Friday, May 20, 2011
Goldmine Sachs expects document demands from DOJ
Because that is what would normally happen when the DoJ is presented with firm evidence of criminal wrong doing.
Goldman Sachs executives expect federal prosecutors to demand to see internal documents, as the government ramps up its investigation into the way the firm handled mortgage products, the Wall Street Journal reports.A Department of Justice under Eric Holder that is probably still riddled with leftover Bushies is not expected to come to any decision, now or in the future.
The subpoenas would come in response to the lengthy report on the financial crisis released by the Senate Permanent Subcommittee on Investigations last month, the WSJ notes, citing sources. The report, which was referred to the Justice Department, alleges that Goldman executives deceived clients in order to profit at their expense, and then misled Congress when asked to explain their behavior...
The investigation into Goldman comes as the federal government is working with all 50 state attorneys general to reach a settlement with the nation's biggest banks over accusations of illegal foreclosures and fraudulent mortgage practices. This week, the inspector general at the Department of Housing and Urban Development concluded that the nation's five largest mortgage companies defrauded taxpayers in their handling of foreclosures, The Huffington Post reported. It's now up to the Department of Justice to decide whether to file charges.
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