It’s interesting GS has gone down the toilet in terms of looking out for clients since it went public in 1999. When the executives have no real long term skin in the game, before when GS was a partnership the suits had to put their own money in the company, the treat clients like dirt since they only care about cashing out on their stock options ASAP.
Meanwhile, in other news :
FROM THE WALL STREET JOURNAL
U.S. Sues Three Firms, Fines Goldman Unit Over Customer Funds
http://online.wsj.com/article/SB10001424052702304450004577279721489229292.html
EXCERPT:
U.S. regulators sued three firms and fined a unit of Goldman Sachs Group Inc. over alleged missteps in the oversight and handling of customer accounts, an issue that has been the subject of intense scrutiny since the collapse of MF Global Holdings Ltd. last fall.
The cases appear to be the strongest signal yet that the Commodity Futures Trading Commission is taking more-vigilant steps to guard customer funds. The agency has been criticized in several quarters for lack of supervision ahead of MF Global’s collapse in October.