Goldman Sachs Accused of Fraud

[Chris Fleming]

http://finance.yahoo.com/news/SEC-accus ... 2.html?x=0



Just thinking out loud here....I wonder how far the fraud goes and why is this being brought out now? How come there are no criminal charges? Considering that there are Goldman execs in positions in the government and on the board of the SEC, this strikes me as a smoke screen to continue various other types of fraud in the market while throwing the public a bone by allowing some scandal to be "investigated". Interesting that this article says investors only lost 1 billion. There was a lot more lost than that. In any case, the people in power (Hank Paulson) who sold these derivatives right before the crisis knew what they were doing and should go to jail. This is probably just a political point to be made to the people, a gesture to show that the gov is doing something. Meanwhile the company will continue to make millions of dollars per DAY and get a slap on the wrist. If you or I did that in a business we would be raided and shut down.

[qiphlow]

http://www.rollingstone.com/politics/story/29127316/the_great_american_bubble_machine

http://www.rollingstone.com/politics/story/26793903/the_big_takeover

matt taibbi has written a couple of good stories about goldman sachs and what assholes they are. but you're probably right about the "investigation." some low-level dude will get shafted and the company will go on...