Hillary's pal Lloyd: Goldman Sachs Misled Congress, Duped Clients, Levin Says

[think]

Goldman Sachs Misled Congress, Duped Clients, Levin Says

By Robert Schmidt, Clea Benson and Phil Mattingly - April 14th 2011

Goldman Sachs Group Inc. misled clients and Congress about the firm’s bets on securities tied to the housing market, the chairman of the U.S. Senate panel that investigated the causes of the financial crisis said.

Senator Carl Levin, releasing the findings of a two-year inquiry yesterday, said he wants the Justice Department and the Securities and Exchange Commission to examine whether Goldman Sachs violated the law by misleading clients who bought the complex securities known as collateralized debt obligations without knowing the firm would benefit if they fell in value.
The Michigan Democrat also said federal prosecutors should review whether to bring perjury charges against Goldman Sachs Chief Executive Officer Lloyd Blankfein and other current and former employees who testified in Congress last year. Levin said they denied under oath that Goldman Sachs took a financial position against the mortgage market solely for its own profit, statements the senator said were untrue.

“In my judgment, Goldman clearly misled their clients and they misled the Congress,” Levin said at a press briefing yesterday where he and Senator Tom Coburn, an Oklahoma Republican, discussed the 640-page report from the Permanent Subcommittee on Investigations.

Read more:
http://www.bloomberg.com/news/articles/2011-04-14/goldman-sachs-misled-congress-after-duping-clients-over-cdos-levin-says

[UglyGreed]

1. Well there was money to be made

[think]

2. Lloyd's a billionaire now. Corruption pays well....

[UglyGreed]

5. Hillary ain't doing too bad

herself.....

[rhett o rick]

3. Clinton represents the same ole corrupt culture that we've had for 30 years. It's

time to throw out the Big Money, Citizens United influence of our government. She won't take their money and then regulate them.

[PoliticAverse]

4. Ha! Lloyd Blankfein laughs at your insignificant attempts to stop him from "doing God's work"...

http://www.businessinsider.com/lloyd-blankfein-says-he-is-doing-gods-work-2009-11?op=1

[think]

6. Indeed he laughs....

[Impedimentus]

7. She probably just accepted another invitation to give a speech.

Check's in the mail.

FEEL THE BERN - 2016

[tk2kewl]

8. how's the search for those transcripts coming?

[floriduck]

9. So Levin endorsed her?

Anyone find that strange since she is tied at the hip to Goldman Sachs? Today's Dem establishment continues to disintegrate .

[angstlessk]

10. I thought this was the Bernie Group

Since there were no dissenting voices?

[think]

12. Kind of hard to refute...

[Skwmom]

11. It must be election time.

[Octafish]

13. What would Goldman think of that, think?

''What would Goldman think?''

Larry Summers: Goldman Sacked

By Greg Palast
Reader Supported News, September 16, 2013

Joseph Stiglitz couldn't believe his ears. Here they were in the White House, with President Bill Clinton asking the chiefs of the US Treasury for guidance on the life and death of America's economy, when the Deputy Secretary of the Treasury Larry Summers turns to his boss, Secretary Robert Rubin, and says, "What would Goldman think of that?"

Huh?

Then, at another meeting, Summers said it again: What would Goldman think?

A shocked Stiglitz, then Chairman of the President's Council of Economic Advisors, told me he'd turned to Summers, and asked if Summers thought it appropriate to decide US economic policy based on "what Goldman thought." As opposed to say, the facts, or say, the needs of the American public, you know, all that stuff that we heard in Cabinet meetings on The West Wing.

[font color="green"]Summers looked at Stiglitz like Stiglitz was some kind of naive fool who'd read too many civics books. [/font color]

CONTINUED...

http://www.gregpalast.com/larry-summers-goldman-sacked/

[think]

14. Hmm... Hillary's investment value has greatly diminished since Bernie came on the scene?

But honestly I haven't a clue...

[Octafish]

15. Thanks for that.

Every now and then I shall return to it in order to recharge the batteries. The amperage gets drained pretty darn fast by the know-nothings.

[Octafish]

16. You raise a most important question: Where are the new leaders?

The ones who believe in Democracy? Leaders who are proud to be Liberals? Leaders who believe in Progress for ALL?

Seems the bench after Hillary and Bernie's 2016 campaign, apart from Elizabeth Warren, is pretty empty.

For some reason, Liberal Democrats don't get far in the Democratic Party leadership any more. They haven't been part of the puke side since Rocky was a draft dodger at the all-girls school in Switzerland.

No, you gotta be a rich SOB to be taken seriously these days. And the more money, the more seriously you're gonna be taken.

[think]

17. There are some running like Tim Canova in Florida that give me hope. Time will tell if Bernie's

campaign will help inspire a new generation of politicians and politically active individuals.

I cling to that hope.

Perhaps also it will help the wealthy elite consider a promising and vibrant world just as important as the money they are so fond of. (I'm a bleeding heart optimist I know.)

And hopefully there is time to change. The environment doesn't understand money or politics. It just changes as the variables do. From what I've read we're already past the tipping point according to some or very close according to other scientists.

Sorry to ramble....