wgadget
04-21-2010, 12:21 PM
http://market-ticker.denninger.net/archives/2224-A-Sober-Warning-To-The-GOP-And-The-Democrats.html
Excerpt:
The political witch-hunt that is now being fomented related to the SEC's charges against Goldman is a minefield that threatens to blow up the GOP for the next 20 years - if not permanently.
The full-court press by right-wing talking heads such as Limbaugh and Hannity, who appear to have not bothered to do a bit of research into the matter before spouting off absolute nonsense, are piling on in a fashion that will just do further damage to the Republican brand.
The premise here is that the SEC action was "concocted" in some fashion. Well, if that's true, how come the key trader involved, Tourre, has been de-registered in London?
Fabrice Tourre – the bond trader at the heart of Goldman Sachs' fraud case – was on Tuesday barred from working in the City of London in the first 'victory' for financial regulators on both sides of the Atlantic.
That's not what you do if you did nothing wrong - or your employee did nothing wrong, conference call by Goldman with many "ahs" and "uhms" notwithstanding.
It may get much worse. Zerohedge is reporting that the infamous C-BASS, the company formed by MGIC and Radian (and over which their pending merger blew itself to bits a couple of years ago), may be intertwined in the Goldman mess. There may be a story here - or maybe not. We'll see as time passes.
Excerpt:
The political witch-hunt that is now being fomented related to the SEC's charges against Goldman is a minefield that threatens to blow up the GOP for the next 20 years - if not permanently.
The full-court press by right-wing talking heads such as Limbaugh and Hannity, who appear to have not bothered to do a bit of research into the matter before spouting off absolute nonsense, are piling on in a fashion that will just do further damage to the Republican brand.
The premise here is that the SEC action was "concocted" in some fashion. Well, if that's true, how come the key trader involved, Tourre, has been de-registered in London?
Fabrice Tourre – the bond trader at the heart of Goldman Sachs' fraud case – was on Tuesday barred from working in the City of London in the first 'victory' for financial regulators on both sides of the Atlantic.
That's not what you do if you did nothing wrong - or your employee did nothing wrong, conference call by Goldman with many "ahs" and "uhms" notwithstanding.
It may get much worse. Zerohedge is reporting that the infamous C-BASS, the company formed by MGIC and Radian (and over which their pending merger blew itself to bits a couple of years ago), may be intertwined in the Goldman mess. There may be a story here - or maybe not. We'll see as time passes.