Sunday, July 18, 2010

Why Judge Jones should wait to approve SEC Goldman settlement

The Wall St Journal reports here
that the SEC commissioners split, along party lines, over the nature and amount of the settlement agreed to by SEC and Goldman.

But that's not the story - HERE'S THE REAL STORY, that should not be foreclosed upon prematurely:
When Goldman settled - they settled everything but not everyone, they left Fabulous Fab, to fend for himself. So, when Fabulous Fab has his constitutionally protected right to defend himself - Fabulous Fab may:
1) offer new evidence
2) recant prior evidence
3) explain in more detail 1 or 2 or
4) may strike a deal with the SEC to settle, combining 1, 2 and 3 above.

In particular, Fab was not a lone ranger, he was 27. He was supervised, by someone or some systems in place or which should have been in place at Goldman.

The first is who was reviewing and approving his email messages and related content attachments?

There is NO DOUBT that higher ups at Goldman knew or should have known his activities or omissions; the question then becomes what did they know and when did they know it? And what is the connection, if any, to their evaluations of Fab and promotion to director?

Ending the siesta on the US taxpayers' dime one easy to read blog at a time.

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