Uncategorized — June 3, 2011 at 2:31 pm

Ruh-Roh, Raggy. Goldman Sachs gets hit with a subpoena.


I’m reposting this blog after a major reading comprehension failure on my part this morning. I thought the investigation was being conducted by federal prosecutors (i.e., the Obama administration.) Turns out, if I had read my own cut-and-paste blockquote, I would have realized it is a New York prosecutor. With all I’ve got going on these days (recruiting volunteers for the Snyder recall, recruiting volunteers for the Netroots for the Troops event at the Netroots Nation conference, getting my garden in, managing a community garden at work, etc. etc., I clearly am moving too fast. Sorry about that ;0 )

Ruh-roh, Raggy. Looks like some rich mofo bankers are about to experience some serious intestinal discomfort, at least some from Goldman Sachs. They’ve been subpoenaed by a prosecutor in New York:

A prosecutor in New York has subpoenaed Wall Street powerhouse Goldman Sachs for information related to the financial crisis, a person familiar with the development said Thursday.

The broad request from the Manhattan district attorney, issued last month, stems from an April report by Senate investigators that accused Goldman Sachs of abusive behavior, according to the source.

The report said Goldman Sachs contributed to the financial crisis, partly by designing mortgage-related investments that enabled the firm to profit while its clients lost money.

If they start throwing some of these greedy, amoral, remorseless and useless sons of bitches in jail for their crimes against society, maybe — just maybe — there’s hope that we might some day find ourselves not kicked around by a bunch of asshole bankers in this country. Here’s hoping this prosecutor gets all the resources he needs and that he is successful in his efforts.

The good news is they may actually be getting some help from the Obama administration:

The formal request for information is the latest sign that U.S. authorities at various levels are stepping up their scrutiny of Wall Street firms. Federal prosecutors are combing through the findings of the Senate report and may issue their own subpoenas. Meanwhile, New York’s Attorney-General is investigating the way several major banks, including Goldman, bundled mortgages into bonds.

There. That’s better ;0 )