Spitzer: If The Attorney General Does Not Sue Goldman Sachs, He Should Resign

Tyler Durden's picture

Now that Goldman is back in the spotlight following Carl Levin's concluding report, referring Goldman Sachs to the same law enforcement authorities that are overeager to get a job at none other than Goldman (the most recent example of which came yesterday when Bank of America which hired Gary Lynch, a former director of enforcement at the SEC, to head its legal, compliance, and regulatory relations efforts) for misleading investors and perjury, the wave of indignation at the glaringly obvious is once again back in vogue. To wit: on Friday's Andreson Cooper, Matt Taibbi and Eliot Spitzer presented their views on the fact that several years into the biggest ponzi collapse in Wall Street history, stabilized only by the Fed's pledging of trillions in taxpayer capital and the Treasury issuing like amount in debt to prevent the insolvency of Wall Street's corner offices, nobody has still gone to jail. It was actually an oddly open and forthright show. Some of the notable soundbites from the transcript: "Eliot, do you believe Goldman broke the law and lied? - Yes, I do. And I know people are going to say how can you say that as a lawyer? I have read this report. It confirms our worst fears about double dealing, lying. Goldman Sachs has zero, none, nada credibility in my book"....."Tim Geithner, treasury secretary, apparently reported in today's "New York Times" was calling people saying don't bring cases, it will unsettle the markets, so they let these guys go free. Meanwhile, he signed off on $12.9 billion to Goldman to cover a bad bet they made."....."Goldman Sachs was the number one private campaign contributor to Barack Obama's presidential election campaign. It's one of the single biggest campaign contributors to both parties in Congress"..."Anderson, before I sued, went after Merrill Lynch, which was the first case we filed many years back, I was told by their lawyer -- this is a direct quote -- "Be careful, we have powerful friends"...and the kicker: "Do you think the Justice Department will prosecute? Spitzer: If they don't, shame on them. If they don't, the Attorney General should resign if he can't bring this case." And when Holder resigns, he can go work as Goldman's newest General Counsel, the end. Hopefully, unlike last time people got angry, only to promptly lose interest in Wall Street's crimes, this time it actually leads to something.

Complete program transcript:

Anderson Cooper Transcript

h/t MM

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Dick Darlington's picture

Completely OT but for those interested in Finnish elections, now that the pre-votes have been counted, the anti-euro True Finns gained massively and were 3rd biggest party with 18.7% of the votes. If this will hold when all votes have been counted things will get very interesting...


DavidC's picture

Thanks Dick, I was reading about the True Finns earlier and was/am interested in how the election might pan out.


WestVillageIdiot's picture

Who would want to join the EU at this stage of the game?  That is like joining the Nazi Party in 1946.

chumbawamba's picture

Or like buying US Treasuries/Selling Gold in 2011.

I am Chumbawamba.

Ted Celeste's picture

+1.  To this and everything you have contributed on this site.  Thanks for still being here.

margaris's picture

Found the whole interview (10 min.) on youtube:



Fíréan's picture

@ margaris.


Thank you for posting the link.

Dick Darlington's picture

My pleasure D. Here's an update: roughly 64% of all votes now counted and True Finns are sharing the first place as the biggest party with National Coalition!

naiverealist's picture

this is a cll for action.  Who will heed the call?  When??  Before or after the statute of limitations runs  out.

WestVillageIdiot's picture

Obama and Holder are proving that black people can be just as corrupt as white people.  I figured Marion Barry, Don King, Jessie Jackson, and a host of others had already done that but Holder and Obama are at the pinnacle of power.  They can't offer the excuse that they are "fighting the man".  They are the man and boy do they suck. 

DeadFred's picture

Always remember rule #1-  The banks control the government, not the other way around.  It has nothing to do with their skin color, party or anything else.  Anyone in those positions will be controlled by the banks.

Arthor Bearing's picture

Woooo uncomfortable racial comment crisis averted

EDIT: hahaha Chumbawamba you're killing me

chumbawamba's picture

Yeah, it took a black guy becoming president to wake people up to the fact that we've had nothing but niggers running the show for decades now.

I am Chumbawamba.

trillionaire's picture

Can you tell us what you mean by "niggers"?

Holodomor2012's picture

Quasi Mongoloid Eastern Europeans

Hansel's picture

I can only guess he's using the Chris Rock definition (about 2:30 in).

cosmictrainwreck's picture

dictionary.com defn 2: "a person of any race or origin regarded as contemptible, inferior, ignorant, etc." Only 1 of 3 def's apply specifically to dark-skinned individuals. Everybody's so freaked out over the N word, lest we "offend' anybody. Shit - I am offended every fuckin' day by all kinds of shit, and nobody defends my sorry ass (white male). You damn betcha they've all been niggers.... since JFK. Whores, too.

The Rock's picture

They've all been nuthin' but bitchez and hoez.

Milestones's picture

Ya Chumba, we're on the same page like I thought.       Milestones

Oracle of Kypseli's picture

West Village (Nishimura)

I would make a dinstiction here. You should say "black politicians" are as corrupt as "white politicians."

Most people of any color are not corrupt. 

BTW: To prove your point all you have to do is look at the African nations.

bigkahuna's picture

corruption is for everyone -- it always has been.

Leo Kolivakis's picture

Spitzer should have been the AG or better yet the president if the United States. Instead, we got Donald "the Clown" Trump shamelessly self-promoting himself every chance he gets.

cossack55's picture

Eric Holder= "A Boy Named Won't-Sue"

Wheres Johnny Cash when you need him?


I am Jobe's picture

Need Al Capone back. At least he had a nice baseball bat.

Dr. Porkchop's picture

These guys are so crooked, I'll bet even the mob sits around and complains about them.

Concentrated power has always been the enemy of liberty.'s picture

And I thought it was just your financial commentary that was junk...


Spitzer for POTUS?  You seriously typed it?  I mean it's one thing not to like the contenders, but it's entirely another to propose Spitzer.  The country has born enough cigar's in aide's and generally unqualified windbags.

topcallingtroll's picture

I don't like democrats in general, but bill clinton wasn't too bad.  It is really scary that Georgie boy made me nostalgic for horndog.

WestVillageIdiot's picture

Yes, Clinton and Congress balanced the budget.  Bwahahaha.  I never tire of hearing that joke.  I was at a trade show where Joe Scarborough was the speaker and kept repeating that over and over again.  I almost threw up.  Clinton only gave us Rubin and Summers and Hillary.  What a guy.  I do miss him.  Maybe I should go visit him in Harlem.  Oh, wait, his office is just up there.  That doesn't mean he actually hangs out there.  I would have to go to Chappaqua to find one of those phony Clintons.

"Man of the people" - ha ha. 

Gimp's picture

Razoback Bill looked good on the surface but if people only new the truly shitty trade deals that he made with foreign nations that have caused the US to loose more jobs and money than can be counted you would realize that the BJ was the highlight of his POTUS reign... oops, spilled some.

Dooud's picture

Dont be suprised when we finally learn that HornDog was behind the massive Tungsten replacement program at Fort Knox and the real reason Sandy Berger was redacting and stealing original notes was for this reason.

mdwagner's picture

Right, it's almost like he didn't even sign the repeal of Glass-Steagal and is now paid over $500k per speaking appearences by the banks too big to fail over and over and over again, raising his net worth from being $15 million in debt to being worth over $120 million today.  

It's almost like he wasn't the number one guy who opened the floodgates to outsourcing our jobs in a huge sellout to Wall Street.

Bill Clinton, what a guy.  At least he decided to raid the entire coffers of Social Security revenue to use as general revenues as an accounting gimmick to say he "balanced the budget."

Chuck Yeager's picture

The unqualified windbag part might be true.  I don't know.

But judging Spitzer (or any public official) for conduct unrelated to their office is getting old.

Cast all the stones you want.  We will ALL end up bruised and bloody.  Every last one.


Montgomery Burns's picture

 Powerful men screwing around with young women?  SHOCKING!! 


What was really shocking was that Clinton always went for such pigs. Could have done a lot better IMO.

MaHatma Coatma's picture

Hey Monty,  imagine Berlasconi and Clinton having a private conversation about Bill's taste in women.  Bunga Bunga!

Landrew's picture

Oh, contraire! Gennifer Flowers was not a pig. Penthouse photos proved that. She was lovely, at least on the outside ha!

Dooud's picture

Compare pictures of Gennifer and young Hillary and you can probably
understand the reason behind HornDog's interest, just living out the fantasy
he wasnt getting at home. ;)

web bot's picture

Leo... you just don't get it...

Now you're an expert on Spitzer? Look, you're a failed pension wannabe now becoming an expert on everything else.

Regardless of what one thinks of Spitzer, he's miles ahead of you. You're not even qualified to comment.



<Paging Mr. Akak... Paging Mr. Akak...>



topcallingtroll's picture

Hey no trolling without a license.

Read the fine print.

WestVillageIdiot's picture

Spitzer just screwed one hooker.  Holder and Obama are screwing us all.  And we aren't even getting paid. 

web bot's picture




topcallingtroll's picture

Regulatory capture cannot be stopped when people have a cushy private opportunity when they leave the bureaucracy.

We need to end all financial regulations and zero out the bureaucracies. When things go bad people need to lose money.

Personal vigilance and ending moral hazard will correct all financial excesses at least as well as our current system and will cost the taxpayers less.

I wonder where tim geithner will go after he leaves public service.

Anyone want to place bets on timmah's future sugardaddy?