Sunday, April 25, 2010

The SEC Has No Chance of Winning Their Case Against Goldman Sachs

Even Matt Taibbi has figured out (or read somewhere) that the case is a dumb one to bring. He writes:
Goldman Sachs... has been sued for fraud by the...Securities and Exchange Commission. Legally, the case hangs on a technicality.
Actually, it's less than a technicality. It's no case, but the point here is that even Taibbi gets it's a weak case,  that said, after noting the SEC's problem with the case,  Taibbi then goes on to babble that the case is a moral referendum. I think this means he is saying something idiotic like, Goldman isn't guilty, but the jury should find them so anyway. Kind of a reverse jury nullification notion, i.e., something more like twelve angry men.

1 comment:

  1. It's a show trial for financial reform. Theater at its best.

    Carlyle Capital Corporation fell before Bear Sterns and private equity isn't even defined in Dodd's bill? Shadow bankers win.