Bankster's Paradise

Bankster's Paradise   Follow Us:   When I read stories like this,   http://online.wsj.com/article/SB10000872396390443537404577579840698144490.html?mod=WSJ_hpp_LEFTTopStories,   I often think of Coolio’s song “Gangster’s Paradise.”   In these times, however, you must replace the word “gangster” for “bankster.”  What’s the difference anyway?   “After a yearlong investigation, the Justice Department said Thursday that it won't bring charges against Goldman Sachs Group Inc. GS +1.06% or any of its employees for financial fraud related to the mortgage crisis.   “In a statement, the Justice Department said "the burden of proof" couldn't be met to prosecute Goldman criminally based on claims made in an extensive report prepared by a U.S. Senate panel that investigated the financial crisis.”   “…The report concluded that even as securities firms flooded the market with securitized mortgages and advised clients to buy them, firms privately used words like "crap" and "flying pig" to describe the financial instruments.”   Moreover, Goldman even started a special fund to SHORT against the “crap” and “flying pigs” that they were selling to their clients.   No burden of proof, eh?  Nowhere?  Ahh yes, Goldman is living in the Bankster’s Paradise!   Trade well and follow the trend, not the so-called “experts.”     Behold the age of infinite moral hazard! On April 2nd, 2009 CONgress forced FASB to suspend rule 157 in favor of deceitful accounting for the TBTF banking mafia.   larrylevin@tradingadvantage.com Trading Advantage (888) 755-3846     Larry Levin's Trading Advantage is a leading investment education firm that empowers traders to achieve and surpass their financial goals. More than 50,000 students have used Larry Levin's proven techniques for powerful results.     Trading Signals from the Electronic (ES) mini-SP 500                                 No “Secrets” signals. Algorithm positions (2) “Reading the Tape” positions (0)…combined Secret’s, Algo, &   “Reading the Tape” total… -2.50   Click Here to See Yesterday's Detailed Results           Value Areas: ES        1401.50 / 1397.50 POC... 1400.50 YM      13147 / 13105 NQ       2719.75 / 2711.75           Notes from the Pit Click here to read My Links: See how I became a trader See Larry's recommended trading computers Read about my intensive Training Programs IMPORTANT NOTICE: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. Nothing in our website shall be deemed a solicitation or an offer to Buy/Sell futures and/or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on our site. Also, the past performance of any trading methodology is not necessarily indicative of future results. DAYTRADING involves high risks and YOU can LOSE a lot of money. Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those talked about in our site.

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