Goldman Sachs to pay for their crimes?

Hey ya'll, is this for real? It's msnbc , so it's real in terms of being an event on this earth. But is this really Goldman Sachs being held accountable?

Here's the link

www.msnbc.msn.com...


Are these people going to pay, or is this just another part of the dog and pony show that the masses are told to create an illusion?

"The Securities and Exchange Commission announced Friday civil fraud charges against the Wall Street powerhouse and one of its vice presidents. The agency alleges Goldman failed to disclose that one of its clients helped create — and then bet against — subprime mortgage securities that Goldman sold to investors"


from link in the OP

Uh Yep...

Stocks tumble as Goldman charged with civil fraud
hosted2.ap.org...

NEW YORK (AP) — Financial shares led the stock market sharply lower Friday after federal regulators filed civil fraud charges against Goldman Sachs over its dealings in the subprime mortgage market.

The Dow Jones industrial average dropped almost 150 points. It fell back below 11,000 in afternoon trading after closing above that level Monday for the first time in more than 18 months.

Analysts say the market was poised to fall after a steady run of gains the past two months, and the Goldman Sachs news gave investors a reason to sell and take some profits.

"Basically it's sell, and ask questions later," said Quincy Krosby, market strategist at Prudential Financial. "A market that wants to sell off will find an excuse."

Stocks were already lower before news of the Securities and Exchange Commission's charges against the leading investment bank. Investors were disappointed after Google reported earnings that didn't live up to forecasts.

General Electric Co. and Bank of America Corp. also reported profits that topped forecasts, but their stocks still fell. GE's revenue came up short of expectations, while Bank of America said loan losses remain high.

The SEC charged Goldman and one of its vice presidents with failing to disclose key information to investors regarding complex mortgage-backed securities.

"It's all a knee-jerk reaction to Goldman," Steven Goldman, chief market strategist, Weeden & Co., said of the market's tumble. Weeden's Goldman said the fundamentals of the market have not changed even though Goldman Sachs is facing civil charges.

It's About Damn Time (Goldman)
market-ticker.org...

[edit on 4/16/2010 by Hx3_1963]

there is already a 3 page thread about this on ATS

www.abovetopsecret.com...



[edit on 16-4-2010 by boondock-saint]

Originally posted by boondock-saint
there is already a 3 page thread about this on ATS

www.abovetopsecret.com...



[edit on 16-4-2010 by boondock-saint]

Maxmars beat me to the article, but he/she didn't ask if it was all just a rouse ...This might not go anywhere at all once it goes to court.
That's what concerns me.
How many people on that thread have considered the possibility of this coming to a sudden, and terrible, grinding halt I wonder?

It wasn't a major theme on the first page. I will go back and read some more replies.

Originally posted by dragonsmusic
Are these people going to pay, or is this just another part of the dog and pony show that the masses are told to create an illusion?

One or two people might "pay".
Real payback would be a federal seizure of all of Goldman's assets.

Originally posted by Schaden

Originally posted by dragonsmusic
Are these people going to pay, or is this just another part of the dog and pony show that the masses are told to create an illusion?

One or two people might "pay".
Real payback would be a federal seizure of all of Goldman's assets.

Indeed. Unfortunately I think you are right.