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I honestly don't know the law well enough to say with certainty that a used car salesman who intentionally withholds information could be prosecuted or not. Honestly the law should be independent as to whether the car is being sold to grandma or victory motorsports. The intent to deceive was in motion from step one of the process.
Goldman can hide behind curtains (S&P, Moody's) and escape conviction, which I am certain will be the case, but at the end of the day the answer will be the same. They designed a product they knew with a high degree of certainty would fail, sold it to customers knowing it would fail, and reaped huge rewards for their actions.
Maybe I am naive to think that intentionally screwing a customer shouldn't be normal practice, and our allowing it to happen (routinely now out of Goldman) is devaluing the integrity of our markets.
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"The reason most people give up is because they look at how far they have to go, not how far they have come." -Bruce Anderson via FB
-Marine Blue '87 930
Last edited by Rich76_911s; 04-28-2010 at 12:08 PM..
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