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.
I did not know this case was based on a single transaction...have to admit the timing of it all looks kind of fishy to me.