Goldman Sachs tries to defend...

WASHINGTON – The CEO of Goldman Sachs testily defended his company's ethics and business practices during the nation's financial crisis on Tuesday, saying customers who bought securities from the Wall Street giant came looking for risk "and that's what they got."
news.yahoo.com...

Really, Lloyd Blankfein? Is that what happened? They came looking for risk? Wait till you read this next piece of buffoonery:

"Unfortunately, the housing market went south very quickly," Lloyd Blankfein told skeptical senators on an investigatory panel. "So people lost money in it."


So that's the long and the short of it , is it Lloyd? Ya just cleared that right up for everyone , didn't ya buddy? Yeah, thanks, but no...

This next part is just as baffling:


"He was the final witness in a daylong hearing on Goldman Sachs' behavior, which resulted in a government civil fraud charge earlier this month. Five present and two former Goldman officials held their ground in hours of contentious testimony, unflinchingly defending their conduct and denying that the Wall Street investment bank helped cause the near-meltdown of the nation's financial system."
news.yahoo.com...

(same source linked)

How could the tesitmony have been contentious? How could they have been unflinching? How dare they say Wall Street played no part in the collapse of the economy!!!!!




ATSers?

Let's hope the SEC finds their balls and puts the screws to these characters! I still can't believe it took this long to start suggesting to bring people to task for what happened in the housing crash.

Now if the Her Majesty's dear government would get off of their butts and start doing investigations in the United Kingdom, we might see some real reform here! Remember my dear Britons who was at the helm in London when all of this went south. I know we haven't been hit nearly as badly as the Americans or, god forbid, the Greeks but we have a banking empire here as the legacy of the overseas adventures of our great-grandfathers, and we do not want to see that trickle away as well.