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Discussion Starter #1
Looks like the government looking for a scapegoat, but the Subprime market was bigger than just a single organization - even one as prolific as GS.<br><br>
Why just GS and not BoA, AIG, JP Morgan, and other IBs that had a major hand in developing the circumstances and did the same things (reselling toxic assets)?
 

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Have a good point, but, someone has to be the scapegoat. The gov't has to look like it really did something to punish the bad guy.
 

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Discussion Starter #3
Can't we just blame dg1 for this?
 

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<div>Originally Posted by <strong>Horrible Peanut</strong> <a href="/forum/post/1863890"><img alt="View Post" class="inlineimg" src="/img/forum/go_quote.gif" style="border:0px solid;"></a></div>
<div style="font-style:italic;">Looks like the government looking for a scapegoat, but the Subprime market was bigger than just a single organization - even one as prolific as GS.<br><br>
Why just GS and not BoA, AIG, JP Morgan, and other IBs that had a major hand in developing the circumstances and did the same things (reselling toxic assets)?</div>
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Looks like part of the argument is that GS sold the "investments" with the knowledge that a party to the transaction was actively shorting them.
 

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Discussion Starter #6
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<div>Originally Posted by <strong>Dylan McKay</strong> <a href="/forum/post/1863907"><img alt="View Post" class="inlineimg" src="/img/forum/go_quote.gif" style="border:0px solid;"></a></div>
<div style="font-style:italic;">Looks like part of the argument is that GS sold the "investments" with the knowledge that a party to the transaction was actively shorting them.</div>
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Yes- but it was also my understanding this was common practice among IBs.<br><br>
I know that doesn't make it right, but why is GS singled out.
 

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I don't know if it's fair or not.<br><br>
But GS was engaged in some pretty shady activity. Yes, there were others too, but that's like the kids who is misbehaving in class talking about what all the other kids were doing...
 

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<div>Originally Posted by <strong>Horrible Peanut</strong> <a href="/forum/post/1863923"><img alt="View Post" class="inlineimg" src="/img/forum/go_quote.gif" style="border:0px solid;"></a></div>
<div style="font-style:italic;">Yes- but it was also my understanding this was common practice among IBs.<br><br>
I know that doesn't make it right, but why is GS singled out.</div>
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well, if they punished ALL, wouldn't it look like faulty regulation rather than just one business being shady???? I'm going with a scapegoat being NEEDED
 

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<div>Originally Posted by <strong>Clg311</strong> <a href="/forum/post/1863913"><img alt="View Post" class="inlineimg" src="/img/forum/go_quote.gif" style="border:0px solid;"></a></div>
<div style="font-style:italic;">Good. Hope those losers get some serious jail-time.</div>
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I'm not sure that's even on the table right now. It's a civil complaint.<br><br>
I'm thinking the fed said, "look, we got to charge you with something, what would you like it to be?"
 

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I have a hard time seeing GS as a scapegoat. Scapegoating is the practice of singling out one child, employee or member of a group of peers for unmerited negative treatment or blame. GS may be one among many, but I don't see how you could conclude that the treatment is unwarranted. It seems insufficient, especially when we have people serving life in prison for stealing a pizza under CA's 3 strikes law.<br><br>
I think it shouldn't just be GS, but drive on the freeway, everyone speeds, only a few get tickets. I hope they get everyone who was involved in financial crimes, but, in the end, they probably won't get anyone.
 

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But my problem with all this is what is the government going to do even if they accuse GS or AIG of causing the problem. It's a lot of grandstanding by the Congress but in the end nothing will really come of all this.
 
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