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Senate Probes Banks for Meltdown Fraud

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posted on Jul, 30 2009 @ 10:26 AM
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A Senate panel has subpoenaed financial institutions, including Goldman Sachs Group Inc. and Deutsche Bank AG, seeking evidence of fraud in last year's mortgage-market meltdown, according to people familiar with the situation.

The congressional investigation appears to focus on whether internal communications, such as email, show bankers had private doubts about whether mortgage-related securities they were putting together were as financially sound as their public pronouncements suggested. Collapsing values for many of those securities played a big role in precipitating ...

online.wsj.com...

Is the senate finally doing something sensible?

Interesting to see what they dig up, if anything. Perhaps it's just to keep the sheep happy. You never know.




posted on Jul, 30 2009 @ 12:00 PM
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I really hope the election of senators and house representatives hasn't been rigged so we can make sure this kind of thing keeps being looked into for the next 4 years >.



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