I honestly don’t know whether Goldman violated Section 10(b) of the Securities Exchange Act of 1934. What I do know is that the facts outlined in the government case are a powerful and convincing reminder of Wall Street’s complete and utter amorality. There, concepts like truth, justice, fairness, trustworthiness, duty of care, right and wrong are now totally without meaning. There is only buy or sell, long or short, win or lose.
That was Washington Post columnist Steven Pearlstein’s take on the SEC charges against Wall Street giant Goldman Sachs. Kind of makes you wonder why anybody would put their hard-earned money in Wall Street, doesn’t it? Read the entire column at www.washingtonpost.com/wp-dyn/content/article/2010/04/22/AR2010042205847.html?hpid=topnews