Wall Street Grins as Washington Fiddles

Jim Hightower, Truthout: "Performing a public service was undoubtedly the last thing on the minds of the geniuses who created Abacus 2007-ACI - but I, for one, am grateful to them. Abacus is an infamous investment package created by the financial alchemists at Goldman Sachs. It fell into infamy because it is the convoluted scheme that has recently caused mighty Goldman to get its tail caught in a crack."

//www.truthout.org/jim-hightower-wall-street-grins-washington-fiddles58929



A Black Panther and a Goldman Sachs Banker Walk Into a Bakery ...

Andrew Birnbaum, Truthout: "Black Panther George Jackson wrote about black men imprisoned for 'some form of food getting.' If these men were seeking a necessity, what were the Goldman Sachs bankers seeking when they contributed to the economy's collapse?"

//www.truthout.org/a-black-panther-and-a-goldman-sachs-banker-walk-into-a-bakery58958



Goldman Sachs May Have Lied Under Oath

Yana Kunichoff, Truthout: "Reuters reported the unveiling of a new immigration bill by Senate Democratic leaders yesterday, with an emphasis on bolstered border security. Senate Majority Leader Harry Reid and fellow Democrats moved to overhaul the nation's 'broken' immigration system in the wake of Arizona's crackdown on undocumented immigrants. "

//messenger.truthout.org/ss/link.php?M=218701&N=640&C=89f7caada66e1246c446c82a45236d36&L=5217



Goldman Didn't Tell SEC About Mortgage Moves for Months

Greg Gordon and Chris Adams, McClatchy Newspapers: "In December 2006, Goldman Sachs embarked on a frantic effort to shed billions of dollars in risky mortgage securities and purchase exotic insurance to protect itself against what it had concluded could be the collapse of America's housing market."

//www.truthout.org/goldman-didnt-tell-sec-about-mortgage-moves-months59062



Worse Than 1789?

James Howard Kunstler, Truthout: "Sen. Carl Levin pretty much had Goldman Sachs's (GS) Lloyd Blankfein dead in a casket with that now-notorious email from GS's head of sales and trading, Tom Montag, describing one of their billion-dollar investment 'products' as 'one shitty deal.' Levin seemed to delight in crossing the boundary into the realm of the unspeakable, knowing that even the so-called 'family' newspapers and cable TV networks would have to report it."

//www.truthout.org/worse-than-178959114



In Flight From Reality

Cary Fraser, Truthout: "On November 8, 2009, the Sunday Times of London ran a story on the Wall Street firm Goldman Sachs, which was headlined: 'I'm doing "God's work." Meet Mr. Goldman Sachs.' The idea of the investment firm doing God's work was attributed to the Chairman and CEO Lloyd Blankfein. The rich irony that underpinned this image of Blankfein was indicative of the rhetoric that has emerged in the defense of the workings of Wall Street amid growing evidence of both incompetence and chicanery on the part of major investment houses and assorted banks."

//www.truthout.org/in-flight-reality59838

--------

Goldman Sachs spins
//www.brasschecktv.com/page/837.html

--------

Goldman on the stand: “God, what a piece of c...”

The Nation
by Robert Scheer

04/28/10

It was the Perry Mason moment in the unraveling of what was left of Goldman Sachs’s reputation. Only in this case, it involved a grizzled former prosecutor, Senator Carl Levin, rather than a genial defense attorney. The case was broken and the truth about the depth of Goldman’s corruption revealed in his startling cross-examination of Goldman Chief Financial Officer David Viniar. The Michigan Democrat, citing the language of the internal e-mails of Goldman traders concerning the deceptive products they were selling, asked: ‘And when you heard that your own employees in these e-mails are looking at these deals said ‘God what a s... deal. God, what a piece of c...,’ when you hear your own employees and read about those e-mails, do you feel anything?’ Viniar’s answer told us all we need to know about the banal but profound immorality of Goldman’s business culture: ‘I think that’s very unfortunate to have on e-mail’...

//www.thenation.com/doc/20100510/scheer


Informant: Thomas L. Knapp

--------

Justice Department Opens Goldman Sachs Criminal Investigation

By Zachary A. Goldfarb and Jerry Markon

It is rare for the government to indict a company, and even the threat of criminal prosecution can doom a business. A criminal investigation destroyed the Wall Street firm Drexel Burnham Lambert in the 1980s even though the firm settled with authorities.

//www.informationclearinghouse.info/article25355.htm



Goldman fraud case goes to the next level

The noose is tightening around the neck of Goldman Sachs Group Inc. Will clients continue to hold the firm up?

//snipurl.com/vwj2j


From Information Clearing House

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New York Marchers Protest Wall Street, Big Banks
//www.commondreams.org/headline/2010/04/30-6



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