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Goldman Sachs provided a more detailed view of its legal troubles Monday, acknowledging it faces a series of government probes over some of its business dealings.
Here is the link: http://money.cnn.com/2010/05/10/news/companies/goldman_legal/index.htm
It will be interesting to see how Goldman fares through all of these allegations. So far it seems like its been pretty hard to charge them with fraud. With more cases against Goldman surfacing it should be interesting to see if any charges will actually hold.
ReplyDeleteI think the "Goldman Shareholders Speak Up" video on this link was particularly interesting. Even some shareholders who questioned the ethical nature of Goldman Sachs said that they would either not sell their current stocks or they would buy more. It seems that even the average citizen is more interested in turning a profit than ensuring ethical business practices. Unfortunately I do not see a change in that mind set any time soon.
ReplyDeleteI think this is ultimately a good thing. Bringing criminal prosecutions against these guys is another way of letting them they can't just get off that easy especially if any of them lead to mega-settlements or real jail time.
ReplyDeleteI agree with Tommy. I think it's a good thing, at least regulation in the legal aspect is justifiable against the stifling of the free market economy. I think they should be charged with something if all of these cases keep coming up of Goldman Sachs showing unethical nature. On a tangent-I feel like there isn't enough regulation of financial instruments. If certain instruments confuse people enough to where there is no regulation on them and their use then maybe they shouldn't even be used.
ReplyDeleteIt's not that surprising that these allegations are starting to come out as more and more investigations are being made. I do not think they will face much repercussion from the government but will probably face more lawsuits from the shareholders. I'm glad that they are taking further action as it will signal to Goldman Sachs that they won't be able to get away with everything as Tommy stated.
ReplyDeleteI think the recent allegations and the subsequent public outcry have really helped to bring a little bit of justice to Goldman. I can't say whether or not anything will truly become of it but at the very least its got to make them act more cautiously in the future and hopefully make them think twice before trying to screw people over again.
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