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Post by unlawflcombatnt on Jul 31, 2009 21:11:13 GMT -6
from the New York Daily News: www.nydailynews.com/money/2009/07/30/2009-07-30_us_senate_requests_.htmlThursday, July 30th 2009, 9:21 AM " Goldman Sachs Group Inc and Deutsche Bank AG were issued subpoenas by a U.S. Senate panel looking for evidence of fraud in the 2008 mortgage-market meltdown, the Wall Street Journal said, citing people familiar with the matter.
The paper said the focus of the investigation is on whether internal communications show executives at the banks had private doubts on the soundness of the mortgage-related securities they were putting together.
According to the paper, Washington Mutual Inc, which is now mostly owned by JP Morgan Chase & Co (JPM.N), was also issued a subpoena by the U.S. Senate Permanent Subcommittee on Investigations
The paper said several other financial institutions may also have received subpoenas from the sub-committee that is headed by Senator Carl Levin....
A subcommittee subpoena raises factual questions and asks for various company correspondence, the paper said, citing a person who reviewed it."
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Post by waltc on Jul 31, 2009 23:44:51 GMT -6
Given that it was the Senate and not the House that issued the subpoenas I don't see anything coming of this except CYA by the Democrats.
They know a lot of people are getting wise to Congress's collusion with Wall Street and they figure a dog and pony show with pointy fingers and bloviating Senators with bar room tans will exonerate Gold Sacks role and their in what transpired.
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