1 They custom built a crappy product so their first customer could capitalize on it.

Okay that makes sense then.  Building a crappy product is fine by me.  Lying about it not so much. 

2 So, pretty much what GM does every day, then?

3 Goldman Sachs is a convenient scapegoat to take attention away from Democrat involvement in Fannie and Freddie, Obamacare and the tidal wave of taxes that will bury Americans in 2011.

4 Isn't this somewhat like giving contributions to Dems. and to Repubs?  Of course, giving it at a ration of 2 to 1 is somewhat foolish.  Dems refuse to stay bought, and Repubs will probably remember when they are in power.

5 I thought they bundled and sold the shitty toxic assets from Fannie and Freddie to people and organizations that wanted them...

At that time, people were trying to get those toxic assets because the return was good - but people bought too much and didn't follow rule #1 when investing - DIVERSIFY.

Just like the Madoff people that put all their eggs in one basket - I have a hard time feeling sorry for them. They got too greedy and got what was coming to them.

It was a dog and pony show straight up. Congress wanted to show how stupid they really are (and did an outstanding job at that) and the SEC is shaking them down pretty good for maximum payoff.

They won't go to court to defend themselves because they will be dragged through the mud - the SEC released the emails for no other reason than for congress to give them a preview as to what will happen.

A complete disgrace.

FYI - I hate Guvment Sacks - I think they are a fishy company at best and way too connected to the feds to be clean BUT seeing this made my blood boil. This was partisan  and populist to push through Dodd's final gift to the US - a shitty Wall Street bill. GOP was piling on just so they could look good to.

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