Goldman Sachs: At war with Washington

We will see.
I am hard pressed to believe that, all of a sudden, Wall Street no longer Owns Washington because it sure has.
Delay will be the best tactic that Goldman can use.
It will take a considerable time to adjudicate this civil suit.

Jim,

Agreed. More political PR passing as headline news. Financial reform, or the appearance of it, needs fodder for the kangaroo court. The limiting factor, however, is that the liquidity driven recovery is not only fragile but also requires cooperation. They cannot push this illusion too far without creating both economic and political consequences. Depiste the headlines, capital markets discount long-term reality.

Eric

One tweet yesterday said it all: "How can the [US] government sue Goldman Sachs? I thought Goldman Sachs ran the government." That charge is just a tad harder to make today, now that the biggest investment bank on Wall Street is fighting a civil suit for fraud filed by a government watchdog. For anyone who wants a reckoning for the economy-devastating episode that is the banking crisis, this bears the promising indications of war between Wall Street and Washington.

Source: guardian.co.uk