Posted on 04/17/2010 7:36:39 PM PDT by george76
Potentially interesting development here. Germany may pursue some action against Goldman Sachs (GS) relating to the CDOs itself to a German bank.
Remember, Germany already has hostility towards the company due to its apparent role in helping Greece hide its debt in order to gain entry into the EU.
With Merkel on the ropes a bit due ot the Greek bailout, going after Goldman would probably be a smart political move.
(Excerpt) Read more at businessinsider.com ...
how many of Obama’s bunch have Goldman ties, past and present???
So, would this be a criminal complaint, instead of a weak civil complaint?
What is going on with Goldman? Isn't it one of the enterprises that we ALL HAD TO DONATE our HARD EARNED MONEY to in order to bail them out? Who are they? Would it not be NICE to have names and faces to ATTACH to the head honchos at Goldman who would rip apart their own nation for the mighty buck?
Hope they go after GS with the fervor of the MSM going after the Tea Partiers.
The German Landesbanks failed early in the subprime crisis, and, the Germans were awakened to the criminal derivative fraud in their eyes then. Surely they will not want a civil fraud case against Goldman as the SEC issued and be satisfied with Goldman paying a fine? They must be seeking real financial restitution and jail terms.
NOW, THIS could get interesting.....
Every bank failure in Germany....goes back to US investment schemes. In this case...if I were in the top management of Goldman Sachs from last year...I’d start to worry. The Germans will carry this into court and ask to have people put on the plane to Europe to face charges. The curious thing will be if the President “lets” them go or not.
He's Philip D. Murphy. You've already guessed who he used to work for.
Good comment.
“The curious thing will be if the President “lets” them go or not.”
WEll, following the Chrysler dealership examples, maybe just the handful of independent or Republican ones, if any.
You mean ... Clinton era Richard Rubin, ties to GS, George W Bush era Paulson, ties to GS, Larry Summers, ties to GS, Timmy "Turbo Tax" Geithner, ties to GS ... etc. etc.
Good. I hope it negatively affects Obama and Soros and all his elitist friends who think they know what’s good for us.
We are not children and we don’t want Obama or Soros as a parent.
marked for future reference
Greece is responsible for the full disclosure of its debt, not anybody else. The EU is looking for someone to blame. Unfortunately our illustrious president will gladly take the blame, no doubt.
Probably not much. The MSM is looking to villify banks as much as possible to help Obama and the democrats curry favor with Americans so that the banking bill can be passed. This is part of the PR plan to move us to government take over of the banking system.
O’s gang is connected to all the hedge funds involved. Still no regulation of hedge funds by the SEC because hedge funds own the senate. I hope the German rip Goldman to shreads and ban them from Germany.
So, let’s see..
The U.S. Government pushes for ‘new loan products’ to expand the individuals eligible for loans...and then the banks look for ways to comply AND dispose of the toxic assets...and the investors that hold the crap with fraudulent ‘ratings’ get mad.
Hmmm...
All of them...
One can only hope some of these people go to jail. That might be the only thing that gets their attention. Here is a good article by Denniger on this issue:
http://market-ticker.denninger.net/archives/2210-Weekend-Corruption-Roundup.html
parsy, who is reading like crazy on this stuff
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.