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Madoff & Goldman Sachs - Where was [is] the SEC?

The Securities and Exchange Commission is experiencing a crisis of public esteem, particularly for failing for more than a decade to bust confessed Ponzi-schemer Bernie Madoff and alleged Ponzi-schemer Alan Stanford. This week's $550 million settlement with Goldman Sachs over fraud charges notwithstanding, "Where was the SEC?" has a familiar ring.

altOne of the simpler and more effective things the SEC could do is adapt a new system of statistical incentives for agents to measure themselves against. Instead of encouraging field offices to take on a larger number of cases, the SEC should encourage them to take on more complex cases.

Jul. 14.─ Goldman Sachs Group Inc. and the Securities and Exchange Commission recently held discussions about a possible settlement to simultaneously resolve the fraud lawsuit against Goldman and some of the agency's lower-profile probes of the Wall Street firm's mortgage department, according to people familiar with the situation.

The settlement idea was floated by Goldman, which is eager to end the bad publicity swirling around the New York company ever since the SEC sued it in April over a collateralized debt obligation called Abacus 2007-AC1, these people said. Combining a settlement of the Abacus lawsuit with a resolution of related SEC probes could so the Goldman clients and investors, while shielding the firm from the release of information that could be used against Goldman in private litigation.


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Bilderberg 2010: global recession and other agenda items

"Bilderberg Club" annual metings provoke a lot of speculation but the real agenda and goals remain mostly a secret among some 150 World personalities.  The following is just one among many speculative press reports.  However, it is something we all need to be aware of.  Lets hope that some relevant and promising information may emerge from the Dolce Sitges Hotel (photo)
Dolce Sitges Hotel

Sitges, June 3.─ This year’s confab will focus around prolonging the global financial recession and creating more economic woe in order to provide the pretext for more regulation in pursuit of world economic governance, according to Jim Tucker’s sources.

“Bilderberg hopes to keep the global recession going for at least a year, according to an international financial consultant who deals personally with many of them. This is because, among several reasons, BILDERBERG STILL HOPES TO CREATE A GLOBAL 'TREASURY DEPARTMENT' UNDER THE UNITED NATIONS. Bilderberg first undertook this mission at its meeting last spring in Greece, but the effort was blocked by nationalists in Europe and the United States. 'Nationalists' (a dirty word in Bilderberg) objected to surrendering sovereignty to the UN,” writes Tucker.

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