So today it was announced that GS settled with the government 1 (I trust there are many many more)of the potential lawsuits the government has against them. Yes, this is the same Goldman Sachs who contributed more to this recession than FANNIE, FREDDIE and CRA combined.
So the headline number was $550 million. I was truly shocked it was so low. After all this same organization clipped TARP via AIG for $100 Billion instead of $50 billion.
Sure enough GS stock immediately went up by nearly 10% or $10 billion dollars. That means virtually everyone in the market was expecting a much higher settlement. But noooooo, our brilliant government let them off the hook once again for pennies on the dollar. Just like lobbying you get a 2000% return on your investment in a single day! How come we can’t do that?
Think about it, a test of a proper settlement is the stock doesn’t move that the correct amount has been priced in. Instead, TEAM OBAMA capitulates to the detriment of the American Public.
Does anyone doubt he will amass greater wealth after he leaves office than even bill Clinton’s $150 millon ?
This is getting downright disgusting……