Goldman Sachs has received a subpoena from the office of the Manhattan District Attorney, which is investigating the investment bank's role in the financial crisis.
NYT via Yahoo!
The inquiry stems from a 650-page Senate report from the Permanent Subcommittee on Investigations that found Goldman had "misled" its clients about mortgage-linked securities. Senator Carl Levin, the Democrat of Michigan, who headed up the Congressional inquiry, had sent his findings to the Justice Department to figure out whether executives broke the law.
About time. Good new, and congratulations to Senator Levin.
Shares of Goldman Sachs are down 2% today. The Market views this as real news.