It's contradicting and maybe even embarrassing to talk about it in real life, but come on in and admit it. Who in here works for GS and thinks that GS should deserve what they got by the SEC?
sure I bet you cannot talk about this at work becoz your paycheck is directly affected but in all honesty, who thinks that GS has committed a wrongdoing in terms of ethical practices?
lol i'm willing to pay 200:1 that SEC/DoJ does not win the trial. ACA had the legal obligation to select the portfolio, they did decide which GS/Thrid Party suggestions to accept. They got paid to make these decisions. And ACA they put money where their mouth was.
If ACA was an idiot and decided to include risky securities in a without doing the right level of due dilligence then I think we know who to blame.
You should get in touch with Barry Ritholtz. He is staking $1,000 on the opposite.
http://www.ritholtz.com/blog/2010/04/10-things-you-dont-know-gs-case/
Deserves what they got? What did they get? 0% interest rates, a nice bailout and an allegation? Yes, they did get what they deserved. They are doing God's work.
I meant the criminal charges by the SEC
Buy your 200:1s.
GS doesnt deserve to be singled out this way. All BB market makers did the same.
OK, first, GS will settle with the SEC (I bet in the next few days)
Second, I doubt the Justice department has a real criminal case against them. The SEC probably would win, simply because the burden of proof is lower- its more so that they did it than the JD having to prove that they did it with a malicious intent.
It seems politically motivated (timing at least) and since GS basically owns the US, I doubt anything substantial will come (other than the $35mm settlement that they will pay the SEC)
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