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.

Via WSJ:

  • 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.