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14 Apr 2011 10:26

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Politics: Carl Levin rips “financial snake pit” Goldman Sachs into shreds

  • Our investigation found a financial snake pit rife with greed, conflicts of interest, and wrongdoing.
  • Sen. Carl Levin • Offering an assessment of a report that his subcommittee, which is searching for the causes of the financial crisis, released about the crisis. The report singles out Goldman Sachs, calling it a “case study” for the conflicts of interest that abound around Wall Street — specifically for betting against the very subprime mortgage packages it was selling. Levin also wants to bring perjury charges against Goldman’s CEO, Lloyd Blankfein, for his testimony in Congress last year. In other words, someone has watched “Inside Job.” The stock market is down on the news of the 600-page report. source
Posted by Ernie Smith • 0 Comments • Permalink

27 Apr 2010 20:20

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Biz: Goldman Sachs execs had a lot of sweat furrowing their brows today

  • They’re buying something from you, and you are betting against it. And you want people to trust you? I wouldn’t trust you.
  • Sen. Carl Levin • Talking in very harsh terms to Goldman Sachs CEO Lloyd Blankfein – a hearing put together in the wake of the SEC lawsuit against the company. He and other Goldman staffers looked really uncomfortable with being there, and Levin didn’t help – especially due to all the profanity he was using in criticizing them. He said “)*#(%@” eleven freaking times in a ten-minute period. source
Posted by Ernie Smith • 0 Comments • Permalink

24 Apr 2010 12:00

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Biz: Goldman Sachs e-mails: Yeah, we bet against mortgages

  • Of course we didn’t dodge the mortgage mess. We lost money, then made more than we lost because of shorts.
  • Goldman Sachs CEO Lloyd C. Blankfein • In an e-mail regarding its role in the mortgage crisis. The e-mail, one of many released by the Senate Permanent Subcommittee on Investigations, suggests that the company was betting against the failing housing market and profiting significantly from it – one of the main claims of the SEC’s lawsuit against the investment firm. This could be bad news for Goldman Sachs. source
Posted by Ernie Smith • 0 Comments • Permalink
 
 
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