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What say you?
You are currently browsing comments. If you would like to return to the full story, you can read the full entry here: “SEC Charges Goldman Sachs with Fraud”.
[...] Carol at No Sheeples has a message for Barry! Pat is sick over Obamunism. Paco has a question for an especially irritating Douchbagger from Tennessee. Dan Riehl points out that Mayor Nanny is still an enemy of liberty. Charlie Crist? Turncoat! Lindsey Graham? Jimmie is trying to like the guy, but……. Is Moe Lane a douchebag? Russ wonders. The Classic Liberal looks at fraud [...]
Goldman will settle for chump change ($400-$500M) and move on from this.
The charges are pretty spurious from what I can tell. Unfortunately the media is blustering away and only providing about 15% of the story which kind of distorts the real picture.
I'm not saying GS is innocent (pretty hard to say that when one SVP is packaging stuff he thinks will provide a return and another trader somewhere else in the bank is betting against the same securities), but you need a huge powerpoint and about a half hour to explain this to mom and pop watching the Nightly News. After about 10 minutes, they'd be glazed over and have no clue about what you were explaining.
If only Senators who promise the moon during floor debate could be sued for deceiving their shareholders as easily as CEOs who say the same thing! Barney Frank would get *nailed*!
To anyone in DC who points the finger at fat cats: Pot. Kettle. Black.
Bingo! Besides, they're all in it together.