Rumors of an SEC Settlement Boost Goldman Sachs

Friday, May 21, 2010 , , , 10 Comments



Surprise, surprise, they were false.

Reuters:

Goldman Sachs Group Inc shares rose as much as 5.4 percent on Friday morning on rumors of a possible settlement with U.S. regulators and a feeling that the stock could be oversold.

The shares were up 4.98 percent at $142.86 in midday trading on the New York Stock Exchange, off an earlier high at $143.44. Goldman's share rise came as bank stocks reversed losses and rose shortly after the open.

Word is that the Goldman rats are trying to settle for a record $1 billion, which Goldman can easily scrape up if you give them about 10 days of trading (pfft):

Analysts predict Goldman Sachs Group Inc. will pay $1 billion or more to settle a Securities and Exchange Commission fraud suit that triggered a 26 percent drop in the firm’s stock. Extracting such a record-setting penalty may be easier said than done.

When it comes to presenting a settlement for court approval, the SEC will have to “have a good explanation and justification for the number,” said Donald Langevoort, a former SEC attorney who teaches securities law at Georgetown University in Washington.

As if, there is no way the SEC is going to settle just like that. Too easy to make a big ass production over how they're putting the regulatory smack down.

Please, PLEASE don't throw Goldman Sachs in that Briar Patch!

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.

10 comments:

Anonymous said...

But Washington sources familiar with the matter said the SEC and Goldman Sachs have not reached a settlement.

talk about your trust but verify moments

Anonymous said...

Goldman Sachs Group Inc shares rose as much as 5.4 percent on Friday on rumors of a possible settlement with regulators and a ***feeling**** that the stock could be oversold.

feelings, whoa, whoa, whoa, feelings

Anonymous said...

As if, there is no way the SEC is going to settle just like that. Too easy to make a big ass production over how they're putting the regulatory smack down.

Amen

if they do settle quickly, what the fuck am I going to do with myself? I've got all this damned popcorn and candy and soda...

Gee, I wonder who started the rumor? *coughcoughcough*

Anonymous said...

Here is the new video I just made on youTube. It will be 5 minutes you need to spend to get educated on what has taken place on Wall Street the past 3 years.

Please watch this video and if you can reply back to me on your thought.

The video came out today May 21st, 2010



http://www.youtube.com/watch?v=HGAXCmg-_Vc


Richard Keane, narrator

Anonymous said...

On bonuses earlier this year:

In his message, Blankfein addressed his plan to pay out gigantic year-end bonuses amid widespread controversy over Goldman's role in precipitating the global financial crisis.

Not to worry, Blankfein reassured employees. "In a year that proved to have no shortage of story lines," he said, "I believe very strongly that performance is the ultimate narrative."

JUST REMEMBER THAT ALL YOU GS COMMON HOLDERS... YOU'RE DOWN ALMOST 20% SO FAR YTD. WANT TO DOUBLE DOWN? Die Squid, die. Damned if doin' God's work don't pay, huh? Nice work if you can get it I suppose.

Anonymous said...

I think what would be a giant kick in the nuts for GS at this point is if they did the Roberto Duran "No mas" and made an offer to settle and the SEC let them sweat a bit and then came out with a public statement like "We ain't interested in settlin' no mo' - we's interested in some justice" (translation: political haymaking during an election season). That Squid might find itself up on a cross before this is all over with.

Anonymous said...

so many probes and so little time

hahahahahahahaha!

I'm doing God's work

pffffffftttttttt.... I call bullshit, Lloyd.

Anonymous said...

have you begun to regret showing me that little linking trick yet?

tick, tick, tick, tick, tick, tick, tick


I want to see Lloyd Blankfein in a bomb suit like the dude in movie The Hurt Locker when you get a chance. Pleeeeaaaaazzzzzzzzzeeeeeee!!!!

You forget that I don't watch movies :P

But surely there is SOMETHING I can do with Lord Blankfein......