HedgeFundLIVE.com — Well here we go again as Michigan Senator Carl Levin stated today that a subcommittee has found that Goldman Sachs misled investors on more than one occasion in regards to investments similar to the packaged mortgages they created for John Paulson & Co. Senator Levin is asserting that Goldman Sachs took the other side of these risky investments and then 6 top level executives of the behemoth investment bank lied about it to Congress, most importantly Lloyd Blankfein among them.
This story is every bit as big as one might think. Wall Street already has a serious black eye as they borrowed hundreds of billions of taxpayer money to get bailed out, then paid out large bonuses as many Americans struggle with their own finances. Couple that with all of the insider trading cases being tried and the white shoe world of big finance has gotten a lot of scuff marks.
Perception is often worse than reality and we have a Democrat senator who seems hell bent on making an example of Goldman Sachs.
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