In Defense of Goldman SachsBy Tom Granahan FOXBusiness Wednesday, April 21, 2010 **SNIP** Fraud? Really? The problem with all of this made-for-the-headlines chicanery is that it masks the true problems. For instance, also listed in the sales document that one assumes will be used as Exhibit A in the SEC’s case is a bevy of financial instruments with investment-grade credit ratings. Rather than knowing whether there was a hedge fund betting against the portfolio, I think investors in Goldman’s ABACUS product would have preferred to have known that the rating agencies were not just asleep at the wheel, but unconscious....