Paul’s Life One Post At A Time.

Details are scant, but "according to people familiar with the matter" - according to The Wall Street Journal - a Senate panel has subpoenaed financial institutions including Goldman and Deutsche Bank looking for evidence of fraud in the "mortgage-market meltdown."  In other words, they are looking for internal documents that show bankers were publicly confident about securities they privately said were unstable. 

Goldman, Deutsche Bank and J.P. Morgan have so far not commented on whether or not they received subpoenas.

The problem is, what does it say about our financial experts if they didn't see the meltdown coming. Either way the result shouldn't make any us feel good.