of other Washington insiders while the taxpayers ultimately have to foot the bill. The Agent of Change, it seems, didn’t exactly walk the walk on this one.

No Insider has bought Goldman Sachs stock in over a year....they dont expect the price to be going up anytime soon. Paulson owns over $400million of GS stock. Does anyone know what the other former GS CEO's did after being CEO? They went to work for the federal government.

We support Palin. She wants Christian God in our schools. Christian Prayer in class. Creationism taught in Science. She is our savior. Assault rifle in one hand, Bible in the other. She wants Ten Commandments in government buildings. She is our savior - she wants no abortions. Rape victims should not have abortions. This is what God wants. She reads the Bible literally. She is our Christian Savior. Palin - McCain. Vote.

We need Reaganomics again and a big military boost and then add in the Clintonomics for jobs and debt reduction we'd be right back on top again. But why is GAS still so high when it's down to 94 bucks a barrel

We need Reaganomics again and a big military boost and then add in the Clintonomics for jobs and debt reduction we'd be right back on top again. But why is GAS still so high when it's down to 94 bucks a barrel. With the mortgage/banking crisis now more people will be out of jobs many more homeless because it will now be harder to get a home loan for anyone

@Godlovespalin - are you looking for a Guru - a spiritual master, or a political leader? This is a political campaign, not a holy trek. Even though you and many others may believe this way, the theory "what's best for the most people" is the philosophy of a free government. Leave religion out of it. We can all still live in peace and prosperity.

WHY SHE REALLY SCARES THEM

Read all about it!

http://www.dickmorris.com/blog/2008/09/15/gops-gaining/#more-438

If you think that Bush stinks, wait till the oldest dummy called Mccain takes over as president,both WHITE and minorities are suffering in America of today, Iraq has surplus economy and Mccain has no economic plans, betwwen Bush and Maccain who is smarter, the answer is BUSH, so if bush failed why will WHITE American believe that Mccain will do better, this age this time, this circumstances is not the right time for Mccain, John Mccain too old, Obama is the right choice and this time.

do what i did three years ago i closed out all bank accounts and cleaned out my 401k. and i bought a really nice huge bank quality safe and i work all in cash.. my old grandma said she could see things going just like they did just before teh great depression and she said taht was caused by republicans also.

Hey those smucks are taking my retirement down with them. You'd think that since the only thing they have to sell is money, they'd get it right. Wrong, never met a really smart banker in my life. Greed andstupidity prevailed. So much for the GOP's deregulation and "they will police themselves" what a joke, but I'm not laughing.

Housing prices have been way out of control for long time. I backed of out buying a house ten years ago because the prices were ridiculous where I lived. When growing up, parents generation only paid 50-75K for decent home. Some baby boomer fleecing has gone on in the real estate/home industry I think and now what a mess we have.