By Padmini Arhant
All the reports on Goldman Sachs from various credible sources confirm the fact that,
There is more to it than meets the eye.
SEC investigation must go underneath the surface.
For Goldman Sachs – it’s analogous to “make a mountain out of molehill.”
When in fact, it’s an erupting volcano that has already claimed many lives and threatening more in the present.
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By Padmini Arhant
The Securities and Exchange Commission filed lawsuit against Goldman Sachs on the toxic derivatives camouflaged with the internationally renowned investment firm, authenticating the risky mortgage securities sold to trusting investors in the domestic and global financial market.
Goldman Sachs is engaged in Investment Banking, Trading and Principal Investments, and Asset Management and Securities Services.
Needless to state that sub-prime mortgage is synonymous to the ‘speed boat’ designed for a fatal crash due to the deliberate sabotage. Sure enough, it had a negative impact on the financial and housing market that contributed to a precipitous economic decline worldwide.
The savvy designers protected their own investment with ‘insurance’ on the ‘abyss’ through yet another global conglomerate ‘AIG,’ technically partners in the ingenious profit oriented craft.
Why?
Because, the insurance companies grill the ‘regular folks’ when applying for any insurance to minimize risk exposure.
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Program Evaluation - By Padmini Arhant
Making Home Affordable program targets the vulnerable homeowners on the verge of losing their homes.
Mortgagees who are unemployed, underwater and delinquent in their payments could seek assistance provided they meet the criteria.
Aligning mortgage debt with the asset value in order to help people retain ownership is a prudent measure to stabilize the struggling housing market.
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By Padmini Arhant
I would like to thank the visitors to the website www.padminiarhant.com in the United States, India and around the world.
Your love and support makes the effort worthwhile.
As stated in the profile, the website objective is to promote peace, progress and prosperity for all with a major focus on protecting the environment, thus far the only ideal habitat for living species in the universe.
It is depicted in the logo – “Save the Planet,” and “Peace on Earth.”
That being the goal, I express my gratitude and deep appreciation to the readers of my articles for taking the time to read and reflect on the topic.
In coherence with the paradoxical universe,
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By Padmini Arhant
The Wall Street bailout season commenced in 2008 and continued into 2009. Those corporations allied with the oligarchs not only survived but their CEO’s are thriving amid difficult economic times and some states experiencing a double-digit unemployment.
As stated earlier in numerous articles on the economy and the financial sector, the speculators’ reckless conduct together with greed led to the status quo. The sub-prime mortgage and credit card lending practices targeting the vulnerable population contributed to the housing market decline and the alarming bankruptcies.
In addition, the credit crunch has forced many small businesses to lay off employees and left the self-employed in a dire situation. The private sector have also been affected in the liquidity crisis triggering the 9.7 percent national unemployment rate and much higher when consolidated with the under employed statistics.
Evidently, a rigorous financial reform is necessary to revive the economy and avert future meltdown.
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By Padmini Arhant
In the preceding article “Progressive Policy for National Progress and Prosperity,” I emphasized on the need to intercept the Congress gridlock by electing the ‘Progressives,’ in the Democratic Party.
Following news articles reaffirm such recommendation.
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1. Congress trying to have it both ways on spending
Lawmakers lament rising deficits but fight for pet projects
By Carl Hulse – New York Times – February 7, 2010 -
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