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Unethical Bedfellows: Goldman Sachs and the United States Department of Justice

"If you don't want to disclose it, it's material." - Gentlemen's Code of Ethics.Goldman Sachs faces a civil lawsuit for failing to disclose a material fact to an investor.  While Goldman's propaganda agents are attempting to confuse people with immaterial facts, the case against Goldman is crystal clear to anyone with a sense of ethics.A hedge fund dealer went to Goldman Sachs and said, "I have created an investment that I am certain will lose value.  If I set this investment up correctly, it will lose 100% of its value.  Here is $15 million.  Go sell this to one of your clients."Goldman Sachs sold the investment to one of its clients.  Goldman Sachs never disclosed that the investment was designed to fail.  Goldman's client took Goldman at its word: Goldman said this was a thoroughly researched, triple-AAA investment...continue to full post

Full post as published by Crime & Federalism on April 21, 2010 (boomark / email).