Goldman Sachs and Executive Charged With Fraud/ Could this be reason for S&P downgrade

[sasha031]

Goldman Sachs and Executive Charged With Fraud

http://www.truth-out.org/goldman-sachs-and-executive-charged-fraud/1302937200


Moody’s S&P Caved In 2 Ratings Pressure From Goldman, UBS Over Mortgages - Bloomberg http://t.co/8xozi5r via @BloombergNow

I am wondering if the S&P downgrade is a form of retribution?

[Snoutport]

1. I wonder what this means? Scape goat? are they really gonna go after Goldman Sachs?

Someone with more knowledge fill us in!

[sasha031]

3. they already have

Washington - The Securities and Exchange Commission Friday charged Goldman Sachs & Co. and one of its executives with fraud in a risky offshore deal backed by subprime mortgages that cost investors more than $1 billion.

The SEC also contends that Goldman allowed a client, Wall Street hedge fund Paulson & Co., to help select the securities to be sold. Paulson in turn bought insurance against the deal and when the securities tanked, losing almost all their value, Paulson made a $1 billion profit.

The civil fraud charges were the first to be filed against Goldman, the prestigious Wall Street investment-banking titan that's at the center of multiple inquiries into the causes of the global financial meltdown.


what I am questioning is there a connection between this story and the S&P downgrade.

[indepat]

2. Is S&P champing at the bit for the Feds to take a close look at their

actions in 2007 when allegedly a few Wall Street firms convinced them to change their methodology in rating CMOs? :patriot:

[sasha031]

7. I commented on a you tube video about Levin's investigation into S&P and Moody's

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=385x574707

Bloomburg you tube deleted it :tinfoilhat:

starting to wonder if I should get a blackboard :crazy:

[indepat]

8. I like his far left malarky: the far left has no voice and has had no meaningful voice for seeming

eons. :patriot:

[WillyT]

4. K & R !!!

:kick:

:hi:

[kentuck]

5. Hadn't thought of that...

but very possible. Especially if more are running scared.

[malaise]

6. This is huge

Rec

[proud patriot]

9. kick rec and shared