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Wednesday, April 21, 2010

The SEC's Goldman Lawsuit

After reading a whole bunch of articles and listening to a whole bunch of news stories and commentary about the SEC's lawsuit against Goldman Sachs, I find the timing vis a vis Obama's push for financial industry reform to be too cute by half. I do not believe the disclaimers by Rahm Emanuel and others that the White House or the DNC had no prior knowledge of the SEC action. As any literate person over the age of about 15 knows, politicians lie. Especially about things that help them get what they want.

Then there are the stories about how much money Goldman's employees gave the Obama campaign, and how Obama's not going to give any of it back. There are other stories about the former Goldman employees occupying posts in the administration. Strange bedfellows, indeed.

Sorry, Charlie, I just don't believe in coincidences, especially in this administration.

I have no actual evidence of collusion, of course, but I'd like to go on record with a comment about how unsurprised I will be if, after a "decent" amount of time, the SEC and Goldman reach a settlement that either lets Goldman off the hook or has them paying a face-saving (to the SEC) but immaterial (to Goldman) sum in settlement, and all will once more be right with the world.

Labels: Banking, Finance, Obama, politics, Regulation, SEC

# posted by ExRat @ 12:17 PM

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Thoughts

"The problem with a narcissistic president is not just that he sees the world as all about himself, but that the world soon sees that it is not about him at all.--Victor Davis Hanson, "Presidential Narcissism", National Review Online, 9 May 2012

"The natural progress of things is for liberty to yield and government to gain ground. As yet our spirits are free."--Thomas Jefferson, letter to Colonel Carrington (27 May 1788)

‎"Excellence is not a singular act, but a habit. You are what you repeatedly do."--Shaquille O'Neal

"In a world where every one thinks of himself as white, black, gay, straight — we have forgotten that the real distinction is between who holds power and who does not. Nothing else matters."--Richard Fernandez, 1 July 2010

"Everything the government touches turns to crap."--Ringo Starr

"There is no worse tyranny than to force a man to pay for what he does not want merely because you think it would be good for him."-- Professor Bernardo de la Paz, The Moon is a Harsh Mistress by Robert A. Heinlein

"While North Korea itself may not be a proximate threat, the failure of the international community to stop even this impoverished and bizarre regime suggests that it is fundamentally toothless or has forgotten how to bite. What chance is there of blocking the stronger aspiring powers? None. It’s over. Ignoring North Korea isn’t a sign of confidence. It’s just whistling past the graveyard." Richard Fernandez, May 27, 2009.

"The nation that will insist upon drawing a broad line of demarcation between the fighting man and the thinking man is liable to find its fighting done by fools and its thinking by cowards.” General Sir William F. Butler in Charles George Gordon, 1889.

"The fact is that Iran will never voluntarily give up its nuclear program, and a policy based on the contrary assumption is not just delusional, but dangerous." -- John Bolton, Surrender Is Not An Option, p. 340, 2007.

"Those who can win a war well can rarely make a good peace, and those who could make a good peace would never have won the war." -- Sir Winston S. Churchill, My Early Life, 1930

"Environmentalism should be about good planetary hygiene and honest science, not romantic Luddism." Glenn H. Reynolds ("Instapundit") 27 Feb 2007

"The things that will destroy America are prosperity at any price, peace at any price, safety first instead of duty first, the love of soft living and the get rich quick theory of life." -- Teddy Roosevelt

"[W]e have reached a point at which the rules apply only to us, while our enemies are permitted unrestricted freedom." -- Ralph Peters, 10 July 2006

"Diplomacy does not work with people who do not wish to bargain." Ed Morrissey, 29 Jun 2006

"We now have the first truly global terrorist insurgency because the Islamists view the whole world the way the IRA view the bogs of Fermanagh: They want it, and they've calculated that our entire civilization lacks the will to see them off." -- Mark Steyn, in Opinionjournal.com, 4 Jan 2006

"People who try to be sensitive in a war have a tendency to die, and to take their nations with them." -- Steven Den Beste, 21 Sept 2002

"I trust local people. It's a fundamental part of my political philosophy: The closer decision-making is to the people, the better the decision-making will be." -- George W. Bush, 2 March 2005

"Sometimes the caliber of a nation is found not in why it is liked, but rather in why it is not." -- Victor Davis Hanson, 29 April 2005

"We have manuals on how to properly handle the Koran and humanely treat prisoners, paying respect to their cultural sensitivities, they have manuals on how to properly torture and decapitate hostages." -- Opinipundit (Trader Bob) 23 June 2005

"[O]nce the shooting starts, a plan is just a guess in a party dress." -- Michael Yon, 25 Aug 2005

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Wednesday, April 21, 2010

The SEC's Goldman Lawsuit

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