More on Goldman and the SEC

http://www.futureofcapitalism.com/2010/04/fabrice-tourre-goldman-sachs

Two more updates regarding the SEC case against Goldman Sachs and Fabrice Tourre, which we commented on earlier here and here. First, Reuters has a statement from Goldman: "The SEC's charges are completely unfounded in law and fact and we will vigorously contest them and defend the firm and its reputation."

Second, a reader observes that, as a general matter, it's not entirely surprising that the SEC would charge Goldman but not John Paulson or Paulson and Co., which paid Goldman to do what it did. The SEC is in a certain way bought into the short-seller's view of the world as one full of scams waiting to be exposed or punctured, and the shorts have for the most part been brilliant at using the SEC, the press, and even the ratings agencies (which can be overly bearish as well as overly bullish) to advance their interests.

by Ira Stoll  |  Apr 16, 2010 at 2:10 pm Related Topics:  Goldman Sachs, SEC receive the latest by email: subscribe to the free futureofcapitalism.com mailing list