Well our mamby pamby Gov't has done it again, selling out the little man in favor of a large corp by this $ 550 mil settlement with Investment Bank Goldman Sachs over its sub prime mtg business operation. This isn't even lunch money to Goldman, and they made so darned much more $$$$$$$$$$ from their involvement in this charade, that this settlement is downright shameful.
The fix is in as this settlement should have been billions, 1-2-3 or more, at a minimum. I wonder if there is any connection that this settlement comes one day after a meeting between the POTUS and Warren Buffet, a huge supporter of the POTUS and a huge shareholder of Goldman. Nah, they wouldn't do that to the little guy would they? I'm sure Buffet filled his ear with how terrible a huge settlement would be to the overall mkt and economy and settling this thing would be so much better for everyone, blah, blah, blah. Horse$hite. This is a travesty, once again, dammit!!!!!!!!!!
"The SEC said Goldman will pay $550 million and reform its business practices to settle charges the firm misled investors in a sub prime mortgage product, known as a synthetic collaterized debt obligation."
"Goldman agreed to settle the charges without admitting or denying the allegations "by consenting to the entry of a final judgment that provides for a permanent injunction from violations of the antifraud provisions of the Securities Act of 1933," according to the SEC's release."