RSN Fundraising Banner
FB Share
Email This Page
add comment
read more of todays top articles

Matt Taibbi reports: "Thanks to an extraordinary investigative effort by a Senate subcommittee that unilaterally decided to take up the burden the criminal justice system has repeatedly refused to shoulder, we now know exactly what Goldman Sachs executives like Lloyd Blankfein and Daniel Sparks lied about. We know exactly how they and other top Goldman executives, including David Viniar and Thomas Montag, defrauded their clients. America has been waiting for a case to bring against Wall Street. Here it is, and the evidence has been gift-wrapped and left at the doorstep of federal prosecutors, evidence that doesn't leave much doubt: Goldman Sachs should stand trial."

Goldman Sachs CEO Lloyd Blankfein misled Congress when he testified before the Senate's Permanent Subcommittee on Investigations, 04/14/11. (photo: Jim Watson/AFP)
Goldman Sachs CEO Lloyd Blankfein misled Congress when he testified before the Senate's Permanent Subcommittee on Investigations, 04/14/11. (photo: Jim Watson/AFP)

go to original article your social media marketing partner


A note of caution regarding our comment sections:

For months a stream of media reports have warned of coordinated propaganda efforts targeting political websites based in the U.S., particularly in the run-up to the 2016 presidential election.

We too were alarmed at the patterns we were, and still are, seeing. It is clear that the provocateurs are far more savvy, disciplined, and purposeful than anything we have ever experienced before.

It is also clear that we still have elements of the same activity in our article discussion forums at this time.

We have hosted and encouraged reader expression since the turn of the century. The comments of our readers are the most vibrant, best-used interactive feature at Reader Supported News. Accordingly, we are strongly resistant to interrupting those services.

It is, however, important to note that in all likelihood hardened operatives are attempting to shape the dialog our community seeks to engage in.

Adapt and overcome.

Marc Ash
Founder, Reader Supported News

+21 # rf 2011-05-17 11:22
Good luck with Holder! He won't prosecute torturers but he will sure f&*k with leakers that make the O whitehouse look bad!
+20 # m 2011-05-17 12:21
+8 # MidwestTom 2011-05-17 12:36
Remember, you don't bite the hand that feeds you.
+7 # KittatinyHawk 2011-05-17 14:42
Time to remove it
+32 # teineitalia 2011-05-17 12:45
another brilliant piece by Matt of our best and finest investigative reporters, he spares us the BS and gets down to the nitty gritty.

thank you for caring, Matt. We need you now more than ever
+5 # Ivianna 2011-05-17 13:39
teineitalia, I second that.
+7 # Lee Black 2011-05-18 11:51
Yes, we must support journalists like Taibbi and magazines like Rolling Stone: The New York Magazine, Mother Jones and Vanity Fair. Thank goodness there are still some investigative reporters left.
+23 # lcarrier 2011-05-17 13:05
If this doesn't make Eric Holder grow a set of cohones, then nothing will. Eliot Spitzer was brought down on prostitution charges. Isn't it time to take down the whorehouse that is Goldman-Sachs?
+26 # in deo veritas 2011-05-17 13:10
Rip the bastards a new one!Give us a reason to believe that "too big to fail" is not so!Make them pay back every cent that was used to bail them out! If Holder won't do it then he better resign or be charged with aiding and abetting. This is a chance for Obama to restore some measure of faith in him personally and in his administration. Failure here will be political suicide for the Democratic Party-and should be! if prosecution is launched the Repugs better get out of the way or it will be their necks in the noose as well!
+6 # Colin 2011-05-17 13:39
Great article, Matt.
+17 # VSweet 2011-05-17 13:48
So how much will Goldman have to pay back and excuse, will it be with compound interest? After all, this is WE THE PEOPLE's tax dollars we're are talking about.
+14 # Mitchell Krasny 2011-05-17 14:02
It's sad to learn that people can be so blinded by greed that they don't even recognize when they've crossed the line from being responsible custodians of the financial system to stealing from the very people who trusted them. This demonstrates why the system of regulations is so important to the financial system. You wouldn't allow a group of high school or college kids to play a game of football or basketball without providing competent umpires and referees; why would you expect those same people to play the game of "high finance" without a similar umpire or referee? We don't need LESS regulation; we need MORE. And, if necessary, we may need regulators to regulate the regulators.
+16 # Kayjay 2011-05-17 14:45
It's time for our justice system to apply to the wealthy as well. No matter how much their high paid lawyers babble, justice and jail time will prevail. Oh.... and by the way on financial regulation, the Canadian govt has always held the reins. And thus their banks and nation have bounced back from the worldwide downturn a lot better than ours.
+9 # KittatinyHawk 2011-05-17 14:47
I believe if I was any of the latest Criminals caught and inprisoned I would be looking at my Lawyers and saying...Sue the Government if they do not bring these crooks down.

I believe the Forefathers didnot say this one goes to jail and that one doesnot. Law was written under the Demise of Equality...This is a taker for the Teathugs if the Justice Department goes on break. Perhaps the IRS better get their roles together and start some process of elimination...h eads must roll.

Thanks Matt and Thanks Rolling Stone...great as always...but lets do something about this.
+12 # giraffee2012 2011-05-17 14:48
Who will prosecute? Those who should are surely in bed with these criminals. The Stupremes are certainly in bed with them (look at their 2010 decision to give corporations "first amendment" rights so that we now have the "best govt $ can buy)

Maybe the "sub committee" can force a lower court to hold a trial? Of course, a class action law-suit .... would take the case to the Stupremes and look what happened with the WalMart Class Action ...

You still have the right to vote: In 2012 don't vote for anyone subsidized by BANKS, Koch brothers, OIL, OIL, GE and "you get the picture" -- bc they will take away your right to "bargain" "have your day in court" and will contribute to eating up the environment " and BTW "don't vote on rhetoric about gay rights, guns, abortion (no Fed $ goes to abortion bc of the Hyde Bill) -- for these platforms will not help you "feed your family" etc
+8 # Progressive Patriot 2011-05-17 19:56
When John Kerry found evidence of bank accounts that were funding terrorists, he turned it over to Federal prosecutors, who did nothing ... so he turned it over to the Attorney General of New York, who used that information to freeze assets and put a crimp in terrorist activites for about ten years ... until the Bushites came along and opened the doors wide.
+5 # jeenious 2011-05-17 15:01
When a "federal prosecutor" does his job, he or she had better be damned sure he or she touches base with whomever he/she REPORTS TO on the job approves filing charges.

A many an investigator has referred a case for prosecution, only to be told the docket is too full now, or the case lacks jury appeal, or some i has not been dotted in the investigation, or some t has not been crossed, or some such perpetual put-off.

The list of excuses for not "going after" someone is long and vaporous. And whatever supervisor, or regional manager, or director of an agency does not come up with a put-off in some cases, can find himself looking for another assignment or appointment, as fits the instance.

And how would this commenter know such things. He would tell you, but he would have to change his name and to into hiding.

Blogging is safe, as long at nobody who doesn't know first hand is going to believe what a blogger says, anyhow.
+13 # docfilms 2011-05-17 16:23
Thank you, Matt. Please do NOT stop investigating and reporting. We NEED you.
+8 # Kirk Bruner 2011-05-17 17:16
I think it's becoming clear why the sex scandal case against Eliot Spitzer suddenly came out of the woodwork when it did.
+7 # pinion 2011-05-17 18:04
Is this supposed to surprise anyone. The former head of Goldman was put in the position to hand out billions to his cronies. That is what this government is all about. We have the most corrupt government officials of the world. This country, and the American people will get exactly what they deserve.
+3 # WhatWeDeserve 2011-05-17 21:41 reform... and its not going to float out of Washington on a silver platter (the honorable Sen. Levin and a few others aside). Its up to us; like it has always been; like it always will be.

Public banks and "sovereign money" provide sufficient answers and strategy to get out of the current mess.
+9 # giraffee2012 2011-05-17 20:55
The justice department is going after a potential "whistle blower" accusing him of being a spy --- so you know what the government is doing? Not finding or prosecuting the real criminals --


It is unclear whether this man is a spy or whistle blower but I figure he's a whistle blower (and that is my opinion) -- WHY? BC he's not presumped innocent before he goes to court!

THanks to the Stuprmes we have the "best govt money can buy" -- Scalia/Thomas slept with Koch brothers before giving big corporations "first amendment rights" --
The constitution demands the Congress to impeach a Stupreme who judges on Politics or $$ (They did both)
+3 # Tee 2011-05-17 21:43
Remember Goldman Sach's was the biggest contributor ever to a presidentail compaign;(900,0 00) to Obama. This is why Goldman Sach's is so comfortable with doing all of this criminal stuff.

Goldman believes that Obama and the justice department will run inteference for them. Obama lulls you into a false sense of security and then he slices you up with lies, half truths, fein helplessness, and then serves you up to his corporate masters.

As much as the working class, middle class, and poor have been beaten around in his two years in office, he fails to fight for us like he does his daughters.
+3 # rf 2011-05-18 05:33
If you didn't hear...O. declared 1.5 million on his tax forms this year. That along with his good relations with Goldman mean his daughters will be just fine hanging out at the country club.
+10 # stonecutter 2011-05-18 07:18
Matt, another amazing, stunning piece of investigative journalism from you, and making extremely complex information comprehensible to the layman, and bitingly caustic all at once, is nothing short of sublime. In my book, you are to the Great Financial Meltdown of 2008 what Seymour Hersh was to Viet Nam and Abu Ghraib.

Goldman Sachs is an evil monolith of greed, amorality and ruthless capitalism...we 'll see if the Justice Department isn't just another division of Goldman. I have low hopes. But I thank you for your brilliance and your commitment to speak truth to power in an era when that is vital.
+4 # John Denton 2011-05-18 09:39
yes, Matt, the previous guy put it so fill the shoes quite well of all the other RS writers....

I sold securities once, and cannot believe how all might great "lights" dropped all their "beliefs" making the accounting system both pimp and whore.
+1 # Ramon Dapena 2011-05-19 08:20
What a short or rather absent you all have. It was Reagan who had Congress eliminate all bank regulation laws which FDR established to prevent another crash like the one in the late 30's. Goldman Sachs is nothing but "one of them". You have to go back and remember the dozens of Banks which gave away it's stockholders money to "retiring executives" at the tune of hundreds of millions to X and Y. All of that money was collected from the sale of useless mortgages all over the world; the money lies in Fiscal Paradises and NO ONE dares go after it ... memories of JFK! If the people in the USA don'¡t wake up, it will happen again!!! Money is the root of all evil.
+2 # billybookworm 2011-05-20 09:51
Until 2004 I made a living recovering money stolen by white collar criminals. Then they legalized white collar crime. They made it impossible to get cooperation from the FBI and SEC. Only small time crooks get prosecuted now, sent to jail for far longer than 5 years in many cases and given lifetime restitution orders they will never be able to pay. White collar crooks pay a fraction of their net worth, do no time and go right back into business making money off the disaster they created.
+2 # DunnDone 2011-05-21 19:54
I recently read Mr Taibbi's article in RS, detailing, among other things, the SEC's relationship with DOJ. SEC has no prosecutorial powers but can recommend cases worth prosecuting.
DOJ not only prosecutes the case, they provide the
defendants with a strategy to minimize their culpability (in fact, an admission of guilt isnt required) and financial redress. Mr. Taibbi points out that many of the SEC and DOJ lawyers are later hired by the companies they had previously prosecuted/regu lated. I applaud Mr. Taibbi's efforts and hope they bear fruit. Criminals belong in jail.
Taibbi is required reading in this household
0 # JM 2011-06-04 11:56
What also makes Goldman Sachs special (referring to last paragraph of Taibbi's excellent article) is its infiltration and virtual domination of the US government, as in "The Guys From Government Sachs" (quote from the NY Times. Goldman Sachs isn't merely the biggest thief among other thieves doing the same thing!

THE NEW STREAMLINED RSN LOGIN PROCESS: Register once, then login and you are ready to comment. All you need is a Username and a Password of your choosing and you are free to comment whenever you like! Welcome to the Reader Supported News community.