U.S. DOJ Investigating Goldman & 27 Trillion Dollar Credit Default Swap Market

Discussion in 'Wall St. News' started by ByLoSellHi, Aug 5, 2009.

  1. Illum


    If any of these slugs wana get re-elected it is possible.
  2. If you actually READ THE ARTICLE, it's not just about Goldman.

    The DOJ "inquiry" is centered around Markit Group Ltd., which is a London based data provider. Goldman, BofA, And Royal Bank of Scotland are shareholders in Markit.
  3. "The U.S. Justice Department last month confirmed it was investigating the $27 trillion market for trading credit default swaps. The Department is trying to determine whether the banks that own Markit Group Ltd., a London-based data provider, received advantages as owners and providers of prices and trading patterns for the contracts, according to two people familiar with the matter.

    Goldman Sachs is one of the shareholders in Markit, along with New York-based JPMorgan Chase & Co., Bank of America Corp. of Charlotte, North Carolina, and Edinburgh’s Royal Bank of Scotland Group Plc, filings show. "

    Selling you the gold and the shovels.
  4. This could be big.
  5. S2007S


    This news will be forgotten as GS climbs to $200+

    It doesn't matter what they do, the average investor and people of this country could care less whats going on with goldman or any other bank, the government is propping them up and doing so successfully. If no one paid any attention to all the programs the government created to prop up this failing economy then why should they even care about this story.
  6. Oh, I know, but Goldman puts the "sexy" in it.

    And we're all about sexy.
  7. At any other time, I'd be inclined to agree, but not this year.

    I think even average people are boiling, raging mad, and they've identified Goldman as one of the symbols of the corruption they perceive is degrading their living standards.
  8. Especially of interest is Markit's quote system....and yes, unfortunately all these friendly neighborhood banks are shareholders...Markit is owned by 15 large banks, four hedge funds and company employees.
  9. Back on track now thanks S2007S I need just one confirmation a week that BULLS are complete idiots and you just gave that to me!
    #10     Aug 6, 2009