But it wasn't that bad - this is just a way for the SEC to look like it's doing it's job and transfer some $$$$ from wall st. to the treasury. Sucks that once you get really successful this is the cost of doing business.
You guys don't seem to get it: the SEC had no case from the beginning. This is not about the SEC being pussies, it's about them filing a suit where they had no legal basis for winning. The equity transfer in this case is almost totally related to PR. GS finally got a clue and instead of destroying the SEC in court(they would have, but the bad blood/PR from it would be enormous) and making them look more incompetent, GS is paying their "fine" and moving on.
Smiles all around, even back in April after the indictment. They knew the fix was in. I believe Blankfein was saying something like: "trust me, I know how to fix this". These bald guys from Goldman are adorable when they they know they are are right.
$550 million is a weeks worth of equity trading for GS. They made more than $100 million on 35 of the 63 trading days last qtr (including ZERO down days). This bribe to the SEC was just a way to get some good PR for both the corrupt SEC and the vampire squid Goldman.
If I were you I would chop them after hours at 153 and change. I don't think you're getting 155 tomorrow at any point during the day. First of all there will be tons of sellers, everybody that loaded up in the 130's. Second it's options expiration tomorrow. My call is GS closes tomorrow below 150, just to screw a bunch of people over.
That is 100% correct. And this is what I posted at ET in April. The outcome is therefore as I expected.
radio report was that sec will get 5-300 mill and the rest will go to wronged clients,gs could get off for as little as 255 mil