Page 11 - Timber Wolf News Today

Warning, there is there is an offensive word being quoted from an internal e-mail. we are not bleeping it out. >> before you sold them, this is what your sales team were telling to each other. boy, that timber wolf was one -- deal. they sold that. >> mr. chairman. >> june 22 is the date of this e-mail. boy, that timber wolf was one -- deal. how much of that -- deal did you sell to your clients? you didnt tell them you thought it was -- >> i didnt say that. >> no -- you knew it was a -- how about...

"boy, that timber wolf was one [ bleep ] deal. how much of that [ bleep ] deal did you sell to your clients after june 22, 2007." >> mr. chairman, i dont know the answer to that, but the price would have reflected levels that they wanted to invest. >> you didnt tell them you thought it was a [ bleep ] deal. >> i didnt say that. >> no, who did? your people. you knew it was a [ bleep ] deal and thats what your e-mail showed. >> to be a fly on the wall at c-span headquarters when that was going dow...

The american people deserve an honest debate on this bill. we cant let another crisis like this happen again and we cant have such a short memory that we let them convince us that we dont need to change the status quo on wall street. >> the vast disconnect between wall street and regular people best exemplified by todays hearing. 11 days after the securities and exchange commission accused goldman sachs of fraud. executives testified before the senates subcommittee on investigations. the topics,...

The democrats have a problem in rural america and as conservative marco rubio enters the race for a florida senate he steps into the discussion about immigration. most of what youre about to hear will make you mad or annoyed, anyway. some of it isnt 100% family friendly either like this from senator levin from michigan to goldman sachs executives he believes knowingly sold bad investments to clients and undermined financial markets in the process. >> june 22 is the date of this e-mail. boy, th...

Show. i done think were going to get regulation out of this. this is an opportunity for these senators to get up there and get hot audio going and get hot under the collar to go home and make a 30-second or 60-second commercial saying senator so-and-so fighting for you against wall street. >> absolutely. >> thats how i feel about it. joan, what do you think? >> on this one i disagree with you, ed. i think were going to get reform. i hope its tough enough. what i see is a lot of republican senato...

With the letter "s." >> your sales team was saying about timberwolf. "boy, that timber wolf was one [bleep] deal. they sold that [bleep] deal." >> there are prices in the market that people want to invest in things. it didnt use that term with respect to this deal. >> reporter: the former and current goldman executives said they were short but emphasized they were sold to other investment banks such as bear stearns, not regular customers. >> i was inteimmediatiary between highly sophisticated pr...

With the letter "s." >> your sales team was saying about timberwolf. "boy, that timber wolf was one [bleep] deal. they sold that [bleep] deal." >> there are prices in the market that people want to invest in things. it didnt use that term with respect to this deal. >> reporter: the former and current goldman executives said they were short but emphasized they were sold to other investment banks such as bear stearns, not regular customers. >> i was inteimmediatiary between highly sophisticated pr...

That was quite a saucy stretch for a hearing. this has been colorful and interesting. >> it reminds me of the classic moment in "casablanca." >> i dont think anybody was ever in the room but paulson, were there, mr. tourre, really? lets be honest here. that was a paulson deal and you put in there as some kind of fig leaf so you could do what youre doing now. why didnt you use aca on the other deals? you know what the interesting thing is on timber wolf? you know who gray wolf is, your alum alumn...

Congressman and gene robinson asks -- fire storm at the goldman sachs hearing in the senate. >> look what your sales team was saying about timber wolf. boy, that timber wolf was one [ bleep ] deal. >> the amazing quotes and we will not bleep them again. our special guest, senator ted coffman of de. there is no racism on the right. yes, the paper said obama disses white guys. they say obamas the racist. >> this is the regime at the nations best. >> wow, fella, the man has really kept you down. ch...

Goes up so i take out what you would call a derivative to make sure that i get to -- >> larry: you are hedging your bet. >> right. >> reporter: that is legal. done all the time. >> thats correct. that is legal. >> larry: what did goldman sachs do wrong? >> because it is illegal to commit fraud. >> larry: what was the fraud? >> the fraud was not telling the person who is investing in this -- timber wolf was one of the examples, the assets they were getting people to invest in. if you dont tell th...