April 21, 2010

Goldman: Villian In Dumbed Down Fable

Sean Collins, The American Situation

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The media is in a frenzy over Goldman Sachs.

On Friday the Securities and Exchange Commission (SEC) charged Goldman Sachs of securities fraud in a civil lawsuit. The SEC claims that the Wall Street giant deceived clients by selling them a subprime mortgage investment that was intended to fail.

The story has dominated the news over the weekend and today. It is claimed to be a very big deal, a court case that might define the financial crisis era. Yet, in one sense, I find it hard to see just what is so big about it.  Just consider the information we know...

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TAGGED: SEC, Securities and Exchange Commission, john paulson, Goldman Sachs, Sean Collins

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