April 29, 2010

Put me some knowledge

Okay.  So.  I'm totally confused.  Can anyone tell me what the hell it is that Goldman Sachs is being charged with?  Heaven knows I'm not a financial genius, but there's nothing wrong with betting both sides of a market.  Hell, I think it would be a violation of fiduciary responsibility to NOT attempt to hedge investments.  A market, any market, will either go up or down.  There is nothing wrong with selling a fund premised on the market going up.  There is nothing wrong with simultaneously selling a fund that says the market will go down.  Someone will win, someone will lose.

Now, if GS did not disclose the true facts about those funds or if GS misrepresented the contents of those funds, that's fraud and throw the book at them.  But I cannot for the life of me figure out what the actual facts are beneath the screaming.  So put me some knowledge, what the hell did GS do? 

Posted by: alexthechick at 01:44 PM | Comments (7) | Add Comment
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