Goldman Sachs Record Fine by SEC

-------- Original Message --------

Subject:	FW: Re: Goldman Sachs Caught In Fraud by SEC
Date:	Thu, 15 Jul 2010 15:44:20 -0700
From:	Jas Jain

Date: Thu, 15 Jul 2010 22:12:10 +0000
Subject: RE: Goldman Sachs Caught In Fraud by SEC
To: jas_jain

Jas, The good tamasha (check your comment below) ended exactly as we expected. Obama got his do-nothing financial bill, and goldman settled with SEC for pocket change - both on the same day. http://news.yahoo.com/s/ap/20100715/ap_on_bi_ge/us_sec_goldman Curious to hear, what the Kirk and others think now. -- AA   $550M fine, without admitting any wrong doing!, is more like a parking ticket for the top financial offender. There is no change in the system of the Crooks, by the Crooks and for the Crooks. The only real change allowed is one that is worse for the working folk and better for the Crooks. --Jas --------------------------------------------------- --- On Fri, 16/4/10, Jas Jain <jas_jain@hotmail.com> wrote:From: Jas Jain <jas_jain@hotmail.com> Subject: RE: Goldman Sachs Caught In Fraud by SEC To: "Jas Jain" Date: Friday, 16 April, 2010, 21:24 A good tamasha needs some well-timed surprises. Clap, clap, clap. Don't forget: SEC stands for to Secure Entitlements for Crooks! The Public's confidence must be maintained!! Jas -x-x-x-x-x-x-x-x-x-x-x-x-x-x- Date: Fri, 16 Apr 2010 20:13:47 +0000 Subject: RE: Goldman Sachs Caught In Fraud by SEC Ok, I figured out what is going on with the Goldman lawsuit. Obama wants to use this case to drum up support for financial regulation bill, which we all know gives more power to Federal reserves to 'regulate financial system'.   http://www.nakedcapitalism.com/2010/04/sec-sues-goldman-for-fraud.html "Second update 12:00 PM: Reader Hubert points out that the SEC suit was announced minutes before this e-mail was sent out in Obama's name. Coincidence? I cannot stand these Obama missives, so I am only including the beginning, which is sufficient to give you the drift of the gist. Friend – It has now been well over a year since the near collapse of our entire financial system that cost the nation more than 8 million jobs. To this day, hard-working families struggle to make ends meet. We've made strides — businesses are starting to hire, Americans are finding jobs, and neighbors who had given up looking are returning to the job market with new hope. But the flaws in our financial system that led to this crisis remain unresolved. Wall Street titans still recklessly speculate with borrowed money. Big banks and credit card companies stack the deck to earn millions while far too many middle-class families, who have done everything right, can barely pay their bills or save for a better future. We cannot delay action any longer. It is time to hold the big banks accountable to the people they serve, establish the strongest consumer protections in our nation's history — and ensure that taxpayers will never again be forced to bail out big banks because they are "too big to fail." That is what Wall Street reform will achieve, why I am so committed to making it happen, and why I'm asking for your help today. Please stand with me to show your support for Wall Street reform."

Kirk Here:  AA.  Fines for pushing the envelope on what is legal are part of the cost of doing business.  The  lesson you are learning today is an old one that Lucky Luciano learned after spending a day on the floor of the New York Stock Exchange, an eye-opening lesson that allegedly induced him to comment: "I realized I'd joined the wrong mob."

When I first added financials (Citi) to the "explore portfolio" of my newsletter, which I have traded its ups and downs for very large profits, I wrote it was better to be a part of Citi than picketing on the corner complaining about their business practices be it excessive fees on the clueless debit card users to more sophisticated methods of extracting profits from people. 

	Citigroup
Total $ Bought	($30,150)
Total $ Sold	$26,703
Dividends	$7,801
Difference	$4,353
Shares held	1,750
Exposure/Share	on house $
$ / Share	$4.160
Held Value	$7,280
Investment Gain	$11,633

You can make a ton buying companies like this when they are hammered down with failure and fines then unloading the shares after they recover while you wait for the next time they get caught.

In 2009, "Kirk's Newsletter Explore Portfolio" gained 33.5% vs. the DJIA up 18.8%
For 2010, as of 7/15/10, the explore portfolio is up 2.3% YTD
vs. DJIA down 0.7% vs. S&P500 down 0.7%!

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