Skip to comments.Senate probes Goldman, Deutsche: report (looking for evidence of fraud in the 2008 meltdown)
Posted on 07/30/2009 3:57:40 PM PDT by NormsRevenge
(Reuters) Goldman Sachs Group Inc (GS.N) and Deutsche Bank AG (DBKGn.DE) were issued subpoenas by a U.S. Senate panel looking for evidence of fraud in the 2008 mortgage-market meltdown, the Wall Street Journal said, citing people familiar with the matter.
The paper said the focus of the investigation is on whether internal communications show executives at the banks had private doubts on the soundness of the mortgage-related securities they were putting together.
The people told the paper Washington Mutual Inc, which is now mostly owned by JP Morgan Chase & Co (JPM.N), was also issued a subpoena by the U.S. Senate Permanent Subcommittee on Investigations
The paper said several other financial institutions may also have received subpoenas from the sub-committee that is headed by Senator Carl Levin.
A Goldman Sachs spokesman declined to comment on the subpoena to the paper, while Deutsche Bank did not immediately respond to a request for comment by the paper. Subcommittee investigators declined to comment to the paper.
(Excerpt) Read more at news.yahoo.com ...
Note to Dems: Look within.
From which they will invariably avoid doing.
The primary fraud is the one perpetrated on the American people by the United States Congress.
Capitol Hill is at war with America.
I’m sure the execs had no idea. Uh-huh.