Goldman Sachs subpoenaed. Too big to be indicted?

[suffragette]

http://seattletimes.nwsource.com/html/businesstechnology/2015214338_apusgoldmansachssubpoena.html

Goldman Sachs Group Inc. was subpoenaed by the Manhattan District Attorney's office over the investment bank's activities leading up to the financial crisis, a person familiar with the matter told The Associated Press.

~~~

To date, Goldman also is being investigated by Massachusetts state regulators, the Commodities Futures Trading Commission and the Financial Industry Regulatory Authority, according to Brad Hintz, an analyst at Sanford Bernstein.

Hintz, in a report that came out on Wednesday, noted that Goldman has been losing in the court of public opinion. But he believed the firm was too big to be charged criminally because of the strain such a prosecution could put on the financial system and economy.

"Indicting a `too big to fail" financial institution, like Goldman Sachs, is a dangerous undertaking," Hintz said in the report.





So, first they were described as too big to fail and now they're too big to be indicted?


And why all the secrecy surrounding the subpoena?
This article cites "a person familiar with the matter." Others cite two people "familiar with the matter."

[arcane1]

1. "is a dangerous undertaking" sounds somewhat like a threat

Goldman Sachs can GFY!!!

[suffragette]

3. It does, doesn't it?

Really, truly sick of the arrogance of these corporations and their web of supporters.

[RKP5637]

2. The banksters and wall street are now more powerful than Washington, own the

political process and the future of this country and will satisfy their greed to no end with these givens. On the scale of justice, we the people are no match for the banksters and wall street. We have been delegated to the bottom tier, the bottom feeders.

[suffragette]

4. Agree with you, though I'd say this is global and not just here.

So far, Iceland is one of the few places that called their bluff and said they would not take this crap anymore.

[RKP5637]

5. Yes, excellent point! I agree, it is global, not just here. Just watching

what's happening, to me at least, gives credence IMO to some of the concerns that have been called conspiracy theories as discussed about the Bilderberg Group and similar. It's pretty clear to me these folks have a global agenda that IMO is being carried out.

[suffragette]

6. And now the vultures are drooling at the prospect of buying formerly public property in Greece

Want to Buy a Piece of a Greek Island?
Greece's Government Prepares to Sell Up to $42.9 Billion of Public Property to Reduce Its Mountain of Debt

http://online.wsj.com/article/SB10001424052702304563104576357240646607566.html
Now might be your chance to buy that portion of a Greek island you have been coveting.

As part of Greece's privatization plan to raise cash to reduce its mountain of debt, the national government is preparing to sell as much as €30 billion ($42.9 billion) of public property. It is still early in the process, but future sales are likely to include assets ranging from the government's stake in the Mont Parnes Casino resort in Athens, hotels, and even a concession to develop a luxury resort with a world-class golf course on the island of Rhodes.

The Hellenic Public Real Estate Corp., the government body that manages public property, has a list of about 75,000 individual government-owned properties. The corporation has appointed National Bank of Greece SA to lead a consortium of advisers who are now preparing to sell an initial portfolio of 20 to 30 properties, the first of which could be put on the market in the next few months, according to Aristotelis Karytinos, general manager of the real-estate division at National Bank of Greece.

The International Monetary Fund, in its latest report on Greece, estimates that as many as €15 billion could be raised through real-estate sales. Mr. Karytinos says expected proceeds from property sales or leasing is now estimated at between €15 billion and €30 billion. The first step is to sift through the long list of public property, identify the best real estate, and resolve any legal issues to ensure that the property is able to be fully developed by investors.



No concern for the people of Greece or the loss the privatization of publicly held property will result in for generations.


Goldman Sachs was one of the financiers that helped bring that about:
http://www.guardian.co.uk/business/2010/feb/28/goldman-sachs-investment-banking-greece

http://www.spiegel.de/international/europe/0,1518,676634,00.html

[RKP5637]

9. WWIII will be the people versus the vultures, globally! n/t

[Initech]

7. Fuck it, Goldman-Sachs should get the death penalty.

[suffragette]

12. I think they should have to make restitution, then be broken up

[Uncle Joe]

8. When a corporation outgrows the nation's laws, it's too big and needs to be broken up.

Thanks for the thread, suffragette.

[RKP5637]

10. In years past that might have happened, but now we have many corporations

that are mammoth and growing exponentially. I don't think the current administration is going to lift a finger to break up any of them thanks to SCOTUS and Citizens United.

And certainly the republicans aren't going to do a damn thing. So, although I certainly agree they need to be broken up, who is going to do that? I just don't think it will happen.

[suffragette]

11. That's certainly what should happen with every corporation

that fits that description.
Instead we have a global and national pattern best summed up by the sign some of the British students carried in their protest awhile back:
"Our Austerity, Their Prosperity"