Now, Criminal Probe Against Goldman Sachs

#1

Post by sree_nair » Fri, Apr 30, 2010, 3:26 PM UTC

Now, Criminal Probe Against Goldman Sachs

Now, Criminal Probe Against Goldman Sachs
reuters.com

Re: Now, Criminal Probe Against Goldman Sachs

#2

Post by hoop » Fri, Apr 30, 2010, 3:36 PM UTC

This will carry on until the elections, I don't think we'll see much come out of it (and we shouldn't)

Re: Now, Criminal Probe Against Goldman Sachs

#3

Post by hga » Fri, Apr 30, 2010, 4:58 PM UTC

hoop wrote: post #2

This will carry on until the elections, I don't think we'll see much come out of it (and we shouldn't)

Very possibly not past the final vote on the financial/Internet (FTC)/lots of other stuff in 1,300??? pages bill.

Goldman is a big primary dealer in Treasury securities. As long as Team Obama is borrowing a new 1.5 trillion a year and rolling over a half trillion in short maturity debt every month, they're not going to roil this market by executing Goldman (an indictment for a firm like Goldman is an instant death sentence, see Arthur Anderson, the shell of which eventually won).

Well, unless they're really stupid. Bill Clinton sure didn't like being constrained by the bond market, but he accepted reality.