Whatever happened to that NY DA who was going after Goldman Sachs, et. al.????

[99th_Monkey]

Remember this? http://articles.nydailynews.com/2011-06-02/news/29631706_1_goldman-sachs-manhattan-da-subpoena

Goldman Sachs hit with subpoena from Manhattan DA: Will Wall St. fat cats face jail for '08 crisis?
BY MELISSA GRACE AND HELEN KENNEDY
DAILY NEWS STAFF WRITERS
Thursday, June 02, 2011

Manhattan District Attorney Cy Vance has a fat new target: Wall Street titan Goldman Sachs, which got hit with a subpoena into its actions right before the 2008 credit collapse.

The subpoena stems from a scathing 639-page Senate report accusing Goldman of deliberately selling toxic mortgage-backed securities to unsuspecting clients, knowing the housing market was about to crash.

"It's very serious," said a law enforcement source who noted Thursday that Vance's office is "throwing resources at it."


------------------------------------------------------------------------------

THIS WAS 3-4 MONTHS AGO, AND I HAVEN'T HEARD BOO ABOUT IT SINCE THIS BROKE. ANYONE KNOW??

THIS SEEMS ESPECIALLY IMPORTANT AND RELEVANT GIVEN WHAT'S GOING ON WITH OCCUPY WALL ST.

[banned from Kos]

1. Goldman had no hand in the 2008 crisis

They have no consumer business at all. Sure, Goldman sold crappy MBS to Abacus - but why cry for another fund?

Countrywide and Washington Mutual (plus 100s others) with their liar/NINJA Option ARM shitty mortgages were the root cause.

[99th_Monkey]

5. huh?

http://crooksandliars.com/susie-madrak/sen-carl-levin-wants-goldman-sachs-ex

[Name removed]

6. Deleted message

Sub-thread removed by moderator. Click here to review the message board rules.

[banned from Kos]

15. Right. So Goldman decieved another big fund and that fund never initiated action

against Goldman.

OK, fine.

Goldman was not out there pushing shitty mortgages on consumers. There were many others who did that.

http://www.time.com/time/specials/packages/completelist/0,29569,1877351,00.html

(list of 25 people most to blame for financial crisis - no one from Goldman)

[Rex]

19. So this is all made up stuff that never happened?

http://www.rollingstone.com/politics/news/the-people-vs-goldman-sachs-20110511

Keep defending a criminal corporation all you want. Defrauding clients is a crime, but spin away. :eyes:

[banned from Kos]

22. I acknowledge Goldman decieved another Big Fund.

But Goldman has no checking accounts, no mortgage origination, no credit cards, no consumer business at all.

You can get all teary-eyed about the unnamed Big Fund but I won't. They read the prospectus.

And they paid a $550 million fine - excellent! BP paid $20 billion - better.

[Rex]

24. They committed a crime and you defend them. Says a lot about

you imo but whatever. It is your prerogative to defend criminals blindly. I won't.

[banned from Kos]

28. No one proved their "crime". No victim came forward. None at all.

When Elizabeth Warren's CFPB is finished it will have no impact on Goldman -- they have NO CONSUMER BUSINESS.

Have you ever seen a Goldman bank branch? Of course not.

[Rex]

29. Your statement is so weak. Who says you have to be a bank to

commit a crime? That's all you got!??! They defrauded their clients! Over and over! What does that mean to you? Right, nothing. Glad you have nothing to do with big biz...we need honest people in charge - not those that look the other way when a favored company commits fraud. Which is against the law...sorry.

[ArcticFox]

42. Who needs proof these days?

Nor charges. Just drop a bomb on them and proclaim it a great day in the war on crime.

Or does that approach only apply to flesh and blood persons?

[Romulox]

31. You know, the good folks at KOS may have been on to something...

:hi:

[Rex]

33. I learned something today, it ain't a crime if you ain't a bank!

People get stuck on the bankster ploy way to often imo.

[banned from Kos]

38. Do you know anything about civil law? Why doesn't the "victim" sue Goldman?

I'll tell you why because I read the prospectus. They have no chance of winning. The warning was writ large "the underlying mortgages could fail" (I am paraphrasing).

Congress won $550 million on the politics only.

[Rex]

40. They will in time and GFS is going down for criminal activity.

Doesn't matter if you read the source document, you don't seem to care about justice. Shrill for GS all you want to...it just seems kinda pathetic to do on a message board. If you read further down in this thread you will see people are already taking action against GS. Why don't you go argue with them about your nonsensical love for GS? I really don't care anymore, you disgust me.

[banned from Kos]

45. 7-8 years from now you will still be howling about why

"Goldman never got beheaded" like Rosanne is doing.

I offer you a legal explanation and you cover your ears.

[Rex]

47. You posted that fraud is okay as long as it is a company you

approve of. That is fine, you say crime is okay in your book. Roger, that is your problem. Me, I like it when criminals get punished for their wrongdoings...you not so much.

[banned from Kos]

49. you're lying - I don't use the term "fraud".

It has a specific legal meaning.

I used "deceit".

[Rex]

50. Nice weasel words.

:eyes:

Fraud is intentional deception...not that you care.

And you used the word 'deceived' not 'deceit'...can you get anymore disingenuous in your posting? I think not.

[girl gone mad]

46. They did become a bank holding company..

in order to partake in government largesse.

[red dog 1]

39. Goldman Sachs did have a hand in the crisis that's brewing today in Greece

Michael Bass's latest book, "Boomerang: The Meltdown Tour", tells the stories of the fiscal restlessness in both Europe and the U.S. that led to the current debt crisis.
"In Greece", he says, "the government initially disguised the true state of it's finances with the help of U.S. bankers.
Goldman Sachs, for example, did off-market currency trades with the government of Greece.
Those trades enabled the Greek government to book upfront a big profit, but down the road the Greek government would have to repay Goldman Sachs quite a bit", Lewis says. "So Goldman Sachs lent the government money without saying that's what they were doing...They helped the Greek Government rig it's books so that they looked acceptable to the European Union so they'd be admitted to the euro-zone"

[Rex]

41. Even so, the poster already admits he doesn't care if they committed

a crime or not...so there is no point in mentioning facts.

[banned from Kos]

44. I did not say that - there is no crime proven. Period. n/t

please link to a CONVICTION - if you know what that term means.

[Rex]

48. Yes you did, you said fraud is a okay in your book.

Do you know what the term fraud means? I doubt it.

[banned from Kos]

43. agree 100% - Greece got their money's worth from Goldman

"rig its books" is good enough.

Let the EU sort that out. Its not germane in the US. I predict that the EU will do nothing though since they would have to admit they were readily duped by Greece in their haste to form the EU.

[red dog 1]

52. Correction to previous post.

In my previous post I referred to Michael Bass's latest book, "Boomerang The Meltdown Tour"
It should read Michael Lewis's latest book, "Boomerang: The Meltdown Tour"

[Rex]

2. They were appointed another cabinet seat.

GFS is untouchable. Just like JP Morgan. Some corporations are so far above the law, it attracts unwanted attention.

[99th_Monkey]

9. No doubt

but geesh, it sure happened quietly, what happened to Mr. Vance? an unfortunate fall from his office window,
auto or plane crash? I never heard. Or maybe he was quietly bought off? or just scared off, what with
all that "could happen" to his wife, kids or whever.

[Rex]

16. Well if you look at this WSJ page, he has had nothing to do with

http://topics.nytimes.com/top/reference/timestopics/people/v/cyrus_r_vance_jr/index.html

any wall street arrests or procecutions so...I dunno, nobody wants to report bad news about their paymasters? :shrug:

[99th_Monkey]

23. From that write-up, it looks like Mr. Vance

was quite busy last June with the Strauss-Khan fiasco.

But that doesn't mean his office isn't also going after Goldman Sachs, as reported in the OP link

[Rex]

25. No, but you would think the WSJ would report on such activity.

Naw I am kidding...Rupert Murdoch owns the WSJ and would never let a fellow paymaster get burned.

[99th_Monkey]

27. ;-) nt

[Trillo]

3. Scrubbed? Google News search for

"Goldman Sachs" "Cy Vance"
(using quotes)

0 results

Scrubbed?

[99th_Monkey]

7. good question

Here's what I googled to find the article in OP
"NEW YORK DA GOING AFTER WALL ST."
http://www.google.com/webhp?sa=N&hl=en&tab=lw#hl=en&cp=32&gs_id=2y&xhr=t&q=NEW+YORK+DA+GOING+AFTER+WALL+ST.&qe=TkVXIFlPUksgREEgR09JTkcgQUZURVIgV0FMTCBTVC4&qesig=J1ZXnPILZ01etmnr_iumow&pkc=AFgZ2tmNs6oGvuVW2wkhEy2pzOL-2tRGTWWN0v78vSOvfc4qNCEpauBViH9Upyhvyzp81K27dngiT4WUR5qg1gpiOcn7WPCGhw&pf=p&sclient=psy-ab&site=webhp&source=hp&pbx=1&oq=NEW+YORK+DA+GOING+AFTER+WALL+ST.&aq=f&aqi=&aql=&gs_sm=&gs_upl=&bav=on.2,or.r_gc.r_pw.,cf.osb&fp=553c676373baeb8&biw=1562&bih=870

[RoccoR5955]

4. Uhhh... He retired.

Meanwhile, When he was AG, Spitzer was going after Wall St. left and right, which is why the RepubliCONs had him framed. Had Spitzer not been framed, these guys might be in jail. The new AG, Schneiderman will go after them, in due time. He's a good man.
Cuomo is a neo-progressive, from the same school as Obama. More like one of the go along, get along gang.

[99th_Monkey]

10. Do you mean Cy Vance retired? or who?

[RoccoR5955]

12. No, not Vance, Morgenthau.

Who was DA for 34 years.

[99th_Monkey]

18. My OP question was about Cy Vance, who in June '11 announced he was

going after Goldman Sachs. Did you even read the op?

MY QUESTION -- TO REPEAT IT -- IS WHAT HAPPENED TO THIS
SUPPOSED INVESTIGATION, SINCE IT'S SUPPOSEDLY BEEN GOING ON NOW
FOR 3-4 MONTHS. DO YOU KNOW?

[jtown1123]

8. Are you talking about Eric Schneiderman? He's still prosecuting

http://www.politico.com/news/stories/0911/64299.html

[99th_Monkey]

11. Did you read the article?

from very first line of the article "Manhattan District Attorney Cy Vance has a fat new target..."

[jtown1123]

13. I saw that I was letting you know that the NY DA is still very involved.

I never heard of that person before you posted the link...

[RoccoR5955]

14. But if Geitner does what he did to Spitzer, or threatens to

we'll see how fast he gets off the case!

[jtown1123]

17. I feel bad for Schneiderman but I hope he stays strong. He's going to piss everyone off

rightfully so. I almost worry for his safety.

[99th_Monkey]

20. Only "almost"? nt

[The Magistrate]

21. Seems To Still Be In Action, Sir

http://www.businessinsider.com/manhattan-da-widens-probe-of-goldman-sachs-issuing-more-subpoenas-in-recent-weeks-2011-9?comments=all#comment-4e6800b669bedd362f000060

Manhattan DA Widens Probe Of Goldman Sachs, Issuing More Subpoenas In Recent Weeks (dateline Sept. 7,2011)

Read more: http://www.businessinsider.com/manhattan-da-widens-probe-of-goldman-sachs-issuing-more-subpoenas-in-recent-weeks-2011-9?comments=all#comment-4e6800b669bedd362f000060#ixzz1ZqZMZf3a

[99th_Monkey]

26. COOL. Great to hear.

Finally, someone actually answers my question. Huge thanks.

I wonder is there's a way to link this investigation -- which as we see,
is happening VERY quietly, suspiciously so for my taste -- with the Occupy
Wall St. action, in signs posters, etc. to explicitly support and bring
much more attention to these investigations/prosecutions, as a way of
protecting people like Mr. Vance with the light of day all over these
proceedings.

You have any thoughts on this?

[Rex]

32. Thanks!

That was what I was looking for! Once again The Magistrate delivers the goods. :thumbsup:

[librechik]

30. it's possible you have Vance mixed up with the State AG of New York Eric T. Schneiderman

http://www.ibtimes.com/articles/224534/20111004/eric-schneiderman-elizabeth-warren.htm

In August, Schneiderman tried to block court approval of an $8.5 billion agreement between Bank of America and Bank of New York Mellon to settle claims over mortgage-backed securities. Instead of bashing the banks from a bully pulpit during a press conference, he had his court filing do the talking for him.

In it, Schneiderman called the $8.5 billion settlement figure a "fraction of the losses suffered" by investors and accused Bank of New York Mellon of misleading investors in securitizing mortgages.

Though Bank of New York Mellon criticized Schneiderman's bid to intervene in its settlement, it took notice of his legal ingenuity. "There is no precedent for such an intervention" or for Schneiderman's legal theory in bringing the action, the bank said in a court filing.

Schneiderman also opposed a deal to provide banks immunity from civil action if a settlement over poor foreclosure practices with 50 state attorneys general is signed.

[99th_Monkey]

35. No, I mean exactly who I said, Cy Vance, Manhatten DA.

Allow me to introduce you...

http://articles.nydailynews.com/2011-06-02/news/29631706_1_goldman-sachs-manhattan-da-subpoena
http://topics.nytimes.com/top/reference/timestopics/people/v/cyrus_r_vance_jr/index.html

[librechik]

37. ok, in that case, NOTHING has happened, Goldman Sachs has not responded

and no indictments have been issued, no news items since June 3.

[99th_Monkey]

51. I think some confusion was due to my typing "NY DA" in OP, instead of Manhatten DA

sorry ...

actually someone did post some more recent news on this however,
turns out Mr. Vance's investigation is not only "ongoing" but is
also expanding & widening in scope.

see it here: http://www.businessinsider.com/manhattan-da-widens-probe-of-goldman-sachs-issuing-more-subpoenas-in-recent-weeks-2011-9?comments=all#comment-4e6800b669bedd362f000060#ixzz1ZqZMZf3a

GREAT NEWS indeed!! .. but it seems to be going on in some airtight soundproof container somewhere.

Hope someone has Mr. Vance's back.

[librechik]

53. good to know NY has two crusading prosecutors interested in reining in WS n/t

[99th_Monkey]

54. Yes, yes, and hopefully they are cooperating w/ one another in the investigation. nt

[starroute]

34. You can find more if you search under "Cyrus Vance"

I suppose he prefers to be called Cy so as not to be confused with his father, who was Jimmy Carter's Secretary of State.

That being said, though, not much seems to have happened since June.

[99th_Monkey]

36. Actually, someone did answer my question,

finding that the investigation is indeed on going and widening. See it here:
http://www.businessinsider.com/manhattan-da-widens-probe-of-goldman-sachs-issuing-more-subpoenas-in-recent-weeks-2011-9?comments=all#comment-4e6800b669bedd362f000060#ixzz1ZqZMZf3a


I'm wanting to connect the dots here with this investigation and the current Occupation on Wall St.