April 20: Commentary - Goldman SEC Litigation, the End of OTC? - Alan Boyce on the Duration of Fed Open Market Operations
Location: New York
Author:
Date: Tuesday, April 20, 2010
Last Friday's announcement by the SEC of a civil lawsuit against Goldman Sachs (GS) for securities fraud did not surprise us. Nor were we surprised to see the markets trade off large on the news, evidence to us that there is a certain lack of conviction in the financials. Q: How can you have "normalized earnings" in an abnormal industry?
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