It’s like watching a baby seal being clubbed …
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I figure losing $6mil is a small price to pay for keeping/making money off $2 Bil.
Golden Sackers should be in jail, but how do you prosecute a corporation? It would have to take a law enforcement effort similar to what they did to the mafia. Knowing a couple of folks who worked there, there would be no honor among thieves. They would spill their guts to save their own asses.*
*in the interest of fairness, I would like to disclose the fact that I went to university with Ali Velshi and found him to be a disagreeable pompous ass who was more impressed with Ali than anyone else was.
She’s an intolerable hack. And now that she’s bought a house in DC she’s all, “Why isn’t gentrification moving faster? Why aren’t the public schools good enough for my future spawn? Why don’t they evict more renters?” Whine, whine, whine.
That woman has a face like a foot.
@ManchuCandidate: In Taibibi’s RS article (excellent, BTW), he suggests prosecuting the officers for lying to Congress, which is a federal crime.
@Mistress Cynica: That’s what they went after Barry Bonds for. That’s also why Big Oil guys never get sworn in.
@ManchuCandidate: Don’t dig Ali, but if someone wants to send me Hari Sreenivasan…
@ManchuCandidate: Oh, and there’s the fraud aspect (e.g. not disclosing that GS took a short position against its CDO and the security was misrepresented) that could be in direct violation of SEC law.
ADD: How do you prosecute them? One way is to hit them in the wallet. Institutional investors could be made whole (get their entire investment back) and possibly receive consequential damages. We’re talking many billions of dollars.
@¡JNOV’s Hat Is a BIG FUCKING DEAL!:
They did, but only 100 mil
The fines should be in the billions.
@ManchuCandidate: They did, but only 100 mil ? IIRC, the pension funds, etc., invested billions. What’s the $100M? GS stock is in the crapper — if they have to make the investors whole, they are truly fucked.
I like The Criminal Former CFO of Crazy Eddie’s blog.
In other news, we are all officially OLD.
See, Jerry Lewis has finally decided to hang it up as the host of the MDA Telethon. If he did it five years ago, nobody would have thought less of it. But there it is.
Also: they cancelled America’s Most Wanted. Which, for lowest common denominator crap, wasn’t all that awful. (Sticking it next to COPS gave it a bit of a halo.) But that show has been around forever, too.
So, like I said: OLD.
@chicago bureau: Dude, I was Officially Old two years ago. AARP never lets you forget.
@nojo: I got the card … supposed to get discounts on something … never paid attention.
MANCHUCANDIDATE • Quentin Tarantino presents Action Joe and Mister Z @SanFranLefty: Wiped out
SANFRANLEFTY • Quentin Tarantino presents Action Joe and Mister Z @ManchuCandidate: Bitch, March Madness is ON! xoxo
MELLBELL • Quentin Tarantino presents Action Joe and Mister Z @nojo: I mooch Disney+ from my sister and HBO Max from my ex. Still need a Hulu hookup though!
MELLBELL • Quentin Tarantino presents Action Joe and Mister Z @ManchuCandidate: As a veteran of last year's tournament, you were re-invited with one click, so…
MELLBELL • Quentin Tarantino presents Action Joe and Mister Z @nojo: I'm just late, as ever. The play-in games started Tuesday, but we've got until tomorrow.…
NOJO • Software Update of the Year @bruce.desertrat: I have failed to get any work done since that dropped.
BRUCE.DESERTRAT • Software Update of the Year Disturbing my cow-orkers laughing at this....
NOJO • Quentin Tarantino presents Action Joe and Mister Z @¡Andrew!: I tried RRR a few times at Benedick’s insistence, just couldn’t last. And now…
¡ANDREW! • Quentin Tarantino presents Action Joe and Mister Z @nojo: I watched the clips on YouTube. Lady Gaga’s performance was extraordinarily honest and…
NOJO • Quentin Tarantino presents Action Joe and Mister Z @ManchuCandidate: Oh gee, that starts tomorrow? Haven’t heard from Mellbell, so guess not.