Goldman Probed by U.S. Agencies After Senate Refers Mortgage-Bond Findings

[SecularMotion]

Source: Bloomberg

U.S. senators formally referred to the Justice Department and the Securities and Exchange Commission an investigative report that found Goldman Sachs Group Inc. (GS) misled clients about mortgage-linked securities.

Senators Carl Levin of Michigan, the Democratic chairman of the Permanent Subcommittee on Investigations, Tom Coburn of Oklahoma, the senior Republican, signed a letter asking the agencies to examine the panel’s report, Levin said in an interview yesterday. The results of the investigation, made public by the committee April 13, lay much of the blame for the credit crisis on Wall Street banks that earned billions by enticing clients to buy the risky bond deals.

“If something comes up that needs to be reviewed by some agency, it gets referred,” said Levin. “That’s the way we do it.”

The scrutiny is a setback for Goldman Sachs, which hired lawyers, lobbyists and public relations specialists to monitor the two-year Senate probe and tamp down any controversy that arose from the subcommittee’s conclusions.

Read more: http://www.bloomberg.com/news/2011-05-03/levin-report-accusing-goldman-of-deception-referred-to-u-s-justice-sec.html

[Guy Whitey Corngood]

1. Yes! nt

[DCKit]

2. I hope they had the sense to hire a drunken, angry and incompetent proctologist for the job. nt

[lonestarnot]

3. lol.

[go west young man]

4. Hell yes.

These bastards make Bernie Madoff look like Mother Teresa. They orchestrated the biggest daylight robbery in the history of the world.
I would love to see em go down. I seriously doubt they will as they have pretty much taken over our government but just the same it's
nice to dream of it.

[still_one]

5. Does anyone really think this will amount to anything? Sure they will go through the motions

and then just slap them with a fine, and not change anything regulatory wise to cause it not to happen again

[Moostache]

6. Now is the time to start watching the donations from them very closely...

Ooops...that's right in the new post-"Citizen's United" world we live in, Lloyd Blankfein and the fucking thieves at Goldman Sachs with pour cash on politicians so much that it would make all previous efforts to buy the system pale in comparison...of course now there is no disclosure requirement to even know how much they spend on remaining free and uncharged.

[Historic NY]

7. Bring out the rubber gloves.