Monday, April 13, 2009

David v Goliath, Round 0

Well, Mike Morgan sure has guts. Here's to hoping he also has good lawyers... Cause the 5th branch of government (the 4th being PIMCO) can now afford to spend another $5 billion of investor money to see this one to the bitter end... and then the taxpayer subsidies kick in.

Here's rooting for the underdog.

GoldmanSachs666 Complaint zerohedge

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Anonymous said...

There's a literal army of law students who have wet dreams of doing 1st amendment litigation in high profile cases. Morgan will have all the grunts he needs, if he has an experienced IP lawyer to direct them.

Anonymous said...

You're funny! Funny Ha Ha.

Anonymous said...

Some stories good, some completely irreverent.

Smoke screen?

Anonymous said...

Dudes got mad balls. GS better hope he loses or that website is going to be larger than life and will explode with most likely 1MillionFold traffic spike instantly if he wins

Anonymous said...

This is off topic but WTF BAC today? Seriously just a short squeeze or something else?

Anonymous said...

Goldman Sachs set aside $4.7 billion for salaries and bonuses last quarter, after taking in a profit of $1.7 billion. That means that Goldman’s employees stand to profit far more than it’s shareholders from this quarter’s outperformance.

The $4.7 billion in compensation is 50% of Goldman’s total revenues for the quarter. The first quarter of last year, compensation ate up just 48% of Goldman’s revenues. As Heidi Moore at the Wall Street Journal reports, Goldman’s rising compensation comes despite the fact that the firms has cuts its headcount by 7% since the end of last year. That means that the remaining employees are each taking an even bigger slice of the pie.

These bastards need a serious beat down.

Anonymous said...

Open, shut.,2933,203722,00.html

What ever happened to

Anonymous said...

Sometimes it's like you let the folks at Dealbreaker take the reins. Stick to the facts that matter, there is enough of this drivel floating around the web.

Anonymous said...

anon: brilliant: TD is bess with a strap on.

i dare you to tell mike morgan that his story is drivel

mashedpo said...

Both and are available...

Anonymous said...

Isn't it a little bit funny GS is upset that their trade mark 666 is on display. GS coined 666. Is that what they are mad about?

They are basically saying suing him for copyright infringement that what he says is the truth if 666 is so close to what GS stands for correct?

namreleb said...

Actually, the case law favors Morgan here. Courts have upheld the First Amendment rights of the person who registers the domain name or a site used to criticize a company over the intellectual property rights of the Trademark holder, so long as the critical site does not attempt to confuse visitors (e.g., clearly states that the site is not owned by or affiliated with GS) and so long as the owner of the site isn't using the company's trademark for commercial gain (Morgan might have a problem with being short GS on this point - would be interesting to see how a court would rule on that). However, vindication can be expensive.

Fish Gone Bad said...

My thought is that Goldman Sachs did not do any homework and assumed Morgan was a punk and would fold.

That will be a painful $75,000+ mistake. What GS will now do is postpone and backpedal. Eventually enough time will go by that they will just settle out of court and give him an undisclosed sum of money.

Anonymous said...

More proof that GS exec's are living in a bubble of extreme proportions. Sue a blog? As if no one will notice?

It'd be a damn shame if the law school graduates at Chadbourne and Park started receiving so much nasty email that they find it impossible to use their little law school graduate email service.

"John A. Squires" -- what a f-kin riot of a name.

Yo, John, I got your "cease and desist" right here, pal.

KKR Team said...

This is a big item.

Mike is not going to fold up or get some money from GS and run away.

These days websites are a good conduit for something big.

GS did a big mistake by threatening him. Now they will backpedal. They are stuck

KKRs are on the side of Mike.

Enter Agashe.

Anonymous said...

They made a big mistake.

But Mike makes one as well. Too many wacky conspiracy theories.

If he waits long enough people will feed him verifiable information that is just as damning.

Anonymous said...

Congress needs to bring down the hammer on Goldman. The last administration with Paulson literally stole tens of billions of taxpayer dollars to stuff into Goldman's coffers. This was the biggest theft in history and Goldman needs to be prosecuted for it.

Go Daddy O said...

hmmm, wonder what Bob Parsons CEO of GoDaddy thinks of this cease-and-desist letter?

anybody got Twitter?


mind sendin him a tweet on the twits?

Anonymous said...

Tony Falzone and the FUP should take this one up. I bet it is high profile enough that he will. I think this is a bogus infringement charge on the part of Goldman Sachs.

maximus said...

He's been quiet so far but now Goldman Sachs has Thomas Jefferson really pissed....


PS TD, I added this post to the existing post....just adds to the frustration

Anonymous said...

Hmm...I wonder if single-share holders are eligible to attend shareholders' meetings and raise hell....

Kingfish said...

They went for a jury trial? Were they nuts?

Anonymous said...

Sounds like (mostly) all you anonymous are in agreement! If anyone wants to get their hands on the list of counterparties for AIG, and then add together all the affiliates of Goldman to the total that GOldman got out the back door of AIG, i wonder what that sum would be? Did you know that lover boys hank and ben denied Lehman of a 6 billion dollar loan before it went down? Think of the total bet that Goldman and Morgan and all their affiliates had on Lehman going down--that was an instant win, then the one two boom kazowie win with money free from AIG...they were both going down just like Lehman, but instead, hank and ben hand out the territory to gs and ms and then set up a two week lobby to give more free money to make sure the lovlies have no problems...meanwhile, on capital hill they were kicking the auto guys in the teeth and spitting on them. What a monumental scam...will it ever be investigated? one can only hope that they all go to jail.

Anonymous said...

are you guys kidding me?
Don't be surprised if Goldman does not win this case even though case law is against them. This is Goldman Sachs not some five and dime down the street.
They OWN Washington DC! Come on and get real!

Why do you think the government has been sending trillions of your kids tax dollars to their coffers. Because the government is OWNED by them.

Anonymous said...

Looks like overnight brought the GS ask down to 127.

They are going to have to pump guidance a little.

FMV target is 150 for GS so they can maximize the new offering.

Unknown said...

IP law - open and shut in favor of GS

Law of public opinion and a jury trial - open and shut in favor of Morgan

PR 101 - Morgan A+ GS F

GoDaddy - he nearly did an IPO back in the day - maybe GS can help him out on a Quid Pro Quo basis

namreleb said...


Yes, the IP law (Lanham Act and cybersquatting issues) is clearly in favor of GS, but the First Amendment Law is in favor of Morgan. When confronted with similar dilemmas in the past courts generally have found in favor of the First Amendment rights. However, having the law on your side doesn't mean you will win, as the other side can make it very difficult, time-consuming, and expensive to get to a final judgment. Morgan used a very small law firm that does appear to have a lot of litigation experience to file his lawsuit, perhaps indicating that he doesn't have the resources to go the distance here.

Anonymous said...

Mike Morgan had to know this was going to happen before it did.

The only problem he has is the domain name. If he had named it (without the sachs), there would be no lawsuit.

He'll probably end up changing it. I assume this was just done for publicity. Because if he didn't expect this would end up in a lawsuit beforehand, he's pretty naive.

Anonymous said...

I'm a client of Morgan's since last summer. Haven't made all his trades, and it's a damn good thing - he's getting killed with his shorts now. I've got a bearish streak, but I'm sure as hell not dogmatic about it.

Thing is, Mike IS dogmatic about it. He's a capital C Crusader. He's a devout Christian, and whether that means "nut" or just "passionate about his beliefs", he's got this cast in his mind as a jihad (sorry for mixing the religious metaphors, but I'm making a point here) - he'll go all the way with this "GS is Evil Incarnate" thing, even if it ruins him, and if GS is of a mind, it just might.

Anonymous said...

Does being sued by Goldman give Mike Morgan standing to serve them with a discovery request relating to the items in his blog?

Not a lawyer, but I've seen closeup the amount of data turned over as a result of discovery in these big law/big client cases. If you haven't seen the millions of documents involved, you have no idea what a discovery can yield.

I bet that, in the face of a massive discovery request across all these blog items, they fold up and run. No way is Mike Morgan's site worth it to them if they have to turn over massive amounts of internal documents, emails, etc.

Just my guess.


Anonymous said...

GoldmanSachs666 is a dis-info site put up by Goldman, to tell us all the obvious facts, that we already know, thereby distracting us from the real conspiracy of GS crashing the market in 08!
Here is how I see it.
1. GS shorts the ABX(subprime) in 07. Makes a Billion or 2. Sends a ripple in the markets.
2. GS men at the Exchanges raise margin requirements forcing massive liquidation in JULy 07, not to mention cornering the oil market.
3. GS men at the SEC raise margin in 08, lower regulation increasingly over entire tenure.
4. There man Hank Paulson took Lehman in the other room, executation style. That really got things rolling (downhill)
5. Then, GS influence at Mood'yS(warren buffet) slashed AIG rating forcing them to find Billlions overnigth,
6.Then Hank Pauslon shows up with his $700 Billion ransome note. After stock markets crash around the world for 10 days, congress gives the big five banks their money.
7. Jim Cramer, former partner of GS, after watching the market crash for 10 days, tells America to sell everything. If we see a rally this year, you know Cramer is in on it
8. Rubin was a trojan horse on Citi's Board, encouraging them to get long and heavy in realestate.
9. AIG and Citi were made fall guys from the beginning, "to big to fail" was the plot
10. It's possible that GS even inflitrated Freddie and Fannie. It's obvious IndyMAc was a front to push liars loans.