Here. first, we got the news that Goldman Sachs bribed the senate for a bail out:
After that involved in a financial fraud:
Could also involved: Is Goldman responsible for Greek crisis? :
For Some Investors, Another Reason to Distrust Wall Street The tumult Friday over fraud accusations against Goldman Sachs is likely to add to the deep mistrust among investors that the market is rigged against them.
"This makes the investor sit back and say, 'This is exactly why I'm not in the market. It's a good-old-boy network,'" says Keith Springer, president of Capital Financial Advisory Services in Sacramento, Calif. "It's not going to sit well with the public." Read more here
This is much worst than Worldcom or Enron financial scandal.
It involves an investment bank. Goldman could involved in many other financial crisis too.
Well, it probably just a tip of the iceberg of what evils are lurking behind Wall Street's curtain.
Goldman Sachs could not be the only one.
The optimism on Wall Street could turn pessimism because of this. Well, the market just need to find a reason to 'correct'. Just one reason and it good enough.
BTW, Goldman Sachs will start operation in Malaysia in 1st Half 2010. Read here
Before they start, I think they need to hire some really good image consultants.
Added 23rd Mac:
Look like they already find a scapegoat in the form of an employee
named Fabrice Tourre. Goldman Sach is not (accused) guilty, it just one
of the employee and US senates still voting on this. What can you
expect, Golman Sachs is Obama's huge financial contributor, you can
smell Goldman Sachs on Obama. Told ya, something wrong with banks
controlled democracy.
