What should be the PENALTY for GOLDMAN Sachs CONS selling BAD MORGAGES to German bankers?

Question

http://news.yahoo.com/s/ap/20100417/ap_on_bi_ge/eu_germany_us_goldman_sachs#mwpphu-container

Answer 1

If the case of the SEC is watertight, the people involved and the CEO at the time should be tried, fined and potentially sent to prison.

Whatever their name or background. Fraud is fraud.

Answer 2

Ah, Goldman Sachs, the Democrats' friend! Kindly read the last two pages of this paragraph:

"Goldman Sachs, one of Wall Street’s most prestigious investment banks, was also among the many banks in 2008 and 2009 to receive billions of dollars in taxpayer money to help it stay afloat. Like others in the securities industry, Goldman Sachs advises and invests in nearly every industry affected by federal legislation. The firm closely monitors issues including economic policy, trade and nearly all legislation that governs the financial sector. It has been a major proponent of privatizing Social Security as well as legislation that would essentially deregulate the investment banking/securities industry. The firm tends to give most of its money to Democrats. A number of high-ranking government officials in recent years have spent part of their careers at Goldman Sachs."

So a good penalty would be to close 'em down so they can't rip people off and influence American politics.

Answer 3

I'm going to go rogue and suggest that Goldman Sachs be allowed to defend the creation and marketing of its CDO prior to the Sunday talk shows and discussion of punitive measures. I mean if that's okay with you.



So is it okay to wait for the careful and impartial application of the rule of law in this matter, or am I overruled by mob sentiment?



Please let me know when you get the chance.