Sunday, April 18, 2010

GS Take-aways: Filibuster buster and Sequel to The Producers

FT Alphaville raises hope anew for a modicum of mediocre market regulation after the SEC claims against Goldman Sachs was filed.
There’s been nothing to gain for Republicans or Democrats (bar campaign contributions) in pushing for a watered-down version of the Dodd bill, which is now headed to the Senate. In fact, to stop this legislation ending up in front of President Obama, ready for signing, Wall Street would need all 41 Republican senators to stand together and maintain a filibuster.

After Friday’s events, that is just not going to happen.

Obama to kick the props out from under banks??

Disowning the Ownership Society

Barry Ritholtz' take, however, is the reason he is a regular read over in Guambat's burrow:
I’ve been racking my brain for the easiest way to get people to understand what GS did.

The best I could come up with was Mel Brook’s “The Producers.” They purposefully tried to create the worst play ever, lose their investors money and pocket the proceeds.

Its not much of a stretch to suggest that Abacus 2007 was Goldman Sachs’ “Springtime for Hitler.”



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