To quote Han, I have a bad feeling about this. What immediately comes to mind is that this is the first time that the word “fraud” has been associated with this kind of SEC investigation. Don't get me wrong, I hope they fry the (insert expletive of choice).
But for the last 20 years, jp moron, goldscumsucks, blank of america, or any of the insider bank types that performed this type of manipulation and theft would get investigated and just pay a fine without admitting that they did anything wrong. In other words the govt didn't mind too much that the thieves ripped off investors as long as they collected a bit of vig for looking the other way.
Now we hear that GS is under investigation for criminal activities JUST WHEN the o/bam admin is throwing out talk of the urgent need to regulate wall street. I am all for transparency and enforcement of reasonable regulations, but I am sensitized to the "good naming, bad legislation surrounded by propaganda" that has been the hallmark of the current administration.
The information that GS is a slime ball organization manipulating, committing fraud and pushing markets around is years old. But now something has changed and where I hope what happens is what we would like to see, transparency, position limits, getting rid of naked shorting, taking the price discovery mechanism away from the crimex paper gambling casino; I am skeptical.