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i didn't imagine that the case would be straightforward and was a little surprised to see the sec---and by extension the administration--play this is such a narrow manner. i think, however, that things may soon take a turn if germany and, as of this afternoon, the uk get on board with going after goldman on their own.
i'm not a lawyer, but what would be the forum in which germany, say, would file suit (or criminal charges) against goldman?
intuitively it seems to me that the way derivatives were traded, the speed with which they moved, the lack of transparency, etc.---and the transnational character of the markets for them---all militate for some transnational regulation, which would require international institutions/law that would be able to prosecute such. at this point, i've been researching the international court and a few other institutions in the context of my day gig, but haven't got a sense of whether that would be a venue, the wto would be one, or if the venue that would (in theory) be in a position to become a platform for transnational regulation of capital had yet to be elaborated.
i suspect that germany (again for example) could file suit in either us or german courts...
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a gramophone its corrugated trumpet silver handle
spinning dog. such faithfulness it hear
it make you sick.
-kamau brathwaite
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