Comments on: SEC finally lights fire under Goldman smoke

By: rdberg1957

rdberg1957 — Sun, 18 Apr 2010 17:14:36 +0000

From reports on NPR, I believe that a civil action is the place that opens the door to multiple criminal prosecutions. To achieve beyond a reasonable doubt, one must gain through discovery the preponderance of the evidence.

By: breezinthru

breezinthru — Sun, 18 Apr 2010 02:58:28 +0000

We cannot allow GS to skate by on a Congressional scolding and a class action civil suit.

If crimes were committed in the process of bringing down the largest economy in the world, then the punishment should fit the immensity of the crime.

Considering the harm wrought upon America by the parties taking wild profits with NINA loans, derivatives, CDO’s, credit default swaps, etc., I believe that the judicial branch of government should look into Treason charges.

By: neonderthal

neonderthal — Sun, 18 Apr 2010 02:24:24 +0000

notice how the business media is more upset than GS about the charges.

By: ARJTurgot

ARJTurgot — Sat, 17 Apr 2010 05:25:11 +0000

This should be fun. I suspect the timing, and the narrow focus, but the message is unmistakable. Any banking industry lobbyist is going to have to do some explaining first, any data they cite will be suspect. The Obamists are learning, they aren’t giving the (R)s room on the populist side of the issue. Teabaggers are going to have to oppose government regulation in the face of criminal evidence.

The Feds have deep resources, and lots of time. If they refuse to let Goldman settle, they will create a boilerplate template for class action cases complete with supporting evidence for the owners of those $1 Billion Paulson related losses.

By: TFD

TFD — Sat, 17 Apr 2010 05:07:39 +0000

I know someone who is not going to getting a lot of sleep this weekend…

Tim Geithner?

Wink, wink, nudge nudge, say no more!

By: JJWest

JJWest — Sat, 17 Apr 2010 05:06:15 +0000

……… “one” of its employees?? Come on, you think one guy dreamed up this massive international fraud?? Its about time the SEC moved against the people who have hurt countries all over the world while pocketed massive profits overnight. Without investigation and prosecution the SEC and indeed the USA itself has no credibility.

By: avgprsn

avgprsn — Sat, 17 Apr 2010 02:29:38 +0000

Is it wise to go after the one on top when today’s news just reported eight more banks were taken over by the Fed? -> With the peek of this trend not likely until third quarter of this year?
There’s alot of renewed confidence very early for this in actuality, tight rope act of balancing.

By: PapaDisco

PapaDisco — Fri, 16 Apr 2010 21:23:16 +0000

Exoneration? Don’t bet against Goldman. That firm more than any other enjoyed a very privileged position throughout the crisis in both regulatory matters and in the distribution of bailout money. Their ability to manipulate the wheels of government and regulators for their own benefit is significant, sad to say.

The financial world would certainly be better off without synthetic financial products. If an investor owns an underlying bond and wants a CDS to go with it that’s one thing, but managers buying these instruments without the underlying asset are just gambling, and doing so with much greater influence on the price of the affected asset than the asset and issuer itself.

By: getsthegrease

getsthegrease — Fri, 16 Apr 2010 20:43:17 +0000

The banking and investment industry have congress and the senate by the short hairs, if not in direct collusion. GS will eventually find a sacrificial lamb to burn and then it’s business as usual.

By: HBC

HBC — Fri, 16 Apr 2010 19:41:57 +0000

The SEC didn’t light the fire, but pinpointed one of its locations. The arsonists and their accomplices are still at large, blowing even more smoke in the face of would-be honest investors, but not for much longer.

If I were you, I wouldn’t take a bet on exoneration anytime soon.