|
These charges are 99% politically motivated. I am not a fan of Goldman Sach in terms of them adding value to our economy compared to companies that make real products or provide real services. Goldman to me is like "the house" a place were high rollers go to gamble. Goldman, as "the house" always gets their cut and on every bet there is a winner and a loser. Those that engage Goldman on one side or the other are typically sophisticated investors/speculators/Etc. Goldman is generally not involved in commercial consumer transactions for the general public. What we have is our government through the SEC attempting to protect billion dollar investors from each other, while they gamble. I would rather have our government focused on real fraud and abusive practices that iare perpetrated on real regular people every day. For example today thousands of elderly people are being sold annuities with extreme high fees, in accounts with extremely high fees totally inappropriate for their needs by incompetent and or corrupt so called financial advisers.
Goldman was able to profit from the "bailout", so instead of the government admitting the "bailout" was the wrong thing to do and that they got embarrassed, they make a case where there really is no case. It simply shows that if the government has you in their cross-hairs, they are going to get you one way or the other. Goldman lost $90 million of their money on the deal and pocketed $15 million in fees, that alone should be enough to show Goldman had no intent to defraud and that there could have been an up side to the instrument in question.
__________________
"Democracy is two wolves and a sheep voting on lunch."
"It is useless for the sheep to pass resolutions on vegetarianism while the wolf is of a different opinion."
"If you live among wolves you have to act like one."
"A lady screams at the mouse but smiles at the wolf. A gentleman is a wolf who sends flowers."
|