Saturday, April 17, 2010

Jubak: The SEC case against Goldman punctures Wall Street’s “Act of God” defense + The tale of Goldman's fraud charges

[mEDITate-OR:

not see that we could not have said it better ourselves...

unless we did.

So..., we said this:

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JGBHimself on 18 April 2010

Not only is the timing not random, it also suggests that this has, is and will continue to explode.

First, this is only a regulatory event.

True, they can recommend criminal action, on the Federal level, but they cannot file it. That is Justices decision.

Second, what the AG in New York – the Federal Attorney and/or the State AG decided to do is another question.

Both state AND Federal laws probably have been broken.

Third, this probably is a RICO crime as well.

That could mean treble damages ordered paid back to all of U.S. that were effected.

Fourth, like a DWI, criminal charges do NOT result in “civil” – well, sometimes they are not all that civil – damages.

What you may, permissive, expect is that each and every Class Action Attorney among U.S. is already typing away on their complaints in their Complaints..., which will also be lodged in their briefs.

As Lawrence showed/told U.S. all…, it is a terrible thing to see...: wave after wave of Shiites rolling down the hills all around you.

As the Devil will tell you & all of U.S.: Aren’t you even tempted to be a wee, skoshi bit sympathetic?

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The second article is the CNN report on how they did it.

While not definitive, it does provide a very good outline of the charges that the SEC is making.

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