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Goldman Sachs 'issued With Subpoena' Over Actions During Credit Crisis

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http://www.guardian.co.uk/business/2011/jun/02/goldman-sachs-gets-subpoena-over-credit-crisis-acitivity

Manhattan's top law enforcer is believed to have issued subpoenas to Goldman Sachs as he investigates the firm's activity during the credit crisis.

Manhattan district attorney Cyrus Vance Jr is pursuing claims made by an official senate investigation into Wall Street's role in the housing market collapse.

The report, published in April, singled out Goldman Sachs for particular criticism, accusing the bank of misleading buyers of mortgage-linked investments. The bank encouraged buyers to invest in mortgage-related securities even as it was betting heavily against the mortgage market, according to the report.

Senator Carl Levin, a persistent critic of the bank, accused Goldman executives, including chief executive Lloyd Blankfein, of giving "misleading and inaccurate" evidence to the committee. Goldman said its executives' testimony was "truthful and accurate".

The report was referred to the US department of justice and the financial watchdog the Securities and Exchange Commission (SEC), which are also investigating.

"This is just another thorn in Goldman's side," said Peter Henning, a professor of law at Wayne State University in Detroit, referring to the negative publicity Goldman has suffered from government and the media since the financial crisis began three years ago. The subpoena was the first stage of an investigation, Henning said.

The political elite need a patsy for this mess, what better patsy could there be than the giant squid? Matt Taibbi has certainly been writing some interesting articles on them.

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http://www.guardian.co.uk/business/2011/jun/02/goldman-sachs-gets-subpoena-over-credit-crisis-acitivity

The political elite need a patsy for this mess, what better patsy could there be than the giant squid? Matt Taibbi has certainly been writing some interesting articles on them.

...like many on here they saw the crash coming ...but they decided to make money out of it.....at the expense of the greedy troughers.... :rolleyes:

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http://www.guardian....risis-acitivity

The political elite need a patsy for this mess, what better patsy could there be than the giant squid? Matt Taibbi has certainly been writing some interesting articles on them.

They'll go to court if it gets that far and nothing will happen, propaganda for GS as the report will say they were acting within boundaries, just like the1930s when they did the same, just to get GS of the hook.

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...like many on here they saw the crash coming ...but they decided to make money out of it.....at the expense of the greedy troughers.... :rolleyes:

Goldman's value as an entity is now almost zero, they only value in the share price is a reflection of the assets held (presumably these have all been correctly marked to market).

Goldman will be taking the wrap for this and probably won't be round in 5 year times. But the parasites will just relocate themselves in a new shell and continue to feed off their victims.

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Goldman's value as an entity is now almost zero, they only value in the share price is a reflection of the assets held (presumably these have all been correctly marked to market).

Goldman will be taking the wrap for this and probably won't be round in 5 year times. But the parasites will just relocate themselves in a new shell and continue to feed off their victims.

...just like the troughers ...but many of them have already gone.... :rolleyes:

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They'll go to court if it gets that far and nothing will happen, propaganda for GS as the report will say they were acting within boundaries, just like the1930s when they did the same, just to get GS of the hook.

If GS go in front a jury they are dead. And their shareholders know it.

ps. Bring back juries to the UK. Please. Can't take much more of this bureaucratic justice.

Edited by okaycuckoo

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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