how do non-responsive defenses hold up in civil court, anyway?:
Goldman Sachs says that they couldn't have committed fraud because they lost $100 million on the deal - by whatever futuristic method of accounting they've chosen. This is a $900 million confirmation of the SEC's allegation: If they had not committed fraud Goldman Sachs would have lost the entire billion.
Goldman Sachs can afford better lawyers than that. If it wasn't just a lot of kabuki theater to distract us from the trillion dollar thimblerig I think they'd have produced a stronger retort.
:: posted by buermann @ 2010-04-21 21:19:15 CST |