According to a regulatory filing this morning, someone has yet again decided to sue Goldman Sachs over two ABACUS-esque CDO deals. Rather than get bent out of shape about it, however, the bank has remained calm and made peace with the fact that there are probably going to be a lot more of suits where that came from, in addition to other investigations into the firm’s dealings, because we live in a word populated with idiot regulators and know-nothing sheepestors, with whom Goldman must regrettably co-exist. Continue reading »
meh
The SEC has a history of massive fuck-ups. We know this. But, to date, many of these fuck-ups have a logical explanation. Missing Madoff’s multi-billion dollar scam for years and years? Bernie was just such a “captivating storyteller” that they got “distracted.” The whole Allied Capital thing? They though it was that wily David Einhorn, trying to throw people off his trail! Today comes word the Commission has added another notch to this particular bedpost, via letting a guy who turned himself go off and get his MBA for a few years before charging him with fraud. Continue reading »
“If I had to sum it up in one word, I would say: ‘blah.’ It may slip into double-dip (recession) or it may not, but it is going to slow down. There is no question in my mind because the stimulus is running out, and there is great resistance to any further stimulus.” [Reuters]
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