Goldman Sachs Beats Another Fraud Rap: Can the Public Ever Get Justice in New York Courts? | WHAT REALLY HAPPENED

Goldman Sachs Beats Another Fraud Rap: Can the Public Ever Get Justice in New York Courts?

Plaintiffs in the case were investors in Hudson Mezzanine Funding 2006-1 and 2006-2, synthetic bets on toxic mortgages which Goldman sold to investors while making multi-billion-dollar bets for its own firm that the deals would fail.

In writing his decision to dismiss the claims by plaintiffs, the Judge actually acknowledged that employees of Goldman Sachs had called what they were selling to their customers “crap” and “junk” in internal emails that were introduced into evidence. Judge Marrero further conceded that Goldman Sachs was aware of deteriorating fundamentals in the subprime mortgage market and needed to “flip” its risk onto the shoulders of its customers. But none of this convinced the Federal Judge – a so-called steward of the public trust – that he had an obligation to let the case proceed to trial and allow citizen jurors make their own determinations in the matter.

Webmaster's Commentary: 

Economic Fascism fully on display!

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