{"id":5035,"date":"2011-06-07T01:50:28","date_gmt":"2011-06-07T08:50:28","guid":{"rendered":"http:\/\/www.politicsplus.org\/blog\/?p=5035"},"modified":"2011-06-07T01:50:28","modified_gmt":"2011-06-07T08:50:28","slug":"will-this-bankster-be-busted","status":"publish","type":"post","link":"https:\/\/www.politicsplus.org\/blog\/2011\/06\/07\/will-this-bankster-be-busted\/","title":{"rendered":"Will This Bankster Be Busted?"},"content":{"rendered":"

I feel angry that, given all the suffering they have caused, the worst offenders among Wall Street\u2019s criminal banksters have gotten away with their crimes.  The exception is Bernie  Madoff, and that\u2019s because he ripped off mostly rich folks.  However, it is possible that the biggest offender of all may be facing charges.<\/font><\/p>\n

\n

\"7Goldman\"When U.S. Senator Carl Levin declared that Goldman Sachs Group Inc. (GS) \u201cclearly misled their clients and misled the Congress,\u201d<\/strong> few analysts predicted his allegations would still be reverberating two months later. <\/p>\n

Instead the firm\u2019s shares have fallen 16 percent in New York trading since April 13, when Levin\u2019s investigative panel released an exhaustive report on the roots of the 2008 economic meltdown. The Justice Department and Securities and Exchange Commission are examining the findings. Last week the Manhattan District Attorney joined in with a subpoena to Goldman Sachs<\/strong>. <\/p>\n

The bank stuck to muted criticism of the Levin report until yesterday, when people briefed on Goldman Sachs\u2019s strategy said the firm was considering preparing its own document to refute the Senate report\u2019s contention it held a \u201cbig short\u201d against the housing market while marketing mortgage-backed securities\u2026 [emphasis added<\/em>]<\/p>\n<\/blockquote>\n

Inserted from <Bloomberg<\/a>><\/p>\n

But that is exactly what they did.   At the same time they were selling toxic mortgage-based securities short, so they would profit when the securities lost value, they were hawking them go the public, lying about what a great investment they were.  I have high hope that they will face justice, tempered with the knowledge that Timmy the Tool is bending every ear he can to protect his good friends.<\/font><\/p>\n","protected":false},"excerpt":{"rendered":"

I feel angry that, given all the suffering they have caused, the worst offenders among Wall Street\u2019s criminal banksters have gotten away with their crimes.  The exception is Bernie  Madoff, and that\u2019s because he ripped off mostly rich folks.  However, it is possible that the biggest offender of all may be facing charges. When U.S. […]<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-5035","post","type-post","status-publish","format-standard","hentry","category-politics","category-5-id","post-seq-1","post-parity-odd","meta-position-corners","fix"],"_links":{"self":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/5035","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/comments?post=5035"}],"version-history":[{"count":0,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/5035\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/media?parent=5035"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/categories?post=5035"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/tags?post=5035"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}