Goldman Sachs: our side of the story

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Sift Media
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Goldman Sachs has asked the Financial Services Authority (FSA) to remove Frenchman Fabrice Tourre from their list of 'approved persons' who can work as a trader in the UK as the controversy around the bank spreads even as it reports bumper quarterly results.  In the US, the Securities and Exchange Commission (SEC) has begun a probe into allegations that Goldman Sachs misled clients on a sub-prime investment deal. The FSA has found sufficient evidence to open its own formal probe into Goldman's activities, and will be gathering evidence from the bank, its clients and associates. Goldman used the announcement of better-than-expected net earnings of $3.5 billion in the first quarter to issue a forceful denial of...

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Goldman's interest in the transaction?

Perhaps Goldman could clarify whether their retained interest in these instruments - which lead to them suffereing many $millions of loss - were the result of a deliberate intention to retain the interest or just because they could not find enough 'informed investors' willing to take them off their hands?

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Goldman Sachs is actually a financial cancer

The problem with Goldman Sachs is that their tentaclces a so invidious and far reaching that they seem to have a finger in just about every pie

This particular SEC investigation is only the tip of the iceberg so far as Goldman are concerned and there are many more areas where they should be held accountable for their financial chicanery

What about Greece and its current financial state - just see how Goldman contributed
http://www.spiegel.de/international/europe/0,1518,676634,00.html

The only real answer is for goverments worldwide to refuse to deal with them because Goldman themsleves have simply become devalued currency; whenever they are engaged in the future it will indicate the possibility of some 'smoke & mirrors' deal whereby Goldman are the only winners & everyone else pays the price

As with any cancer one has to take steps to cut it our of the system and Goldman Sachs is a very virulent form of disease

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