I’ll have more on the GS settlement tomorrow — but I keep getting emails from people insisting that since Goldman’s stock rallied, it is, therefore, a victory. I’ve always hated that analysis, but since so many of you keep bringing it up:
Pre-indictment, GS was north of $180. It closed Friday at $146. Its still some 20% below where it was before the SEC enforcement action began.
Goldman Sachs has lost $15 Billion of market capitalization. Isn’t that a significant part of the penalty? Or do we just ignore that?
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.