Actually, I think it has more to do with intolerance of fraud and crony capitalism. I suppose GS is exempt from a fiduciary duty of full disclosure? Enron executives went to prison for the same kind of bs.
Repeating fancy words does not give this sentence any more meaning that it already lacks. Disclosure of what? When you sell a security --- for example, your house or car --- you have no duty to the buyer to disclose WHY you are selling it. Every time you sell a stock in a company or mutual fund, you obviously think that it has no future and is worse than cash. Your buyer clearly disagrees. Only one of you makes a correct guess, only one loses and only one wins. You have no duty whatever to explain to the buyer your rational.
"Enron executives went to prison for the same kind of bs."
Not at all: they went to prison for fraud.
You appear not to know how these entities function and yet throw around heavy accusations. Moreover, I already mentioned in my previous post how incorrect it is to think of Goldman as a single entity:
:Moreover, GS is not a single monolith; it consists of largely independent divisions. Those at GS that were structuring and selling securities have no contact with those that were trading on the company account."
In fact, it is government regulations that prohibit traders from interacting with research units.
It never ceases to amaze me how many people on FR fancy themselves conservatives althogh they have swallowed entire the Left's party line in the area of economics.