Goldman Sachs pays 5 Billion & Settles Mortgage Fraud Charges

Goldman Sachs pays 5 Billion & Settles Mortgage Fraud Charges

Once again we have a clear case of the rich being allowed to get away with murder.  Goldman was at the forefront of the subprime mortgage crisis, yet it takes years for our court systems to bring any form of justice to the table. And when it attempts to deliver a so-called Just verdict it is so pathetic that it encourages the perpetrator to do it again.   Goldman has not admitted to any wrongdoing; they have simply agreed to pay fines (slap on the wrist) in return for no prosecution. In other words, they bought their way out and after all the money they will pay out to settle this issue, they will still be left with a boatload.  In other words, these sanctions are nothing but sanctimonious crap and are just show to give the illusion that justice is being meted out.

Goldman is a professional when it comes to settling claims out of court. It has reached settlements in several other cases involving other banks:

J.P. Morgan Chase ($13 billion), Bank of America ($16.6 billion), Citibank ($7 billion) and Morgan Stanley ($3.2 billion).

“We are pleased to put these legacy matters behind us,” a Goldman spokesman said in a statement. “Since the financial crisis, we have taken significant steps to strengthen our culture, reinforce our commitment to our clients, and ensure our governance processes are robust,”  said one of the crooks at Goldman 

“How do we know that we caught everything?” asked a Goldman committee tasked with reviewing and approving mortgage-backed securities, according to the Justice Department. “We don’t,” a Goldman manager said.

They actually do, because there were explicit instructions given to the heads of the department to condone such behaviour. what they are saying is that we know but we are pretending that there could be more.  Note that they always settle years later so that the new scams they are connected with are in effect paying for the old scams.  They never lose; they just give the impression that they are sorry, but at the end of the day they are laughing their way to the bank.

“Depends on what you mean by everything? Because of the limited sampling… we don’t catch everything,” another Goldman manager said.

There you go; nothing will change, they are already providing hints that all is not well, so don’t expect anything to change. The era of massive fraud is upon us and things will only get worse unless these bandits are locked up. Chances of that coming to pass, slim to none.

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