Thursday April 13, 2011
Carl Levin, D Michigan is referring Goldman Sachs to the Dept of Justice for possible perjury charges.
Charles Gasparino in Bought and Paid For details how Goldman and Wall Street underwrote the Obama campaign for President. So far GS has had to put up with being called Fat Cats and such and pay some fines but all this debt is underwritten by Wall Street. At issue is GS claim over whether they really shorted mortgages while selling them to their clients.
We are studying derivatives in multiple business classes. It will be interesting to see how this plays out, more show or will GS finally be in trouble.
Professor Elam 
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