Goldman Had 9 Months' Warning From SEC--Report

[malaise]

http://online.wsj.com/article/BT-CO-20100417-701050.html?mod=WSJ_latestheadlines
<snip>
Goldman Sachs Group Inc. (GS) was warned nine months ago that Securities and Exchange Commission staff wanted to bring a civil case against it, but the investment bank didn't specifically disclose this to investors in regulatory filings, Bloomberg News reported Saturday, citing unidentified people it credited with direct knowledge of the communications.

Goldman Sachs responded to the so-called Wells notice from the SEC within months and met with agency officials in an effort to fend off the civil lawsuit, Bloomberg reported, citing its sources, who declined to be identified because the discussions weren't public.

The SEC sent Goldman the Wells notice in July 2009, and the company responded in September. In March 2010, the New York-based firm said in a regulatory filing that it was cooperating with regulators' "requests for information," Bloomberg noted.

[depakid]

1. The shenanigans in Greece may have forced the agency's hand

[malaise]

2. Good point

I'm convinced the planet is in the mess because ideological gurus appointed by Bushco made political decisions to allow an awful lot of corrupt decisions to prop up Friedman's rotting corpse and fool people on the planet that the system was working. The robber barons had a feast and now we all suffer.

[Bluenorthwest]

3. Around the world, many people and nations have been harmed

And none of them wish to protect Timmy or any of the culpable at all. In my opinion, Obama needs to step up and bring justice to the criminals, as a national security issue. We can not be a lawless nation, harboring and protecting those who destroy nations for sport. We must not allow this nation to become a pirate nation to protect these fiends.

[InkAddict]

4. Regarding snippet #2 of OP

Who could have imagined.... there were incorruptible "agency officials" whose price GS could not meet?

I'm not convinced this will lead to anything more than a bit of a fine, sternly worded letter of reprimand, or a few media editorials soon to be forgot for the next moral outrage. :sigh:

[malaise]

5. LOL - yes who could have imagined that

I'm watching to see what happens.