You're far too ignorant to be allowed access to the interwebs. 130 next stop. Blankfein will be gone.
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SEC charges GS with fraud
- Thread starter nitro
- Start date
You're far too ignorant to be allowed access to the interwebs. 130 next stop. Blankfein will be gone.
Paulson structured the CDO. Had no investment in the CDO. The CDO was sold to clients, and Paulson shorted it through a default swap.
If there is a clearer (current) case of corporate fraud and violation of fiduciary duty, I'd sure like to see it.
If there is a clearer (current) case of corporate fraud and violation of fiduciary duty, I'd sure like to see it.
Unreal.
As an avid cheerleader for the demise of this scum company i cant help but put my 2 cents in here. For all of you who think this is just a show and a fine will be paid and 1 or 2 will go to jail i have to ask, " which 2 will be going to jail and how is that no big deal? What should the SEC do just short the stock and sell it down to $0.00, who is going to buy this stock if the government isn't propping it up anymore ? The general public and the world will dump this stock and any fund that gs has anything to do with. Be tired of this kind of business .
GS told investors to buy all while they were selling. The governement might just be done moving the market through gs and now GS is left just where they were before all this started except now widely recognized as a bunch of scum! Bear Stearns looks better than them today.
GS told investors to buy all while they were selling. The governement might just be done moving the market through gs and now GS is left just where they were before all this started except now widely recognized as a bunch of scum! Bear Stearns looks better than them today.
THIS IS HUGE. who's the brave guy from the sec?
Looks like the Dow's hovering at the 11000 level.
Looks like the Dow's hovering at the 11000 level.
Lol, major systemic fraud at the largest financial company in the world and it's only down 12%. That's not even close to it's lows just a couple months ago.
This will amount to a slap on the wrist, with lots of saber rattling and chest thumping by our gov't watchdogs who get to cry "justice always prevails!".
A company like GS has very smart, very well paid people to compute the numbers in code like this:
if (Transaction.ProfitFromCrime > Transaction.MaxPotentialFine)
{
MakePoliticalContribution();
HighPlaces.Insert(Friends);
Transaction.Execute();
}
This will amount to a slap on the wrist, with lots of saber rattling and chest thumping by our gov't watchdogs who get to cry "justice always prevails!".
A company like GS has very smart, very well paid people to compute the numbers in code like this:
if (Transaction.ProfitFromCrime > Transaction.MaxPotentialFine)
{
MakePoliticalContribution();
HighPlaces.Insert(Friends);
Transaction.Execute();
}
where's asiaprop? should be entertaining to see him defend Goldman,
ASIAPROP WHERE ARE U?
ASIAPROP WHERE ARE U?
If GS is so talented why are they having so many issues the last couple of years? The government is letting them fend for themselves. If the SEC lets GS in on this than it will be reported that the SEC is doing that. There are some employees left in this world who are not total scum bags without ethics. The possibility of getting caught is enough to deter, contrary to poular opinion if jail is ok why arent we all going!
Quote from RedDuke:
Com on, we all know what will happen.
GS will pay some large fine 300-500 mil (large in the eyes of a public, rather small in their terms). If convicted they will issue the apology and maybe 1 or 2 people will go to jail.
Just a small cost of doing the business.
Do not underestimate the cost of "reputation" reduction. It would seem quite rational that any fine will pale in comparison to lost counter-party/transaction business from here on out. Why would a pension fund administrator continue to trust such an entity at this juncture?