Innocent Til Proven Not Guilty

Goldman Sachs is being tried in civil court for defrauding its clients by selling them "securities" that were deliberately designed to blow up in the clients' faces; they've already admitted what they did, but they refuse to admit what they did was wrong.

Goldman acknowledged that they assembled these time-bombs in conspiracy with a hedge fund called Paulson & Co.  The hedge fund cherrypicked the worst possible mortgages, then had Goldman package them together in a CDO to sell them to the chump clients.  Selling the mortgages as a CDO allowed Paulson & Co.  to make a huge side-bet that the sabotaged CDO would fail; lo and behold, they ended up winning big, netting $1 billion, while the gullible clients lost the same amount.

Again, Goldman admits that this was the plan from the start, that they sold the time-bombs knowing they were designed by someone who wanted them to self-destruct; their defense is to claim they have every legal right to sell these deathtraps, and no legal responsibility to disclose that they're sure-fire bets to end in disaster.

It would be hard to have a greedier, more Jewish-sounding name without getting sued by the Anti-Defamation League. 

If Goldman gets off the hook using this defense, it'll be a text-book illustration that that there's a distinction between the defense winning and them actually being innocent.   In fact, if Goldman is exonerated, you can easily argue that, in the public eye, they'll be viewed with far more suspicion than if they'd been found culpable, because it'll establish a precedent in the United States that its perfectly legal to commit this type of fraud.

Conservatives claim that regulating the banking sector is bad for business, that the market will find a way to police itself.  In a way, they're right, the market will correct for these sheisters, but the way it'll do so is by shifting capital to banking sectors in other countries, where laws might might actually protect investors from these con-men. 

If you lived along the Mexican border, and you wanted to buy a sack of gold, would you do it in Tijuana or in San Diego.  Obviously you aren't going to buy it in Mexico because what little law they have there is corrupted by sheisters.

Goldman erected this monstrosity in New Jersey; they were having a hard time standing out among all the other dicks on Wall Street.