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Just saw that. In short, yes. No securities firm has EVER survived indictment for criminal charges - I'd be shocked if GS were the first. It doesn't (yet) seem likely that they'll be charged with anything criminal (and any political pressure to charge them would undoubtedly backfire in a major way), but if they're charged, that will likely be the end of Goldman (and cleaning that one up will be a ton of fun).
What are you saying? Yes, they are in trouble, but doesn't seem likely they will be charged with anything criminal. But if they are, it's the end of Goldman. And why would a mistake on certain deals within a certain dept bring down the entire organization?
Goldman rules the world. It's not gonna happen.
Seems to me you managed to understand what I was saying...
If Goldman made mistakes that are judged by the US Justice Dep't to be worthy of pursuing criminal charges, yes, it will bring down the entire organization. It's extremely doubtful it will get that far, both because it doesn't seem like the Justice Dep't has a case yet, and because GS will be desperate to settle.
For a quick rundown on what criminal charges do to a firm, take a gander at:
http://en.wikipedia.org/wiki/E.F._Hutton http://en.wikipedia.org/wiki/Drexel_Burnham_Lambert http://en.wikipedia.org/wiki/Arthur_Andersen
well I guess the question now is whether the justice department will be able to charge them with anything. on the surface it seems that the SEC case was going no where, so they handed it off to the justice department to see if they could catch them in anything. this is almost comical, since I don't believe goldman is any more unethical than the other banks.
yea...i doubt they will find anything criminal against GS...nonetheless, their stock's TANKING again.
Goldman = Illuminati
The news about SEC fraud charges and criminal charges are all a farse to lower the stock price. GS's political friends will jump in and buy millions at $150 and retire in 6 months after charges are dropped and it goes to >$250.
Mostly joking... but not really :)
I don't think some people here realize the implications if GS goes down... MS, CS, and all the other top banks will be next on the hit list. This isn't good for anyone who has a career or wants a career in banking
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