Ding-Dong, Goldman Sachs $GS Gets Served
It's hard for many to resist doing a little jig at their bad news - and it's clear plenty of investors, big and small, have that opinion and are crowing in glee. It's true, the WSJ article suggests GS may be only minorly nicked by this development, but one can't help but wonder if this is the start of their death by a thousand paper cuts. The AP news report on the news pointed out: "To date, Goldman also is being investigated by Massachusetts state regulators, the Commodities Futures Trading Commission and the Financial Industry Regulatory Authority, according to Brad Hintz, an analyst at Sanford Bernstein." So I suppose there's plenty still to follow for Goldman-naysayers (even though the stock continues to trade at fairly battered levels).
What do you think: Does this signal the beginning of an era of real trouble for Goldman? Or is it just the latest round of bureaucratic paper-pushing, likely to do no more than contribute to increased job security for regulators and lawyers aplenty?