Goldsach Bags

I've always looked at Goldman Sachs as a standard barrier for investment banks, they always set the trend in the market, always attract the best and brightest, and make a gang load of money doing what they do. Now there's a lot of scrutiny on what they did right before, during, and after the mortgage crisis / recession.

A few thoughts on this...how can they be penalized for playing within the rules, rules setup by the same politicians that are now investigating them for being "shady"...its tough to blame Goldman Sachs for doing what they did logically how can they best represent their clients while taking a huge loss of profit, thus lowering their stock price. How can we ask a bank to have clients who they represent and at the same time allow individuals to own equity in their corporation??? Really who's best interest are they supposed to have the clients that help fund their bank or the investors that help pay their checks...

Morally what Goldman did was frankly despicable, but from a business perspective they bet against earlier mistakes (toxic debt they accumulated), increased EPS (earning per share), and got paid with fatty bonuses! They did exactly what any well run corporation would do, made money for their investors and cut their losses before they got too deep. How can we ask them to do any different?

I hope they don't get penalized and I hope the politicians in DC realize our system needs an overhaul...right now it just looks like DC is covering their own tracks in the court of public opinion by making somebody besides themselves the scapegoat. I'm sure we'll see more of this as we approach November (Mid-Term election)...god I love to hate politics.