Naked Capitalism Link of the Day

From Friday: The People vs. Goldman Sachs, by Matt Taibbi:

They weren't murderers or anything; they had merely stolen more money than most people can rationally conceive of, from their own customers, in a few blinks of an eye. But then they went one step further. They came to Washington, took an oath before Congress, and lied about it.
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.

It is a very interesting read, although Taibbi is known to go to some extremes (even though I agree with him, some people think the vampire squid is an overstatement).  It is clear that Goldman knew they were selling shit to their clients, and yet they sold them anyway.  Somebody should go to jail.