A Few Bribes Later Goldman Sachs Dodges Financial Crisis Fraud Prosecution

 

DOJ has decided it will not prosecute Wall Street firm Goldman Sachs for its involvement in the Financial Crisis fraud

The DOJ has decided it will not prosecute Wall Street firm Goldman Sachs for its involvement in the Financial Crisis fraud.

If you are confused about here’s a hint:

REPORT: Five Senior Goldman Sachs Execs Gave $130K To ‘Obama Victory Fund’ WHILE Eric Holder Was Deciding Whether To File Criminal Charges
This is one of several, very interesting revelations from today’s GAI report on corruption within the Obama Justice Department.  And remember, in our bought and paid for system, what you will read is completely legal.

This is one of several, very interesting revelations from today’s GAI report on corruption within the Obama Justice Department. And remember, in our bought and paid for system, what you will read is completely legal.

 

If you are still confused, Zero Hedge explains further:

Confused Why Goldman Will Face No Criminal Charges? Here’s Why

Yesterday, in a brief but informative post, we asked and answered a simple question: “Confused Why So Many Foreign Banks Are Suddenly Being Charged By The US? Here’s Why.” Naturally, the reference was to such foreign banks as Standard Chartered, Barclays and HSBC (but not UBS and Credit Suisse) which have recently fallen under the US pre-election scapegoating scythe and have found themselves in hot water with US regulators.

Today, on the other hand, we learned courtesy of Goldman’s 10-Q, that the US justice department willnot press criminal charges against Goldman Sachs. This, despite Senator Carl “Shitty Deal” Levin, in one of the most bombastic kangaroo court spectacles on live TV ever, asking for a criminal investigation after the subcommittee he led spent years looking into Goldman, and in which he said Goldman misled Congress and investors (and according to which billions in fraudulent RMBS misrepresentations are all still only Fabrice Tourre’s fault, at that time under 30 years old). And so we pose the same answer, and provide the same anwer, as yesterday, only flipped around: “Confused Why Goldman Will Face No Criminal Charges? Here’s Why.”

Since we are lazy, we will even reuse the same table. It needs no explanation.

non US Banks

 

And let that be a lesson to you dear foreign banks: if you want to play, you have to pay. Of course, the returns are more than worth it.

corporate-lobbying-profit-chart

All of that adds up to this:

Financial Fraud Convictions: Bush 1300+, Clinton 1000+, Obama 0
A scathing report on criminal banker corruption within the Obama administration reveals not a single conviction despite the 2008 Crisis.

bush-clinton-obama-laughing

Financial Fraud Conviction Scorecard:

Bush: 1300+, Clinton: 1000+, Obama: 0.0 (+/-)

Meanwhile, not a word of complaint from a single Democrat in Congress, which is especially infuriating given the broad bi-partisan agreement among voters that criminal bankers need to do time.  Too concerned with keeping up appearances and the next election cycle, neither side of the false left-right paradigm of American politics is capable of exposing its own filth when it comes to legitimate scandal, and this DOJ non-prosecution madness involving Goldman Sachs certainly qualifies as sordid.

Unfortunately, since it appears to the mainstream media that this is a partisan issue, and Obama is the anointed one, this story will get zero coverage.

Categories: ECONOMY

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