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Goldman charged by SEC - Political?

Discussion in 'Politics (deprecated)' started by atbell, Apr 28, 2010.

  1. atbell

    atbell TRIBE Member

    Way to busy these days, I wish I could write more of an opinion piece on this but as I tend to really get into those I'm just putting up a bit of what i've found.

    Here are some links to Financial Times coverage of the case:

    FT.com / Companies / Banks - Goldman denies ?bets against clients?

    FT.com / Companies / Banks - Goldman?s aura of invincibility weakens

    Goldman accused of subprime fraud
    FT.com / Companies / Banks - Goldman accused of subprime fraud

    Goldman profited on shorts
    FT.com / Companies / Banks - Goldman profited on shorts

    Goldman releases internal paper trail
    FT.com / Companies / Banks - Goldman releases internal paper trail

    But here's the technical gold, the actual SEC public releases in the Goldman case:

    Goldman, Sachs & Co. and Fabrice Tourre


    From the quick glance I've taken at all but the SEC stuff, GS looks to be on the moral and legal high ground. If I had access to some of the case documents I might change that opinion but ... well, I don't expect that to happen.

    There is also a bit of a sub issue which has politicians using GS as an easy target to hang in order to gain populus cred.

    At the end of the day I find this hard to come around to, despite my ire with 'investing' as it has been practiced of late.

    GS lost money in most of the cases in question. Does this mean they are being charged because they didn't loose as much as everyone else?

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