No Way to Candy Coat It...SEC Charges Come from "Cynical Bastards" at Highest Levels of Government

Well, it is pretty damn big news (only tens of billion of dollars of wealth destroyed) but the charges of fraud leveled against Goldman Sachs today are fishy. Ten day old, stanky kind of fishy. Sure they have some superficially damning emails, much akin to Henry Blodgett's (remember him?) famous emails, but not much else. The heart of the accusation rests on the notion that Goldman gave John Paulson a determinative role in picking the loans contained within a CDO. I'm saying "no farging way" this happened. How do I know? Let me borrow a phrase I heard once in answer to such a question..."I'm forty years old and I'm not a complete blithering idiot, that's how I know." Goldman isn't stupid. This is such a no-no they would have never done this, plus they knew Paulson was short mortgages up to his teeth, they wouldn't have let him pick the loans in a CDO. Now, I am not saying that Goldman are a bunch of angels and everything they did during the mortgage mania and ensuing mess was lillywhite, but as to this specific charge the government's got nothing...bupkus.

Here is the REAL purpose behind the charges. Truly, these are cynical bastards who unleashed this today. But hey, it may already be working, so chalk one up for the cynical bastards.

UPDATE: Dick Durbin thinks the "timing was perfect." Yeah, I'll say. Too perfect.