Morning Audibles 4.30.10 - Holy Cow! Criminal Charges?

U.S. Said to Open Criminal Inquiry Into Goldman

From NYT
"Federal prosecutors have opened an investigation into trading at Goldman Sachs, raising the possibility of criminal charges against the Wall Street giant, according to people familiar with the matter.


While the investigation is still in a preliminary stage, the move could escalate the legal troubles swirling around Goldman."


From Bloomberg
“In order to proceed criminally in a case, you need to have very clear evidence” said Jensen, a former deputy chief of the criminal division of the U.S. attorney’s office in the Southern District of New York who served on that office’s securities fraud task force.

Oh wait... WRONG GOLDMAN

Goldman "Sachs" Chief Executive Officer Lloyd Blankfein said in an interview with CBS News this week: “It is my belief that nothing unethical and nothing illegal has happened, but I will tell you if I discovered something like this, or any senior person at Goldman Sachs discovered illegal or unethical behavior, we would eliminate that from the firm.” (just like OJ)...

"Let me introduce you to my little friend"

While this is all fun to see splashed on to the front pages of all the news outlets, CV has "high skepticism" that anything significant will come of it. In fact, it might all just be the latest in the never ending diversionary tactics by the TPTB/Administration to keep you looking in the wrong direction...

"The major has been shot! Round up all the usual suspects!"

But it is fun to contemplate the possibilities. (can I take my money with me to jail?)

"Get your hands off my money"

In the end, though. It'll probably wind up "business as usual"

"These aren't the bankers you are looking for"

Because they've convinced everyone they're TOO BIG TO JAIL!

And even if some criminal charges were to stick, the perpetrators would most likely just end up sharing some bunk time at a CLUB FED type facility.

So it's best that we save our "HOLY COW's" for when they truly mean something (like the fact that it's the weekend, and your lawn needs mowing)...

Look...a chart! HOLY COW (and your lawn still needs mowing)...