McClatchy Does It Again.

Newspaper Organization McClatchy is running a series of stories on good old Goldman Sachs and their adventurers in AIG/SubPrime.

http://www.mcclatchydc.com/227/story/77791.html

No one in the media except for McClatchy and the blogesphere have taken on the fourth branch of government. Bloomberg to a lesser extent has taken on the government but has left GS alone for the most part.

Its not coincidence that the people at McClatchy were the first to call out the Bush/Cheney/Neocon Cabal and their fruitless exercise in Iraq. The above article even though is well known for the well read should get more everyday hardworking people to stand up against these type of practices.

McClatchy's inquiry found that Goldman Sachs:

•Bought and converted into high-yield bonds tens of thousands of mortgages from subprime lenders that became the subjects of FBI investigations into whether they'd misled borrowers or exaggerated applicants' incomes to justify making hefty loans.


•Used offshore tax havens to shuffle its mortgage-backed securities to institutions worldwide, including European and Asian banks, often in secret deals run through the Cayman Islands, a British territory in the Caribbean that companies use to bypass U.S. disclosure requirements.


•Has dispatched lawyers across the country to repossess homes from bankrupt or financially struggling individuals, many of whom lacked sufficient credit or income but got subprime mortgages anyway because Wall Street made it easy for them to qualify.


•Was buoyed last fall by key federal bailout decisions, at least two of which involved then-Treasury Secretary Henry Paulson, a former Goldman chief executive whose staff at Treasury included several other Goldman alumni.


There are other excellent pieces from McClatchy on GS:

http://www.mcclatchydc.com/homepage/story/77788.html

http://media.mcclatchydc.com/smedia/2009/10/29/12/20091028_Jobs_GOLDMAN.large.prod_affiliate.91.jpg

This is an another great piece on Moody's

http://www.mcclatchydc.com/homepage/story/77244.html