April 19, 2010

Are You Surprised by the Goldman Sachs Fraud Suit?

I can't imaging anybody being surprise by the revelations that Goldman Sachs has been involved in fraud… unless of course you've been living under a rock.

In a recent Bloomberg interview, Matt Taibbi of Rolling Stone said, “This is a massive blow to Goldman Sachs [...] this is a story about Goldman ripping off their own clients, and this is going to resonate loud and clear across Wall Street and across its entire client base. I can’t imagine how anybody would want to do business with this bank after they’ve learned about this story and I think that’s going to be very damaging.”