SEC charges GS with fraud

Quote from nitro:

Bigger Story of Insider Trading

"...However, a much bigger story yesterday slipped under the media's radar -- Goldman director Rajat Gupta is being probed on whether he collaborated with hedge fund Galleon Holdings, whose manager has been indicted on insider trading charges...."

http://www.dailyfinance.com/story/i...-story-insider-tips-from-a-director/19443812/
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I saw that the other day, I'll bet the fuckers guilty as hell. Anybody who has anything to do with the UN is a crook.
 
Quote from nutmeg:

It's a civil fraud charge. 3-2 vote by the most incompetent agency the regulators could assemble. Do you blame them? Our media is not exactly fair and balanced.
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I'd like to add, the media would love to assign a cross, currently no one person, politician or company is culpable. If only .......we could put a name and a face on this crisis our problems will be over.

Art Andersen was the Enron cross, how'd that work out?
 
Quote from nutmeg:

"... If only .......we could put a name and a face on this crisis our problems will be over.
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Lots of folks say "GWB"... all his fault. That right?
 
Quote from Scataphagos:

Lots of folks say "GWB"... all his fault. That right?
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:D lol.

That was my first thought, but Obama is too slick to use that one again. He needs something new and fresh.
 
There has been a foul odor eminating from the IBs for a decade. Lehman and Bear gone. It is about time the SEC got around to GS. Wait for the court case before making a judgement, because you never know.....................
 
First, GS is not GOD, they had no clue as to where the housing market was going, NOT A CLUE...NOBODY knew where it was going. Not even Paulson, he suspected trouble but he did not know for sure.
Secondly, GS WAS NOT A FINANCIAL ADVISER for those who lost money on that deal. GS was merely providing a way for these clients to long or short the market.
The securities within the portfolio was chosen and approved by ACA Management not Paulson, he merely provided a list and ACA even rejected a few. Those securities had to meet ACA standard before they could be added, independent of GS and Paulson.

ABACUS 2007-AC1 did not perform poorly because of the portfolio selection, it performed poorly because the housing market Collapse. How does that equates to fraud? GS lost millions on this deal. I thought that in cases of fraud there is usually some financial gain by the party who is committing the fraud.

At most, it’s a failure to disclose. Hence the reason why this case is just a civil case, and I doubt it will go much further than that.


This is nothing more than a political stunt, A POLITICAL STUNT by Obama with his socialist agenda. Another attempt to use Wall Street as an scapegoat.
 
Quote from rcaldwell:

There has been a foul odor eminating from the IBs for a decade. Lehman and Bear gone. It is about time the SEC got around to GS. Wait for the court case before making a judgement, because you never know.....................
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the ordorl started when salomon went from a partnership to a public company and they all followed. That's when they shifted the risk from the partners to the shareholders and eventually the tax payer....that's the beggining of the end... 1980's..
 
this whole SEC charges GS is smelling of just another smoke screen, dimes to dollars the charges get drooped.. these guys are all working on something much bigger
 
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