Yesterday Was "Relieve Goldman Sachs of Their Legal Exposure" Day
By David Dayen - Firedoglake
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So Goldman got off for two separate things here, detailed in this contemporaneous report on the SPSCI report: one, the securities fraud elements of lying to their investors and profiting off their lack of disclosure; and two, lying to Congress about it. The Justice Department didn’t see a problem with it. So any upstart investment bank looking to make it in the world, you have your marching orders. You have to lie to your investors, take the other side of the bet on the deals you offer them, and when questioned about it, obfuscate and obstruct the investigatory body. That’s the way to the top.
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Levin: Decision not to prosecute Goldman Sachs shows weakness
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