Scapegoat Alert! Goldman Sachs Says SEC Case Hinges on Actions of One Employee

Goldman Sachs Says SEC Case Hinges on Actions of One Employee
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By Christine Harper and David Scheer



April 21 (Bloomberg) -- Goldman Sachs Group Inc. said the U.S. fraud case against the firm hinges on the actions of the employee it placed on paid leave this week.

Fabrice Tourre, the 31-year-old Goldman Sachs executive director who was accused of misleading investors about a mortgage-linked investment in 2007, will also be de-registered from the Financial Services Authority, a spokeswoman at the firm in London said yesterday.

“It’s all going to be a factual dispute about what he remembers and what the other folks remember on the other side,” Greg Palm, Goldman Sachs’s co-general counsel, said in a call with reporters yesterday, without naming Tourre. “If we had evidence that someone here was trying to mislead someone, that’s not something we’d condone at all and we’d be the first one to take action.”

By characterizing the case as a dispute involving a single employee, Goldman Sachs may be taking its first steps to publically distance itself from Tourre in the case, some lawyers said. That could reduce bad publicity and ultimately make it easier for the company to settle the case.

Goldman Sachs may also want to separate itself from Tourre if it’s concerned he will cooperate with the SEC or implicate more senior employees, said Onnig Dombalagian, a professor at Tulane University Law School in New Orleans and former attorney fellow at the SEC.

more...

http://www.bloomberg.com/apps/news?pid=20601087&sid=a4wQK24j3.Mo

You're right, unbelievable! :crazy:

Goldman Sachs Says SEC Case Hinges on Actions of One Employee, April 21, 2010







And we are just supposed to forget about Goldman Sachs' super-secret proprietary computer code that allowed them to front run the system?








*Abridged version*, with hat tip to RenderQT over at Kos:






It's time Goldman Sachs is sliced up into tiny, impotent pieces and these people dragged off to the penitentiary.

Apparently nobody over there checks disclosure statements before they go out.

Sound from under the bus.

before he went into Kuwait. Nods to Clinton in 93 for covering up Iraqgate for Poppy Bush, and pushing a plea bargain for Drogoul whose defense team had called Kissinger to testify about authorizing the transaction.....suddenly, Clinton's DoJ pushed a slap on the wrist type of plea bargain with Drogoul who supposedly died in prison of 'natural causes' though the media was not informed until a week later. Yeah.....sure. Poppy had him knocked off or.... paid off THEN knocked off.

his office with the door closed? We're SHOCKED, I tell you, shocked!"

:eyes: