Senator Carl Levin (D-MI) gave every reporter and blogger an excuse to use four-letter words in headlines today when he confronted Goldman Sachs executives with emails focused on pushing what they admitted at the time was a “shitty deal.”

The deal referred to by Sen. Levin related to a fund called Timberwolf, which  plummeted in value 80% within months of being issued. Although internal emails correctly identify the fund as “shitty,” Goldman Sachs execs told sales personnel that sales of the fund were a “top priority.” Timberwolf was what is known as a ”collateralized debt obligation” (CDO)- an investment rooted “not on actual home mortgage bonds but instead on those bonds’ movements.”

In the clip below, Sen. Levin grills former Goldman mortgage head Daniel Sparks on his admission that Timberwolf was shitty and that Goldman intentionally lead investors to purchase the “shitty” investment. Which, we should add, is pretty shitty in and of itself. Levin says:

“You knew it was a shitty deal and that’s what your e-mails show. How much of this shitty deal did you continue to sell to your clients?”

As you can see in the video, Sparks attempts continually to dodge the question and is reticent to repeat the term back to Levin.

Video: Sen. Levin berates Goldman execs for ‘shitty deal’ is a post from: The Inquisitr

The O.J. Sentencing

A judge delivered O.J. Simpson’s sentencing Friday, saying the crime “was much more than stupidity.” Simpson, now 61, had claimed he was only trying to get back memorabilia and didn’t intend to steal anything. He reportedly cried as he delivered an emotional statement, claiming he was “sorry and confused.”

No Bail

Simpson will not be allowed to post bail in the time allotted for a potential appeal — and his lawyers have already indicated they do plan to appeal.

Conviction Connection

O.J. Simpson had been convicted exactly 13 years after being acquitted in the murders of his ex-wife, Nicole Brown Simpson, and friend Ron Goldman. This time around, a Las Vegas jury found Simpson guilty of barging into a room with five other men at the Palace Station hotel and taking expensive memorabilia at gunpoint. He was convicted on 12 separate charges centered on kidnapping and armed robbery.

Concurrent Sentences

The judge issued a series of concurrent and consecutive sentences, which is why the exact amount of jail time is not a firm number. Simpson could become eligible for parole after nine years but could end up serving as long as 33 years total. The judge insisted her decision was completely unrelated to Simpson’s acquittal in the murders of Nicole Brown Simpson and Ron Goldman.

O.J. Simpson Sentencing: Juice Gets Jail is a post from: The Inquisitr