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Bernie Madoff and Goldman Sachs

When Bernie Madoff made market gains that left everyone scratching their heads, people called the SEC.  The SEC wasn't too interested.  We all know how that ended.  Investors lost everything.  None of the crooks, liars, and bozos from the SEC lost anything.  Instead, SEC insiders signalled to Wall Street: "Relax, guys.  We still want consulting and speaking fees; and jobs, too!  You can count on us, if we can count on you to keep greasing the revolving door."Considering Bernie Madoff's fall, how should we view Goldman Sachs' recent gains?  Bloomberg's Christine Harper reports:Goldman Sachs Group Inc. made more than $100 million in trading revenue on a record 46 separate days during the second quarter, or 71 percent of the time, breaking the previous high of 34 days in the prior three months...continue to full post

Full post as published by Crime & Federalism on August 05, 2009 (boomark / email).