The Associated Press reports that, "Federal prosecutors in New York have been examining transactions by Goldman Sachs Group Inc., accused of fraud by US securities regulators, to determine whether to pursue a criminal case,"
So what's new from Wall Street? The Goldman Sachs emails? So the rogues cheered as the housing market's decline -- found joy in the misery of others? And the rogues played a part in creating that misery? Is that news?
Today's Washington Post reports that, "As the U.S. housing market began its epic fall nearly three years ago, top executives at Wall Street powerhouse Goldman Sachs cheered the large financial gains the firm stood to make on certain bets it had placed. ..for example, Goldman executive Donald Mullen predicted a windfall because credit-rating companies had downgraded mortgage-related investments, which caused losses for investors."
My response was: Investment bank? Fraud? Is that news? Then I thought: Well maybe the news is, that the SEC are the ones doing the accusing? I read the item, "In a civil suit filed Friday, the SEC accused the investment bank of securities fraud over a deal in which Goldman profited from bets against products it sold to customers."
Back up. A civil suit?