Given the news that Blankfein has hired a high-profile defense attorney, and that perjury charges are possible, it's worth remembering that DOJ is not the only one investigating.
Video - Presidential Historian Doug Wead - July 4, 2010
A clip from last Summer. The headline quote comes exactly at the 2-minute mark.
If charges are filed, they will likely be related to perjury, specifically lying to Congress. An alternative charge of institutional corruption would be much more complex and could easily be buried in years of legal paperwork. NY Times Dealbook confirms tonight that Goldman executives will soon be interviewed by the Justice Department, but that no subpoenas have been issued.
Much more inside.
CNBC Video - Simon Hobbs & Jim Cramer battle over European banks - Aug. 18, 2011
Pretty brilliant moment from last week. Runs 2 minutes.
With BofA trading at 7 bucks, it's a good time to look back at one of Cramer's biggest calls of 2011. The ignorance and hype speak for themselves, and anyone who took the blowhard's advice has lost more than 50% in 8 short months.
Full details and quotes inside.
BofA will be expected to do a capital raise, and they still have a stake in China Construction Bank, which they have been attempting to offload (reportedly for weeks) for $17 billion. So they have a couple options before going hat in hand to Geithner for another bailout.
The initial court hearing was late last week.
"You are the bookie. You are the house. You have less oversight and less regulation as you all began this Wild, Wild West of tranches, waterfalls, residual warehousing...You had less oversight than a pit boss in Las Vegas."
Video - Goldman Hearings - The Video CDO
Sliced, Diced, Tranched and Securitized. This is highly entertaining.
Aug 23, 2011 at 9:17 PM
