Goldman Sachs May Face U.K., German Inquiries After Fraud Suit

[Cali_Democrat]

http://www.bloomberg.com/apps/news?pid=20601087&sid=aDp6aZ3vXDOg&pos=1

By Michael Patterson and Tony Czuczka

April 19 (Bloomberg) -- Goldman Sachs Group Inc. faces a regulatory probe in Britain and scrutiny from the German government after the U.S. Securities and Exchange Commission sued the firm for fraud tied to collateralized debt obligations.

Prime Minister Gordon Brown called yesterday for the Financial Services Authority to start an inquiry, saying he was “shocked” at the “moral bankruptcy” indicated in the suit. Germany’s financial regulator, Bafin, asked the SEC for details on the suit, a spokesman for Chancellor Angela Merkel said.

Politicians that were forced to bail out their banks during the financial crisis are turning on Goldman, which critics say helped caused the turmoil and profited from it. The European Union is also probing Goldman’s role in arranging swaps for Greece that may have masked the country’s budget deficit.

“We will see politicians throughout the world piling on Goldman Sachs,” said Scott Moeller, a former investment banker now teaching at Cass Business School in London. “Now they have vulnerability. Everyone and anyone, especially politicians, are going to be trying to make hay with this one.”

Read more at link..http://www.bloomberg.com/apps/news?pid=20601087&sid=aDp6aZ3vXDOg&pos=1

[aquart]

1. LOVELY. Make lots of hay.

Feed it to the starving, expensive, abandoned horses left by the former rich people as they walked away from just one more obligation to behave decently.

[flyarm]

2. Most excellent as long as it is not a cover up or scapegoating a 31 yr old ..as is being done here!

[kentuck]

3. Does this mean ??

that we will have to bail them out again, by paying off these foreign governments? Maybe we can do it in secret?