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I feel so bad for these guys. Isn't there something we can do?
http://www.dowjones.de/site/2011/05/...or-client.htmlGoldman Sachs Group Inc. (GS) said in its quarterly regulatory filing the Commodity Futures Trading Commission is investigating its Goldman Sachs Execution and Clearing division's role as clearing broker for an unnamed SEC-registered broker dealer. The agency has orally advised Goldman it intends to bring aiding and abetting, civil fraud and supervision-related charges against the Goldman operation related to its clearing services for this broker-dealer.
The CFTC, the filing said, is basing these charges on allegations Goldman knew or should have known that the client's subaccounts at Goldman were accounts belonging to customers of the broker-dealer and not the broker-dealer's own accounts. The filing says Goldman is cooperating with the investigations.
The Justice Department is also reviewing matters similar to a European Commission investigation initiated last month into the supply of data related to credit default swaps and fee arrangements for clearing of credit default swaps, including potential anti-compe ive practices, the filing said.
New government probes into its activities come after a rough year for Goldman on the public relations front. Last year it paid $550 million--the biggest SEC fine ever paid by a Wall Street bank--to settle charges it misled customers in the sale of a complex mortgage derivative. Goldman initiated an extensive review of its business practices as a result of those allegations.
Goldman reduced its worst-case estimate for litigation losses related to products it underwrote to $2.7 billion from $3.4 billion, according to its quarterly regulatory filing.
I feel so bad for these guys. Isn't there something we can do?
You feel sorry for Goldman?
Winehole....he was joking....
You're better than this.
If I posted what I really think of Goldman Sach's lack of integrity going back at least until the '80's I probably would get sued.
Raj Rajaratnam got 20 years today for insider dealing that got him $60M.
A dozen associates testified against him. His main inside contacts were in Intel and Goldman.
Always good news when somebody is going after GS
I'm calling a $30,000 fine, and a warning not to do it again...
Probably, since they own our last two presidents and probably our next one. Not sure they'll get the warning though.I'm calling a $30,000 fine, and a warning not to do it again...
Sometimes it's hard to tell what people mean. When I'm unsure I prefer to ask rather than just assume, particularly if I don't know the poster very well.
This is ing peanuts. I want these ers fried for what they did 4 years ago.
JK
unless you want to take up a collection or something. In that case, I'll set up an account.
Check's in the mail. I made it out to cash. I can trust you, right?
You can bank on it,
thank you for your contribution.
Hopefully they will get some time in a federal pound-em-in-the-ass prison.
http://www.telegraph.co.uk/finance/n...man-Sachs.htmlLansdowne Partners sells entire $850m stake in Goldman Sachs
The disposal – equivalent to just under 1pc of Goldman's equity – mirrors a similar sale Lansdowne made in 2008, ahead of the financial crisis.
The recent sale of 4.94m Goldman shares, revealed by The Telegraph for the first time, will come as a further blow to the investment bank, which recently saw its shares hit levels not seen since spring 2009 after disappointing second-quarter results.
It marks a sizeable bet against the investment bank by the hedge fund, which sat on the top 20 list of Goldman investors, given the stake equated to almost 10pc of the $10bn funds Lansdowne has under management.
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