Goldman Sachs Misled Congress After Duping Clients: Levin

[marmar]

(Bloomberg) Goldman Sachs Group Inc. (GS) 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. ..............(more)

The complete piece is at: http://www.bloomberg.com/news/2011-04-14/goldman-sachs-misled-congress-after-duping-clients-over-cdos-levin-says.html

[arrestblankfein]

1. THEY LIED UNDER OATH

They must be held accountable!! They have fucked over millions of people's lives!

[franzia99]

2. I hope they're actually going to do something to Goldman Sachs instead of just holding hearings.

[Amonester]

3. GSG, eh? Or is it just "The Bo$$"?

I Bet Many so-called "Representatives" Are Actively Looking For "The Rug" This Whole machination Will Be Swept Under...