Do you know Goldman contributed over a million dollars to the Obama campaign and is a supporter of his financial reform. No wonder they were taken by surprise by this. I predict they will get off with a slap on the wrist and a small fine. The whole purpose of this action and its timing was to help promote the financial reform bill.
Obama’s standard operating practice is to first demonize someone or some entity and then use that as an excuse to impose draconian new legislation.
Thus Obama’s indictment of Goldman Sachs is right out of the Hitler playbook of burning down the Reichstag.
Fascists, whether Nazi or Islamo, act the same.
Quote under Comments: "If you read the SEC claim in full, you can see that this absolutely stinks. I would not want to be Fabrice Tourre, who incriminating emails are plastered throughout it.
" "Having said that, I don't think it is an area of law which lends itself to a clear prosecution. A large fine and censure will be the end result." [End]
Excerpt from UK watchdog story; "The SEC complaint is related to a single transaction in 2007 and involves a highly particularised set of alleged facts. It would not appear to have broad ramifications for the CDO market generally," the bank said."
"Goldman believes the charges are politically motivated and come at a time when President Barack Obama is trying to force through legislative changes to clean up the US banking industry.
Obama & Rahm E. raised more money from financial services players than any previous presidential candidate.
You are on to something here. After all it is the Chicago Way.