Page 225 - Scapegoat News Today

Against goldman sachs, accusing the firm of defrauding customers in connection with the sale of a complex mortgage investment. thats what i meant by mortgages. named in that suit is trader fabrice tourre, now on paid leave from goldman. tourre defended himself vigorously in todays senate testimony. watch. >> mr. chairman, as you know, the securities and exchange commission recently filed a civil suit alleging that i failed to disclose to investors certain material information regarding a transac...

Were in that pie. >> larry: help me. were they investing in mortgages that they knew that people werent going to make the payments on the mortgage? and they asked investors to invest with them. >> and as time went on, as they saw in 06 and 07 that things were getting pretty shaky, they started doing much more betting against these mortgage investments. >> larry: all this is alleged. theyre denying a lot of this, right? >> i think theyve denied everything, or sort of denied it today in front of t...

In connection with the sale of a complex mortgage investment. thats what i meant by mortgages. named in that suit is trader fabrice tourre, now on paid leave from goldman. tourre defended himself vigorously in todays senate testimony. watch. >> mr. chairman, as you know, the securities and exchange commission recently filed a civil suit alleging that i failed to disclose to investors certain material information regarding a transaction that i helped to structure named abacus 07 ac 1. i deny cate...

>> larry: help me. were they investing in mortgages that they knew that people werent going to make the payments on the mortgage? and they asked investors to invest with them. >> and as time went on, as they saw in 06 and 07 that things were getting pretty shaky, they started doing much more betting against these mortgage investments. >> larry: all this is alleged. theyre denying a lot of this, right? >> i think theyve denied everything, or sort of denied it today in front of the committee. but ...

This coming week. whats happening on capitol hill? >> yeah, don, he certainly could have been praying that with reverend graham today. basically whats happening, by this time tomorrow night, don, we will know if financial reform is moving forward at a quick pace. tomorrow afternoon, late afternoon, the senate will vote to see if they can move forward on debate on finance reform, a bill that has already passed the house. there are some holdups right now. republicans and democrats have some disagr...

When markets go up and down, and we as taxpayers have had to bail out bank after bank, so they in some ways are a scapegoat. >> resentment is key to this whole thing. greg, great to talk to you. thank you for being with me. greg zuckerman is a senior write at the "wall street journal," and has written a book, literally on this "greatest trade ever." oil mines, leaking volcanos in iceland. what these things have to do with a very possible clean energy alternative. [ male announcer ] if youve had ...

Crisis. if you think about it, the last few years, weve all been hurt, taxpayers have been purt hurt, investors have been hurt, but the banks themselves,ly bear stearns, but its really crucial. >> for people looking for this bogeyman or scapegoat, is it sensible for us to allow goldman to be that? i guess my concern is, if you put it on goldman, if you somehow hold them responsible for more than what they might settle been responsible for, do we miss out on finding out who was responsible for th...

Tomorrow well hear from goldman executives, including the boss, lloyd bankfine, and a self- self-incriminating e-mail person, fabulous fab. at a place at a time when we need someone to blame for this financial crisis, goldman sachs looks to have served itself up to us on a silver platter. but given that this was the worst recession since the great depression, we actually need the truth more than we need a scapegoat or a bogeyman. it would be easier for and for some people more enjoyable to decid...

Reform, one of those things hes dealing with. it will be in the spotlight this coming week. whats happening on capitol hill? >> yeah, don, he certainly could have been praying that with reverend graham today. basically whats happening, by this time tomorrow night, don, we will know if financial reform is moving forward at a quick pace. tomorrow afternoon, late afternoon, the senate will vote to see if they can move forward on debate on finance reform, a bill that has already passed the house. th...

Officers that work in special units that focus entirely on hot spots of crime. and theyre doing their best they can at that. but i think the city as a whole does have to come together. weve got community organizations like cease fire and others that do a good job in helping. you have to intervene in the violence when its occurring to prevent retaltation. you have to work with parents. we need surveillance of kids. also, we need much more mentoring and parental roles. and theres critical periods ...