Home

Senator Carl Levin Calls Goldman Sachs a “Financial Snake Pit”
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

The finger of blame for the 2008 market collapse is pointing squarely in Goldman Sachs direction.

Banks earned billions by creating and selling financial products that essentially backfired in tandem with the housing market, which caused the worst economic crisis in the U.S. since the Great Depression. The recent passage of the Dodd-Frank law is in direct response to this crisis.

Yesterday, Senator Carl Levin (D-MI) released the findings of a two-year probe, and was quoted as saying 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,” according to the April 13th washingtonpost.com article, “Goldman Sachs misled Congress after duping clients, Senate panel chairman says”.

  
What
Where


Levin also said he wants federal prosecutors to determine whether perjury charges should be brought against Goldman Sachs Chief Executive Officer Lloyd Blankfein and other employees who testified in Congress last year.

Levin was also quoted as saying that Goldman Sachs is “a financial snake pit rife with greed, conflicts of interest, and wrongdoing,” according to an April 14th article at vanityfair.com.

Goldman Sachs spokesman Lucas van Praag was quoted as saying: “The testimony we gave was truthful and accurate and this is confirmed by the subcommittee’s own report.”

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!






 

RELEVANT JOBS

Attorney

USA-NY-Riverhead

Twomey, Latham, Shea, Kelley, Dubin & Quartararo, LLP is seeking a full-time Transactional Attorney ...

Apply now

Regulatory Specialist

USA-NY-New York City

Campari Group is a major player in the global spirits industry, with a portfolio of over 50 premium ...

Apply now

Associate Attorney

USA-FL-Coral Gables

Marrero & Wydler is a boutique civil litigation firm located in Coral Gables.  We seek a depend...

Apply now

Corporate & Securities Attorney - Remote Work Option

USA-MN-Minneapolis

Maslon LLP is seeking attorney candidates with at least two years of experience to work in our Corpo...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Business and Transactional Associate Attorney

USA-CT-Middletown

Middletown office of a BCG Attorney Search Top Ranked Law Firm seeks business and transactional asso...

Apply Now

Business and Transactional Associate Attorney

USA-CT-Hartford

Hartford office of a BCG Attorney Search Top Ranked Law Firm seeks business and transactional associ...

Apply Now

Business and Transactional Associate Attorney

USA-CT-East Haven

East Haven office of a BCG Attorney Search Top Ranked Law Firm seeks business and transactional asso...

Apply Now

Most Popular

SEARCH IN ARCHIVE

To Top