Reply #83: No disagreement about any of that [View All]

[anigbrowl]

I'm just trying to point out that this is going to be big and slow and may take time to properly gather momentum. It is the first big case brought by the SEC (under this administration), and the very first case brought by a new unit of it designed specifically to investigate structural vehicles. As such it's going to be a test case.

It is probably not a coincidence that this case also involves the specific deal that played a large part in causing the royal bank of Scotland to go bust - the British government now owns 80% of it, and you could say that this fraud has cost every single person in Britain $15. Meantime, the Goldman VP who set up the deal is now an executive director at the firm's London HQ. And it just happens that the UK is about to have an election and every party is trying their very best to look more reformist than their competitors.