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Economic News: Goldman Sachs, the bank lawless.

Goldman Sach is new on the front of the stage for a case involving a faith more to "financial morality ". Admittedly, this case is widely known and discussed in the media since 1year and a half now but the novelty is that, against all expectations, Goldman Sachs might be compelled to render account.

Without going into details which are a bit complex: Goldman Sachs sold to subprime customers while she speculated downward for its own account and some privileged clients on these subprime loans. The purpose of this operation is to sell subprime assets or defective (which we know will fail) to customers and then engage in a speculative bet on the decline (significant enough to influence the direction of the market) cons even its customers. Goldman Sachs and double cost because it collects money from the sale of subprime and she steals the money end of paries against its own customers. Obviously, this practice is fraud and scam and unfortunately it seems that this is the only bank to have recourse to this practice.

But the case could take another turn because AIG could file a complaint against Goldman Sachs. Indeed, through the CDS, AIG secured the defaults on subprime. Ansi, small shenanigans of Goldman Sachs have cost him dearly at the point of being virtually nationalized by the U.S. state.

Troubles of Goldman Sachs could also cross the Atlantic today as the UK stock policeman, the Financial Services Authority, has decided to initiate investigation in the wake of the SEC to assess the impact of this fraud in Great Bretragne and especially for the Royal Bank of Scotland nationalized 84%, which contributed 622 million euros at Goldman Sachs in 2007 to dispose of its positions due to funding it had acquired in its takeover of Dutch bank ABN Amro.

In conclusion, we find that the evils of Goldman Sachs began to clash with the interests of others on Wall Street and the city. "The bubble machine" as it is nicknamed could enter a phase of turmoil that could amply deserved the happiness of Barrack Obama as these stories come at a time even where it addresses head on Wall Street to impose its law on the regulation.

Alexandre Letourneau