Goldman Sachs Hearing- Sen. McCaskill Opening Statement

[jlwarner7]

This has been in the works since they ended the Glass-Stengall bill, that was passed in the 1930's to avoid another stock market crash, like the one in 1929.

This has been a planned assault from the beginning, and wall street has been benefiting from the start. Their greed and arrogance has just got the best of them to the point where there synthethic investments crumbled before their very eyes.

[heyyohill]

wow this woman clearly understands nothing about cdo's or equity tranches or champagne waterfalls. the fact of the matter is that financial derivatives ARE extremely complex, and being prepped for several days before some bullshit hearing doesn't make you an expert on wallstreet

[avzeolla]

Those guys are laughing to themselves because they're already three steps ahead of the congressional"investigators".

[FenixofWow]

wtf are you talking about ustroopsupporter25?... what concerns were raised by the BUSH administration... that's complete bullshit

[ADuerksen003]

Talk about the pot calling the kettle black.

[vasahni]

this is a joke

[ustroopsupporter25]

Passed by none other then a democratic congress Jimmy YO-Yo Carter signed the community reinvestment act into law... And Bill suck my balls real good Clinton reauthorized the law... And when concerns were raised by the "BUSH administration about a financial meltdown democrats voted 3 three times against government oversight... How is that the republicans fault???

[cestmoilance]

Politicians want to win voters, and bankers want to show off. end of the story. It doesn't matter if they speak the same language. Just a show. I am just curious why CFA's code of conducts was never mentioned, there is no reason for Goldman not being in compliance with that.

[TheDoubleEscape]

Wow. She doesn't know anything about CDO's.

[hellothere7654]

did she say "I got be honest" ?

I 'd like pay tax to have her making a empty speech, like blow air or gas.

And have some unpaid workers to to the real work.

[blitzinger1]

@Calsummersishere "How can regular people place bets against America?"

Um, you can open a Scottrade account, put 5k in, open up an options account, and make "put" options. That's one way. Short selling a company is nothing "clever" or "rare". It doesn't take harvard graduates to figure out. I'm in college and our investment club does it.

[lobsterbot1]

Look at the nerd in the background, playing with his pencil.

[levelec]

ha-ha oh boy, doesn't she sound like a high school teacher!

[wutal123]

How many people in President Obama's cabinet are former employees of Goldman Sachs and were recruited to work in his cabinet. Wonder what the connection of the dots would lead to.

[coppertop9addy]

I just LOVE it when the people on here take sides and "blame" the government, or "blame" the democrats and bitch that the Carter & Clinton admins pushed banks to issue bad loans, and no other admin did it. Bullshit! The Bush administration promoted the idea of letting holders of Section 8 rental-housing vouchers-very poor households-use their housing subsidy as a down payment on a mortgage. Bulmer you are delusional if you don't think that banks don't run this country. Sit and Spin.

[highroller12208]

@coppertop9addy that's why you blame statism as a whole... some people just aren't meant to own

[ldonhawk]

Right On!!!  She is 100% on target! Go get 'em Claire!!!

[jamel11234]

A mega billion dollar company like Goldman issues toxic securities because of Gov't pressure? If you think that was their motive and not to make a fast buck then you folks are as dumb as I thought.

Sure, blame to Gov't and let big business off the hook..you guys are nothing but conservative marks who cant think for yourselves

[bertly71]

You voted for both bailouts. The president that you follow around like a lost puppy had Blankfine in the White House 5 times last year. Fake populism from a millionaire lawyer/ politician.

[coppertop9addy]

Get 'em, Claire! Learn how to SPELL "idiotfinder"!

[biohazard23]

trop bon. mangez bunch of ----- beep -----!

[idiotfinder911]

HAHA, Is she bitching about the mortgages that the Dems FORCED the banks to make? LOL

Claire, it is YOU that needs to be questioned. Cause Goldmen doesnt even begin to scratch the surface of the REAL story!

BUT... we will never see these politicians held accountable for their courption!

[anniemcu]

Go get 'em Claire!

[fal2grace]

Thank you Sen. McCaskill!!

[skybirdbird]

you go girl!!!!!!!!!

[RandyMontReynaud]

Perhaps our financial system should simply be reduced to a couple rounds of Texas Hold 'Em...