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.
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:
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It's a show trial for financial reform. Theater at its best.
ReplyDeleteCarlyle Capital Corporation fell before Bear Sterns and private equity isn't even defined in Dodd's bill? Shadow bankers win.