April 15th, 2011
12:14 AM ET

KTH: Goldman Sachs under fire

Editor's note: Anderson Cooper reports on the dealings of Goldman Sachs at issue in a recent congressional report.

Related on CNNMoney.com: Goldman blasted for conflicts of interest

soundoff (9 Responses)
  1. Lisa s

    What are the chances that Goldman will be charged with a crime?

    April 15, 2011 at 9:05 pm |
  2. Lisa s

    Anderson, I having been watching this story for a long time. I applaud Mike Taibbi and Elliot Spitzer. This is the biggest fraud ever perpetuated on the American people. The only thing you didn't mention is that Carl Levin's report had b-partisan backing. Tom Coburn backed this report also. If both side agree in this partisan era you know it's really bad.

    April 15, 2011 at 8:35 pm |
  3. JC-Los Angeles

    California was the epicenter of the morally bankrupt, culturally corrupt, cesspool known as the mortgage fraud industry.

    Since the second plane hit on 9/11, our nation was led into the abyss by an octogenarian, a president and countless thieves.

    With The Oracle of Omaha going all in on Goldman Sachs who went all in on AIG, isn't it time to start holding people accountable and questioning their real abilities?

    April 15, 2011 at 8:04 pm |
  4. Paula

    How much do the Exec's get in salary and bonus? More than the #1 individual running this country!!! Major Political backers who think they are above the law. They need to be charged for the misconduct and put away for a long long time so they can't continue to rape this country. How much did they get in bailout money that taxpayers are paying for?
    This country was not built on GREED, let's get back to basics starting with these individuals. Taxpayers are tired of supporting those corrupt individuals and corporations in this country and our Government needs to stop supporting them.

    April 15, 2011 at 11:54 am |
  5. marc

    I was watching your show last night and have to say that your segment on Goldman Sachs was grossly inaccurate. Not because of you, but because of Elliot Spitzer. First off I was a wall street trader when he was the AG. While he never arrested any executives or had them thrown in jail. His run on wall street was to make a name for himself for his run for governor. While he did collect big fines, none of these were returned to the so called victims. They were kept by the state of NY.

    As for the SEC if you really want to investigate something look at the term "admit or deny" ti sis the term used by the Sec and Wall Street firms. When the SEC finds a firm doing something wrong they look to bring charges and fine them. in doing so they allow the statement Neither admit or deny. Well if you are doing nothing wrong then why are they paying a fine? Duh! This is figured into every deal a firm makes. Look at it this way there is a cost of doing business in every deal- so if a firm does a deal and makes a billion dollars and maybe pushes the envelope and gets caught, they nay agree to 100MM in fines, in other words a 10% cost of doing that business, would'nt you do that to keep 90%? All day, right?

    As for trading against clients-every firm does that, it has been the nature of the business since 1903, the only reason this ever comes out is when someone is trying to do something for their own personal gain. Spitzer did this in the 90's. No funds were returned to any individuals as far as I know. He also stated that he cleaned up Wall Street, well if he did, how is this going on now.

    The regulators perspective, if you keep throwing your clients in jail because Nasdaq and the NYSE all make money from these firms- how will they stay in business? Again all the more reason neither admit or deny. The regulators are poorly trained an while they may understand accounting- their operational knowledge is marginal at best.

    Anyway I just thought I would offer some insight even though it is over 15 years since I have been there, but the business is still the same.

    But please get a better source than Spitzer he was not part of the solution in the least bit.

    And if you really want to look at a ponzi scheme look at the treasury market, it raises new capital to pay off older debt every week, only difference it is the government and it is done out in the open...

    Good luck in your investigation

    April 15, 2011 at 8:30 am |
  6. chad

    The mortgage back securities were sold to people that actually knew what they were getting and thought that the reward actually outweighed the risk. These mortgage securities were not sold to the average joe on the street. Also, it's the same thing as a retail investor selling their stock on the open market in one of these "crappy banks" in early 2008 and knowing that the bank was crappy and turning around and short selling the stock in the same crappy bank the next day. Shouldn't these retail investors also be sent to jail?

    April 15, 2011 at 1:48 am |
  7. Heid Comfort

    Please follow this atrocity against the American taxpayers – Lloyd Blankfein. I cannot imaging how people like this have the gall to even show their face in public let alone believe they possess the intellect or integrity to lead ANYTHING! It is imperative that we force change in our politics and big business. Those of us in the middle cannot afford the status quo any longer!
    Please keep us informed and when possible provide actionable recommendations/avenues for us!

    April 15, 2011 at 1:34 am |
  8. Bryce Jorgensen

    On your show you asked if someone on WallStreet should be prosecuted and I believe that someone from several firms and agencies should be procescuted. In addition to others, the heads of Moody's and Standard and Poors rating agencies should be prosecuted. It is a complete conflict of interest to accept payment from from the issuers of securities to obtain favorable ratings. People who relied on these rating have lost much of thier wealth and were mislead. Please comment on this if possible thank you.

    April 15, 2011 at 1:30 am |
  9. Adam

    Tonight's show was great. This is what you should be doing more of. Hold those people that were talked about to the fire. If you want to be taken seriously this is what you will do. Keep up the god work.

    April 15, 2011 at 1:25 am |