GS: Will Blankfein End Up In the Dock?

What to make of today's news that the Manhattan district attorney’s office has issued a subpoena to Goldman Sachs relating to its activities in the market for subprime securities? In one sense, it comes as no surprise. Back in April, the Senate's Permanent Subcommittee on Investigations issued a blistering report about Wall Street's role in the credit crisis, claiming to have unearthed a financial snake pit rife with greed, conflicts of interest, and wrongdoing. Those were the words of Carl Levin, the Michigan Democrat, who forwarded his six-hundred-page report to the Justice Department with the recommendation that it look into prosecuting Lloyd Blankfein and other Goldman bigwigs.