While we doubt anything material will emerge for various obvious reasons, the NY Post reports that the DOJ is probing Goldman Sachs for alleged Treasury auction rigging: the charge is that Goldman, one of the 23 US primary dealers, won almost all Treasury bond auctions from 2007 to about 2011 even after the Treasury department established safeguards to maintain competitiveness. The case is said to center on chats and emails showing Goldman traders sharing price information with traders at other banks. Chats and emails believed to show Goldman traders sharing sensitive price information with traders at other banks are at the center of the case, according to sources familiar with the investigation.
“They didn’t lose many bids,” one person who has seen the bid data told The Post. The prices Goldman offered for Treasury bonds “would be very close” but just above offers from other banks, and typically arrived “at the end of the auction.” While not the first time we have had news of a DOJ probe into Treasury market rigging - the Post itself reported last March virtually the same story, namely that "Goldman Sachs probed in alleged Treasury rigging", and prior that in June of 2015 - the details are new, and suggest that collusion between the banks reaches far beyond merely FX.
Also notable is the deference to Goldman by other banks, raising questions what was the quid pro quo. The timing is also notable, coming at a time when at least half a dozen Goldman Sachs alumni are in high levels of the executive branch. Which is perhaps why Goldman feels compelled to clarify that "No one has accused any bank, or Mnuchin or Cohn, of any wrongdoing."
One of the biggest developments in the Trump administration has just occurred, and that is that the Trump DOJ and Jeff Sessions have now opened an investigation into criminal banking cartel Goldman Sachs for Treasury Fraud. Weird how Democrats claim Trump somehow works for the banks because of his Treasury Secretary Steve Mnuchin is former Goldman Sachs, but they probably can't explain how President Trump is now allowing a DOJ probe into Goldman Sachs.
Goldman Sachs as millions of Americans should know by now is one of the major criminal banking institutions that have held America hostage since the banker bailout of 2008, and with this DOJ investigation into Goldman Sachs could we finally see bankers going to prison in America. This is likely one of the most interesting developments in the Trump administration this far, because this is likely the first actual true Federal investigation into the wall street banking world by the Federal government...And this comes a day or two after that Trump announced his wanted take down of Americas big banks like Goldman Sachs.
“They didn’t lose many bids,” one person who has seen the bid data told The Post. The prices Goldman offered for Treasury bonds “would be very close” but just above offers from other banks, and typically arrived “at the end of the auction.” While not the first time we have had news of a DOJ probe into Treasury market rigging - the Post itself reported last March virtually the same story, namely that "Goldman Sachs probed in alleged Treasury rigging", and prior that in June of 2015 - the details are new, and suggest that collusion between the banks reaches far beyond merely FX.
Also notable is the deference to Goldman by other banks, raising questions what was the quid pro quo. The timing is also notable, coming at a time when at least half a dozen Goldman Sachs alumni are in high levels of the executive branch. Which is perhaps why Goldman feels compelled to clarify that "No one has accused any bank, or Mnuchin or Cohn, of any wrongdoing."
One of the biggest developments in the Trump administration has just occurred, and that is that the Trump DOJ and Jeff Sessions have now opened an investigation into criminal banking cartel Goldman Sachs for Treasury Fraud. Weird how Democrats claim Trump somehow works for the banks because of his Treasury Secretary Steve Mnuchin is former Goldman Sachs, but they probably can't explain how President Trump is now allowing a DOJ probe into Goldman Sachs.
Goldman Sachs as millions of Americans should know by now is one of the major criminal banking institutions that have held America hostage since the banker bailout of 2008, and with this DOJ investigation into Goldman Sachs could we finally see bankers going to prison in America. This is likely one of the most interesting developments in the Trump administration this far, because this is likely the first actual true Federal investigation into the wall street banking world by the Federal government...And this comes a day or two after that Trump announced his wanted take down of Americas big banks like Goldman Sachs.
