Carl Levin To Refer Goldman To Justice Department, SEC For Misleading Investors And Committing Perjury

Tyler Durden's picture

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Bill D. Cat's picture

The cynic in me sees this as campaign donations , or else .

chumbawamba's picture

Yep, that sums it up.  A "referral" is just step A.  It doesn't matter if you never make it to step Z (or even step B as is the matter these days).

Another ho-hum news item.  Yawn.

I am Chumbawamba.

trav7777's picture

SECers have to see GS or other WS firms as their next career step.  Are they really going to shitcan their career ladder?

French Frog's picture

"Don't hold your breath" sums it up, unfortunately

AN0NYM0US's picture

yawn.... who ya goin to voter for on Idol


Thomas's picture

And what about Gary Cohn? His was the biggest lie of them all.

smlbizman's picture

i can't believe we are wasting time with these bankers, why are we not finding out more about roger clemens...maybe an illegal dice game with a bunch of second string nfl'rs....something, something fuckin important...

NOTW777's picture

how can Carl Levin accuse anyone of of anything

Hedge Jobs's picture

i think Levinstein needs to re read his Talmud before referring Goldman to the SEC.

"Robbery of a Gentile by a Jew is not forbidden outright, but only under certain circumstances such as "when the Gentiles are not under our rule," but is permitted "when they are under our rule." "

Dont worry though, Mary Shapiro knows her Talmud inside out and will make sure this case, like all other others, gets thrown out in accordance with the sciptures.

taxpayer102's picture

Exactly, after Levin, Joe Lieberman and McCain (Armed Services Committee) approved U.S. forces attacking Libya, then congratulated Adm Mullen and Sec Gates for it, now Levin wants to be the good cop...

Weisbrot's picture

side show with bogus or week prosecution followed up with a pardon after nominal slap on the wrist time & fine are served & paid. its all for the cameras, after all its officially election season.

Carpe Diem's picture

Oh Yes! They need the big bucks down at the hive.

This tune just wnet viral on the net.

It's the new matra for all of us tired of the political charade.

Perseid.Rocks's picture

Give them the comfy chair... yes, nothing less than the comfy chair will satisfy the overlords in providing justice for the masses.

aint no fortunate son's picture

This means Holder will have to stop taking his daily duck boat tours? It'll never happen, Obama will see to that.

Prof Gulliver's picture

It's all like pro wrestling. The heel and the babyface put on a show for the marks. Afterward, they go backstage, divvy up the proceeds, laugh and go out together and have a beer.

Hephasteus's picture

I thought that was only Barry "Let me get you drunk and then let's negoitate" Name change obama.

chumbawamba's picture

Good.  People are catching on.

Better late than never.

I am Chumbawamba.

Hephasteus's picture

Can't the EU just make them pay a huge penalty fine that doesn't involve any money and is never paid and doesn't alter or affect the course of history or the financial balance sheets of any of the companies involved. You know the old pulled wrist slap followed by fake crocodile tears crying. LOL

Carpe Diem's picture

And then shuck and jive.

This great viral tune is the new matra for all of us tired of the political charade.

Raymond K Hassel's picture

And it will get 1/1000th of the DOJs time as compared to Barry Bond's case.  Lesson learned - cheat the market, cheat in the NFL, cheat in the NBA, cheat in the NHL - but by god - don't you ever dare fucking dream of cheating in the MLB - it's the proxy distraction after all.

Raymond K Hassel's picture

As a caveat, if I were a contestant on Dancing with the Stars, or on Jersey Shore, I'd be wathching my back - we need fresh celebrity fall guys and we need them asap.

plocequ1's picture

Who cares? Who gives a flying fluck???  Im watching Carly Simon, Errr, I meant.. Steven Tyler and J Lo on American Idol. Far more entertaining.

HamyWanger's picture

Do you really believe that a primary dealer can be submitted to US justice? 


Harmonious_Dissonance's picture

Roaches run from sunlight, Hamy.

RockyRacoon's picture

You go Wanger.  You've been a good alternate cognomen for your namesake.

Nobody gets no respect on ZH.  We bitch about the "banks" and then we bitch about the folks who call 'em out.   Either ad hominen attacks on the justice seekers, or threats of public quartering for the bankers.   We are a ruthless and bloodthirsty bunch.

Wouldn't have it any other way.

Shameful's picture

Yeah I'll believe that the system works when Lloyd and Jamie are in Federal pound me in the ass prison. When Lloyd is tossing salad and Jamie is biting the pillow I'll believe there can be justice in the USA.

dick cheneys ghost's picture

Dont forget the Rothschilds........

Perseid.Rocks's picture

How dare they earn $50 Billion at the expense of innocent investors.. we must fine those Golden Sachs $3 Million right this instant.. $3 Million and not a penny more !


chindit13's picture

Maybe there's a father-son prison out there somewhere, and Lloyd Blankfein can share a cell with his son Jared Lee Loughner.  We're all about "family" in America, after all.

Long-John-Silver's picture

SEC= Secretly Exchanging Cash

silvertrain's picture

"Our investigation found a financial snake pit rife with greed,conflicts of interest and wrongdoing"

Hope everyone sold there commodities off when GS top called it....

lincolnsteffens's picture

Oh yeah, sure. Anybody know who tried to flood the paper market and drive it down?


DavidPierre's picture

WSJ this morning ... Glencore International is going to launch an IPO in London and Hong Kong. There have been several articles about this in the WSJ over the past few weeks.

Glencore is the largest commodity trading company by revenue in the world.

This will be the largest IPO in the world this year, about twice as big as the 2nd biggest IPO of the year. London was indicated as the primary listing venue with Hong Kong being a secondary listing.

Why would the largest commodity trader in the world not list their shares in the US? Are they worried about:

1. the big banks indiscriminately shorting and naked shorting their shares?

2. the reporting requirements and regulations in the US?

3. a combination of 1 and 2?

4. some other factor?

There is something seriously wrong when the largest commodity trader in the world does an IPO and doesn't list in the US.

mcarthur's picture

You know the market has truly topped out when these guys are doing an IPO.  Sort of like the Blackstone IPO.  Greedy bastards from Zug know it is time to cash in. 

Urban Redneck's picture

1) Glencore isn't the firm it used to be.  They used to go where everyone else was afraid to, with the explosion of Emerging Markets those opportunities don't exist on the same scale anymore, so they have become a more traditional commodities producer and trader. 

2) Glencore is still the firm founded by Marc Rich, even if he and his investment are long gone.

3) Why pay US taxes?  European taxes are lower.

nonclaim's picture

Refer Goldman To Justice [...] For Misleading Investors

We need a new tag for posts like this one. I suggest 'hahaha' of something to that effect... Not that I enjoy it, but we need to show what know this 'justice'.

max2205's picture

Sure....meaningless tripe.

Eireann go Brach's picture

Who wil pay Obamas campaign fees now? they will get just a slap in the wrist so Obummer can get his Bama Bucks!

Carpe Diem's picture

They need the big bucks down at the hive.

This great viral tune is the new matra for all of us tired of the political charade.

IdioTsincracY's picture

So, let me get this... everybody wants to see JPM and GS held to account, but then the same people quickly criticize the ones who try to do something about it?!?

I guess you guys must be the ones who voted Obama in to have things change and then 1 and 1/2 yrs in put the Republicans back in so that they could preserve Status Quo.


Wow ... inescapable logic right there!

dark pools of soros's picture

Sophisticate Investors can not be mislead. 

IdioTsincracY's picture


sophisticate - twist: practice sophistry; change the meaning of or be vague about in order to mislead or deceive;

Oxymoron alert!!!

PulauHantu29's picture

Yes, naughty they pay a $10,000 with shaeholder money and retire to their Bermuda Hide-Aways....

lincolnsteffens's picture

How do we know the lawyers are incompetent? Maybe they just got tired of trying to defeat "evil doers" only to see the judges screw it up. The investigator working for Wachovia was discouraged year after year by the people he reported to about money laundering through one branch. He never gave up. All it  took was one upstanding person in a position to do something about it who took an interest and pursued it to the end.

I've got a family member who used to work in quality controll. It was a job that was mandated by government but paid by the company he went to work for. Not doing a good job or looking the other way could have cost hundreds of people their lives and at least their health. He would spot minor problems which the companies fixed. When he found a major flaw in the product line he would require the company to fix it no mater what the cost since it could be lethal. He never would compromise on safety. As a result he was regularly looking for a new company to work for because the companies would not comply. He'd be fired and the company would just hire another quality control guy until they found one that would look the other way.

IdioTsincracY's picture

Right on!

1) Destroy regulations

2) Blame regulators

3) Repeat 1 and 2 ad infinitum

4) When all else fails fire QC staff and await tax payer bailout!

lincolnsteffens's picture

Lots of boyz on ZH, as almost everywhere, are ready to kill or put someone in a pillory until the birds and the bugs torture him for a few months fed on bread, gruel and water. Someone gets accused of some slime ball thing and all the know-nothings-about-the-details-people are ready to pounce. That is why mob rule and vigilantism is against the law. The mob wont wait to hear, see and analyze the evidence cause they know in their minds without knowing much except an accusation that seems to fit their expectations.

I say walk a mile in my shoes. Don't convict someone before you see the evidence. Too many know it alls here spewing out shit cause they THINK they are righteous. ZH is a great site to pick up as it happens REAL NEWS. There are good thought provoking comments here also, but there is a big load of hate mongers and folks that have high opinions of themselves.

TrustWho's picture

Let's put pressure on journalist:


Finally, somebody took the big banks to task for their irresponsible and illegal behavior that contributed significantly to the financial collapse of this country--I am afraid this embarrassingly greedy episode has yet finished its nasty impact on western civilization (PIIGS, UK, USA...) Chairman Sen. Carl Levin (D., Mich.) and the panel's ranking Republican, Sen. Tom Coburn of Oklahoma should be exalted for their outstanding and bold stance against the TBF Banks.

You wrote a great story; however your line at the beginning of the article, "Though lacking evidence of outright fraud," is just plain wrong. Bank executives, especially Goldman, have been referred to the authorities based on the evidence collected by this committee. Senator Levin accused Goldman executives of lying to the committee. Lying is necessary foundation for fraud.

I hope you get many e-mails on your inappropriate statement of fact so you will correct it in a new article. A suggestion for this article is: You could show the hypocrisy in the judicial system by comparing our justice department's energy against Barry Bonds and Roger Clemens relative to their lack of energy in the pursuit of Angelo Mozilo and other bank CEOs who have been involve in this scam and have given false testimony to Congress. In my opinion, the justice department is focusing and spending our tax dollars on the wrong targets!


IdioTsincracY's picture

Very well written ... mine is on its way.



TrustWho's picture

Thank-you, I hope you are one of many.