Three Cheers for the SEC

Discussion in 'Stock Market' started by Political Junky, Apr 16, 2010.

  1. Political Junky
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    Political Junky Gold Member

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    The Buzz: SEC deserves praise for taking on Goldman Sachs - Apr. 16, 2010

    By Paul R. La Monica, editor at large April 16, 2010: 2:13 PM ET

    The Buzz is now on Twitter! Follow me @LaMonicaBuzz

    NEW YORK (CNNMoney.com) -- The SEC showed some major teeth Friday. It's about time. And hopefully this won't be the last time the agency bares its fangs.

    The Securities and Exchange Commission is going after the biggest of the big on Wall Street. Goldman Sachs.

    paul_lamonica_morning_buzz2.jpg

    The SEC alleged that Goldman Sachs (GS, Fortune 500) failed to disclose to investors in a pool of subprime mortgages that Paulson & Co., one of the most influential hedge funds in the world, was making bets against the security.

    If the SEC's claim is true, this is a major transgression. Even if it turns out that the wrongdoing was the work of one rogue employee -- the SEC specifically named Goldman Vice President Fabrice Tourre -- it is clear that Goldman has some explaining to do and must pay. <more>
     
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  2. Vast LWC
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    Vast LWC <-Mohammed

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    Three Cheers indeed. Finally someone is taking action.

    Way to go SEC.
     
  3. Xenophon
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    Xenophon Gone and forgotten

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    Ah, Barry's latest scapegoat is already feeling the pinch.
     
  4. Vast LWC
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    Vast LWC <-Mohammed

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    Yep, because corporations are run by saints who obviously never do anything wrong.

    Did you actually bother to look into the allegations?
     
  5. Xenophon
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    Xenophon Gone and forgotten

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    Do you actually bother to understand how the world works?

    The gov goes from one scapegoat to the next, this is the big plan to 'win' over the public, go after the 'fatcats' on wall street.

    Watch the law of unintended consequnces go wild now, its already started:

    Stocks tumble as Goldman charged with civil fraud
     
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  6. Vast LWC
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    Vast LWC <-Mohammed

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    Did Goldman not in fact rip off it's investors by advising them to buy stocks that THEY KNEW WERE GOING TO FAIL???

    Is that not Fraud?

    Should the SEC look the other way and let them get away with it?

    Seriously man, try to think about what you're saying before posting it.
     
  7. Political Junky
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    Political Junky Gold Member

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    Cons support corporations over citizens. That worked, for a while, for Mussolini.
     
  8. Gatekeeper
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    Gatekeeper Senior Member

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    Congrats to the SEC, for now, wonder if they will continue to weed out these corporate slime?

    Also the quote:
    The people got fed up enough with Corporatism that they made Wind Chimes out of Benito and his wife.
     
  9. Political Junky
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    Political Junky Gold Member

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    Wind Chimes, that's good. They sure did hang their bodies upside down in Milan.
     
  10. Dr Gregg
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    Dr Gregg BANNED

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    I was expecting to hear a conservative on here bitch about how the stock market went down in part due to this news
     

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