Skip to comments.Federal criminal probe into Goldman (mortgage) trading: report (WSJ.com says so, SEC - No comment)
Posted on 04/29/2010 6:21:35 PM PDT by NormsRevenge
NEW YORK (Reuters) Federal prosecutors are conducting a criminal probe into whether Goldman Sachs Group Inc (GS.N) or its employees committed securities fraud in connection with its mortgage trading, the Wall Street Journal reported on its website on Thursday.
A spokeswoman for the office of the Manhattan U.S. Attorney said she could "neither confirm nor deny" any Goldman investigation. Goldman was not available to comment.
(Excerpt) Read more at news.yahoo.com ...
I guess all those campaign contributions paid off. LOL.
Only for Fannie and Freddie.
What about Chris Dodd, the friend of Angelo???
You know how goes? They had to hedge their bets. Spread it around.. all that dough.
If nothing else, becoming a forensic computer tech might be a profitable move for up and comers. The SEC could use a few good ones I hear.
Yeah, time to add more to the SEC payroll to surf porn.
He’ll probably get to ride on a float in the Rose Bowl Parade next year and a Medal of FReedom.. and free healthcare for life.
There will be no Federal Prosecution. I hope some state comes along and presses charges. Then watch the Obama regime circle the wagons around their buddies at Goldman Sachs.
COMING TO A TOWN NEAR YOU Mother Jones magazine circa Feb 2007 reported on the activities of Mark Florian, Chief Operating Officer of Goldman Sachs' municipal finance division. According to the report, Florian was traveling to statehouses across the US to convince state officials that selling state assets would be "mutually beneficial." One of the scams involved "monetizing state roads. NOTE WELL: Monetizing means G/S bonding (AKA taxpayer debt)----which earns $billions for G/S til the end of time.
Then-NJ Gov Corzine (ex-Goldman head) stationed Goldman Sachs functionaries in state government as the issue of road monetization surfaced. Corzine hired four G/S buddies, including G/S alumnus Bradley Abelow as state Treasurer. Corzine took a road show across the state to sell the monetization deal. However, monetizing NJ roads hit a large pothole and collapsed like a flat tire---b/c taxpayers were onto the G/S bonding-debt scam.
REFERENCE Goldman Sachs opened an office in Princeton NJ 2006 when Corzine was elected governor (the better to loot the NJ Treasury).
Goldman Sachs Hedge Fund Partners
701 Mount Lucas Rd
Princeton, NJ 08540-1911
G/S Hedge Fund Partners advertises it seeks investments in traditional infrastructure sectors including transport infrastructure such as "monetizing" toll roads, airports and ports as well as "monetizing" regulated gas, water and electrical utilities.
GOOD FOR GOLDMAN, BAD FOR AMERICA (G/S the major toll collector on govt's red-ink railroad)
BY TERRY KEENAN, anchor of Cashin' In, Fox News Sat 11:30 AM.
EXCERPT G/S morphed into a commercial bank to take advantage of gov't handouts, yet Goldman is really a hedge fund on steroids, with trading accounting for 69% of gross revenue in the first quarter........ a big chunk of its trading involves US govt debt -- federal, state and local...... G/S has a huge vested interest in the US digging a deeper and deeper hole.........trading govt IOUs is big business.....one of the few growth markets on Wall Street. IPO's, M&A's, etc, have yet to recover but the US will borrow a record $3.25 trillion in the current fiscal year -- four times as much as in 2008.
With its biggest competitors out of business, G/S is a major toll collector on Washington's red-ink railroad.......a "debt tsunami" that will lift Goldman's fortunes. G/S plays on the bankrupting of America -- the more we borrow, the more they make........ ........but the American public should know this side of the G/S profit miracle.
Through savvy trading and management, G/S set aside $11.4B this year to compensate its employees on a playing field cleared of its top competitors and soon after Uncle Sam bailedout G/S with $10B TARP -- and millions more through AIG, all paid for by taxpayers.
G/S benefits nicely from the govt borrowing binge that was triggered in part by the banking crisis that started in Wall Street's own backyard.