Goldman email "Utopia: I Think I Found A White Elephant, Flying Pig & Unicorn All At Once"

Matt Taibbi of the Rolling Stone magazine sports in his blog a CNN video about a new investigation by New York State Attorney General Eric Schneiderman. The investigation is focused on the pre-crisis mortgage securitization process of Morgan Stanley, Bank of America, und Goldman Sachs. The quote in the title was written by a Goldmanite when finding an idiot/sucker to buy USD 100 millions their toxic CDO "Timberwolf" in 2007 and is mentioned in US senator Levin's report. The problem is not that we wouldn't know about the causes of the banking crisis, but that there is enough evidence around to get Wall Street banks for scheming fraud which in turn will drown them  in massive liabilities. Goldman's stock plunged 7% in the last few days only.

Taibbi's blog just rocks although he seems to be obsessed by Goldman! For a less funny but more serious coverage of the issue read the the FT article.