The SEC's Goldman Sachs fraud charge could backfire

The SEC's Goldman Sachs fraud charge could backfire

trueslant.com

While most Americans are rejoicing in the opportunity to extract a measure of revenge from Goldman Sachs – the poster boy for the greed and dirty dealing that trashed the world financial system -the government’s fraud case may be on far shakier ground than you might expect.

The decision of the Securities and Exchange Commission to move forward with the case was reached by a 3-2 vote that split among party lines. While it is easy to dismiss the vote as an expression of pure political interest, this may not be the case.

The need for the SEC to prove itself as a suitable sheriff of Wall

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Why would the SEC, publicly, go up against Goldman Sachs if they were not positive they had them. I think someone here is lying. I don't think they knew that Paulson was betting against them. I think they knew he was involved because he told them to drop 8, and they did. I think that right there shows that surely they didn't know he was giving them the worst sub-primes that there were. This case better move forward.IMHO>

trueslant.com
(visit the link for the full news article)

I believe Goldman Sachs has programs to crash the market if they want. Then they could buy at the bottom, make it rise like crazy, and crash it all over again. The average Joe investor would get wiped out twice if they invested but Goldman would make a killing. I feel like the SEC is like David versus a Goliath here. Maybe the SEC knows they don't have much of a chance of making any charges stick but see an opportunity to try and make a difference. Maybe it is timed to help in passing new financial regulations. Is there something that is not political nowadays?

If there is corruption and fraud everywhere and people in high places defending the organization, what chance does the little SEC have in obtaining factual evidence? Maybe this will become Obama and the SEC versus Goldman Sachs. If they have some evidence, Goldman may be able to threaten to crash the market a few thousand points. The financial crisis coming back in full force might make Obama and other SEC supporters back off especially with elections coming up. That is if this thing even gets that far. I believe Goldman Sachs already picked out a scapegoat to put the blame on.

[edit on 21-4-2010 by orionthehunter]

They most likely mislead, but no one has a crystal ball to see into the future. GS loses as well and more often than you would think. There is a lot more to the "evil" of this company than this situation I guess, but what I am saying is I think if you looked really hard you could nail them for much worse.

reply to post by devildogUSMC
I don't see anything coming out of this,DDUSMC the SEC have proven themselves to be cowards there will be a few headlines here and there but that's it nothing major.It's all part of the show.

reply to post by mike dangerously


I share your sentiments exactly. It will get mentioned, and the sheeple will know something happened involving GS and the SEC, and nothing will ever come of it. It's up to us, the PEOPLE, the thinking people of the United States that will decide if this becomes anything. If enough of us scream loud enough, they can't ignore us.