HOW GOLDMAN CHEATED AMERICAN TAXPAYERS

Although the TARP Bill was signed into law on October 3, 2008, delivering 700 billion dollars to wealthy bankers with Goldman getting $10 billion, the top brass of Goldman Sachs began their own ‘bailout’ as far back as March of 2008.

In little noticed public records filed with the Securities & Exchange Commission top Goldman Sachs’ executives under the direction of John S Weinberg who reported the sales, moved quickly to sell their shares of Goldman stock to unsuspecting investors while the shares were still trading at a high rate in March of 2008.

Indeed, Goldman’s stock was trading around $171 a share by mid March – but with the ‘red flag warnings’ of the imminent Bear Stearns collapse, Goldman Jews knew what was coming down the pike. Thus, Weinberg gave the order to sell:

On March 19, 2008 Jack Levy, Co-Chairman of Goldman’s Mergers & Acquisitions, sold 30,000 Goldman shares at $171.32 each, putting $5.14 million in Goldman’s coffers.

On March 19, 2008 Jon Winkelried, Goldman’s Co-President at the time (abrupt resignation), sold 20,000 Goldman shares at $173.78 each, putting $3.5 million back into Goldman’s vault.

On March 20, 2008 Marc Spilker, Head of Goldman’s Asset Management Division at the time (another abrupt resignation), sold 11,484 Goldman shares at $177.34 each, putting $2 million in Goldman coffers.

On March 24, 2008 David Solomon, Co-Head of Goldman’s Investment Banking Division, sold 4,202 Goldman shares at $183 each, generating $1.4 million for Goldman’s hoard.

By mid September 2008, Goldman stock was trading around $120 a share. BUT by October 2008, Goldman Sachs shares plunged to $49 a share. Of course these crafty men knew what was coming.

When Lehman Brothers filed for bankruptcy on September 15, 2008 along with the coinciding rescue of AIG, Goldman execs renewed their selling flurry:

On September 17, 2008 Jack Levy was at it again, selling 50,974 Goldman shares at $119.99 each, generating $6.1 million. Two days later, Levy sold 30,000 Goldman shares at $131.94 each, for another $4 million.

On September 17, 2008 Milton Berlinski, Vice Chairman of Mergers & Acquisitions, sold 100,000 shares, at $102.65, putting $10.3 million back into the Goldman vault. The next day, Berlinski sold 75,000 shares.

On September 17, 2008 Richard Friedman, Head of Goldman Sachs’ Principal Investments, sold 120,500 shares at $101.75 each. He sold another 25,000 shares the next day at $99.79 each. The following day he sold 100,000 shares at $138.49 each. In sum, Friedman sold around $29 million of his Goldman shares in the ‘panic’ following the collapse of Lehman.

I FIND THIS INFORMATION COMBINED WITH THE FACT THE BOTH HENRY PAULSON AND TIMOTHY GEITNER WERE BOTH GOLDMAN EXECUTIVES VERY INTERESTING.

CJR