"They'll walk. They're rich. Of course they'll walk. Only we peons must be held to the letter of the law."MSNBC.msn.com reported:
This is evidently going to be a three year investigation. It is not clear as to when it began and when it is expected to end. Has it just begun or is it just ending? Either way I don't believe it matters much as the article says the "scope" of the investigation is unclear". OK! As with so many other investigations, the scope is unclear, the time frame is large and the end results never seem to be forthcoming. I am still waiting for the FBI investigative report on the 21 financial institutions they were investigating back in 2007 during the height of the so called mortgage meltdown. The FBI actually sent out the news release of the investigation, did not reveal which institutions were under investigation and there has not been a word of it since.NEW YORK — U.S. officials are preparing insider trading charges against a host of financial players, including investment bankers and hedge fund managers, according to The Wall Street Journal, which cited people familiar with the matter.
The charges could surpass any previous investigations on Wall Street, and examine whether certain players garnered tens of millions of dollars in illegal profits, according to the newspaper.
There has been concern for years that some experts may be passing on confidential information about public companies to traders.What a shocking statement. You mean there has really been this type of illegal activities happening on Wall Street under the watchful eye of our Securities and Exchange Commission (SEC)? Nooooo, really?
What we don't know is what the motive is behind this so called investigation. Is it to truly sort out the truth and punish those that have broken the law or is it just more of what I have always called, "feel good" reporting? In other words, have the Feds released this info just to lead us into believing that they are doing their part in protecting us and going after the bad guys? I think so.
Oh yes, as to Goldman Sachs, this is what the report had to say,
The Journal said that consultants, investment bankers, hedge-fund and mutual-fund traders and "analysts across the nation" could be drawn into the inquiry.
Again, we shall wait and see what the outcome - if any - is.
The paper reported that Goldman Sachs was among the firms being scrutinized. The probe was looking into whether some investors were leaked details about health-care mergers and other transactions by bankers at the firm, the Journal said.
Read the full MSNBC story...click here