The People vs. The Vampire Squid

Matt Taibbi, who seems to be the only journalist still pounding the 2008 economic collapse beat, lays out the case for federal prosecutions against Goldman Sachs, according to Sen. Carl Levin’s Senate Subcommittee on Investigations (Wall Street and the Financial Crisis: Anatomy of a Financial Collapse 650 page pdf).

Thanks to an extraordinary investigative effort by a Senate subcommittee that unilaterally decided to take up the burden the criminal justice system has repeatedly refused to shoulder, we now know exactly what Goldman Sachs executives like Lloyd Blankfein and Daniel Sparks lied about. We know exactly how they and other top Goldman executives, including David Viniar and Thomas Montag, defrauded their clients. America has been waiting for a case to bring against Wall Street. Here it is, and the evidence has been gift-wrapped and left at the doorstep of federal prosecutors, evidence that doesn’t leave much doubt: Goldman Sachs should stand trial.

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