BILDERBERG BANKS REFERRED TO JUSTICE DEPARTMENT FOR PROSECUTION

Two Bilderberg banks, Goldman Sachs and Deutsche Bank, have been referred to the Justice Department for possible prosecution for mis-selling CDOs and misleading investors and Congress.

This could lead to something bigger, if anything ever comes from it.

Do I think there will be a trial? I doubt it.

Do I think GS and DB will settle out of court and pay for MacDonalds Quarter Pounder and Fries all round for the Justice Department? It will be something like that.

US Senate investigators probing the financial crisis will refer evidence about Wall Street institutions including Goldman Sachs and Deutsche Bank to the justice department for possible criminal investigations, officials said on Wednesday.

Carl Levin, Democratic chairman of the powerful Senate permanent subcommittee on investigations, said a two-year probe found that banks mis-sold mortgage-backed securities and misled investors and lawmakers.

“We will be referring this matter to the justice department and to the SEC [Securities and Exchange Commission],” he said. “In my judgment, Goldman clearly misled their clients and they misled Congress.”

[source : Goldman criticised in US Senate report, FT, 14/11/2011]