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Sunday, April 18, 2010

Goldman Charged By SEC With FRAUD

 VISIT daily for updates to this story.
Wall Street Journal's MarketWatch says GoldmanSachs666 is one of ten Wall Street blogs You Must Bookmark Now.

The news broke late Friday afternoon. The SEC charged Goldman Sachs with Fraud. A civil not criminal case that may never see the inside of a court room but the opening of a very large door.

This is major news and the beginning of some justice that this blog and I have been asking for for three years now.

Yes, I have been talking and attempting to expose the crimes of Wall Street and major Banks like WAMU, BofA, Wells Fargo, Wachovia, Countrywide. Yes, I have said that Merill Lynch, Bear Stearns and Lehman were the primary causes of the initial so called mortgage meltdown and the ensuing world wide economic collapse. Yes, I have implicated Goldman Sachs and even called them the ringleaders of this cartel. But, with all the verifications of wrong doing over the past three years, no one in our government - Federal or State - nor our lawmakers and regulators have seen fit to take any positive action.

Indeed, many have gone to jail for fraud, specifically mortgage fraud but those are what I refer to as the "street pushers". The major suppliers - the Drug Lords- go unnamed and unpunished.

This action by the SEC - a coming out if you will - should open the flood gates of more investigations and charges criminally for all of those implicated in what I also call The Greatest Fraud In The History Of The World.

This is an important first step towards justice even though this action in itself will prove to be of little consequence. Yes, there will be a fine settled out of court as the likelihood of a trial is minimal in these cases.

But it is a first step. The UK and Germany are already calling for investigations in their countries of Goldman Sachs and I would bet those investigations will open a Pandora's Box in terms of the involvement of banks such as Deutsche Bank, USP and others.

This story will go on for many months if not years but it is a beginning to the justice I have been calling for and possibly a vindication - albeit too late - for the mortgage broker industry who took all the blame directly from all of those that were the cause - Wall Street Bankers.

FOR MORE INFORMATION ON THIS BREAKING STORY, PLEASE BOOKMARK MY SISTER SITE: where you will find all the news links, commentary, videos and other stories on this BREAKING NEWS.
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