LOL... Nitro, can you name a time that there was not any crooks in the market. The game has always had crooks, it is the nature of markets. Just be happy that the volatility is back, easy money.
The federal Gov't typically won't bring charges unless they have enough evidence for close to a 100% chance of winning. GS is in serious trouble. Just my two cents.
This is a beautiful statement and potentially a nail in their coffin so to speak probably made in a panic without approval from legal. This statement was made to all shareholders and the general public without any safe harbor disclosures. All investors may rely on this representation and invest with confidence in Goldman Sachs... If later it is found that this statement was not true then everyone has the right to sue Goldman Sachs and Lucas van Praag and Dane Homes in their individual capacity for fraudulent and misleading statements made to induce or continue on with investments in Goldman Sachs. Goldman Sachs Responds to SEC Complaint April 16, 2010 New York, NY, April 16, 2010 -- The Goldman Sachs Group, Inc. (NYSE: GS) responds to a complaint filed by the SEC today. The SECâs charges are completely unfounded in law and fact and we will vigorously contest them and defend the firm and its reputation. The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world. Media Contact: Lucas van Praag Tel: 212-902-5400 Investor Contact: Dane Holmes Tel: 212-902-0300
Looks like the greatest trade ever was being a GS client, both sides will win after they pay their money back
The response from some of my friends who are calling me is, the timing of this smells political. Perhaps, but what does it matter? So, we know markets are full of crooks, and Washington is full of people with agendas? Then we have the pundits on TV that this is just a blip and that we need to worry about the long term. I have one word for them, ROME.
Why would you say that? If GS as a firm is guilty, it should hang. If it is an employee and not firm wide, it is a whole different matter.