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Letting the fox guard the henhouse

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October 19, 2009 – Comments (7) | RELATED TICKERS: GS

Is it just me or does this piece of news strike others as being just wrong as well:

SEC Taps Goldman Executive for Enforcement Role

The first thought that popped into my mind when I heard this was, "WTF isn't there anyone else out there who was qualified for this position."  I mean good grief, is there any single company out there that has been implicated in any more shady dealings than Goldman has and this guy was the head of the company's "Business Intelligence Group."

I realize that people will always take aim at you and start rumors about you when you're on top, but where there's smoke there's usually fire.  Even if everything that Goldman has been doing is completely legit, why appoint someone to such a high profile enforecment position like this who has any ties to the organization. 

Is there any level of government or enforcement that GS hasn't spread its tentacles into?  Yuck.

Deej

7 Comments – Post Your Own

#1) On October 19, 2009 at 9:43 AM, stan8331 (97.13) wrote:

I think it really depends on the ethical makeup of the individual.  IF you can find someone who is trustworthy, having someone who knows all the tricks from the inside can be a major plus.  Of course, that is a big "if"...

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#2) On October 19, 2009 at 9:45 AM, dudemonkey (40.86) wrote:

In other news, the SEC has hired Ron Jeremy to look after their daughters' honor.

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#3) On October 19, 2009 at 10:06 AM, WeenTang (54.34) wrote:

...and the 2009 "Best Comment of the Year" goes to.....dudemonkey.

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#4) On October 19, 2009 at 10:42 AM, outoffocus (22.85) wrote:

I got one word for you....Paulson.

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#5) On October 19, 2009 at 10:45 AM, outoffocus (22.85) wrote:

Actually this remineds me of this blog I posted a few months ago.

Every time we hear the phrase “the United States of Goldman Sachs” we shake our heads in wonder. Every ninth-grader knows that the U.S. government consists of three branches. Goldman owns just one of these outright; the second we simply rent, and the third we have no interest in at all. (Note there isn’t a single former Goldman employee on the Supreme Court.)

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#6) On October 19, 2009 at 12:21 PM, jesusfreakinco (28.85) wrote:

Deej,

Amen, brother... a hearty AMEN!

JFC

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#7) On October 19, 2009 at 2:49 PM, starbucks4ever (97.38) wrote:

"Even if everything that Goldman has been doing is completely legit, why appoint someone to such a high profile enforecment position like this who has any ties to the organization?"

Because Goldman needs to know which securities to short. Isn't it obvious?

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