Germany and Britain may lauch probes into International Bankster Goldman Sachs

[marmar]

Goldman Sachs May Face U.K., German Probes After Suit (Update1)
By Michael Patterson and Tony Czuczka


April 18 (Bloomberg) -- Goldman Sachs Group Inc. faces a regulatory probe in Britain and scrutiny from the German government after the U.S. Securities and Exchange Commission sued the firm for fraud tied to collateralized debt obligations.

Prime Minister Gordon Brown today called for the Financial Services Authority to start an investigation, saying he was “shocked” at the “moral bankruptcy” indicated in the suit. Germany’s financial regulator, Bafin, asked the SEC for details on the suit, a spokesman for Chancellor Angela Merkel said.

Politicians that were forced to bail out their banks during the financial crisis are turning on Goldman, which critics say helped caused the turmoil and profited from it. The European Union is also probing Goldman’s role in arranging swaps for Greece that may have masked the country’s budget deficit.

“We will see politicians throughout the world piling on Goldman Sachs,” said Scott Moeller, a former investment banker now teaching at Cass Business School in London. “Now they have vulnerability. Everyone and anyone, especially politicians, are going to be trying to make hay with this one.” ...........(more)

The complete piece is at: http://www.bloomberg.com/apps/news?pid=20601087&sid=aQUeUoTH.BmI&pos=1

[Warpy]

1. I think much of the world is going to pile on with this one

especially the countries who most severely damaged by the scam.

Even if the movers and shakers aren't marched off to prison in the US, you will see a lot of countries trying to extradite them.

The smartest guys in business might finally have outsmarted themselves. The whole world is calling for their heads.

[flyarm]

2. the fact that this is in civil court in our country and not criminal and there is one 31 yr old

kid being scapegoated..is an utter disgrace..but of no suprise to me..heck this administration is surrounded by Goldman boys club..

someone of legal mind posted this at Talk Left..and I found it very profound:


Sort of worse in a way because (none / 0) (#5)
by inclusiveheart on Fri Apr 16, 2010 at 01:39:57 PM EST

it is like getting a bunch of friends to chip in to build the house, putting the insurance policy in your name only, burning it down and collecting all of the loot. And even before all that charging all your friends for contractor's and other management fees etc. while the house is under construction.


We are still having nothing but a damn dog and phony show shoved down our collective throats!

I had a neighbor ..who is a top dog at UBS....I mean one of the top 5 at UBS...he is and always was a rabid Republican...rabid...in fact we used to get in major arguments and I was the brunt of jokes, as I was a rabid democratic ..

In fact it went so far as, he and a few other wall street guys in the neighborhood filled my yard with republican campaign signs..while I was away at work..I came home to my yard with 300+ republican campaign signs..they thought it was hysterical..I however did not..

well I 2008 this guy ..rabid republican ..gave a shit load of money to Obama..and the democrats ( DNC )..

These people may fool some here..but i will never be fooled by what is going on..and do not think any of the big guys will take any kind of fall..

This republican who gave so much money to Obama..just built a new huge mansion ..and a huge big mansion on the beach where i live!

[malaise]

3. Don't forget they also sold lots of that crap to

the Chinese. The fun has just begun.

[LeftishBrit]

4. k&r and hope they get SOME of what's coming to them!

Even if they stay out of prison, it won't exactly be good for their business and their careers to have the whole world baying for their blood.