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Goldman Sachs Subpoenaed in Fraud Probe

Senate seeks evidence that banks foresaw mortgage meltdown

By Jason Farago,  Newser Staff

Posted Jul 30, 2009 6:38 AM CDT

(Newser) – A Senate committee has subpoenaed Goldman Sachs, Deutsche Bank, and other financial institutions as part of an investigation into mortgage-market fraud, sources tell the Wall Street Journal. The probe appears to focus on emails and other internal communications that may show bankers' doubts about the safety of mortgage-backed securities, which collapsed in value last fall and helped trigger the financial crisis.

The subpoena by the Senate Permanent Subcommittee on Investigations, headed by Michigan Democrat Carl Levin, is only the latest broadside against Goldman Sachs on Capitol Hill. Earlier this week 10 members of Congress wrote to Ben Bernanke to ask whether Goldman needs more regulation and less government aid. And health care reformers are debating what they call a "Goldman Sachs tax" after its execs' cushy insurance plans.
Goldman Sachs headquarters in New York. Goldman has been subpoenaed by a Senate subcommittee in connection with mortgage-backed securities fraud.
Goldman Sachs headquarters in New York. Goldman has been subpoenaed by a Senate subcommittee in connection with mortgage-backed securities fraud.   (AP Photo/ Louis Lanzano)
Josef Ackermann, CEO of Deutsche Bank. Deutsche has also been subpoenaed.
Josef Ackermann, CEO of Deutsche Bank. Deutsche has also been subpoenaed.   (AP Photo/Michael Probst, file)
Sen. Carl Levin, D-Mich., is leading the investigation into the collapsed mortgage market.
Sen. Carl Levin, D-Mich., is leading the investigation into the collapsed mortgage market.   (AP Photo/Haraz N. Ghanbari, File)
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COMMENTS
Showing 3 of 5 comments
NewzMedia
Jun 2, 2011 11:06 PM CDT
Goldman Sachs subpoenaed for financial crisis role:http://www.tekbuz.com/goldman-sachs-subpoenaed-for-financial-crisis-role/89200
stockshock
Jun 7, 2010 10:10 PM CDT
To News Media worldwide, I want to write this letter to clearly put together the story about what took place on Wall Street since the elimination of the uptick rule on July 6th, 2007 up until the current crisis in the United States as of today June 2010, just weeks away from financial reform to be signed into Law here in the United States. May 2007 Goldman Sachs hired math wiz computer programmer Segei Aleynikov July 2007 Up Tick rule abolished and Naked Short Selling Scandal begins as Housing scandal ends July 2007 Massive downgrades in credit ratings as the Housing scandal slows and Goldman Sachs moves into Stock Scandal FY 2008 U.S in a full blown recession due to financial crisis and naked short selling and other scandals tied to Goldman Sachs and others June 2008 Secret meeting in Moscow between Goldman Sachs board members and Hank Paulson Sept 2008 Financial meltdown and Last days of Lehman Brothers. Hank calls Loydd 24 times within a few days July 3rd 2009 FBI arrest Segei Aleynikov as he had sent over 1,000 secret codes and files to German Web Site Feb 24th, 2010 Up tick rule voted back in but with some circuit breakers April 15th 2010 Goldman Sachs tied to Galleon trading investigation April 16th, 2010 Goldman Sachs Civil Fraud Charges brought by Government/SEC May 4th, 2010 Goldman Sachs guilty of Naked Short Selling and pays fine May 6th, 2010 Stock market crash down 700 ponts is minutes to almost down 1,000 points on day. still looking for answers in an ongoing investigation. May 18th, 2010 Germany bans naked short selling. What does the German secret service know about the Goldman Sachs secret files sent to German web site? Now today, Newsweek comes out with a story June 7th, 2010 on page 42, where they state the arrest ofthe Goldman Sachs computer programmer. Newsweek June 7th, 2010 page 42. http://bit.ly/cbM89b Goldman Sachs secret codes/ arrest These facts are all connected, yet the News media has not put the story together. see these two video's on youtube that just came out, that clearly explains the connections and it all leads back to Goldman Sachs. part 1 Utube http://www.youtube.com/watch?v=HGAXCmg-_Vc see part 2 on YouTube http://www.youtube.com/watch?v=tNiTANt8m4Y&feature=channel Upon watching these two youtube video listed above, you will begin to see the connection to Goldman Sachs. It has taken the action of Germany and other countries upon their investigationm to force the U.S news media to report parts of these facts, yet they still have nottold ENTIRE story and the connection. Go to these sites listed below to also get the true facts, that connect Goldman Sachs to the financial problems of the world. www.SiriusNews.com surf the site, blog, stock shock, twitter www.Twitter.com/StockShockmovie see the links to videos and stories about Goldman Sachs and Wall Street It is about time the News Media connect all the dots and tell the entire story and truth about Goldman Sachs. Germany has the 1000 secret codes and files from Goldman Sachs and how they have been stealing the money off investors worldwide. The FBI has the secret codes also. see the youtube video above, where it shows the FBI document that these files were sent to a German Web Site. Richard Keane www.SiriusNews.comblog
TerrifiedCitizen
Jul 30, 2009 8:13 PM CDT
Everyone would want to invest their money with people who COULDN'T see whats coming raise their hands.

 
Congress • Ben Bernanke • Congressional investigations • Goldman Sachs • Deutsche Bank • subpoena • Carl Levin • Senate committees

 
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