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These are the civil charges, it will be interesting to see if there are criminal charges. A civil verdict against GS just costs money. A felony conviction wou
by robdimarco 16y ago
These are the civil charges, it will be interesting to see if there are criminal charges. A civil verdict against GS just costs money. A felony conviction would destroy the bank, like it did to Arthur Andersen.
- deleted 16y ago[deleted]
- jbarham 16y agoIt's a different Paulson: "John Paulson [founder and president of Paulson & Co. referenced in the SEC link] is not related to former Goldman Sachs CEO and U.S. Treasury Secretary Hank Paulson." (from http://en.wikipedia.org/wiki/John_Paulson http://en.wikipedia.org/wiki/John_Paulson)
- apsec112 16y agoPaulson was Secretary of the Treasury, not Federal Reserve Chairman. There's a big difference; a Secretary of the Treasury is a normal Cabinet post subject to Congressional oversight, while the Federal Reserve basically isn't subject to oversight by anyone.
- digitallogic 16y agoThat's patently false: "The chairman is subject to Senate confirmation to a four-year term. In practice the chairman is often re-appointed, but cannot serve longer than one 14-year term as governor" http://en.wikipedia.org/wiki/Chairman_of_the_Federal_Reserve http://en.wikipedia.org/wiki/Chairman_of_the_Federal_Reserve
- roboneal 16y agoThe chairman may be subject to Senate confirmation and dragged in front of a committee now and then. However, the larger practices of the Federal Reserve, especially dealings internationally, are not regulated and essentially secret.
- gcv 16y agoThe Times article says that the SEC has been investigating those deals for months. Has this been in the news and I just missed it?