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Obama Opens Criminal Probe Of Goldman

From a gleeful Associated Press:

140,000 petition signatures asking Attorney General Eric Holder for a criminal investigation of Goldman Sachs are displayed during a news conference at the Justice Department in Washington, Wednesday, April 28, 2010.

Feds open criminal probe of Goldman

By Marcy Gordon, AP Business Writer

April 30, 2010

WASHINGTON – Stepping up the pressure on Goldman Sachs two days after its executives were grilled and publicly rebuked by lawmakers, the Justice Department has opened a criminal investigation of the Wall Street powerhouse over mortgage securities deals it arranged.

At least the Associated Press admits that this is a matter of “stepping up the pressure” – albeit, inadvertently. Perhaps Mr. Obama will send in SWAT teams next.

The criminal inquiry follows civil fraud charges filed by the government against Goldman two weeks ago and as Congress pushes toward enacting sweeping legislation aimed at preventing another near-meltdown of the financial system.

The investigation by the U.S. attorney’s office in Manhattan stems from a criminal referral by the Securities and Exchange Commission, a knowledgeable person said Thursday. The person spoke on condition of anonymity because the inquiry is in a preliminary phase…

Word of the Justice Department action came a day after a group of 62 House lawmakers, including Judiciary Committee Chairman John Conyers, D-Mich., asked Justice to conduct a criminal probe of Goldman.

Well if the legal scholar and moral paragon, John Conyers, says there should be a criminal investigation, who can doubt it?

"On the face of the SEC filing, criminal fraud on a historic scale seems to have occurred in this instance," the lawmakers, mostly Democrats, said in a letter to Attorney General Eric Holder

So now it’s “criminal fraud on and historic scale”? Man alive these Democrats are preposterous — and obvious.

Still, wouldn’t “criminal fraud on and historic scale” more accurately describe the Congressional Democrats’ role in the housing debacle?

Could we have a criminal probe of Fannie Mae and Freddie Mac next? And will someone probe Mr. Barney Frank?

On second thought, we don’t want to know the answer to that last question.

This article was posted by Steve on Friday, April 30th, 2010. Comments are currently closed.

11 Responses to “Obama Opens Criminal Probe Of Goldman”

  1. GetBackJack says:

    Regardless of whatever evil Obama has planned …. Goldman Sachs is the firm that cooked up the idea of carbon credits to create a market commodity that did not previously exist. Al Gore is their front man, and their European correspondents created a trial run market to test.

    If you have any doubt Goldman Sachs is bad for America and bad for your American liberty, you’re not paying attention.

    BTW – my analysis is that Obama knows GS is going to come under scrutiny, so he’s ordered they be be investigated in the one area they can defend and make fools of those investigating, effectively killing any serious look into their evil machinations.

  2. GL0120 says:

    This is nothing but a show trial; Goldman Sachs’ reach extends all the way into the White House.

  3. Astravogel says:

    It is just amazing what can be done with a one-party media.

    Democratica Delinda Est!

  4. proreason says:

    Shouldn’t Goldman Sachs be given a cabinet position in Obamy’s administration after they pay their insignificant symbolic fine following the month’s long inquistion and show trial (which won’t end until the election is held in November, after which it will whither away).

    Other than Soros, who is more responsible for his election than them? And I’m not talking about the $1,000,000 (that we know about) that they contributed to his campaign.

    They could have taken their billions in profit for teaming up with Fannie and Freddie any time between late 2007 and 2012…but they chose to maximize their gain with penultimate publicity in September and October of 2008….just in time to get their tool elected. And just in time to destroy the life savings of millions of seniors.

    Or perhaps you think that was all just a mere coincidence, a random event. Kind of like Goldman’s profiteering in each of the last 15 financial bubbles in US history were random events.

    Just like innocent leaves blowing in the wind.

  5. bill says:

    It’s weird that why they try their best to leave out the causes of the meltdown, Fannie and Freddie, and conduct their show trial … Where did the “full faith and credit” stamp come from so Wallstreet can play mortgage hot potato. And why no redlining discussions?

    The Gulf of Mexico is without someone to clean up the mess. A leader would be nice about now — Where is Gen Honoree when you need him, because this Obama regime is looking more and more like a troupe of clowns with each passing day.

    Let’s see, what does the EPA administrator, the Climate Change Policy clowns, the Homeland Security nuts, SWAT teams know about oil spill cleanup. It looks like a circling of the clown wagons. Sure looking like talking is far easier than doing. And they report back in 30 days.

    If there was ever any doubt the incompetence of Obama is in full display.

  6. Rusty Shackleford says:

    “On the face of the SEC filing, criminal fraud on a historic scale seems to have occurred in this instance,” the lawmakers, mostly Democrats, said in a letter to Attorney General Eric Holder…

    Yes, it does seem rather self-critiquing, doesn’t it?

    I have no questions.

  7. Mithrandir says:

    Almost everyone on the planet knows that one of the MAIN CONTRIBUTORS to the housing bubble was giving mortgages to people who had no business getting a mortgage in the first place.

    And who is to blame for that? Barney Frank, Bill Clinton……DEMOCRATS.

    What a charade this is. But I remember the line from the movie “National Treasure” “Somebody’s got to go to jail.”
    And that is why I don’t trust lawyers or police, or government, because somebody’s (anybody) got to go to jail to clear off the list of open cases.

  8. canary says:

    Will Secretary of Treasury Tim Geithner get to cut a deal and get immunity?

  9. bill says:

    Obviously last week’s show trial did little to further Obama finance system takeover —

    But … Last time I checked, blowing up a deep water rig 50 miles off Louisiana might have a dire effect on world oil prices and especially the USA. And who had motive, surely not the countries who stand to make global warming billions in wealth transfer payments, the eco-loons who want to end fossil fuel use any way they can … Tell, me what was Bill Ayers up to again ? Wasn’t it changing pubvlic opinon, one bomb at a time.

    So where is the wide ranging CRIMINAL investigation of al Qaeda, terrorists in general, regarding the potential blowing up the offshore platform. we knew they were easy soft targets.

    Who thought it possible al Qaeda would attack and destroy the WTC, before 9/11?

    There are far more useful things for the Congress to investigate, regarding the financial meltdown, like lets start at the beginning with the Congressional pursuit of the mythical redlining unicorn. GS is way down the food chain on this one.

  10. MinnesotaRush says:

    Maybe at there next faux gathering they could “roast” some “Bawney Fwanks”?

  11. crate says:

    Don’t hold your breath for this!

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