Three separate Goldman Sachs pieces emerged today starting off with this jaw-dropper from American Thinker.
Goldman Sachs, the Wall Street leviathan that is heavily invested in the cap-and-trade carbon market scam, has admitted it has developed and used software that can manipulate such financial markets.
The revelation came during proceedings in a legal case with enough plot twists to make even John Grisham proud; it was made, not by Goldman, but by an assistant U.S. Attorney.
To top this off, there’s another Goldman Sachs story today reminding the public that this firm was also a federal TARP bail out recipient and several executives sold $700 million in stock during that time frame.
For the eight-month period for which figures are available, Goldman partners sold more than $691m in company stock, even as the firm expanded its public float from 395m to 503m shares in several capital raises.
For the comparable period between September 2007 and April 2008, when the average share price was substantially higher, Goldman partners sold about $438m in stock.
A spokesman declined to comment on the sales, other than to note that Goldman partners receive a big share of annual bonuses in stock, and that for many, stock sales are an effort to diversify their holdings.
Want some more? We also learned today that it has now, phoenix-like, emerged from the stock market meltdown ashes with a nearly $3 billion profit! We at Founding Bloggers love a success story as much as anyone but perhaps a closer perusal of all three items is in order. With the Obama Administration’s penchant for helping out Democrat-friendly firms, is there any more to this? Is the Cap-And-Trade tax scheme and Goldman’s involvement a major reason why they received a bailout and other storied Wall Street firms did not?
Where is Mr. Paulson in all this? Isn’t he the one that said the sky is falling a month before the election insuring an Obama victory?