"All told, they formed a "Goldman Sachs conveyor belt," the panel said, that dumped toxic mortgage securities into the bloodstream of the financial system." (
http://www.huffingtonpost.com/2010/04/29/goldman-sachs-case-sent-t_n_557884.html)
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That is the charge that will be handed over to the Justice Dept by the SEC.
If they knowingly dumped these "toxic mortgage securities" into the American financial system, that could be the basis for prosecution?
As of now, the source of this story is a "knowledgeable" person. But, if this is true, the case is no longer just a civil matter, it could be a criminal matter. The Dept of Justice will have to carefully review these charges.
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