ACA is suing Goldman over the ABACUS deal that blew up in their face and in which Paulson (John, not Hank) was involved. If you remember, this was the deal over which the SEC sued as well, and "settled." The argument at the time was that it would be very difficult to prove fraudulent intent, and therefore the settlement (without admission of guilt, of course) was "in the best interest of everyone."
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Well, now in this complaint ACA alleges that not only were they not told the instrument was created due to someone's short interest, they were explicitly told by Goldman that Paulson intended to be long!
If proof of this this exists, it's black-letter proof of fraud folks:
Read the rest here
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Jan. 6: Former Labor Secretary Robert Reich explains why Goldman Sach’s decision to buy part of Facebook isn’t a risk to the company but is to taxpayers.
http://www.msnbc.msn.com/id/3036677/vp/40956920#40956920
JON STEWART: Mark Zuckerberg Is The World's Biggest Hypocrite
Mark Zuckerberg doesn't want to be transparent. The guy's whose immense success was founded on mining our personal data. The guy who shares my photos with the world unless I change my privacy settings every half-an-hour...WTF?"
Goldman Sach's role was less surprising.
"Goldman! Sachs! Well when it comes to weaseling around financial regulations they are the masters....Oh Goldman, is there any financial regulation you can't subvert."
Read more: http://www.businessinsider.com/jon-stewart-mark-zuckerberg-goldman-sachs-2011-1#ixzz1AMKDWH2t
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