Well since 70% of the trades nowadays are controlled by a handful of firms, the last thing you want to do is upset
Goldman Sachs the market. I am selling my SPY calls for a loss because the last thing I want to do is get in front of the most powerful firm on Earth when they are throwing a temper tantrum. How dare the SEC!
I'm sure once the back channel negotiations are complete nothing will come of this, but it makes for good populism for the peasantry.
- The Securities and Exchange Commission charged Goldman Sachs Group Inc. and one of its vice presidents for defrauding investors by misstating and omitting key facts about a financial product tied to subprime mortgages.
- The SEC said Goldman Sachs structured and marketed a synthetic collateralized-debt obligation, or CDO, that hinged on the performance of subprime residential mortgage-backed securities.