Why Has the Government Picked On Goldman Sachs?
Goldman Sachs has been in the radar of the “guvmint” for quite some time now. They’ve appeared before congress and the senate nearly every other month since 2008, either by choice or by order of congress. The latest scam, I MEAN, circumstance is a SEC investigation into Goldman Sach’s dealings concerning the housing market.
The SEC has charged Goldman with misleading investors over Abacus, a sub-prime mortgage financial vehicle. It alleges Goldman kept investors in the dark about the $1bn mortgage deal that saw the Royal Bank of Scotland emerge as one of the biggest casualties with a loss of $840m.
However, it seems that a deal to settle out of court is afoot, to the tune of about $1B. Analysts are more conservative about the size of the potential penalties and feel the SEC may be prepared to accept something more modest in a range from $150m upwards.
If you’ve been paying attention, Goldman Sachs trading desk makes $100M by noon, daily. I’ll have to recheck my sources, but I’m sure the figure is accurate. So at the low end, $150M in a settlement or even $1B, is… to quote Warren Buffet, CHUMP CHANGE.
So why is the SEC picking on Goldman Sachs?
I’m going to go out on a limb here, and I bet if you check around, I’m not the only one that says this. They chose Goldman Sachs because the SEC is setting up a precedent to allow any bank [cough Bank of Goldman Sachs???? really?] uh… company, to get away with murder and simply settle out of court.
Everything will appear above board and on the books. But, the message is clear. They know Goldman Sachs can handle it and their message will resound loud and clear.
You have Cramer making ridiculous posts like “Goldman is going to lose to the SEC”. That in and of itself should raise red flags all over this law suit. Never, would Cramer ever turn on his buddies at Goldman. NEVER! YOU HEAR ME? NEVER! IF YOU THINK HE’D TURN ON GOLDMAN SACHS, YOU HAVE NO IDEA WHO JIM CRAMER IS. HIS PEOPLE HAVE BEEN IN THIS GAME FOR 25 YEARS. AND THOSE FIRMS ARE LOSING THEIR JOBS AND GOING OUT OF BUSINESS. BUT NOT CRAMER. IF YOU THINK CRAMER WOULD TURN ON GOLDMAN SACHS YOU’RE NUTS. YOU’RE NUTS! YOU KNOW NOTHING. NOTHING! I WATCH HIM EVERY DAY. AND, IF YOU THINK HE’S A RAT FINK AGAINST GOLDMAN SACHS, YOU KNOW NOTHING. PEOPLE ARE LOSING THEIR SHIRTS. IF YOU THINK THIS IS SOME ACADEMIC LEGAL LEGITIMATE LAW SUIT YOU HAVE NO IDEA. GOLDMAN SACHS NEEDS ITS PROFITS. YOU HAVE NO IDEA HOW BAD THEY NEED THEM. NO IDEA!
Need a Notary in Las Vegas Nevada Notary Public Nevada