Posted on 04/30/2010 3:48:15 AM PDT by Scanian
Federal prosecutors have launched a criminal fraud probe of beleaguered Wall Street powerhouse Goldman Sachs to determine if the company ripped off its customers during the subprimemortgage meltdown, it was reported last night.
The Manhattan US Attorney’s Office is leading the investigation, which was sparked by a referral from the Securities and Exchange Commission, the Wall Street Journal reported on its Web site.
The SEC filed a civil securities-fraud case on April 16 against Goldman, charging that the firm duped investors into buying a tanking portfolio of subprime-mortgage securities created by a client betting on them to fail.
The criminal inquiry is focused on different evidence than the SEC is using in its civil case, and additional details were not immediately available, the Journal said.
(Excerpt) Read more at nypost.com ...
Goldman Sachs is deeply involved with the Obama Administration’s plans to rape the U.S. via Chicago Carbon Exchange (CCX). Going after Goldman Sachs will the stupidest action ever taken by these Democrats, because those Wall Street people will never roll over for anyone, period.
GS is IN ON THIS SCAM...it's BOOB BAIT for BUBBAS!!
I’m not as cynical as you, obviously.
NOTHING is as it seems with this REGIME.
You left-wing commie-crat Wall Street wh0res wanted obama... you bought obama... and now he is eating you for lunch... bona petit fools and idiots!
LLS
Punished for making the dems look like idiots during the televised hearings.
You may be right. but let’s not make the mistake of thinking these wall street bankers are our friends.
Precisely. Levin acted the vulgar fool. McCain was old and tired. The clown from Nevada, who passes as a Crist look-alike, was pathetic. It has been so long since government lawyers won an important case, this one is far from a slam-dunk.
Don't tell parsy. He might learn something.
Why does everything boil down to a left/right issue?
If a borrower breaks the law in the act of borrowing said borrower should be held to the letter of the law.
If a lender breaks the law in the act of lending said lender should be held to the letter of the law.
http://www.foreclosurehamlet.org
http://www.oklahomaexpertwitness.com
If I want a friend, I’ll get a dog.
GS is the scapegoat for the corruption that has occurred through the US Congress. As the feds seek out the matters, more Fed governmental corruption will be found implicating many at high levels in the US Congress - get ready for something more than Watergate. The biggest one that will be implicated is Obama.
I want to know why Fannie and Freddie are getting a pass.
Freddie and Fannie are being ignored because they are joined at the hip to Frank and Dodd, the architechs of the global financial meltdown. If Freddie and Fannie were held under the microscope, it would implicate Frank and Dodd. And since Frank and Dodd are heads of the banking committees, this will never happen. They control the scope of the investigation. Now that holder is leading the charge for criminal investigation, someone at Sachs will end up in prison and be villified in obama’s media. I ususally don’t go out on a limb like this, but you can take this to the non tarp taking not yet politicized bank.
Sachs is just paying a little extra protection money if they get fined or have found a new way to launder money to the private slush funds.
First of all, GS invests in a multitude of businesses that they see as a potential money makers. The CCX connection may or may not prove to be corrupt, that will remain to be seen.
As for the Dems going after GS with criminal charges....bring it! Lehman, Bear & Merrill may have been pushed by the gov’t to be acquired or go bust, but it’s doubtful that GS will give up easily or quietly.
And for all the righteous indignation from the Dems....are they going to return all the money that GS has given them? Pass me the popcorn.
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