Senate panel slams Goldman in scathing crisis report

[defendandprotect]

Senate panel slams Goldman in scathing crisis report


By Kevin Drawbaugh Kevin Drawbaugh –

WASHINGTON (Reuters) – In the most damning official U.S. report yet produced on Wall Street's role in the financial crisis, a Senate panel accused powerhouse Goldman Sachs of misleading clients and manipulating markets, while also condemning greed, weak regulation and conflicts of interest throughout the financial system.

Carl Levin, chairman of the Senate Permanent Subcommittee on Investigations, one of Capitol Hill's most feared panels, has a history with Goldman Sachs.

He clashed publicly with its Chief Executive Lloyd Blankfein a year ago at a hearing on the crisis.

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Levin accused Goldman of profiting at clients' expense as the mortgage market crashed in 2007. "In my judgment, Goldman clearly misled their clients and they misled Congress," he said, reading glasses perched as ever on the tip of his nose.


http://news.yahoo.com/s/nm/us_financial_regulation_report

[sabrina 1]

1. Levin has been very angry at these criminals. I hope we start

to see some prosecutions, investigations etc. These are the people who created a world wide economic collapse, and I think Levin is being kind. They deliberately scammed people and someone should be going after them, like the DOJ and finding out where our money is.

Now, Congress is demanding that ordinary people pay the debts they ran up. It is simply ludicrous.

I hope this gets lots of coverage and that it doesn't stop with just a slap on the wrist.

[notesdev]

2. You won't see prosecutions under this President

which means that the statute of limitations will run out and they will all get away with their historic crimes.

Read 'em and weep:

http://www.opensecrets.org/pres08/contrib.php?cycle=2008&cid=N00009638

[sabrina 1]

4. Is there a statute of limitations on crimes of this magnitude that.

that not only nearly destroyed this country, but the economies of other countries as well? It borders on treason as no enemy of the U.S. could have done as much harm. Millions of Americans have lost their jobs and homes and will most likely never recover.

And it should not be in the hands of the president. This is Congress' job. Assuming all of them are not bought either.

Just checked the link. This really is the heart of the problem with this country. Something has to be done about it. Goldman Sachs. Yes, I see what you mean.

[Lugnut]

3. So do something about it, Carl!

Talk is cheap.