I am going to go out on a further limb. If the uptick rule were in place, GS would have triggered long ago, with people buying puts on GS like there was no tomorrow. Do we really want an uptick rule on crooks?
I am thinking overseas crooks, where they are not under the auspices of the SEC (which appears no longer to be a paper tiger.)
The public is going to lap this up. Now remember Goldman reports there earnings next Tuesday, Iâm sure this is all been thought thru, and they will reverse the stock come Tuesday.
Good point. SEC should be going after others as well. The criteria appears to be this "defrauding investors by misstating and omitting key facts about a financial product tied to subprime mortgages" I'm sure they can charge many more
Com on, we all know what will happen. GS will pay some large fine 300-500 mil (large in the eyes of a public, rather small in their terms). If convicted they will issue the apology and maybe 1 or 2 people will go to jail. Just a small cost of doing the business.
Perhaps, since "everyone was doing it" the SEC charges the biggest and the best, GS takes all the heat, sort of like a class action SEC vs GS (WS practices) GS wins SEC doesn't charge anyone else with fraud for these practices. Maybe GS has more defensible defense rather than the others WS cos.
The difference between people committing fraud and crimes and corporation doing the same. If a person offers to settle the charges in the form of any type of payment it would be a bribe. Corporations can pay fines/bribes and continue on with there merry ways...