The SEC accuses Goldman Sachs of fraud in a civil suit. An audit of Lehman Brothers reveals it used a shady accounting practice to conceal $50 billion in debts. An investigation of Wa-Mu shows it was rife with fraud, including fabricated loan documents. Clearly, these bankers can’t stop themselves from engaging in deceit to make money. And the “free market” has failed to moderate their reckless gambling. Strict regulation is crucial to prevent them from crashing the world economy again.
|By: TheMediaConsortium Tuesday June 16, 2009 7:27 am|
This week’s Audit looks ahead to President Obama’s financial regulatory overhaul and review some of the abuses from the subprime establishment.
|By: Janushka Tuesday March 17, 2009 11:37 pm|
Goldman using FDIC-backed debt to finance “job-killing mergers”