LITTLE MISS MARY

Now the first thing you are going to hear is, "It is absolutely untrue that this was co-ordinated with the White House. This has nothing to do with the pending financial legislation before Congress. The SEC, after a long investigation acted under its own authority in this matter concerning Goldman Sachs. " This will be total crap. THis administration is a disgrace: it will use any ploy, any perceived advantage, any governmental entity to advance it's agenda and the hell with the consequences. Unfortunately, Goldman Sachs, arrogant slime buckets that they are (but smart ones) makes it easy for The Leader and his acolytes.

Now no one has had enough time to view the nature and substance of the charges in the SEC complaint but it is interesting that it is a civil complaint, not a criminal one. One of course can be certain that state's attorney's general will be raising holy hell (with creatures like Blumenthal and Cuomo in place what can one expect) and threatening indictments within hours but it is also interesting to note the furious response of Goldman to the charges, a response far and away more vehement than is usually seen.

Now I am sure, despite one's feelings as to the substance, there are thousands up and down the street that are secretly hoping for a public mass hanging, but this looks like it's going to be around for years. I personally don't like the practices followed by GS or other street firms for that matter but as I said yesterday we have gotten far, far away from that tablet that Mo brought down from the hill a few years back. Then again, if you have a minimum of $10 million, GS will be happy to call you a client; not too many members of the Little Sisters of the Poor get int 70 Wall. Who's right, who's wrong? I don't know, but this is going to be a circus. For all of the malfeasance and deliberate, outright fraud that occurred throughout this moment in history it seems just a bit ingenuous to single out Goldman but then again when you paint a target on your back, don't be surprised when someone aims at the 10 ring.

Have a nice weekend.