interestrateripoff Posted June 2, 2011 Share Posted June 2, 2011 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. Quote Link to comment Share on other sites More sharing options...
South Lorne Posted June 2, 2011 Share Posted June 2, 2011 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.... Quote Link to comment Share on other sites More sharing options...
crash2006 Posted June 2, 2011 Share Posted June 2, 2011 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. Quote Link to comment Share on other sites More sharing options...
Mikhail Liebenstein Posted June 2, 2011 Share Posted June 2, 2011 ...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.... 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. Quote Link to comment Share on other sites More sharing options...
South Lorne Posted June 2, 2011 Share Posted June 2, 2011 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.... Quote Link to comment Share on other sites More sharing options...
RufflesTheGuineaPig Posted June 2, 2011 Share Posted June 2, 2011 Using the word Patsy implies they aren't guilty... Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted June 2, 2011 Author Share Posted June 2, 2011 Using the word Patsy implies they aren't guilty... Fallguy better? Not sure I agree with it implies they aren't guilty. I'm using patsy here as they'll be sacrificed to keep the elites in power. Quote Link to comment Share on other sites More sharing options...
okaycuckoo Posted June 2, 2011 Share Posted June 2, 2011 (edited) 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 June 2, 2011 by okaycuckoo Quote Link to comment Share on other sites More sharing options...
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