GS collapsing, down 9%

Lehman and Bear Stearns style. S&P downgraded from hold to sell.

They supposedly want to settle to avoid anymore embarrassment in public, but I think the SEC is now considering criminal charges. If they get subpoened on that, I can almost guarantee you are going to see a lot of “I plead the 5th to that question”.

BizBanker Wrote: ------------------------------------------------------- > They supposedly want to settle to avoid anymore > embarrassment in public, but I think the SEC is > now considering criminal charges. If they get > subpoened on that, I can almost guarantee you are > going to see a lot of “I plead the 5th to that > question”. If Justice decides to follow the leads to Goldmans computer control of pricing, contrary to free market dynamics that could be an issue. Recall they believed that ONLY THEY should have that power. Front running clients, front running echange orders through high speed trading. Dark pools must break some law or another if not handled perfectly at-arms-length, insider trading, intentional hostile fraudulent attacks on companies such as SemGroup, Fraudulently conterfeiting shares and contractsm naked shorting: It should be able to be shown that Goldman is guilty of all of these things to more or lesser degrees. And Goldman is not alone. All of the large international banks are more than likely just as guilty … at least the successful ones. I believe that ultimately it will be found that Glass-Steagall was the proper way to regulate criminal banks. Just break them us so there is as little conflict of interest as possible. A snake will always be a snake and people are susceptible to temptation… that is one of the many tests they have to go through in life.

BizBanker Wrote: ------------------------------------------------------- > They supposedly want to settle to avoid anymore > embarrassment in public, but I think the SEC is > now considering criminal charges. If they get > subpoened on that, I can almost guarantee you are > going to see a lot of “I plead the 5th to that > question”. very interesting perspective… they were very very evasive (birnbaum especially) in the earlier testimony. good entertainment and i personally think they deserve it for the paulson sub-prime stunt (but not sure they deserve it in general)