Fox News Defends Goldman Sachs Fraud!

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[PovertyRecords]

A person who doesn't watch the news is uninformed. A person who does watch the news is misinformed.

[Yojimbo707]

fox news is a joke .

whoever watch these retrograde clowns is an ignorant or an under educated fool.

[SubwayRatt]

watching this clip and others i get the feeling that the anchor here chris wallace is the least vile person on fox news. the way he laughs at 5:07 is priceless.

[jb4rp2012]

@flinchus This is one area where even Ron Paul want Regulations... so much that he wants to take away all of their UN-NATURAL power...

[flinchus]

Big financial institutions who have more economic power than the state need regulating more strictly. Risk tolerances are being set far too high. Greenspan proved beyond a doubt that the invisible hand does not rectify every situation, markets are imperfect. Even Friedman realises it. Hardcore capitalists like hardcore communists need a reality check. Trading financial derivatives is all well and good until the insiders artificially manipulate prices and make a profit on a loss.

[pureperil]

@cmills1988 MBSs, CDOs, and CDSs are complicated to understand. Let me use a stock example to demonstrate what a MM does. You want to buy some stock. You like risk, so you buy a very speculative solar company. Once your order is sent, a market maker accepts your bid and sells you stock. The act of them selling something to you gives them the opposite position to you (short). They cover that position(risk) by finding some one to buy from. MMs make money on the spread @ which they buy and sell.

[pureperil]

@cmills1988 You prove my point. Goldman was an equity investor in some of the senior tranches of Abacus precisely because counter parties needed another side. Sure, Goldman bought credit protection (CDS) against their stake, but thats what a market maker does to offset their risk (nothing wrong with that). To the question of risk, think of Goldman as a middle man here; simply setting up a deal. IKB and Paulson wanted the risk exposure Abacus provided. They got what they paid for.

[pureperil]

@cmills1988 Goldman Sachs is a market maker. There job is to be the other side of a trader when he/she wants to buy / sell a security. Just because something is "risky" doesn't mean a market can't be made for it. Almost everything in traded markets carries some degree of risk. Risk is determined by price, volatility, liquidity, and integrity. Some market participants like a lot of risk and some do not. Goldman simply satisfies trader demand for risk exposure. You make money by taking risk, BTW.

[pureperil]

What exactly did Goldman know that no one else knew? The other side didn't know the risks associated with their exposure!?! Did Goldman make the counter parties acquire exposure? There is no scam here. . . Someone, whether long or short, was going to lose on this bet. The only people who are fired up about this are the people who truly don't understand it.

[fusermia327]

Why should you be surprise that Fox Noise is taken the side of Goldmann Sachs.If you want to remain in the dark keep watching fox noise ,Rush,Palin,Fair and unbalanced Billy Crystal.What a bunch of un-Americans.....Treasonist...­..

[TrollBuster9090]

@PovertyRecords

Unless they watch PBS News. But that's now in the crosshairs...