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Goldman Sachs Scandal: Fabulous Fab and Masters of the Universe
By Walter Shapiro - Politics DailyIt was just one sentence in a 2007 e-mail, written in a mixture of French and English, but it conveys the essence of the latest legal and political cloud of volcanic ash hovering over Goldman Sachs. The well-timed scandal -- hitting the headlines just as the Senate is debating financial deregulation this week -- was triggered by a Securities and Exchange Commission complaint Friday against Goldman Sachs and one of the investment banking house's junior vice presidents. The SEC accused them of marketing born-to-lose mortgage-backed securities without making full disclosure to unwary ...
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