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Archive for Friday, April 30, 2010

Source: Criminal probe of Goldman under way

April 30, 2010

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— The U.S. attorney’s office in Manhattan is conducting a criminal investigation of Goldman Sachs over mortgage securities deals the big Wall Street firm arranged, a knowledgeable person said Thursday.

The person said the probe stems from a criminal referral by the Securities and Exchange Commission. The source spoke on condition of anonymity because the inquiry is in a preliminary phase.

The SEC earlier this month filed civil fraud charges against Goldman and a trader in connection with the transactions in 2006 and 2007.

The agency alleged the firm misled investors by failing to tell them the subprime mortgage securities had been chosen with help from a Goldman hedge fund client, Paulson & Co., that was betting the investments would fail. Goldman has denied the charges and said it will contest them in court.

Comments

Richard Heckler 4 years, 8 months ago

Throw them in jail.

Published on Thursday, April 29, 2010 by GRITtv

Slap 'em in Stirrups! What's Good Enough for Oklahoma Women Is Good Enough for Goldman

by Laura Flanders

Democrats in D.C. are going about this regulation thing all wrong. Want to get Republican buy-in? Give Republicans the kind of regulation they like. As usual in U.S. politics, the states provide the road map.

Take Arizona. There, the party of small government's just released police to stop people on suspicion. Want to break GOP resistance to financial regulation? Release the SEC to spot-check Wall Street. Anyone who looks suspiciously likely to be hawking synthetic derivatives? Slap ‘em in detention until their lawyers can prove they're innocent. It's all in the interests of crime prevention.

Oklahoma's state legislature just overrode the governor's veto of two laws related to pregnancy and abortion. Personal privacy's nice but even good people sometimes make bad decisions, said legislators. Now women who'd like to terminate a pregnancy will be subjected to mandatory vaginal scans and forced to view fetal porn videos. Want to reduce credit default swaps?

Before they make another risky bet, let's force traders to slap on a gown, step in those stirrups, and subject themselves to a mandatory scan of their stock portfolios, while watching American Casino or Plunder or listening to the live, panicked heartbeat of manipulated mortgage owners.

Regulators need to remember that even the die-hardest conservative's OK with some regulation. If it's good enough for the women of Oklahoma, it's good enough for Wall Street. Right?

The F Word is a regular commentary by Laura Flanders, the host of GRITtv which broadcasts weekdays on satellite TV (Dish Network Ch. 9415 Free Speech TV) on cable, and online at GRITtv.org and TheNation.com. Support us by signing up for our podcast, and follow GRITtv or GRITlaura on Twitter.com

Cooky_the_Cook 4 years, 8 months ago

Has anyone ever actually read one of Merrill's posts? It's like trying to read a phone book from cover to cover, except in this phone book someone has scribbled copies of spam emails on every page. I would advise against it.

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