JANE BURGERMEISTER REPORT: ‘Evidence of Goldman Sachs and Deutsche Bank subprime fraud to be referred to US justice officials’

16 April  2011

Evidence of Goldman Sachs and Deutsche Bank subprime fraud to be referred to US justice officials

Jane Burgermeister | April 15, 2011 at 5:32 pm | Categories: Uncategorized | URL: http://wp.me/puNtl-1bF

Friday 15 April 2011, The Telegraph

US Senate panel urges Goldman ‘mis-selling’ investigation

A US Senate Subcommittee has called on authorities to examine whether Goldman Sachs mis-sold mortgage related securities and misled Congress, as it released the findings of a two-year investigation into the financial crisis.

Carl Levin, the Democratic chairman, wants the Department of Justice and the Securities and Exchange Commission to see if Goldman broke the law when selling collateralised debt obligations (CDOs) to clients without disclosing that the bank believed they would fall in value.

“In my judgement, Goldman clearly misled their clients and they misled Congress,” Mr Levin said at a press conference in Washington late yesterday.

Read more at: http://www.telegraph.co.uk/finance/financialcrisis/8449822/US-Senate-panel-urges-Goldman-mis-selling-investigation.html