Spitzer says the due diligence docs in the MBS fiasco could be the holy grail

[dkf]

From a prosecutors PoV. They need to subpoena and find out exactly who saw those docs.

If Goldman Sachs etal shorted mortgage backed securities based on the due diligence docs showing a large segment did not comply with stated underwriting standards that would be insider trading.

Spitzer can be seen here.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=385x515026

[sabrina 1]

1. Too bad Spitzer was not AG of NY when all this was beginning to

surface. Maybe the truth will come out despite all the efforts made to cover it up. But if it does, it will be because of greed. They have hurt far too many people not to have some of them finally fight back. And that is what has happened. A few people refused to pushed around and took their cases to court. And that is where the corruption finally could no longer be hidden.

[dkf]

2. I don't know how they let these guys get away again.

We need to weed out the bad actors or investors will stay out of the market. No confidence in the stock market means no faith in capitalism or in this country.

[Subdivisions]

3. But he was there really really close to the beginnings of all this. And the timing

of his indiscretions being made public looks pretty coincidental.

[Sherman A1]

4. Agreed

Nevertheless this has all sorts of potential.

[dkf]

5. It makes you wonder if the investigators already knew this

Because they have been investigating the fabulous Fab incident already.