Well, boo fucking hoo. How dare these pesky people hold them accountable for their lying, cheating and stealing? This is some satisfaction, since there is nothing significant in sight from the ironically-named Department of Justice:
(Reuters) – Goldman Sachs Group Inc suffered a defeat on Monday as the U.S. Supreme Court let stand a decision forcing it to defend against claims it misled investors about mortgage securities that lost value during the 2008 financial crisis.
Without comment, the court refused to consider Goldman’s appeal of a September 2012 decision by the 2nd U.S. Circuit Court of Appeals in New York.
That court’s action lets the NECA-IBEW Health & Welfare Fund, which owned some mortgage-backed certificates underwritten by Goldman, sue on behalf of investors in certificates it did not own, but that were backed by mortgages from the same lenders.
In afternoon trading, Goldman shares were down $2.47, or 1.6 percent, at $152.37 on the New York Stock Exchange.
Other bank stocks also fell, amid concern about an escalation of the euro zone crisis, with the S&P financial sector index down 0.7 percent.
Goldman and other banks have faced thousands of lawsuits by investors seeking to recoup losses on mortgage securities.
The bank has said that letting the 2nd Circuit decision stand could cost Wall Street tens of billions of dollars.
Well, if the politicians won’t break up the banks, maybe we can bankrupt them instead. Hey, I can dream, can’t I?
WARREN: During my Senate campaign, I ate a number 11 at McDonald’s many, many times a week. I know the price on that. $7.19. According to the data on the analysis of what would happen if we raised the minimum wage to $10.10 over three years, the price increase on that item would be about four cents. So instead of being $7.19 it would be $7.23. Are you telling me that’s unsustainable?
BUSINESS OWNER DAVID RUTIGLIANO: Senator Warren, not all restaurants are created equal. I’m in a full service restaurant business. McDonalds has efficiencies and they operate completely differently than I do. I have many jobs, many jobs that pay well above minimum wage. We have a retirement plan. We offer health insurance to our salaried employees. So my business is a little different. I can’t raise a four cent price. I mean I don’t have, I don’t operate like a fast food restaurant. I would hope you appreciate the distinction.
WARREN: I do appreciate the distinction and I’m not going to be in the business of being a McDonald’s representatives but they would talk about having some higher paid jobs and some opportunities for management and advancement as well. But I get your point, maybe it’s only four cents on $7.19. But if your entrees are $14.40 we’ll see how fast I can do the math — are you telling me you can’t raise your prices by eight cents?
Even if there had been WMDs, the U.S. was still committing a war crime when we bombed a civilian area with “shock and awe.”
Wow, he really is as big a putz as he is on teevee!
What a fucking, whiny, pathetic excuse for a human being. Fuck you, Bill, and fuck the Catholic Church who did you that little favor in exchange for your
Nanci Griffith with another Julie Gold song:
Imagine that. I kind of wish our side was this vicious.